By KERRY SMITH, EDITOR, ST. LOUIS CONSTRUCTION NEWS AND REVIEW MAGAZINE
The developers of two separate riverfront development projects totaling nearly 150 acres and more than $1.3 billion continue to perform financial feasibility studies.
Gateway South is a $1.2 billion development being proposed by St. Louis-based Good Developments Group on 80 acres of former industrial ground along the St. Louis riverfront just south of the Gateway Arch Grounds at Chouteau’s Landing. GDG plans to work with the St. Louis Port Authority Commission and the U.S. Army Corps of Engineers on site flooding improvements.
In August, the Port Authority approved a resolution to evaluate the financial feasibility of GDG’s proposal. If approved, it is estimated to be a 10-year project that will build three mixed-use districts comprised of recreational, residential, advanced manufacturing, office and entertainment.
Lighthouse Point, proposed by Nashville-based M2 Development Partners, encompasses 67.5 acres just north of I-270 along the Mississippi River on Riverview Drive in North St. Louis City. The $325 million redevelopment project – which could include a marina, waterpark, themed hotels and restaurants – inked an agreement earlier this year with the St. Louis Port Authority Commission to commence a financial feasibility study. M2 Development Partners is paying the commission $25,000 for the study.
The proposed Lighthouse Point hospitality destination would be located 1.5 miles from the new St. Louis Zoo Wild Care Park on the site of the former North Shore Golf Course. The project is proposed to be delivered in four phases. Phase one of the project is envisioned to begin in the second quarter of 2023.
The developer acquired the land for this development in 1999 and has worked with the U.S. Army Corps of Engineers to mitigate future flooding at the site.