I just checked out the available units on their web site - there are currently 27 out of 133 units reserved - roughly 20%.
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From the "media day" they had a couple months ago ..
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looking down the shaft at the remains of the elevator car
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looking up
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while we were there, the workmen uncovered this, it had been framed inside the wall.
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i wish .. but they made us stay on the 1st floor
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the media .. i dont think they used this 'dripping water' shot
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looking down the shaft at the remains of the elevator car
looking up
while we were there, the workmen uncovered this, it had been framed inside the wall.
i wish .. but they made us stay on the 1st floor
the media .. i dont think they used this 'dripping water' shot
- 11K
DeBaliviere wrote:I just checked out the available units on their web site - there are currently 27 out of 133 units reserved - roughly 20%.
^ pics are awesome. This should be a commerical hub (IMO) - a pharmacy, some food - things that would bring in foot traffic!
Any sense whether 27 of 133 is a lot? I've seen some advertising, but don't have a feel for how well this building is be marketed/received.
- 623
When did sales officially begin?
I get the feeling this is one of the most heavily marketed new rehabs, with billboards, lots of print (even a regional ad in Vanity Fair), seems like everywhere I look.
This could be a separate topic, but it would be great to see several downtown properties buy time on those Sunday morning home showcase programs. It would be cool to see these great downtown units appear right after the same old McMansions that fill those shows week after week after week.
I get the feeling this is one of the most heavily marketed new rehabs, with billboards, lots of print (even a regional ad in Vanity Fair), seems like everywhere I look.
This could be a separate topic, but it would be great to see several downtown properties buy time on those Sunday morning home showcase programs. It would be cool to see these great downtown units appear right after the same old McMansions that fill those shows week after week after week.
Received an email from Arcarde today that said a pool will now be placed on the 12 floor. Didn't give any other specifics. Obviously potential buyers didn't like sharing the Paul Brown pool.
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Perhaps that has something to do with the hotel component. If a luxury brand located here than sharing the pool with a neighboring building just wouldn't work.
- 10K
DeBaliviere wrote:I just checked out the available units on their web site - there are currently 27 out of 133 units reserved - roughly 20%.
They're up to 31/133 - 23%
Some of the paper has been removed from the front windows on Olive - if you want a sneak peek of the old shopping arcade, you can now see it through the glass.
- 11K
This is an absolutely fantastic space, but they'll need equally impressive signage to get people to rediscover, and then frequent, it.
- 10K
Grover wrote:This is an absolutely fantastic space, but they'll need equally impressive signage to get people to rediscover, and then frequent, it.
Very true. It's going to take some creativity in the design of the main entrance.
Great pictures. It is going to feel good to have this building and retail space back.
While touring The Arcade I found that they are pushing for their pre-sales and are offering some great incentives. First move-ins have been pushed back until Spring 2010 due to some plan changes including the addition of a pool, a dog walk and additional rooftop amenities. It seems like they are really sticking to their guns to make sure the renovation honors the building's architectural integrity. This is a very cool project!
Please post in the existing thread, and for the love of god, please do not post in all caps.
I love this building. I think if St. Louis must have an indoors mall, this building should be the place. It's so beautiful and intimate, I know it would make a great destination. Only problem is the walk space is so narrow...
They are offering $5K in upgrades that can be used towards flooring, plumbing, lighting, tile...whatever you want!
according to their website they haven't sold a single unit since november
based on someone elses post in november
based on someone elses post in november
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re: Projects Up In The Air
Original thread: www.urbanstl.com/viewtopic.php?t=5455
After posting on the above thread earlier today, I have been asked to repost my analysis of the delays in construction to the appropriate threads individually. This posting relates to the delays in funding of the major new construction and certain redevelopment projects in the Downtown Saint Louis area, which would include the Pyramid projects, such as the Laurel, as well as Skyhouse and the Ford.
That construction has stalled on all of these projects makes absolute perfect sense.
For years, the economy has been capitalizing on incredibly lax lending standards, including and especially individual mortgage holders who’ve overextended themselves. This has been further exacerbated with the secondary markets’ selling of investment products based upon collateralized mortgage obligations, basically banks selling the interests in mortgages wholesale for investment. When these collapsed, it took down hedge funds as well, to the tune of $400 billion.
This resultant full-blown collapse in the US credit markets, and now the Euro credit markets, has greatly impacted the availability of either liquid or collateralized capital that can be used to fund major expansion projects like these. We’ve had a great history of rehabilitation projects, backed by state-supported and federally-supported tax credit programs for ancillary support of financing. While these programs remain strong and aren’t expected to disappear, their role as ancillary funding sources remains. Banks are still the primary source for capital in these development projects. As banks are in the doldrums of the credit market crash (and yes, it is a full-blown crash), it’s hard to place that $50M bridge capital to a fully-occupied building.
The establishment of a base population within these buildings is what will separate these projects from being a sound investment from a purely speculative enterprise. Only with a firm foundation in actual sales and revenues will a beleaguered lending institution be able to support such an allocation.
Problems relating to delayed construction are absolutely not Saint Louis-centric. It is endemic.
These companies want to finish their projects, which remain profitable ventures for them as well as local development to our benefit. While they may have cuts in marketing budgeting expenditures, the continued sales of interests in their projects and acceptances of commitments remain. I believe we can expect all these projects to continue, although these impediments to proper funding sources mean they will have delays to final completion. During this time, we must remember to look macro as well as local.
Also, I’m new to posting on this forum; please excuse the simplistic linking at the top as I learn proper encoding procedures.
Original thread: www.urbanstl.com/viewtopic.php?t=5455
After posting on the above thread earlier today, I have been asked to repost my analysis of the delays in construction to the appropriate threads individually. This posting relates to the delays in funding of the major new construction and certain redevelopment projects in the Downtown Saint Louis area, which would include the Pyramid projects, such as the Laurel, as well as Skyhouse and the Ford.
That construction has stalled on all of these projects makes absolute perfect sense.
For years, the economy has been capitalizing on incredibly lax lending standards, including and especially individual mortgage holders who’ve overextended themselves. This has been further exacerbated with the secondary markets’ selling of investment products based upon collateralized mortgage obligations, basically banks selling the interests in mortgages wholesale for investment. When these collapsed, it took down hedge funds as well, to the tune of $400 billion.
This resultant full-blown collapse in the US credit markets, and now the Euro credit markets, has greatly impacted the availability of either liquid or collateralized capital that can be used to fund major expansion projects like these. We’ve had a great history of rehabilitation projects, backed by state-supported and federally-supported tax credit programs for ancillary support of financing. While these programs remain strong and aren’t expected to disappear, their role as ancillary funding sources remains. Banks are still the primary source for capital in these development projects. As banks are in the doldrums of the credit market crash (and yes, it is a full-blown crash), it’s hard to place that $50M bridge capital to a fully-occupied building.
The establishment of a base population within these buildings is what will separate these projects from being a sound investment from a purely speculative enterprise. Only with a firm foundation in actual sales and revenues will a beleaguered lending institution be able to support such an allocation.
Problems relating to delayed construction are absolutely not Saint Louis-centric. It is endemic.
These companies want to finish their projects, which remain profitable ventures for them as well as local development to our benefit. While they may have cuts in marketing budgeting expenditures, the continued sales of interests in their projects and acceptances of commitments remain. I believe we can expect all these projects to continue, although these impediments to proper funding sources mean they will have delays to final completion. During this time, we must remember to look macro as well as local.
Also, I’m new to posting on this forum; please excuse the simplistic linking at the top as I learn proper encoding procedures.
Just interior demo and abatement. The building has been delayed about 6 months.
Gone Corporate wrote:re: Projects Up In The Air
Original thread: www.urbanstl.com/viewtopic.php?t=5455
After posting on the above thread earlier today, I have been asked to repost my analysis of the delays in construction to the appropriate threads individually. This posting relates to the delays in funding of the major new construction and certain redevelopment projects in the Downtown Saint Louis area, which would include the Pyramid projects, such as the Laurel, as well as Skyhouse and the Ford.
That construction has stalled on all of these projects makes absolute perfect sense.
For years, the economy has been capitalizing on incredibly lax lending standards, including and especially individual mortgage holders who’ve overextended themselves. This has been further exacerbated with the secondary markets’ selling of investment products based upon collateralized mortgage obligations, basically banks selling the interests in mortgages wholesale for investment. When these collapsed, it took down hedge funds as well, to the tune of $400 billion.
This resultant full-blown collapse in the US credit markets, and now the Euro credit markets, has greatly impacted the availability of either liquid or collateralized capital that can be used to fund major expansion projects like these. We’ve had a great history of rehabilitation projects, backed by state-supported and federally-supported tax credit programs for ancillary support of financing. While these programs remain strong and aren’t expected to disappear, their role as ancillary funding sources remains. Banks are still the primary source for capital in these development projects. As banks are in the doldrums of the credit market crash (and yes, it is a full-blown crash), it’s hard to place that $50M bridge capital to a fully-occupied building.
The establishment of a base population within these buildings is what will separate these projects from being a sound investment from a purely speculative enterprise. Only with a firm foundation in actual sales and revenues will a beleaguered lending institution be able to support such an allocation.
Problems relating to delayed construction are absolutely not Saint Louis-centric. It is endemic.
These companies want to finish their projects, which remain profitable ventures for them as well as local development to our benefit. While they may have cuts in marketing budgeting expenditures, the continued sales of interests in their projects and acceptances of commitments remain. I believe we can expect all these projects to continue, although these impediments to proper funding sources mean they will have delays to final completion. During this time, we must remember to look macro as well as local.
Also, I’m new to posting on this forum; please excuse the simplistic linking at the top as I learn proper encoding procedures.
The companies that move forward in a thoughtful, deliberate manner that provide a quality product and service should prevail.
Those who are looking for a quick buck with the least amount of effort will hopefully just disappear.
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MattnSTL wrote:Just interior demo and abatement. The building has been delayed about 6 months.
i am so going soon.
This is a secured construction site. I would not recommend going in to take pics. If you're caught I would think you would for sure be prosecuted for trespassing. And trust me, those hard hat signs are up for a reason. I've had stuff fall on my head in buildings undergoing interior demo. Hard hat saved me from injury. Don't know what this building is like, but they are not like exploring abandoned building. I repeat, the Arcade is actively being worked on.
- 185
drove by, definitely not happening. thanks for the heads up too.MattnSTL wrote:This is a secured construction site. I would not recommend going in to take pics. If you're caught I would think you would for sure be prosecuted for trespassing. And trust me, those hard hat signs are up for a reason. I've had stuff fall on my head in buildings undergoing interior demo. Hard hat saved me from injury. Don't know what this building is like, but they are not like exploring abandoned building. I repeat, the Arcade is actively being worked on.