urbanSTL

^ I'm sure Nelly and some of his local clones will want in on the action too.

dweebe wrote:Maybe redneck woman Gretchen Wilson can keep her Christmas light up all year long on her Ballpark Village condo.

Or my neighbors on Pernod could just move there. Still rockin' the Xmas lights in February...

^lol, I'll have to look for that tonight since it will look and feel like Christmas.

In between Regal and Macklind, I believe. Pretty damn festive.

Gorgeous. I am keeping my fingers permanently crossed in hopes that we get something close to what we see, at least in terms of height.

Very nice. I count about 30 floors on the tallest tower. That would really help balance-out the skyline.

That is going to be one sweet development! I showed my gf and she was asking me if I would live with her in one of the apartments or condos. As long as the development is built to look like the renderings I would have no problem. I just fear that the developers will short change it and it won't be as successful as it should be. It will only be huge if it is built huge.



I checked out the full scale model of this development and the tallest tower roughly matched the height of the Bank of America tower at 384 feet, so this should really bulk up the downtown skyline on the southern end where it needs it most.

I really like the 2 shorter towers on the west5ern side of the development. There is something classy about the square grid on those buildings that says "city" to me. Put an elevated train next to them I might actually confuse it with Chicago

I thought there wasn't going to be any condos in the 1st phase.

No, I think the city just removed the requirement that there be condos. I think Cordish wanted to to a market study or something to determine the correct ratio of offices to condos. Or something like that.

I really like how the buildings step back to allow some daylighting to filter into the development at various levels - reminds me of the old Lever House in New York (conceptually at least). I am very interested in seeing some detail on these building designs, but it appears they are moving in the right direction - very exciting. Thank you to the Cardinal ownership for hiring a development consultant that knows what they are doing.

I just dont think that any market study will show that they cannot support the maximum amount of condos that they projected at first. This is possibly the most favorable site in STL!

wheelscomp wrote:I just dont think that any market study will show that they cannot support the maximum amount of condos that they projected at first. This is possibly the most favorable site in STL!

But that's why you do the market study...

buckethead wrote:

wheelscomp wrote:I just dont think that any market study will show that they cannot support the maximum amount of condos that they projected at first. This is possibly the most favorable site in STL!

But that's why you do the market study...

Umm, don't you think that they would have done that market study two plus years ago, BEFORE they were selected as developer and started negotiating with the city. Of course they did, and they have done a few more market studies by now. That, as a reason for any delay or vague information about the project, is ludicrous.



I suspect part of the foot-dragging is that Cordish isn't a residential developer. They don't know what they are doing in that arena and they want to go with what they know, which is the low-hanging fruit of retail and office. Residential development is much more difficult to forecast, and carries much more risk, at least in their eyes, so they will avoid it until other new residential construction goes up around downtown, and around their project, and they have actual results to study. Needless to say, their residential will command a much higher price once BV is up and running, and Cupples Station and Pointe 400 are full. Of course they will also have more competition then...



My prediction is that we won't see any significant residential commitment from them until after Phase 1 is up and running and full. Not the way I would do it; I would think they would want to capitalize on the excitement generated by construction and retail tenant announcements to generate condo sales, but then my daddy and granddaddy didn't hire me and all of my siblings to run their development company...

jlblues wrote:

buckethead wrote:

wheelscomp wrote:I just dont think that any market study will show that they cannot support the maximum amount of condos that they projected at first. This is possibly the most favorable site in STL!

But that's why you do the market study...

Umm, don't you think that they would have done that market study two plus years ago, BEFORE they were selected as developer and started negotiating with the city. Of course they did, and they have done a few more market studies by now. That, as a reason for any delay or vague information about the project, is ludicrous.



I suspect part of the foot-dragging is that Cordish isn't a residential developer. They don't know what they are doing in that arena and they want to go with what they know, which is the low-hanging fruit of retail and office. Residential development is much more difficult to forecast, and carries much more risk, at least in their eyes, so they will avoid it until other new residential construction goes up around downtown, and around their project, and they have actual results to study. Needless to say, their residential will command a much higher price once BV is up and running, and Cupples Station and Pointe 400 are full. Of course they will also have more competition then...



My prediction is that we won't see any significant residential commitment from them until after Phase 1 is up and running and full. Not the way I would do it; I would think they would want to capitalize on the excitement generated by construction and retail tenant announcements to generate condo sales, but then my daddy and granddaddy didn't hire me and all of my siblings to run their development company...

I agree. I'm sure they did a market study two years ago, but as you know a lot can change in 2 years so I'd bet they want another one to re-evaluate (and I'd guess what ever type of development they are leaning towards in phase one the report would magically confirm it).

This links directly to a LARGE pdf, but the MoDESA market study for all components of BPV (including residential) is in the larger development plan document located here...



http://stlcin.missouri.org/Document/ald ... BB4071.pdf



Rather than guess about its contents and conclusions, download it for your casual reading pleasure.



The residential market study begins on page 114 of the PDF.

^ seems to be only 10 pages

The item you want to look at is the attachement and it is almost 200 pages.



The market analysis takes up about 85 pages of the attachment and is pretty interesting reading.

If you want to borrow it, I have the entire document in a nicely bound book. In short, there's not really much to worry about as far as the residential market. But the potential office market is also very strong. We're basically repeating this over and over now.

Not sure of the status, but seems they could at least put up a couple of big "Coming Soon" signs with the renderings.

I assumed construction would start once the weather changed, guess I was wrong...



I hope this doesnt turn into another bottle district

It's really sad that there isn't even any activity. And we've got the All Star game coming in? They aren't going to be ready.