Midas Hospitality is slated to begin construction on a $25 million hotel on Forest Park Parkway in the next couple of months.
The 153-room Element by Westin should be complete by the end of next year. It will replace the existing Habitat for Humanity buildingÌýat 3763 Forest Park Avenue. That organization isÌý. The nonprofit should be out by May and demolition will start soon after, Midas said, with construction complete by the end of 2019.Ìý
The Ó£ÌÒÊÓƵ University-controlled redevelopment corporation in the area has approved 10 years of 75 percent tax abatement for the planned hotel, followed by another five years of property tax breaks at 50 percent.Ìý
People are also reading…
Ìýin late 2016. There's some $1 billion worth of investment planned for the corridor, including SSM's plans for a new, half-billion dollar new SLU Hospital.ÌýÌý²¹²Ô»å Ìý
Midas is also planned in the Cortex technology district just to the west of where the Element will be built. Midas was tapped as the developer late last year. Cortex .
