A rendering of a marina and other development proposed by Nashville-based M2 Development Partners on a 67-acre site along the Mississippi River just north of the Chain of Rocks Bridge.
ST. LOUIS — A developer is eyeing a patch of ground on the city’s northernmost tip for an entertainment destination featuring a marina, waterpark, hotels and restaurants.
says it plans to acquire the 67-acre site just north of Interstate 270 at 11000 Riverview Drive for the project, which it is calling “Lighthouse Landing.â€
Tim Morris, managing principal of the firm, told a city commission Thursday that his company sees a "huge opportunity for a world-class marina."Â
M2, which describes itself as an international real estate development and investment company, says it is in discussions with prospective entertainment users, and it cited the planned ºüÀêÊÓƵ Zoo WildCare Park 1.5 miles to the north as a major draw to the area.Â
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The firm lists plans for a $500 million-plus downtown Nashville, Tennessee, development anchored by a Ritz-Carlton, though .
The ºüÀêÊÓƵ Port Authority on Thursday approved a resolution to begin negotiating a development agreement and potential incentives for the riverfront project.
The site has been the focus of grand plans before, including a lighthouse, boat ramp, hotels and restaurants pitched in 2015 by developer Adam Hartig. The land was formerly the site of the North Shore Golf Course until the flood of 1993 destroyed it. Casinos, then developers have eyed the site for years but were unable to make it work.
But city development officials sound hopeful M2’s plan could finally produce results on the empty patch of ground.
“There is a lot of positive momentum surrounding development opportunities in the Port Authority district,†said Neal Richardson, executive director of the ºüÀêÊÓƵ Development Corp., which runs the Port Authority. “SLDC is very excited about Lighthouse Point, which will continue to transform our riverfront, bring training and quality job opportunities to the citizens of ºüÀêÊÓƵ and invest in the revitalization of North City.â€
The site has been raised out of the flood plain since past development proposals, in part with fill dirt the city paid the owners to dump on the site after the city landfill on Hall Street closed.
The site has been owned since 1998 by Discovery Pier Land Holdings LLC, which is registered to Beth Daniele. Her husband, Tony Daniele, and another partner, Mark Repking, have pitched the site for projects for over a decade. Tony Daniele, a former city police officer, at one point bought the old riverboat “Belle of the Night†and moved it next to the property as part of his plans. It later broke from its moorings and was caught by Coast Guard towboats. It was later scrapped.
Morris said the current owners undertook a “Herculean effort†to raise the site and extend utilities to the land.
“The table’s set now to move this process forward and it will be quite a successful project,†Morris said.
M2 does not yet have site control but is close to finalizing a purchase agreement. It hopes to begin construction in the second quarter next year.Â
The proposal from M2 Development to buy the site is the second major redevelopment proposal for sites along the Mississippi River that have sat underutilized for years. Last month, a development group led by Greg Gleicher — a Washington University graduate who worked in New York real estate development — pitched plans for the empty lots and warehouses of Chouteau’s Landing south of the Gateway Arch.
The north riverfront site, Morris said, was brought to M2's attention through a "longstanding relationship we’ve had with the union building trades.â€Â
M2 Development said it is working with Local 1 of the International Brotherhood of Electrical Workers on a deal that could use a union real estate investment program to help finance part of the Lighthouse Point project.
Updated Thursday at 10 a.m. with new information from the developer.
