M2 Development Partners, LLC (M2DP) UnveilsPreliminary Plans for Lighthouse Point Mixed-Use & Entertainment Destination Development on the Mississippi River in North St. Louis, MO
St. Louis, Mo. (September 8, 2022) – At the Port Authority Commission of the City of St. Louis’ September 8 Board Meeting, M2 Development Partners (M2DP), a Nashville-based real estate development and investment firm experienced in developing large mixed-use projects across the U.S., announced its pending acquisition and plans for the development of Lighthouse Point, a 67.51-acre Opportunity Zone Designated site located at 11000 Riverview Drive in North St. Louis, MO, directly on the Mississippi River.
“There is a lot of positive momentum surrounding development opportunities in the Port Authority district. SLDC is very excited about Lighthouse Point, which will continue to transform our riverfront, bring training and quality job opportunities to the citizens of St. Louis and invest in the revitalization of North City,” said Neal Richardson, Executive Director of the St. Louis Development Corporation (SLDC).
M2DP is currently in discussions with several prospective destination and entertainment type users for the project to include a marina, waterpark, themed hotels, restaurants, limited supporting retail and much more. M2DP’s development of this incredible site will mesh well with the natural beauty of the Mississippi River and will provide a long-term economic development driver for the region that will also support the new Saint Louis Zoo WildCare Park, which is only 1.5 miles from this site and expected to open in 2026. “We anticipate connectivity between the two projects will create a regional attraction that draws visitors to St. Louis to benefit the City and the County, which is exciting for the entire region,” Richardson added.
“M2DP’s plans for Lighthouse Point are aligned with SLDC’s economic development objectives. We expect it to stimulate new infrastructure investment in North St. Louis, create 450+ new, living wage paying jobs and expand the tax base,” said Richardson. “The preliminary funding resolution being considered by the Port Authority Commission allows staff to perform our due diligence to evaluate the planning and development of the site without using City funds. SLDC looks forward to the opportunity to partner with M2DP to bring this exciting regional attraction to the St. Louis riverfront.”
M2DP plans to create a Jobs Training Center dedicated to training applicants for positions onsite. Additionally, the International Brotherhood of Electrical Workers (IBEW) has several investment programs it utilizes to provide diversification to members’ pension and welfare funds and to promote living wages for working families across the country. One program is the Electrical Capital (ECAP) program. The ECAP program is jurisdictional specific and focuses on the secondary and tertiary real estate markets throughout the U.S. The program provides financing for to-be-developed or significantly rehabilitated real estate developments that utilize IBEW members and National Electrical Contractors Association (NECA) signatory contractors.
IBEW Local #1, through its labor and management trustees, recently committed to fund an ECAP program in the greater St. Louis area and M2DP is currently in discussions with ECAP & IBEW Local #1 to be an investor in the Lighthouse Point Project.
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For more details about and images of M2DP's Lighthouse Point Development Proposal, click here.