On Wednesday, the Armory announced it shut its doors indefinitely. It was a major blow to St. Louis, especially for vendors with upcoming events. But behind the closure is a deeper financial crisis that has been unfolding for months.
Among those impacted is Eli Gosney. A military veteran, Gosney once turned to alcohol to cope with his pain.
“I didn't want to deal with things," he said.
Now, he turns to art.
“I figured out that I had a creative way to express those ideas that I was feeling inside my head," Gosney said.
He was excited to showcase his work—alongside dozens of other artists—at the Armory over Veterans Day weekend in November. But that won’t be happening now. Less than two years after opening its doors, the Armory has shut down indefinitely.
“What are we gonna do? Because we have so many people lined up," he said.
To dig deeper, we turned to the Armory’s managing partner, Jacob Miller.
“It became this kind of whirlpool of debt," said Miller.
He explained how the Armory was supposed to be a massive entertainment hub, hosting concerts, sports events, and more. Jacob said the developer, Green Street Real Estate Ventures, didn’t provide the funds needed to fully open the venue.
“It's like a vicious cycle, I guess," he said. “I think my team there did a miraculous job of keeping things going as long as they could. But, you know, I don't want to dig the hole any deeper.”
Meanwhile, people like Gosney are left in limbo.
“Can you give us a call let us know what's going on? Are you going to be open in time for this event?” he said, wanting answers from the Armory.
5 On Your Side reached out to St. Louis-based real estate developer Green Street Real Estate Ventures for comment and is waiting to hear back.
Court documents show there are a handful of pending cases in St. Louis against Green Street.