12-Story, 170-Room Hotel is First New Hotel in Clayton in 30 Years
The $47 million Residence Inn by Marriott is now open and is the first new hotel to debut in Clayton, Mo. in 30 years. The 12-story, 170-room upscale extended stay hotel was launched during the pandemic – one of the most challenging times for the hospitality industry. Midas Enterprises, along with its financing partners, deployed its four divisions to overcome numerous obstacles and advance the project including – Midas Capital, Midas Construction, Midas Hospitality and Midas Development.
“Looking back in early 2021 when the project was launched, we faced supply chain issues, material cost inflation, labor shortages and withering business and vacation travel for which the Residence Inn brand is designed to serve,” noted Linda Eigelberger, senior vice president and principal at Midas Hospitality – which will manage the property. “Thankfully, we were able to rely on the building acumen of Midas Construction and the robust financial stature of Midas Capital and our investment partners to deliver this new landmark in Clayton.”
Midas Capital assembled a strong partnership of capital investors including St. Louis-based Hermann Companies and Peoples Bank which were committed to advancing the Residence Inn as a great asset to the city and community of Clayton.
“A Place to Recharge and Relax”
Eigelberger noted that the Residence Inn is “a place to recharge and relax” with
spectacular views of Shaw Park and great access to upscale retail and numerous restaurants in the Clayton business district. The new hotel complements adjacent 15-story office buildings on either side of the edifice and the curvature of Forsyth Boulevard.
Located at 8125 Forsyth Boulevard, the 155,379-square-foot new hotel features:
- Commanding views of Shaw Park and a second-floor lounge and ballrooms that visually connect with the park and business district;
- 3,300-square feet of second level meeting space with an outdoor terrace and bar;
- Studio, double-, and one-bedrooms suites with oversized windows to bathe the interior in light, fully equipped kitchens and luxury finishes throughout;
- Complimentary breakfast and evening social events, a 1,500-square foot fitness center, and guest laundry combined with other amenities offering guests the benefits of home while away.
Earlier this year, Midas Hospitality named John Kudla as general manager and Leslie Havens as director of sales & marketing for the new hotel. For more information visit Residence Inn St. Louis Clayton or call (314) 639-9030
Adapting to Overcome Challenges
The Residence Inn was originally conceived as a fully volumetric modular building consisting of two floors of concrete podium topped by 10 floors of fully modular rooms. Material shortages and supply chain issues tasked the Midas Construction design/assist team to develop more cost efficient and practical solutions. Working with SSC Engineering and CECO Concrete Construction, Inc., Midas reduced the dependence on cost-prohibitive structural steel and opted for a post-tension cast-in-place concrete structure with cold-formed metal studs. The reworked structure met Clayton’s building codes and advanced the project while maintaining the budget.
Changing from the modular to cast-in-place design necessitated a reworking of the demolition plan for the existing two-story building and new drilled pier foundations on an extremely tight site. Wedged between two of Clayton’s more prominent office buildings and parking garages, great care was taken not to disrupt adjacent businesses by utilizing roofs of parking garages to stage delivery of materials, and off-site prefabrication of plumbing and electrical components for the project.
“We perform many projects of this complexity for the hospitality and multi-family markets,” noted Tim Flacke, principal, Midas Construction. “But the Residence Inn had the additional challenge of a global pandemic constantly impacting the schedule and budget. We are extraordinarily proud of our team’s diligence in developing thoughtful solutions.”
Joining Midas Construction, SSC Engineering and CECO Concrete on the project was design/build site work contractor Castle Contracting, LLC.
Since 2006, St. Louis-based Midas Enterprises (www.midas.enterprises) is a fully integrated real estate group specializing in capital investment, construction, and hospitality management. Midas brings institutional quality real estate to income-focused investors through excellence in hotels, multi-family, and mixed-use developments. It leverages four divisions to build great communities in which to live and work, including:
- Midas Hospitality, which specializes in the development, management and investment of award-winning hotel properties across the U.S. The firm focuses on select-service, upscale, boutique and extended-stay experiences for global brands including Marriott, Hilton, and IHG. For more information, visit www.midashospitality.com.
- With broad experience in large and mid-scale projects, Midas Development is focused on creative problem-solving in an ever-changing industry. Its current development pipeline includes hospitality, multi-family residential, commercial and retail sectors, and totals more than $1 billion in total developments. Capable of providing full-service development as well as select-service consulting, Midas Development meets all needs as a trusted real estate partner. For more information, visit www.midashospitality.com.
- Midas Capital, which specialized in strategically assembling financing to for a portfolio of commercial real estate projects and other diversified investments. It has more than $578 million in real estate under management in 17 states and more than $1 billion in projects in its pipeline. Learn more at www.midas.capital.
- Midas Construction proficiently builds for hospitality brands as well as multi-family projects with design/build, design/assist, and construction management capabilities. Projects include new construction, historic renovation and commercial tenant finish in a solution-oriented approach to hospitality and multi-family projects. Learn more at www.midas.build.