ST. LOUIS (KMOX) - The vacant Millennium Hotel finally has new owners with a local non-profit under contract to purchase the legendary building.
Gateway Arch Park Foundation announced Friday that they are under contract to purchase the property on 200th S. 4th Street that has been vacant since 2014.
The Foundation says they will work with St. Louis Development Corporation (SLDC), the City of St. Louis, and Greater St. Louis, Inc. (GSL) on a redevelopment plan for the property.
"The Foundation sees tremendous potential in revitalizing the Millennium site," said Ryan McClure, executive director of Gateway Arch Park Foundation in a release. "This project perfectly aligns with our mission to better connect Gateway Arch National Park and its surroundings to the rest of Downtown and nurture an experience that is vibrant, accessible, and memorable for both residents and our many visitors from around the world."
The building, which was known for it's revolving restaurant at the top of the tall 28-story tower, closed in 2014.
“Gateway Arch Park Foundation’s purchase of the Millennium Hotel puts a key real estate asset in the hands of local ownership, which ensures the community’s priorities and best interests will be front and center as redevelopment is planned for this property,” said Neal Richardson, President & CEO of SLDC. “Gateway Arch Park Foundation is a committed steward of Downtown’s most high-profile properties, and their passion, experience and expertise will help this project achieve success. We look forward to working with them to redevelop the Millennium site.”