The Victor, located in St. Louis’ Downtown West/City Commons neighborhood, has been named a winner of the Urban Land Institute’s 2026 Americas Awards for Excellence, one of the real estate industry’s most prestigious honors.
The $130 million adaptive reuse of the former Butler Brothers Building was developed by Memphis-based Development Services Group, Inc. (DSG), in collaboration with St. Louis-based architecture, planning, urban design and interiors firm Trivers. PARIC Corporation served as the project’s general contractor.
The Victor was one of only nine projects selected to receive the Americas Award for Excellence from entries across North and South America.
For nearly 50 years, ULI’s Awards for Excellence program has recognized outstanding development efforts in the private, public and nonprofit sectors. The awards evaluate the full development process—not architecture and design alone—including financing and capital structure, use of tax credits, project complexity, marketplace acceptance, economic impact, community engagement, innovation and sustainability.
Winners are selected by a jury of ULI members and industry leaders representing a broad range of professional disciplines and geographic regions. The honored projects reflect the highest standards of achievement in land use and development and encompass a wide range of property types, project sizes, investment levels and locations.
“We are honored that The Victor has been recognized among the most outstanding developments in North and South America,” said Gary Prosterman, president and CEO of DSG. “This award is a tremendous accomplishment and a testament to the vision, perseverance and collaboration of the DSG, Trivers and PARIC teams, as well as our many financial and community partners. What pleases us most is that we transformed a landmark building that had stood vacant for more than 20 years into a thriving residential community. Today, between our residents and office tenants, there are approximately 500 people of different ages, backgrounds and professions who call The Victor home and have created a vibrant community within the building.”
Built in 1906 and listed on the National Register of Historic Places, the approximately 735,000-square-foot Butler Brothers Building was once a major commercial hub within St. Louis’ former Garment District. Through its transformation into The Victor, the building has been reimagined as a full-service residential community featuring extensive spaces for living, working, wellness and recreation.
Amenities include a grand lobby, an interior courtyard, a state-of-the-art fitness center, separate yoga and Pilates studios, a golf simulator, an entertainment room with billiards, a gathering kitchen and coffee bar, a dog park and lounge, and a pickleball court.
The building also features an expansive rooftop terrace with a swimming pool, sundeck, rooftop bar, grilling areas and multiple gathering spaces offering views of downtown St. Louis.
Bringing The Victor to life required a sophisticated financing structure that was carefully coordinated to satisfy construction, historic preservation and regulatory requirements. The transaction brought together lenders, equity investors, public agencies, tax credit investors and third-party consultants.
Katelyn Hansen, vice president of community development banking at Bank of America, described the project as representing “institutional-quality execution across capital structure, risk management and community impact.” She added that the transaction demonstrates how public and private capital can be combined responsibly and creatively to deliver a transformative development.
A central priority of the adaptive reuse was preserving the building’s historic character while thoughtfully integrating its original features into a contemporary residential environment. Trivers conducted extensive research into the history of the building and the surrounding neighborhood and worked closely with DSG and the broader project team to retain defining elements of the property.
“The Victor is a powerful example of thoughtful adaptive reuse and of what can be achieved through successful public-private partnerships,” said Trivers Principal Joel Fuoss, FAIA. “We are grateful to ULI for this recognition and for the opportunity to help realize DSG’s vision for returning a building of extraordinary historic significance to productive use for the benefit of the entire St. Louis community.”
Among the building’s preserved features are its light-industrial architectural character, historic brick exterior and distinctive terra-cotta detailing. Today, The Victor serves as a key anchor within Downtown West, one of St. Louis’ most dynamic and rapidly evolving neighborhoods.
