ST. LOUIS • Webster University is set to expand its downtown campus with a plan to move into the historic Arcade building at 800 Olive Street by 2016.
The university already occupies space at the Old Post Office, across Olive Street from the Arcade building. Together, the two locations will be known as Webster’s Gateway Campus.
Mayor Francis Slay applauded the announcement, scheduled to be made today, as the final step in a 20-year, $116 million effort to redevelop downtown’s Old Post Office Square.
Bordered by Olive Street on the south, Locust Street to the north, Eighth Street to the east and Ninth Street on the west, the redevelopment of Old Post Office Square has long been seen as a critical step in revitalizing downtown ºüÀêÊÓƵ.
“It took relentless people with vision, creativity and patience to get it done,†Slay said in a news release. “But, it is worth it.â€
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Webster is set to be the “anchor tenant†in a renovation project spearheaded by Minneapolis-based Dominium Development that will also include 282 lofts and apartments.
Webster is set to move into offices, classrooms and a small auditorium to be used for lectures and concerts. The building’s distinctive arcade is part of the space the university will occupy.
Webster President Elizabeth Stroble said moving into the Arcade building is a continuation of a 40-year partnership the university has had with downtown ºüÀêÊÓƵ.
“We know that vibrant cities depend on the educational opportunities and cultural offerings that universities provide,†Stroble said in a statement.
Dominium has agreed to buy the Arcade from the city’s Land Clearance for Redevelopment Authority for about $9.5 million. Fourteen months of construction will begin after the deal closes in about 30 days, officials said.
The Arcade building was built in the early 1900s, featuring a two-story vaulted arcade, and was used as one of the country’s first indoor shopping malls.
The building was designated a city landmark in 1980 and was listed on the National Register of Historic Places in 2003.
Webster is a private, nonprofit university based in Webster Groves.
Founded in 1915, the university operates 60 campuses worldwide.
Jeff Rainford, Slay’s chief of staff, said renovation of the Arcade could spur redevelopment of the nearby Chemical building, another old office structure slated for renovation as apartments.
“The Arcade makes the Chemical more likely and more doable,†Rainford said.
Tim Bryant of the Post-Dispatch contributed to this report.