ST. LOUIS — A developer is planning a $1.2 billion mixed-use project along the Mississippi River, in an area south of the Gateway Arch, with residential, retail, entertainment, office, industrial sites and public space, according to government documents.
Others have pitched redevelopment of the mostly desolate area known as Chouteau's Landing, but if successful, the massive development would provide a major boost to downtown and represent the latest $1 billion-plus St. Louis project, after the new National Geospatial-Intelligence Agency campus and John Cochran VA Medical Center.
The project, known as Gateway South, is led by St. Louis-based Good Developments Group, the developer founded by Washington University alumnus Greg Gleicher. Good Developments, which lists an address on Pine Street downtown near the Arch, owns or controls 50 of 80 acres of the potential development site south of Interstate 64 and the Poplar Street Bridge and west of the Mississippi River, according to the filings.
Neither Gleicher nor Good Developments Group could immediately be reached for comment.
The redevelopment area encompasses most of the 58-acre Chouteau’s Landing site other developers once hoped to redevelop. The Good Developments Group site also extends south into the Kosciusko neighborhood that borders the river, according to a map included as part of the documents.
The St. Louis Port Authority is meeting Thursday to consider authorizing resolutions to cooperate with the developer on the project, including a preliminary funding agreement for the proposal and an intent to start negotiations on a development agreement that could include incentives.
The developer will pay the city, Port Authority, St. Louis Development Corp. and Land Clearance for Redevelopment Authority’s costs for creating the development agreement. That will start with a $25,000 payment to the city as part of the preliminary funding agreement, which has to be executed by October for the deal to take effect, according to the resolution. The developer can terminate the agreement with a 10-day notice.
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