Sale Nears Completion for St. Louis Union Station

ST. LOUIS (AP) — St. Louis Union Station could soon get a transformation.

The one-time railroad terminal turned into a retail center has been struggling for many years. The St. Louis Post-Dispatch reports that after a bidding process, a sale is nearing completion. Details of redevelopment plans have not been released.

The newspaper says two suburban St. Louis companies, Lodging Hospitality Management and THF Realty, are working to buy Union Station and redevelop the site in a $50 million renovation that includes some public financing. THF is owned by Stan Kroenke, owner of the St. Louis Rams.

The sale is under contract. Final details are being worked out.

St. Louis Development Corp. is considering a $5 million allocation of federal New Markets Tax Credits to help the project.

© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Live Inspired
KMOX Podcasts

Listen Live