ST. LOUIS 鈥 Aldermen on Friday introduced plans for property tax breaks to support the demolition and redevelopment of the Millennium Hotel site downtown into luxury housing, offices, an amphitheater, food hall and other amenities.
The bill, sponsored by Alderman Rasheen Aldridge, allows breaks worth an estimated $72 million over 20 years to support a $670 million proposal from The Cordish Cos. that boosters say will transform downtown鈥檚 skyline.
The plan from The Cordish Companies鈥, which developed Ballpark Village with the 最新杏吧原创 Cardinals, was chosen from three bids to redevelop the shuttered hotel site, which occupies prime real estate just west of the Gateway Arch grounds.
At 28 stories and 780 rooms, the Millennium hotel was once the largest in 最新杏吧原创. It opened in 1969 as Stouffer鈥檚 Riverfront and later carried the Clarion and Regal Riverfront names. But the cylindrical tower, which once boasted a rotating restaurant on the top floor, has been vacant since 2014.
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In more recent years, officials have named it as one of four major vacant buildings 鈥 along with the Railway Exchange, the old AT&T tower and the Chemical Building 鈥 that must be redeveloped to bring back a downtown that has been slow to recover from the COVID-19 pandemic.
The tax abatement 鈥 a 90% tax abatement for 20 years 鈥 is fairly generous compared to other packages authorized around the city in recent years. But aldermen approved an even larger break 鈥 95% abatement over 20 years 鈥 for a possible redevelopment of the Railway Exchange building in 2023.
Staffers at the city development agency estimate that the project will bring in $45 million more in property tax revenue over 20 years, even with the abatement, than it would if the site remained as it is now.
The city expects an extra $15 million for the city public school district during the same period.
Post-Dispatch photographers capture hundreds of images each week; here's a glimpse at the week of June 8, 2025. Video edited by Jenna Jones.
