Show-Me State Times

Mayor Tishaura O. Jones, along with the Department of Public Safety (DPS), St. Louis Development Corporation (SLDC), and Greater St. Louis Inc. (GSL), has taken steps to secure and stabilize the Railway Exchange Building in Downtown St. Louis.

On May 17, Mayor Jones stood with city leaders and challenged SLDC and GSL to deliver a realistic and ambitious plan to address the Railway Exchange Building and the Millennium Hotel within 120 days.

In June, the security firm Citizens Guard Security (CGS), which had previous experience with the building, was hired by the Department of Public Safety to secure both the main building and the adjacent parking garage by having a visible presence to deter crime before it occurs.

"Through public-private partnerships, we've stopped the Railway Exchange Building from serving as a magnet for crime," said Mayor Tishaura O. Jones. "We've also put the owners on notice that neglect is no longer welcome in the City of St. Louis."

On June 28, 2024, the St. Louis Development Corporation sent a letter to Hudson Holdings, the owners of the Railway Exchange, notifying them of the City's intent to acquire the property through the Land Clearance for Redevelopment Authority (LCRA), a development board staffed by SLDC. The City plans to submit an offer letter to purchase the property.

"We have been moving aggressively to accelerate securing Railway Exchange with the ultimate goal of stabilizing it for future redevelopment," said SLDC's President & CEO, Neal Richardson. "While eminent domain is a solution of last resort, after lengthy conversations with interested developers and legal experts, it became clear that given the complex financing structure put in place through prior redevelopment initiatives and nature and level of encumbrances on property, initiating eminent domain was necessary."

The letter also makes clear that if LCRA cannot reach a binding agreement with Hudson Holdings, the City can file a petition for eminent domain in Circuit Court to acquire property.

"Bold action is necessary on these problem properties, and we are working in partnership with City to address these challenges head-on and quickly," said Kurt Weigle, Chief Downtown Officer for Greater St. Louis Inc. "The steps taken by City coupled with our ongoing work on potential options for Railway Exchange and Millennium make clear that we are not waiting for 120-day deadline."

###