The debut this Thursday of the smaller but remodeled Macy's in downtown St. Louis is a part of a broader plan to rework the Railway Exchange Building.
New paint, carpeting, displays and merchandise lines are the main components of the store's face-lift, which began in early March. On Monday, workers continued to lay carpet in some areas.
The store is shrinking to three floors from seven at the Railway Exchange but will carry more clothing for office workers and more house
wares targeted at residents of downtown lofts and apartments. Gone are the store's furniture department and two restaurants. All 134 store employees remain.
Macy's signed a five-year lease for the store plus two floors of offices when developer RickYackey and Bruce Development of Clayton bought the 21-story building in August for $18.5million.
Yackey said Monday that now-vacant store space on the fourth floor would be converted to "class A" conference centers and a fitness area for tenants he hopes to attract to the largely empty building.
The pedestrian bridge over Olive Street will be the conference center's entrance, said Yackey, adding that he hoped the center would open in a year. The "more vibrant" Macy's will bring additional activity downtown, he said.
"I think that the store is going to do a lot better," Yackey said. "Macy's is committed to making it successful."
Macy's officials said the company was open to lease renewals.
Yackey and Bruce Development plan a $112 million renovation of the Railway Exchange. The city has approved up to $27.8 million in tax-increment financing, plus money from a community improvement district and a transportation development district.
Macy's officials won't divulge the cost of the store's remodeling, but city officials have pegged it at $5 million to $7 million.
The closing in 2008 of Macy's Midwest headquarters cost 850 jobs and left the building largely empty. Macy's has said the company's ability to sell the building to developers was a factor in its decision to keep the store open.
Melinda Nichols, the store manager, said Monday that Macy's tried to respond to customers' requests. Such requests led to the stocking of women's swimwear, which Nichols said tourists bought so they could use their hotel's pool.
"We work very hard to listen to what the customer tells us and relay that back to (Macy's buyers in) New York," she said.
(BY TIM BRYANT, St. Louis Post Dispatch) |
