Dead. Still a good site for something similar or better, eventually, but that one ain't happening.dbInSouthCity wrote: ↑Jan 22, 2024if this is still happening, this whole area would explode with more development in 2025
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yeah, Midas is focusing on their 3 downtown west hotel projects
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The nexstl article is still pretty fresh. What do you know that they don't?
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This is at site at Jefferson and Chestnut, not the AHM project. It was proposed few years ago by Midas but my source at Midas said they aren’t focused on it right now. They are trying to get the 2 hotels at Jefferson and Market going and the 14th Street Sheraton.STLEnginerd wrote: ↑Feb 02, 2024The nexstl article is still pretty fresh. What do you know that they don't?
As far as the AHM project, I think it’s 70/30 chance at happening, financing could still fall apart
These projects most definitely won’t happen this year, it’s still trying to get financials in place.
Getting financing for ground up new construction is very difficult right now, a developer in Minneapolis said rents would have to raise there 15-20% to justify it
Locally I think renovations that can get historic tax credits for large chunk will move forward but everything else may have to wait another year or 2
Getting financing for ground up new construction is very difficult right now, a developer in Minneapolis said rents would have to raise there 15-20% to justify it
Locally I think renovations that can get historic tax credits for large chunk will move forward but everything else may have to wait another year or 2
For what it's worth, I've heard that they are pretty close to getting the 65 unit (give or take) on Washington closed. GeoTech was onsite last week drilling core samples. In general, I completely agree. Development deals are hard to get done right now and there are a myriad of issues that could cause all three DTW projects to never get out of the ground.dbInSouthCity wrote: ↑Feb 02, 2024This is at site at Jefferson and Chestnut, not the AHM project. It was proposed few years ago by Midas but my source at Midas said they aren’t focused on it right now. They are trying to get the 2 hotels at Jefferson and Market going and the 14th Street Sheraton.
As far as the AHM project, I think it’s 70/30 chance at happening, financing could still fall apart
Deals have definitely slowed down but they are still getting done in MPLS. Very different fundamentals compared to STL. BTW, I would take anything Sean Sweeney says with a grain of salt.dbInSouthCity wrote: ↑Aug 26, 2024These projects most definitely won’t happen this year, it’s still trying to get financials in place.
Getting financing for ground up new construction is very difficult right now, a developer in Minneapolis said rents would have to raise there 15-20% to justify it
Locally I think renovations that can get historic tax credits for large chunk will move forward but everything else may have to wait another year or 2
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Equity partner is on board for these, still tbd if it will start by end of year but it’s looking good
Timber tower included?dbInSouthCity wrote: ↑Aug 29, 2024Equity partner is on board for these, still tbd if it will start by end of year but it’s looking good
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Stl PR - $232 million mixed-use development near CityPark to break ground next year
https://www.stlpr.org/economy-business/ ... -next-year
https://www.stlpr.org/economy-business/ ... -next-year
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The two existing buildings are 2101 and 2109 Locust. The new builds are on the vacant lots on that block and the one across 21st. The only demo was 2120 Washington.
Great to see, really excited about this project and the continuing transformation of DTW.
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^2nd'd - glad to see these apartments filling up and new ones filling in the pipeline - let's keep em coming!
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I do agree this a great news. I feel like a stronger connection from downtown, through downtown west, midtown and the CWE will hopefully help increase demand in downtown. The N-S project through here really helps create some great connectivity. PLEASE let this take off sooner than later.
Excellent newsquincunx wrote: ↑Oct 23, 2024Stl PR - $232 million mixed-use development near CityPark to break ground next year
https://www.stlpr.org/economy-business/ ... -next-year
So it looks like the tower and the 5 over 1 are slated to break ground next year? that is a lot of transformative construction
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I was really beginning to doubt that mass timber tower. Glad to see it moving forward.
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Awesome for downtown west! That’s a lot of new units and makes the Jefferson line better! Plenty of lots and rehab opportunities to keep adding residents. Another move that could get development doing into North City as there is basically just emptiness up to NGA.
Question - Is 29 stories the “economic” high rise with the best margins similar to the 5 over 1 is to mid rises? Everyone seems to want to build 29 story buildings nowadays.
Question - Is 29 stories the “economic” high rise with the best margins similar to the 5 over 1 is to mid rises? Everyone seems to want to build 29 story buildings nowadays.
The project costs (hard and soft) are spread across more units making the project theoretically more feasible. The flip side is that you have more units to lease at top of market rents.delmar2debaliviere2downtown wrote: ↑Oct 24, 2024Awesome for downtown west! That’s a lot of new units and makes the Jefferson line better! Plenty of lots and rehab opportunities to keep adding residents. Another move that could get development doing into North City as there is basically just emptiness up to NGA.
Question - Is 29 stories the “economic” high rise with the best margins similar to the 5 over 1 is to mid rises? Everyone seems to want to build 29 story buildings nowadays.
Believe the engineered wood frame timber tower is actually a cheaper build in terms of materials and constructability. But it has taken some time for building codes, fire codes and the engineering to catch up with the thought of taking wood construction vs traditional 5-6 stories using 2x4s from the sawmill.
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^ I don’t think the initial cost is cheaper. A lot of factors but I think at best it’s about the same.
In their presentation in 2022, they said the building weighs 50% less and thus a less substantial foundation is needed, and it can be constructed 20% faster and saves thousands of trucking miles compared to using concrete. Sounds like that would lower costs.
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if it weren't cheaper what would be the advantage instead of steel/concrete construction, except maybe materials availability?
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