The Gateway Arch Park Foundation, a St. Louis nonprofit associated with Gateway Arch National Park, has chosen Baltimore-based real estate developer Cordish Cos. to redevelop the former site of the Millennium Hotel into a new mixed-use development, according to a news release shared with Multifamily Dive.
The foundation is under contract to purchase the site and aims to revitalize St. Louis’s downtown with this new development, according to the release.
“We are delivering on our promise to take swift action to bring vibrancy once again to this critical downtown location,” said Ryan McClure, executive director of the Gateway Arch Park Foundation, in the release. “By selecting a developer before closing on this property, we are continuing momentum with purpose and dedication.”
Located next to the St. Louis Gateway Arch landmark, the Millennium Hotel consists of two towers, built in 1968 and 1974, connected by a low-rise building. The hotel closed in 2014 and has stood vacant on the site ever since. St. Louis’s Land Clearance for Redevelopment Authority declared the property a blighted area in September.
The preliminary plan for the site calls for 1.3 million square feet of residential, office, commercial, cultural and public space, at an estimated cost of $670 million. The residential component, known as the Riverline Apartments in the design documents provided to the LCRA, will stand 41 stories tall with 585 units in a staggered-facade structure.
Other key elements include an amphitheater, a food hall, art installations and a potential home for Gateway Arch National Park’s archives, according to the release. The Millennium Hotel structures will be entirely demolished as part of the redevelopment.
Ballpark views
Cordish Cos. has previously partnered with the St. Louis Cardinals baseball team on Ballpark Village, a mixed-use development near both the Busch Stadium baseball park and the future Riverline Apartments site, according to the release. One Cardinal Way, the 297-unit residential section of the property, opened in August 2020 and was 90% leased by March 2021.
In another baseball team-up, Cordish also recently opened One Rangers Way, a 300-unit apartment property co-developed with MLB’s Texas Rangers in Arlington, Texas. The property is the first residential addition to the Arlington Entertainment District, directly adjacent to Choctaw Stadium and within walking distance of Texas Live!, Globe Life Field, and AT&T Stadium, home of the Dallas Cowboys football team.
One Rangers Way offers a choice of 50 floor plans named after Rangers players and iconic moments, ranging from studios to two bedrooms in size, plus penthouse units. The property also includes a curated exhibit of Texas Rangers memorabilia, artifacts and more than 50 pieces of custom prints, sculptures and installations inspired by players. Among them is a mural commemorating the Rangers’ 2023 World Series win.
