Goldman Group managing partner Charles Goldman's roughly $350 million plan to convert the long-vacant AT&T Tower at 909 Chestnut Street to residential and mixed use. The project depends on Missouri's state historic preservation tax credit - originally awarded in 2024 and now expanded under HB 3080 (signed by Governor Kehoe on July 13, 2026) - and on the still-unimplemented Innovation Zone program, whose statewide credit is capped at $50M per year. 909 Chestnut is one of only two Missouri buildings over 1 million square feet on the National Register (the other being the Railway Exchange Building, PS-3), making it a specific intended beneficiary of HB 3080's large-property credit category. Missouri DED is still drafting the Innovation Zone implementing rules; Goldman says the state has told him to expect them by mid-2027. St. Louis has not yet drawn its innovation zone boundary.
| Source | Amount | Mechanism | Status |
|---|---|---|---|
| Missouri state historic preservation tax creditSt. Louis Magazine - credit originally awarded in 2024; dollar amount not confirmed in reporting; HB 3080 (signed July 13, 2026) expanded terms to 35% for large historic properties with $60M+ in credits available | Amount unconfirmed ⚠ 2024 award letter/amount not yet pulled |
State historic tax credit (35% for large properties under HB 3080) | Awarded 2024; expanded by HB 3080 |
| Innovation Zone conversion-expense creditMissouri HB 3231 - statewide cap $50M/year across all participating projects; Missouri DED still drafting rules (expected mid-2027); St. Louis has not drawn zone boundary | Up to 25% of conversion costs ⚠ Program not yet operational |
State Innovation Zone tax credit | Pending (rules not finalized) |
| Six-year credit spread (2025 law)2025 Missouri state law amendment - allows credits on buildings over 1M sq ft to be spread over 6 years instead of claimed in one year; bipartisan, sponsored by Rep. Travis Wilson and Sen. Steve Roberts | N/A (timing provision) | State law amendment (credit timing) | Enacted 2025 |
The 2024 historic tax credit award amount has not been confirmed against the actual award document. No filing under HB 3080's new large-property category has been reported as of this research pass - the bill is barely two months old. Whether a Chapter 353 or other local abatement ordinance has been filed with the Board of Aldermen has not been confirmed.
No litigation found in public reporting as of this record. The prior 2024 historic tax credit expansion (HB 2062) was struck down entirely by a Cole County judge over an unrelated, unconstitutional provision about backyard chicken coops violating Missouri's single-subject rule - stranding real projects mid-transaction. HB 3080 restored and expanded the program, but the legislative history is relevant context for any project depending on these credits.
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