Otis: "The Kimpton hotel will be coming. The project is finally through the, almost through the legislative process. And so I think projects like that will be a signature."
Sunshine Gerry: The BOA should vote no on #BOAbb169 on 4/20. Midas doesn't need more tax abatement for the #2601Market hotel.
I stopped by #2601Market today to check the status of construction of the $101M Kimpton hotel.
IF any plumbing has been roughed-in, it isn’t visible. 👀
Photos feature the 3/20 Post-Dispatch.
Perfection debate on #BOAbb169 starts at 1:37:00 in the video of the 3/20 BOA.
youtu.be/L92YNNdUXj8?...
I'm hoping to make a field trip soon to #2601Market to see how construction is progressing on the Kimpton hotel.
#CorpWelfareHotel
#BOAbb169
#Alderquotes
Three bills, three NO votes in my book.
#STLBOA
Add the Midas hotel tax abatement #BOAbb169 to the list of bills alders should vote down.
#2601Market
Screengrab of BB 169, showing that the document was created on 3/17/26 (the day of the HUDZ hearing) at 10:21 a.m. Link to version of BB 169, first posted online on 3.17.26. https://www.stlouis-mo.gov/government/city-laws/upload/legislative/boardbills/introduced/BB169%20Combined%20(2).pdf
My mistake! I had checked the website around 10 a.m.
Sometime after 10:21 a.m., a new version of #BOAbb169 replaced the document that was posted when the bill was introduced.
The two hotel project has shrunk to a solitary Kimpton hotel at #2601Market. IMO, the 2nd #CorpWelfareHotel won't be built.
Watch today's #HUDZ Committee meeting live here:
www.youtube.com/live/rx9MbOI... (started at 11 a.m.)
Inc. hearing on #BOAbb169, which increases the tax breaks for the Midas hotel at #2601Market
BB 169 online doesn't include SLDC's updated financial analysis, presented to #LCRAstl on 2.24.26
Video posted today of the 2/24 St. Louis #LCRAstl board meeting.
LCRA approved the amended redevelopment plan for the #2601Market Midas hotel; increasing the tax abatement from 75% to 90%.
Midas heist of public 💰starts at 1:25.
All 👀 on #HUDZ agendas for #BOAbb169 hearing
youtu.be/yetmfo6Igjo?...
Today in the City of St. Louis #TaxBreaksAsUsual racket.
#2601Market hotel by Midas wins #LCRAstl approval for increased tax abatement.
The contrast between unmet needs in ARPA-funded programs, as discussed at #HUDZ today
VS.
STL’s apparent unmet needs for a luxury boutique hotel discussed at #LCRAstl
Tells me a lot about the capacity of government to fail the people & simultaneously benefit corporations.
#2601Market
Today at 3 p.m.
City of St. Louis #LCRAstl board meeting via Zoom.
Midas Hospitality is seeking 90% abatement for the #2601Market hotel.
It's past time for the city to take a hard look at the merits of tax breaks for hotels.
What's the job creation track record?
#WhoBenefits?
#CorpWelfareHotel
Awaiting its hearing before the #HUDZ Committee, #BOAbb169 boosts the value of the tax abatement for building a new hotel, possibly two, on land at Market and Jefferson that was once home to the Peoples Finance Building.
#2601Market hotel is on the 2/24 #LCRAstl agenda:
bsky.app/profile/gcon...
Agenda for 2.24.26 meeting of the City of St. Louis LCRA board of directors. Link to board packet: https://www.stlouis-mo.gov/government/departments/sldc/boards/documents/upload/February-24-2026-LCRA-Agenda.pdf
Image of page 1 of Resolution No. 26-LCRA-10988 to amend the redevelopment plan for 2601 Market St., facilitating the increase of portion of assessed value that will be tax abated. See pages 5 - 42 of board packet for documents pertaining to the Midas Hospitality hotel development.
Page 32 of LCRA board packet. "Project Summary" for a single hotel to be constructed at 2601 Market St. in Ward 11.
Photograph from the "Black Metropolis" exhibit at the Missouri HIstory Museum, showing the Peoples Finance Building and accompanying text. The location of the proposed new hotel at 2601 Market St. (NW corner of Jefferson & Market St. ) was once the site of the Peoples Finance Building, which was demolished in the City's erasure of Mill Creek. The building was built in 1926 and demolished in 1961.
The Feb. 24 #LCRAstl board agenda is available:
tinyurl.com/27b8zth8
Sole project:
#2601Market Midas hotel.
Res. 10988 increases the 10 yr tax abatement from 75% to 90%.
The updated financial analysis omits revenue from the #2601MarketCID , which is controlled by Midas.
See ALTs
#CorpWelfareHotel
Difficult to pick the worst bill of the 24 or so board bills introduced today, but #BOAbb169 is a strong contender.
The project has been scaled back from two hotels to one. There’s no updated financial analysis by SLDC. No fiscal analysis was performed for the CID
#CorpWelfareHotel
#2601Market
There is currently no provision for a redevelopment plan to go back to the Board of Aldermen for projects with tax abatement when a substantial change to the plan is made.
Examples:
#2601Market Dual hotels by Midas.
#4001Chouteau. “Chroma” by Greenstreet
#4591McRee “Rail” by Greenstreet
This is a classic case of a bait and switch by a developer.
The substantial change in the project design & cost should trigger an updated financial analysis by SLDC & re-evaluation by the BOA of the incentives.
1. Tax abatement #BOAbb197
2. Developer-controlled CID #BOAbb206
#2601Market
How are the two new hotels progressing at Jefferson and Market?
I recall great urgency being expressed when the tax abatement & Capitalism Improvement District legislation was moving through the BOA.
#2601Market
