Developers pitching Trump Hotel in St. Louis - KMOV.com

Developers pitching Trump Hotel in St. Louis

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A rendering of the proposed hotel in Downtown St. Louis (Alterra International Renderings) A rendering of the proposed hotel in Downtown St. Louis (Alterra International Renderings)
A rendering of the proposed hotel in Downtown St. Louis (Alterra International Renderings) A rendering of the proposed hotel in Downtown St. Louis (Alterra International Renderings)
ST. LOUIS, Mo. (KMOV.com) -

The massive Jefferson Arms building sits vacant on Tucker Boulevard in downtown St. Louis, but that's about to change according to a Texas developer. 

Alterra International representatives will present a hotel renovation concept to the St. Louis Development Corporation on Wednesday November 16. 

Nile Tuzun says Alterra is "committed to get it done." Tuzun says they are working with Trump International and "they are very excited for the potential to be in St. Louis."

Renderings show a rooftop pool and street level retail and restaurants that would aid redevelopment along a prominent stretch of Tucker Boulevard.

Photos: Inside the vacant Jefferson Arms building

Tuzun says Alterra would like to start construction as soon as next summer. 

The project would require financing through multiple sources. Tuzun says that could involve TIF, historic tax credits, Alterra equity, and the EB 5 Visa program. The EB 5 Visa program grants residency to foreigners that invest substantial money in American commercial projects. 

Alterra relied on the EB 5 Visa program to finance a similar project in Dallas. 

Tuzun adds the company sees growth potential in the St. Louis market, and Alterra is also interested in developing additional projects in the area. 

According to Tuzun, Trump International would be a third party operator, but would not own the building.

The project could include up to 250 hotel rooms and 250 apartments, and take 30 months to complete.  

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