What is General Growth Properties? It’s one of the largest Real Estate Investment Trusts (REITs) in the country. It owns or manages 200 million square feet of retail space around the country — including department stores, smaller retail shops with national names, ice rinks, and theaters.
Earlier today, I attended an announcement that General Growth will be working in St. Louis as part of John Steffen’s downtown Mercantile Exchange project.
More than seventy street-level locally-owned retail stores have opened downtown in the past four years. Adding the mainstream retailers that General Growth will bring to MX is the next step major step forward in growing our downtown retail.
The kinds of new and major retail stores that General Growth will bring downtown will enhance the City by providing those who live here with more opportunities to buy what they want and need in our City, and by making downtown a great destination for visitors and businesses.
General Growth’s interest in downtown is yet another sign that the City’s revitalization is attracting positive attention all over the country.