Developer new to St. Louis buys massive Downtown West apartment complex for $73M

A multifamily developer new to St. Louis has purchased one of the region's largest apartment complexes for more than $73 million. The complex has more than 700 apartments. Mills is led by Chairman Bruce Mills and CEO Kirk Mills. Gateway at CityPark takes its name from CityPark, the Major League Soccer stadium that will host its first matches for new MLS team St. Louis City SC in the spring. Developers have planned more than $500 million in developments in the area surrounding the stadium known as Downtown West, including the $130 million renovation of the historic Butler Brothers building, which will be converted into more than 300 apartments known as The Victor. As part of the recent $28 million in upgrades, Mills added a new parking structure, plumbing infrastructure, roofs and elevators, the real estate advisory firm said. The apartments, once known as Plaza Square, were first built in 1960. The company sold one of the buildings to Clayton-based Capstone Development Group, which rehabbed it into senior apartments called CityParc at Pine.