SLDC to acquire Railway Exchange Building
ST. LOUIS, Mo. (First Alert 4) - The St. Louis Development Corporation’s (SLDC) Land Clearance for Redevelopment Authority will soon be able to take possession of the Railway Exchange Building and an adjacent parking garage following a judge’s decision on Friday.
“St. Louis can be one of those premiere Midwest destinations, ” Cornell Thirdkill, a city resident, said.
The ruling Friday will allow the SLDC to condemn and take possession of the downtown building, according to court documents.
“I think it really needs it and I think it’s been something that’s been a long time coming,” Sydne Rensing said. “We love to see even more.”
“It’s a beautiful thing because those have been some dilapidated buildings and it’s time for St. Louis to bring back that Downtown energy,” Thirdkill said.
A hearing with a judge and commissioners to decide the value of the property is not yet set, but is expected to happen in December, sources told First Alert 4.
“LCRA is hopeful to receive final determination of value before the end of the year, and aims to pay that value and take possession of the property shortly after,” SLDC said in a release.
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