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Mercantile Exchange about to help St. Louis Centre be reborn

Mercantile Exchange about to help St. Louis Centre be reborn

Other than possibly St. Louis Marketplace, there is really no other development project in St. Louis that reeks of failure more than St. Louis Centre. Doomed from the start, this urban mall faltered almost immediately after it opened. Who knew that nobody wanted a suburban mall shopping experience in the shadow of the Arch? Failure though it was, developer Spinnaker  is about to give the complex, as well as the neighboring Dillard’s Building, a new start.

Dubbed the Mercantile Exchange, the first phase of the project is about to come online at the old Dillard’s Building, now called the Laurel. This first phase will include:

Three floors of apartments are scheduled to open October 1. Four days later, a 212-room Embassy Suites hotel will open in the Laurel’s lower five floors. More apartments will open in November on the floors above the hotel, bringing the building’s total to 205 residences.

The next phase will focus on the St. Louis Centre building with a new 3-screen movie theater, Pi Restaurant, a 25,000 sq ft blues history museum, and other establishments coming in early-Summer 2012.

Check out the Mercantile Exchange website for more information.

via Build Blocks

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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One thought on “Mercantile Exchange about to help St. Louis Centre be reborn”

  • Mark

    September 19, 2011 at 12:56 pm

    Well, most would say St. Louis Centre was doing well into the mid-1990s, which would give it a 10-year shelf life. So I wouldn’t say it was an immediate failure. Who knows – had the Galleria not been expanded in the early 1990s, we might still have a decently successful mall there today?

    Reply

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