ST. LOUIS—Like many secondary markets, downtown St. Louis has a number of underused historic buildings, and with CBDs growing more popular as destinations, some developers see opportunity. Alterra Worldwide, a Dallas-based commercial real estate developer, recently jumped into the downtown St. Louis market by purchasing the century-old Jefferson Arms building.
The company plans to renovate the landmark at 401-15 N. Tucker into a mixed-use building with 240 apartments, a 220 room AC Marriott-branded hotel and commercial space with restaurants, retail and creative office spaces with basement valet parking.
“We are proud to be converting this outstanding property into a space for forward thinking and creative living, carrying the torch into the future for the downtown St. Louis community,” says Mukemmel (Mike) Sarimsakci, Alterra's chief executive officer.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
