A day after city officials in St. Louis approved a key piece of Ballpark Village’s financial package, developers gave a clear signal that the project’s second phase is ramping up with a Wednesday announcement that a major hotel is joining the restaurants, office space and apartments planned along Clark Avenue.
Loews Hotels & Co. said it will enter the St. Louis market with a new $65 million hotel as part the $260 million second phase of the mixed-use development next to Busch Stadium.
The new eight-story Live! by Loews-St. Louis hotel will open in late 2019 and have 200 employees, according to Loews Hotels Chairman and CEO Jonathan Tisch. The hotel will feature 216 rooms, a fitness facility and 17,000 square feet of meeting and event space, including a grand ballroom and outdoor event terrace.
Construction on the first phase of Ballpark Village began in 2013 and opened the following year. The retail and entertainment development currently has 120,000 square feet of space.
On Wednesday, the Cardinals also released updated details about the second phase of Ballpark Village, which will have 550,000 square feet of space. The dollar amount of Ballpark Village’s second phase is larger than the previous estimate of $220 million. In addition to the hotel, the second phase will include a 29-story luxury high-rise apartment tower, the first Class-A office building built in downtown St. Louis in nearly 30 years, and about 50,000 square feet of space for additional retail and entertainment tenants.
Read more: St. Louis Post-Dispatch