urbanSTL

I don't know for sure but I think that large multi-family apartment financing is more favorable and easier to attain, with non-recourse options available for highly qualified sponsors like this project would have, which is probably the main reason the project is planning apartments vs. condos. The same probably goes for the one on Kingshighway as well.

I agree that the ability to sell condos in this location seems like a pretty safe bet, but unless they are willing to build them on spec and with a significant equity component (not that it couldn't be done), a condo project would require a much longer ramp up and pre-marketing timeline with a number of pre-sales required. Likely rising interest rates over the next 12 months may be a bigger negative to condos than apartments as well.

With all that said, it certainly seems like at least one of the phases should contain a condo component, whether its a within a segment of a larger mixed use building or a stand-alone signature condo project.

Long-term interest rates have been marching steadily downward since 1981. They might go up soon, but don't count on it.

Reasonable Timeline for the Project...
1. Ground Breaking in August 2017
2. Cranes for the Tower and Office Building up by November
3. Framing begins to go up around December/January
4. Leasing on the Residential and Retail Space will begin in February/March 2018
5. Phase 3 Details announced in June/July 2018
6. The Market Pavilion begins construction in August 2018
7. Office Building Topped Out I November 2018
8. Residential Tower Topped Out in January 2019
9. The Market Opens first in April 2019
10. The other 2 buildings open in September 2019
11. Phase 3's process of approval and construction begins in December 2019.

I believe Phase 3's details will come out during construction because the Residential Tower will be nearly leased and the demand will be high to live there. It already appears it is high based on Social Media comments of people wanting to live there.

I got a follow-up email today asking if I would participate in a Ballpark Village Phase II survey. I said yes, and they arranged a 1 hour phone call survey with me scheduled for Monday.

I already did my interview. It was easy.


Sent from my iPhone using Tapatalk

What did they ask? I assume they are probing for renters or buyers for the tower. Is that right?

gary kreie wrote:What did they ask? I assume they are probing for renters or buyers for the tower. Is that right?

For me they asked things like ,"What kind of amenities would you like, What kind of set ups, and what kind of tower community events should we have?" It was all centered around those 3 questions but it went into more detail.

My questions were similar. What amenities would I want. They are planning apartments, not condos. Some things they are considering are outdoor and indoor group areas, on the 8th floor with a view of the ballpark, and then have events like a cooking events, a garden outdoors, etc. They asked what first floor businesses would be attractive. I said retail stores like we used to have downtown -- clothing, etc. They are thinking wine bar, specialty restaurant, etc. The reviewer was in Maryland and didn't seem to know that there are already a lot of restaurants in Ballpark village.

She said 2/3 of the apartments would have a view of the ballpark. The other 1/3 toward the arch. They asked about dealbreakers for us, and we said we needed secure parking for at least one car and maybe a 2nd car nearby. If we lived there full time, we wanted 2 bedrooms, 2 baths. And a balcony. We also said we needed a washer and dryer in the condo, not down the hall or downstairs. (Not sure they were planning that for apartments.) My wife suggested a fulltime manager on site. We also would like a workout room. We also asked if they would allow subleasing -- such as airbnb. She didn't know. We would like that option.

They asked for demographics, such as our age and income ranges if we didn't object. For income range they started with $50K to $75K. I told them I thought these would be hot items and would rent quickly and might climb out of that range. I'm no sure she realized these were going to be a little more popular than other downtown properties, not being from here. So it was interesting, and they are sending us a $50 gift card for participating.

^ My interviewer, which was a man and knew a little about the project stated that they were thinking about a Technology Store or a bar in the base of the building and other Shops and Cafes in the Office Portion. I ended the phone call with what we can expect next and be was very nice and stated that Cordish was looking into some other things with the Cardinals that "fit the needs in Downtown" but that is all he said. I to will also receive a Gift Card.


Sent from my iPhone using Tapatalk

chaifetz10 wrote:Probably just a market research company hired by Cordish did the actual calls and interviews. I doubt they have any real information other than the bullet points and FAQs provided by Cordish. Still a good sign that they're taking serious interest into amenities and future demands in terms of retail.

That's probably who does the calls now but the phone number had a Baltimore area code and the man said that he was from Cordish on the phone but you never know.

Michael Calhoun of KMOX contacted me Monday to talk with him about the survey for a KMOX radio piece which aired today. Michael says he contacted me because he saw my post here on urbanstl.com. Here is a link to the online piece he wrote on the same subject.

http://stlouis.cbslocal.com/2017/02/02/ ... s-desires/

Do we know if we'll get a final product soon?


Sent from my iPhone using Tapatalk

So a Shake Shack may be opening in the existing BPV building...

https://www.stlmag.com/dining/shake-sha ... -location/

I think Ballpark Village needs to move away from food following a possible Shake Shack. We need some retail there. There is a huge amount of dining options already, time to move away.


Sent from my iPhone using Tapatalk

Agree. BPV should go after Urban Outfitters or something like that.


Sent from my iPhone using Tapatalk

PwC said to discuss moving into new Ballpark Village office

http://www.bizjournals.com/stlouis/news ... lpark.html

So to get all the tax breaks the jobs need to be new, unless the tenant threatens to move out of the city, then they can count as new. So expect PWC to threaten to move soon.

One of my associates has a connection to Ron Waterman of the Cardinals and he (my associate) said that Ron told him that Phase 3 will be announced sometime during the Phase 2 construction, probably towards the end of the Phase 2 construction process. Phase 3 is supposed to finish the whole project up


Sent from my iPhone using Tapatalk

Now we're talking. So, three 500+ ft towers right chris?


Sent from my iPhone using Tapatalk

user28 wrote:Now we're talking. So, three 500+ ft towers right chris?


Sent from my iPhone using Tapatalk

The tallest building is supposed to be at the corner of Walnut and Broadway and be around 450 feet tall. The Middle lot is supposed to be similar in height to the Tower Going in now, around 360 feet and the last lot at Walnut and 8th will have a tower similar in height to the west tower of the Hilton. So nothing to dramatic, but according to him, it is very early on and costs are already exceeding $430 Million bringing the total cost of the project up to the expected $750 Million.

reminds me a bit of the old renderings. I wonder if they are still using those as inspiration for the new buildings or not.









Just for reference

450' tall at Broadway & Walnut? That would look amazing on the skyline!

user28 wrote:reminds me a bit of the old renderings. I wonder if they are still using those as inspiration for the new buildings or not.









Just for reference

Just noticed in the last image that the bier garden on the east side of ballpark village has been sacrificed for the residential tower base. Wonder if they'll reincorporate the bier garden into the new tower.


Sent from my iPhone using Tapatalk