ST. LOUIS, Mo. (First Alert 4) – Two downtown parking garages near Kiener Plaza are under new local ownership, with plans to renovate the structures and fill vacant commercial space.
The Kiener East and West garages, which sit just north of Kiener Plaza and span two city blocks, were purchased by the Arch to Park Equity Fund in partnership with local investors. Together, the garages hold 2,300 parking spaces and 75,000 square feet of commercial space, but only 20% of that space is currently occupied.
New ownership, immediate changes
Dustin Allison, who leads the Arch to Park Equity Fund, said the visitor experience begins the moment someone steps out of their car.
“I grew up in St. Charles County, coming down for a ball game, if I park in a parking garage and I get out of my car and go to the elevator and it smells like beer and it’s not clean and it doesn’t feel good, then my whole experience downtown has kind of started downtown on a negative note,” Allison said. “We [want] the experience downtown, right when you get out of your car to be a positive one.”…