Exactly what a centralized 1 party Marxist ideas wanted to stop and change. The abnormal colonial thinking, thus allowing top global richest to disproportionately obtain and keep all that they cannot spend fully. Real estate has always been intertwined w Western capitalist's infinite history. A skyscraper is in its own category. And homeless housing is for tax payers not the rich.GoHarvOrGoHome wrote: ↑Nov 19, 2021It would be interesting to see this used as institutional housing for the universities and hospitals along the metro line.
Can be used as a mega dorm, temp housing for prospective students or parents, even event and meeting space on top floors. If SLU, WashU, and UMSL can find a way to use 5-7 floors each we are most of the way there. Give another few floors to BJC, College of Pharmacy, Webster, and whatever downtown or Clayton company that can use workforce housing for temp contractors and boom we have a full tower.
Downtown STL used to be a safe busy clubs and bars most notably, Washington Ave., which is now a sore spot and regular drunk groups are loud. Some places u live you should be well aware if your DT loft is a daytime only city. Yes, St. Louis is.!!whitherSTL wrote: ↑Sep 18, 2021But not south STL, correct?dbInSouthCity wrote: ↑Sep 18, 2021Lol, are you serious? The lack of growth is because we have abandoned half the city. Investing in outside the central corridor will only spur not only city growth but regional growth.chris fuller wrote: ↑Sep 18, 2021And the new focus of the mayor's office on development outside the central corridor adds to the risk.
https://www.ksdk.com/article/news/local/business-journal/att-tower-why-buyers-walking-away/63-beb9d7d1-3337-4d03-bb2c-ae3eb8457ae2
the new corporate real estate. New deregulated industry. Today can start using timber at a lower elevation. Thus, many new apartment complexes have concrete 3 stories high and build wood apartments on top, and the stark walls were mostly a car garage, and 3 stories below ground.Laife Fulk wrote: ↑Dec 29, 2021Apples and oranges - the soccer development parking would have been able to take advantage of a site that already was sunk below the street level on either side thanks to the prior ghost interstate ramps. It would have been less "below ground" and more just "ground level" with the practice fields built on top. Less digging down and more just moving earth around a much larger site.
The Mark Twain is holding out, I can't believe they haven't sold for surely 100s of offers. Past 10-20 years it made thru the giant revival of highrise condos and lofts downtown.! But the Mark Twain is a legendary place of STL. Helping the homeless off for a week or for years. All used to have a job and paycheck stubs to get a room...and it is a very clean building...for the indigent without credit, first and last month plus security. It is not an OPEN drug den. A safe place for those with a record or after jail, no family.gone corporate wrote: ↑Dec 29, 2021@STLinCHI has the right idea here. The biggest problem for 909 Chestnut is parking. It used to be serviced by the AT&T garage 2 blocks west. However, since AT&T moved out, and since those skybridges were torn down, there's no parking at 909 except for a few underground. I wish they could have built parking under what's now the City Garden, and definitely under the Serra Sculpture block. If that's not an option, then here's one that works.
1. Buy the Mark Twain Hotel, on the other side of Pine from 909 Chestnut.
2. Shutter it. Mostly a dilapidated long-term stay for transients these days anyways (FYI A search for registered sex offenders at this address is ridiculous). The damn thing's a liability to rehabbing 909 Chestnut as it is.
3. Tear it down. Again, not that big a historic loss in its current condition. Half that block is already cleared for parking as it is.
4. Build a parking garage on it with ground level retail, including restaurant spaces. Yeah, I know, people are against any and all parking garages. I don't like them, either. Still, they're necessary - broadly speaking for this city/metro area, and directly for the immediate and outstanding needs of 909 Chestnut.
Solve parking, and the rest of this redevelopment will follow. I say keep it an office building, just renovate it so it can be multi-tenant. With all the excess fiber optic connectivity under that site, it could be quite attractive to all the new technology companies in the area.
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That STL Mag article was funny.
But in all seriousness... anyone know who this buyer is yet?
https://www.ksdk.com/article/news/local ... be21f7fc7a
But in all seriousness... anyone know who this buyer is yet?
https://www.ksdk.com/article/news/local ... be21f7fc7a
Well, here we are in calendar Q2 and nothing yet. Also, What is up with all the boarded windows at least 400ft up the north facade?
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From who? Seems like it would be pretty easy to trace the hole in the wall to the hole in the window and line it right up to the source.
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^ ? the shooter is long gone. it would just trace back to somewhere on the street. not sure how that helps.
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https://www.bizjournals.com/stlouis/new ... ffice.html
AT&T tower, downtown St. Louis' largest office building, has a new owner, according to city documents
A document filed last week with the city of St. Louis shows that the 1.4 million-square-foot tower at 909 Chestnut St., which has been vacant since sole tenant AT&T moved its employees in 2017, changed hands April 25.
**ownership of the tower switched from DC based CWCapital to MTP-909 Chestnut PropCo LLC. Entity formed on March 31st and registered in Delaware. Signed by Fergus Campbell a principal of SomeraRoad.
AT&T tower, downtown St. Louis' largest office building, has a new owner, according to city documents
A document filed last week with the city of St. Louis shows that the 1.4 million-square-foot tower at 909 Chestnut St., which has been vacant since sole tenant AT&T moved its employees in 2017, changed hands April 25.
**ownership of the tower switched from DC based CWCapital to MTP-909 Chestnut PropCo LLC. Entity formed on March 31st and registered in Delaware. Signed by Fergus Campbell a principal of SomeraRoad.
https://someraroadinc.com/SomeraRoad is an opportunistic commercial real estate investment and development firm focused on identifying dislocation and mispricing, while maintaining an entrepreneurial mindset with a rich workplace culture. SomeraRoad is based in Nashville and New York City but invests in markets across the United States. Our projects are diversified across all asset classes, U.S. geographies, and within financial products throughout the capital structure. We aim to create asymmetric, high-return investment opportunities through proprietary sourcing strategies and intensive value-add.
Strange that they’re buying it because I recall they were one that previously looked at it but then walked away. Guess they reconsidered
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I don't know what kind of injection of hope I am supposed to glean from this.
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Let's hope "the reconsider" means something has changed that has tipped some proverbial scale.
Chris, did you hear any word on what they were planning when they originally considered? It appears their projects focus on apartments over retail, thinking they'll need to bring more than that to this property (hotel?).
Somera Road has a wide variety of projects in their background (office, retail and residential). I imagine what will be seen here is a mixture of those three + a hotel. Not sure what they planned before but if anyone planned solely office space, then no wonder why things didn't work.pdm_ad wrote: ↑May 03, 2022Chris, did you hear any word on what they were planning when they originally considered? It appears their projects focus on apartments over retail, thinking they'll need to bring more than that to this property (hotel?).
I hope they do the sky deck experience once mentioned with a hotel and residential.
A Dave and Busters or something similar will work as well. We shall see!! Great news I guess!
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A Dave and Busters or something similar will work as well. We shall see!! Great news I guess!
Sent from my iPhone using Tapatalk
Our lack of big office buildings may turn out to be a blessing in disguise for the future of Downtown.
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I assume they have a plan already but they also got this thing so cheap at sitting for 5 years on it isn’t out of question.
Agreed. Cheap enough to sit on and dump 5-10 years later if they aren't able to make it work. Hopefully they have a plan but I wouldn't hold my breath.dbInSouthCity wrote: ↑May 04, 2022I assume they have a plan already but they also got this thing so cheap at sitting for 5 years on it isn’t out of question.
My realistic cycnical aligns with dblnsouthcity thought that it so cheap that the developer thinks why not and if all else fails, it makes a good write off in a few years if one of their other deals has a windfall.
But have to like JJ and STLinCHI optimism. Their was no zero chance anything with the debt holders hanging onto 909 so a much needed silver of hope.. So the gamble might pay off big if you think in terms of STLinCHI is saying. Maybe not in office space but to build out that much square footage that high in today's material and inflationary cost environment is not going to happen in Downtown, nor Clayton and more importantly, probably not in many Midwest cities. It might finally garner some attention with new ownership.
Then add in JJ thoughts, put hotel on top 14 floors or so with lobby/amenities/fitness room followed by rooms on 11 floors and then Dave & Busters and observation deck/lounge taking up the very top three floors. Dave & Busters might just be game to try something different for one of their next venues and they would have the name recognition and financial muscle to pull it off. Believe that leaves 28 floors to split between office/residential and or my pitch of a vertical data farm if floor plates can handle the load/added HVAC.
But have to like JJ and STLinCHI optimism. Their was no zero chance anything with the debt holders hanging onto 909 so a much needed silver of hope.. So the gamble might pay off big if you think in terms of STLinCHI is saying. Maybe not in office space but to build out that much square footage that high in today's material and inflationary cost environment is not going to happen in Downtown, nor Clayton and more importantly, probably not in many Midwest cities. It might finally garner some attention with new ownership.
Then add in JJ thoughts, put hotel on top 14 floors or so with lobby/amenities/fitness room followed by rooms on 11 floors and then Dave & Busters and observation deck/lounge taking up the very top three floors. Dave & Busters might just be game to try something different for one of their next venues and they would have the name recognition and financial muscle to pull it off. Believe that leaves 28 floors to split between office/residential and or my pitch of a vertical data farm if floor plates can handle the load/added HVAC.