Pyramid, Spinnaker Launch $450M-Plus MXD-Use

ST. LOUIS-The Pyramid Cos. held its launch celebration Thursday night for the 580,000-sf Laurel, a redevelopment of the Dillard’s building, which will have a new 216-room hotel, 35,000 sf of retail, 74 condos and 120 apartments. The building is part of a more than $450-million project announced this week by a joint venture of Pyramid and South Norwalk, CT-based Spinnaker Real Estate Partners LLC.

The project, dubbed the Mercantile Exchange, also includes 525,000 sf of new and redeveloped office space, another 101 condos and 125,000 sf of retail, and 1,200 new parking spaces. The development is bounded by Seventh St., Convention Plaza, Broadway St. and Olive St.