Las Vegas company turning part of a St. Louis tower into timeshares

ST. LOUIS, Mo. - A Las Vegas-based company is investing in St. Louis.  They're confident that it's a place that families will want to visit year after year.

Diamond Resorts is buying a portion of the City Place Hotel next to the Gateway Arch.  The St. Louis Post-Dispatch reports that the company is buying six floors of the 29-story building and converting them into luxury apartments, hotel rooms and vacation ownership units.

Diamond Resorts says the tower will become one of its "flagship urban destinations" once the redesign is complete.  That's expected to be sometime in 2020.

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