Arch to Park Equity Fund Purchases Wainwright Building, Music at the Intersection Returns to the Heart of St. Louis, and United Way Recognizes Rich McClure
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“Architecturally Significant”: Arch to Park Equity Fund Purchases Wainwright Building
Greater St. Louis, Inc. announced this week that Arch to Park Equity Fund LLC — a patient capital real estate investment fund it coordinates — made an offer to purchase the historic Wainwright Building, located at 111 North 7th Street in Downtown St. Louis. The State accepted that offer. Customary diligence and negotiations are underway prior to closing.
“St. Louis is the economic engine of Missouri and restoring the core of St. Louis, particularly Downtown, is essential to the growth of our metro. As part of our ongoing efforts to revitalize Downtown St. Louis, Arch to Park Equity Fund LLC is pleased to partner with the State of Missouri to ensure that one of the most architecturally significant buildings in Downtown St. Louis will be preserved for future redevelopment,” said Dustin Allison, GSL Chief Real Estate Investment Officer.
“We look forward to working with the City and Downtown partners on a plan to develop the Wainwright Building and to continuing our partnership to revitalize Downtown and make it the safe, vibrant, and beautiful neighborhood at the heart of our metro.”
$2B Redevelopment Planned for Chesterfield Mall Site
A $2 billion investment in the metro will soon reshape the Chesterfield landscape. Planned by the Staenberg Group, a GSL Chair’s Council member, the redevelopment will turn what was formerly Chesterfield Mall into Downtown Chesterfield, a 117-acre site that will offer around 2,700 new residential units, millions of square feet for offices, retail shops, grocery stores, and restaurants — all surrounding a park. “We want to do something special for Chesterfield, something no one has done in the U.S.,” said President Michael Staenberg.
High Growth Leads to Rebrand, New HQ for Midas Construction
One of the region’s fastest-growing companies, Midas Construction has a new name and a new headquarters. Now known as MBG, or Midas Building Group, the company has moved its base of operations from Clayton to the Maritz Corporate campus in Fenton, where a larger space offers its 48 employees more amenities and room to grow. MBG and sister company Midas Hospitality — a GSL Chair’s Council member — are divisions of Midas Enterprises.
Music at the Intersection Returns to the Heart of St. Louis
Music at the Intersection, a civic-led music festival that tells the story of St. Louis’ musical, cultural, and artistic heritage, will return for its fourth year Sept. 14 - 15. Held in the heart of the metro, the festival is presented by Kranzberg Arts Foundation, a Greater St. Louis, Inc. Chair’s Council member, in partnership with GSL Investor Member the Steward Family Foundation and Investor Council Member the Regional Arts Commission of St. Louis.
“First and foremost, MATI is a music festival and conference that really celebrates St. Louis’ imprint on the American songbook and all the arts and entertainment industries that make up our city,” says Chris Hansen, executive director of the Kranzberg Arts Foundation. “This is a festival and conference that you can only enjoy if you visit St. Louis.”
NASCAR Sees Success in St. Louis, Awards Playoffs to WWT Raceway
Three years of success at World Wide Technology Raceway have prompted NASCAR to shift the Enjoy Illinois 300 from a weekend in June to an opening round event of the Cup Series Playoffs in 2025. “We can’t thank NASCAR enough for rewarding this tremendous sports market with a race of this magnitude,” World Wide Technology Raceway Owner and CEO Curtis Francois said. “The St. Louis region is accustomed to great playoff event memories with the Blues, Cardinals and other sports teams over the years and now we can finally add NASCAR to that esteemed list.”
One of St. Louis’ historic venues is set to get a new visitor experience. The Sheldon Concert Hall, located on Washington Avenue, is planning $8 million in upgrades to its entry way, lobby, and art galleries. Built in 1912, the venue is a vibrant component of the Grand Center Arts District, offering everything from art exhibitions to sold-out concerts.
Paint Louis Draws Hundreds of Artists for 27th Year
Last weekend, an event unique to the metro brought hundreds of artists from around the country to St. Louis. Founded in 1997, Paint Louis, an annual graffiti and music festival, invites artists to repaint a 1.5-mile section of the city’s flood wall. “It’s become a landmark for St. Louis,” Paint Louis Founder John Harrington said to Forbes last year.
United Way Recognizes Rich McClure for Exemplary Board Service
United Way of Greater St. Louis, a GSL Investor Council member, honored Rich McClure, UWGSL board member and former President and CEO of UniGroup, a GSL Chair’s Council member and parent company of United Van Lines and Mayflower Transit, with the Freeman-Kortkamp Award. The award honors the outstanding service and performance of a UWGSL board member whose efforts helped to build a strong foundation for our region now and for generations to come.
McClure’s son Ryan McClure, Executive Director of Gateway Arch Park Foundation, and daughter, Lindsay McClure-Hartman, Associate General Counsel, Edward Jones, joined UWGSL President and CEO Michelle Tucker to honor him.
Schmitt and Wagner Introduce the Gateway Partnership Act
Last week, Senator Eric Schmitt and Representative Ann Wagner introduced the Gateway Partnership Act, which would allow the Gateway Arch National Park to enter into a cooperative agreement with its philanthropic partner, the Gateway Arch Park Foundation, to better manage and host private events for the broader St. Louis community. Schmitt called the legislation a “net-positive for the city of St. Louis.”
Crown Linen Service Recognized as Impactful Family Business
The St. Louis Business Journal 2024 Family Business Awards recognize 10 of the metro’s successful family-owned businesses, honoring their longevity and community involvement in the St. Louis region. GSL Chair’s Council Member Crown Linen Service is one of them, now welcoming five generations into the family business, which was founded in 1891.
At Harris-Stowe State University, Dr. Freddie E. Wills, Jr., Ph.D., is training students from historically Black colleges and universities across the U.S. for futures in geospatial science.
