Downtown Mall in Foreclosure
By Tom Weber, KWMU
St. Louis – The St. Louis Centre is in foreclosure. The downtown shopping mall has been struggling for years.
The move could mean an overhaul for the center. St. Louis Mayor Francis Slay said he got a letter in the last week informing him of the foreclosure.
The mall opened in the mid 1980's, but has struggled to keep stores.
Slay said the current owner, Whichard Real Estate of North Carolina, hasn't done much to improve the property since owning it. He said a foreclosure is a chance to sell it to someone else.
"I've already talked to someone recently who is very close to buying that property and doing something with it," Slay said. "This stuff doesn't happen overnight, but I'm real encouraged by what I'm seeing in the immediate area around the St. Louis Centre."
Slay would not say who is interested in buying the building. Whichard Real Estate has not been reachable for comment.