Union Station plan focuses on upgrading hotel
Friday, June 22, 2012
ST. LOUIS (AP) — The $50 million plan to redevelop St. Louis’ historic Union Station focuses on improvements to the Marriott Hotel, not the struggling retail space.
The St. Louis Post-Dispatch (http://bit.ly/MzAMC8 ) reports that the St. Louis Development Corp. board voted 4-0 Thursday to award $5 million in federal tax credits to Lodging Hospitality Management, which has a contract to buy the former train station that was turned into a retail center and hotel.
Documents filed with LHM’s tax credit application show that the company will pay about $20 million and spend an additional $30 million to renovate the Marriott, fix deteriorated parts of the train shed and improve parking areas.
The retail area has lost several tenants in recent years. The plan does not address the retail space.
Information from: St. Louis Post-Dispatch, http://www.stltoday.com
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