Newspaper article St Louis Post-Dispatch (MO)

CityArchRiver Reaches $250 Million Goal for Renovation of Arch Grounds

Newspaper article St Louis Post-Dispatch (MO)

CityArchRiver Reaches $250 Million Goal for Renovation of Arch Grounds

Article excerpt

ST. LOUIS * The campaign to raise $250 million in private funds for the renovation of the Gateway Arch grounds announced Tuesday it has reached its goal.

The nonprofit CityArchRiver Foundation said it will use $221 million toward the $380 million in construction costs and $29 million "to seed an endowment that will help maintain and operate the park moving forward," according to a statement.

Major donors include Enterprise Holdings, Emerson, the McDonnell family trust and Monsanto. CityArchRiver did not release the amount of individual donations.

Maggie Hales, president and chief executive of CityArchRiver, called it an "enormous showing of generosity" from donors. She said it is the largest private investment in a national park since the renovation of New York's Statue of Liberty and Ellis Island, in the 1980s.

George Paz, chairman and chief executive of Express Scripts and co-chairman of the fundraising campaign, said the project "will change the way people experience the Arch and downtown St. …

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