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Historic Downtown Buildings Getting Second Life

With CBDs growing more popular as destinations, some developers see opportunity.

By Brian J. Rogal | brianjrogal | Updated on July 31, 2017

http://www.globest.com/sites/globest/2012/10/18/butler-brothers-building-to-get-55m-makeover/ Opened in 1904 for the World’s Fair, the Jefferson Arms will now have both a hotel and apartments.

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.

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