ST. LOUIS — The hotel inside part of a historic downtown building would be revamped as a Sheraton under a $45.9 million plan from a St. Louis-based hotel developer.
Midas Hospitality is seeking tax incentives to fund the renovation of the 266-room hotel inside the former Edison Brothers Building at 400 S. 14th St. downtown, which was scheduled to be sold in an online auction marketplace in March. The auction was delayed before it could take place.
The 13-story, 472,500-square-foot building currently functions partially as an OYO Hotel with 288 rooms. It’s owned by Acres Capital, a Long Island, New York-based commercial mortgage lender that took over the property after the prior owner, Consolidated Land Holdings LLC, filed for bankruptcy in 2019.
The project will not affect the 71 existing condominium units that are also inside the building, which were not to be sold as part of the auction.
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