Foundation closes deals on acquisition of Millennium Hotel in St. Louis

The Gateway Arch Park Foundation recently closed on its acquisition of the long-closed Millennium Hotel in downtown St. Louis.

The deal opens the door for the property to be redeveloped by the Ballpark Village and sparks hope for a resurgence in St. Louis’ downtown. The Ballpark Village sits next to Busch Stadium, home of the St. Louis Cardinals baseball team.

The St. Louis Post-Dispatch reported:

Officials are hoping to transform the site with new housing, office space, an amphitheater, a food hall and other amenities, and are working with the developer behind Ballpark Village on the $670 million project. […]

“Today is truly a day of hope for our downtown and for St. Louis,” Mayor Cara Spencer said at a press conference at Ballpark Village. 

It will be several years before the city’s new skyline is built: The Arch foundation and its development partner, The Cordish Cos., are waiting on the state of Missouri to approve its environmental remediation plan as well as their request for Brownfield tax credits to help fund it. Ryan McClure, the foundation’s executive director, said the remediation and demolition will take 18 months to two years to complete. 

According to a subsequent report by the Post-Dispatch, the deal was for $7.5 million. The hotel had been closed since 2014.

The hotel, standing between the Gateway Arch and Busch Stadium on Fourth Street, was built in 1969.

For years, the hotel — with its distinctive cylindrical main building — was a focal point for tourists and Cardinals fans. It sits only a couple of blocks from the Route 66 alignment of downtown St. Louis.

The main tower is 28 stories and once featured a restaurant on the top floor, called Top of the Riverfront.

A second, 11-story tower was built years later. In all, the hotel contained more than 700 rooms.

The Millennium originally was known as Stouffer’s Riverfront Inn and later the Regal Riverfront Hotel before being acquired by Millennium Hotels and Resorts in 1999. It was also known as The Clarion Hotel.

Tiernan Design designed the hotel, and it was built by William B. Tabler Architects.

(Image of the Millennium Hotel in St. Louis by Warren LeMay via Flickr)