Updates / News /
Updates / News /
CityArchRiver Foundation, the non-profit organization helping coordinate and raise funds for the current renovation of the Gateway Arch grounds and the surrounding area, announced today that it has completed its $250 million capital campaign.
Reaching the $250 million mark means that the Foundation has raised $221 million in private funding for construction of the $380 million CityArchRiver project and an additional $29 million to seed an endowment that will help maintain and operate the park moving forward.
“The conclusion of this capital campaign marks an enormous showing of generosity for the Jefferson National Expansion Memorial and surrounding area,” said Maggie Hales, president and CEO of CityArchRiver Foundation. “This is the largest private investment in a national park since the renovation of the Statue of Liberty and Ellis Island in the 1980s. The St. Louis philanthropic community has again demonstrated its support and faith in all that St. Louis can and will be.”
The Foundation will now transition from its current role to helping maintain and enliven the new park into the future and continue to raise funds. The Foundation will partner with the National Park Service, Great Rivers Greenway, Bi-State Development, Jefferson National Parks Association and the City of St. Louis in an alliance that will keep the Arch grounds and surrounding area a vital, welcoming, well-supported resource to the community and nation for generations to come.
“Private donors have supported the initiative to reimagine the defining symbol of our region to the world in an unprecedented way,” said George Paz, chairman and CEO of Express Scripts and co-chairman of the fundraising campaign. “This was a unique opportunity to support a project that will change the way people experience the Arch and downtown St. Louis. We are very grateful for the success of this campaign.”
In addition to private support, $90 million of the $380 million project is funded through revenue from Proposition P, a ballot measure approved by St. Louis County and City voters in 2013 that also provides funding for regional parks and trails. CityArchRiver partner Great Rivers Greenway is the steward of the taxpayers’ investment in the project. Another $69 million of the capital costs of the project is funded through various public grants and funds from the U.S. Department of Transportation, National Park Service, Missouri Department of Transportation, Great Rivers Greenway, Bi-State Development and other agencies.
A full list of lead donors to the CityArchRiver Foundation is available here.
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