Saturday, August 12, 2017

There’s news below from the editor of The Coastal Star.

Just in case you missed this.

“Developer [Hudson Holdings] buys Railway Exchange Building downtown”

[Please Note: See below for an update datelined August 2nd from Mary Kate Leming at The Coastal Star.]

The title above is from a news article datelined January 31st, 2017, by reporter Tim Bryant at the St. Louis Post-Dispatch; here is an excerpt:

“A Florida-based developer completed on Tuesday [Jan. 24th, 2017] its purchase of the century-old Railway Exchange Building in downtown St. Louis.      The new owner is Hudson Holdings* of Delray Beach, Fla. A real estate source said the company paid just above $20 million for the building that occupies an entire block in the middle of downtown.
     Hudson Holdings did not respond to requests for comments about its plans. The company put the building under contract last spring.
     Real estate sources in St. Louis have said the most likely redevelopment would include a mixture of residences, stores and, perhaps, a hotel.


St. Louis: Railway Exchange Building (built in 1912) — Hudson [Holdings] paid $20.4 million for it in January after nine amended purchase agreements; it has 21 stories with 1.2 million square feet. Plans call for apartments, stores and a hotel. In June, two Boca Raton mortgage brokers sued, claiming they were not paid as promised for arranging a $10 million loan from a Hungarian company. Their lawsuit alleges that the money did not go to help the developers buy the Railway Exchange, that instead the money was misused.

To read the entire article in The Coastal Star use this link.

*Use this link to read the latest Weekly Progress Report on Gulfstream Hotel in the City of Lake Worth.