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City Group Sees ‘Real Estate Development Opportunities’ in Lambert Airport Privatization

By on November 30, 2018

From St. Louis Business Journal:  A consultant to the city of St. Louis said Wednesday that Lambert airport could see significant “real estate development opportunities” if the facility is privatized.

“There are some potentially interesting development opportunities associated with the airport, i.e., potential real estate development opportunities related to the unused land around the airport,” Glenn Muscosky, managing director of Moelis & Company, said at a city Board of Estimate and Apportionment meeting. “(There’s also) available capacity on the new runway that exists that private investors could conceivably look at as a way to drive further volumes at the airport. (Thirdly) there’s still potential for new retail opportunities at the airport.”

Mayor Lyda Krewson asked Muscosky about reports that a deal to lease city-owned St. Louis Lambert International Airport could fetch $2.5 billion or more.

“We wouldn’t want to advertise the price of the market for the competitive positioning perspective,” he said. “We’ve only started negotiations with airlines and that’s a critical piece of the valuation. We’ve begun but have not concluded our diligence around retail (and other) opportunities that exist with the airport.”

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