ST. LOUIS – St. Louis officials have formally filed a petition to acquire the city’s abandoned Railway Exchange building through eminent domain.
Once the home of Famous Barr, the old Railway Exchange building has been troubled by break-ins, squatting, fires and vandalism in recent years.
In late-June, the the St. Louis Development Corporation sent a letter to the building’s owners, Florida-based firm Hudson Holdings. The letter explained the intent to acquire the property through the Land Clearance for Redevelopment Authority.
The city says Hudson Holdings missed a deadline in September to respond to the letter. On Thursday, the LCRA filed a petition through the St. Louis Circuit Court to proceed with eminent domain.
“If you’re an absentee property owner, neglect is no longer welcome in the City of St. Louis,” said St. Louis Mayor Tishaura O. Jones via a news release. “I’m grateful to the LCRA and SLDC for their tireless work to help us hold absentee landlords accountable through eminent domain.”
As of Thursday, city officials say the LCRA and Hudson Holdings have been unable to agree upon the just compensation to be paid for parcels. The LCRA has been unable to acquire the parcels by contract or deed.
“We have been moving aggressively to accelerate the process of securing Railway Exchange with the ultimate goal of stabilizing it for future redevelopment,” said SLDC’s President & CEO, Neal Richardson. “Exercising Eminent Domain will allow us to take possession of these problem properties that have been blighting the core of our central business district in Downtown for far too long. Bringing Railway Exchange under local control will be a huge step in ensuring future redevelopment plans align with the community’s best interests.”
The petition aims to help St. Louis take possession of the building through eminent domain, a step that could allow the city to obtain a judicial ruling to confirm its right to acquire the property.
The Railway Exchange building has stood in the 600 block of Locust Street for more than century in Downtown St. Louis, covering 1.2 million square feet and consisting of 21 stories. The building was once a hot hub of retail activity and the St. Louis shopping scene.
This is a developing story. FOX 2 will update as more information becomes available.
