Located at 200 S. 4th St. adjacent to the noteworthy St. Louis Gateway Arch, the Millennium Hotel’s redevelopment project aims to become an exciting destination for locals.

The Gateway Arch Park Foundation went under contract to buy the hotel late Wednesday. McClure declined to disclose the sales price and said that a closing date is not yet known.

ST. LOUIS — The owner of the Hyatt Regency St. Louis at the Arch has less than two weeks to dodge a looming payoff deadline for $93 million in debt secured by the 910-room downtown hotel ...