ST. LOUIS — An ornate downtown St. Louis building that stands out with its red brick, elaborate design and intricate teal ground floors is about to get a makeover.

Restoration St. Louis has entered into a letter of intent to acquire the 17-story Chemical Building at 721 Olive Street—that’s next door to the newly renovated Hotel Saint Louis, which was revamped by the same group. They plan to expand the hotel into the old building.

Right now, it’s vacant.

By the end of 2020, the old Chemical Building is expected to be filled with 84 additional guest rooms, 72 luxury apartments, a ballroom, restaurant and a rooftop bar. It'll be connected to Hotel Saint Louis by a street-level pedestrian walkway.

Work is expected to begin this fall and take approximately a year. The renovation is expected to cost $54 million.

The building is on the National Register of Historic Places and was designed by Henry Ives Cobb in 1896.

“With the development of the Chemical Building, we will be expanding the visibility and vitality of our region’s downtown footprint, increasing the fun factor one block at a time for both residents and visitors alike,” said Amy Gill, co-founder of Restoration St. Louis.

Gill, along with her husband Amrit Gill, led the charge in renovating the former Union Trust Building, which is now known as Hotel Saint Louis. They called the building a treasure, working to take what was old and make it new again with 140 hotel rooms, the Union 30 restaurant and rooftop bar, Form Skybar.

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“These two buildings, architectural wonders made all the more special by the fact they are just a few feet apart, also represent the essence of our mission – restoring a vacant landscape and transforming it into a revitalized neighborhood that, as St. Louisans, we can all be proud of,” Amy Gill said.

The Hotel Saint Louis renovation cost $71 million. It’s owned and operated by Restoration St. Louis and is an Autograph Collection Hotels by Marriott—the first of its kind in St. Louis.

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