ST. LOUIS (KMOX) – At least 12 new hotel projects are in the works in the city of St. Louis, but none include the Millennium Hotel — now shuttered for almost four years.

The 28-story hotel on 4th Street overlooking the Arch grounds and the river would seem like prime real estate, but nobody can make the numbers work, according to Gary Andreas with H&H Consulting.

He tells the St. Louis Business Journal that just to cure the deficiencies – including asbestos and mold – would cost about $100,000 per room — or $80 million.

He thinks the owners, based in Singapore, would gladly unload the property if offered any price.

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