St. Louis officials have taken a significant step in addressing the ongoing issues surrounding the abandoned Railway Exchange building by filing a petition to acquire the property through eminent domain. The building, once a bustling center of retail activity in Downtown St. Louis, has fallen into disrepair in recent years due to break-ins, squatting, fires, and vandalism.
The St. Louis Development Corporation (SLDC) sent a letter to the building’s owners, Hudson Holdings, expressing the city’s intent to acquire the property through the Land Clearance for Redevelopment Authority (LCRA). Despite missing a deadline to respond to the letter in September, Hudson Holdings has been unable to reach an agreement with the LCRA on the just compensation for the property.
St. Louis Mayor Tishaura O. Jones emphasized the city’s commitment to holding absentee landlords accountable, stating that neglect will no longer be tolerated in St. Louis. The decision to pursue eminent domain comes after efforts to acquire the property through negotiation were unsuccessful.
SLDC’s President & CEO, Neal Richardson, highlighted the importance of bringing the Railway Exchange building under local control to facilitate future redevelopment plans that align with the community’s best interests. The petition filed by the LCRA aims to secure the building through eminent domain, providing the city with the legal means to take possession of the property.
The Railway Exchange building, a historic landmark in Downtown St. Louis, has been a prominent feature of the city’s landscape for over a century. Covering 1.2 million square feet and spanning 21 stories, the building has played a significant role in the city’s retail and shopping scene.
By moving forward with the petition to acquire the Railway Exchange building through eminent domain, St. Louis is taking a proactive approach to address the blight and challenges facing the property. The city’s efforts to revitalize and stabilize the building for future redevelopment reflect a commitment to enhancing the central business district and promoting economic growth in the area.
As this story continues to develop, updates will be provided to keep the community informed about the progress and outcomes of the city’s actions regarding the Railway Exchange building. Stay tuned for more information as it becomes available.
