Railway Exchange Building to be acquired by SLDC

ST. LOUIS – A judge’s ruling on Friday has made room for the Railway Exchange Building to be acquired by the St. Louis Development Corporation’s Land Clearance for Redevelopment Authority.

The City of St. Louis judge approved for the organization to condemn and take over the building and the adjacent parking garage by eminent domain, according to a release.

LCRA will ask to purchase the property at $5.3 million, which was a price set by the group’s chosen appraisers.

A court date for a hearing to determine the property’s value is pending.

“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,” the release stated.