ST. LOUIS — Two hotels will anchor a key downtown corner as part of a long-awaited $120 million redevelopment of part of the Wells Fargo Advisors campus downtown.
St. Louis-based developers Midas Enterprises and Green Street Real Estate Ventures are partnering to build a Kimpton Hotel and Staybridge Suites hotel at the corner of Market Street and Jefferson Avenue in Downtown West, blocks from the new Centene Stadium, said Midas Capital Vice President of Development Steve Metherd.
The hotels will be built at 2601 Market St., the site of two former office buildings that the St. Louis-based brokerage unit of Wells Fargo & Co. sold for $5.75 million in 2020 to Green Street, which moved to a new office in Forest Park Southeast this year.
Green Street and Midas are also partnering on a $100 million mixed-use development at the former World News site in downtown Clayton.
Both hotel brands are owned by Intercontinental Hotels Group, or IHG, and will share some back-of-the-house operations and management, Metherd said. The proposed Kimpton would mark the debut of that luxury boutique brand in St. Louis.
The Kimpton will have a rooftop bar with views of the Arch, Market Street and the stadium, the developer said. An upscale restaurant will have an outdoor terrace with a view of the Arch down Market Street and up-close views of Great Rivers Greenway’s Brickline Greenway trail that will be constructed in front of the buildings, Metherd said. A parking garage will be constructed under the new hotels.
The project is still in the design phase, which should finish by the first quarter of 2023, Metherd said. Under the tentative timeline, the buildings at the corner could come down in the fourth quarter this year. Construction on the new buildings could start in the second quarter of 2023.
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