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The finance committee Monday recommended council approve the proposal. Officials with Steadfast City of St. Louis, the firm hired to redesign the landmark downtown structure, are proposing a $34.5 million project that includes apartments with offices along with a bowling alley, bar and malt shop in the basement. The request for proposals will be finalized shortly, said Nikki Posterli, director of community planning and economic development and the mayor’s chief of staff. Councilwoman Anita Davis, D-6th Ward, asked if an outline of the request would be given to council. Posterli said it will be once it is finished. The search is supposed to begin April 1 with a developer selected by mid-October, said Doug Rasmussen, Steadfast’s president. ....
YOUNGSTOWN – A firm hired by the city envisions a $34.5 million overhaul of 20 Federal Place with apartments mixed with office space on four floors and a bowling alley, bar and malt shop in the basement. But it wouldn’t be the city, which has owned the downtown building for more than 16 years, making the improvements. Instead, Steadfast City, the St. Louis firm hired to create the vision, would search for developers interested in the building starting April 1 and with one expected to be selected by mid-October, said Doug Rasmussen, the company’s president. The city purchased the building at 20 W. Federal St. in November 2004 after Phar-Mor, a once prominent national retail store company, went out of business. Before it was the Phar-Mor Centre, the company’s corporate headquarters, it was the flagship location of Strouss’ department store for many decades. ....