In only four months, Midas Hospitality – a leading hotel development, management and investment firm – raised $35 million mainly from St. Louis area investors for its Midas Opportunity Zone Fund. Midas Hospitality’s newest project brings the first hotels to the St. Louis’ Cortex innovation district and Prospect Yards community.
MC Hotel Construction, a sister company to Midas Hospitality, is the general contractor for both hotels. The Tax Cuts and Jobs Act recently created a new law which provides tax incentives for Opportunity Fund investments like Midas Hospitality’s Cortex undertaking. “The success and excitement building in and around the Cortex, as well as the need for these attractive hotels in that area, were a huge draw for our prestigious list of investors,” said Midas Hospitality’s Co-Founder J.T. Norville.
MC Hotel Construction, which is also located at 1804 Borman Circle Dr. in Maryland Heights, Mo., specializes in hotel construction and renovations with projects underway across multiple states. Founded in 2006, Midas Hospitality specializes in the development, management and investment of award-winning hotel properties across the U.S. The firm focuses on select-service and extended-stay experiences for global brands including Hilton, Marriott, and IHG. Midas’ headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo..