bonwich wrote:1. "Market forces" have little, if anything, to do with this project.
"Market forces" have little, if anything, to do with this project
TB1000 wrote:"Market forces" have little, if anything, to do with this project
Really?
So the demand and cost for office space won't affect it.
The interest rate on debt financing won't affect it.
The cost of materials won't affect it.
The demand for condos downtown won't affect it.
The fact that Cordish's other projects are stalled/lagging won't affect it.
Super. We have a big dirt patch and a proposed development that is immune to everything other than a bunch of rich people who can't come to an agreement on a cash cow development.
Do you believe that any of those factors stalled the project? Or, as your ending implies, do you believe that the whole thing is simply a negotiation for corporate welfare that is for the vast part independent of any of the "market forces" you discussed?
WOW! That's AWESOME! I knew they wanted a tower, but that's got to be 45 stories - at least!
MattnSTL wrote:Nevermind. I'm dumb. Just open the attachments.
FromTheLou wrote:If they are going to have BPV retail done by late spring 2008, they will have to get started quickly!
The Phase 1 of the Development Project will include approximately (a)360,000 square feet of retail and entertainment space, (b) 100,000 square feet of office space, (c) 250 residential units and (d) 1200 parking spaces, in addition to public pedestrian and open spaces. The projected development budget for Phase 1 is estimated to total approximately $387 million. Depending on market demand, additional development could add an additional 200,000 square feet of office space, 500 residential unis, 1,200 parking spaces, and other potential entertainment uses.
The second phase of the development project ("Phase 2" or the "Centene Phase" involves the relocation of the corporate headquarters of Centene Corporation...., and is anticipated that approximately 1,000 employees will be located in its new headquarters. Approximately 1,500 additional jobs are e3xped to be located in the non-Centene portion of the office space.
The Centene Phase is expected to consist initially of approximately 800,000 gross square feet of Class A office space, an approximately 180-room hotel, and approximately 1,750 structured parking spaces. The Centene Phase will be developed at a total anticipated cost of approximately $250 million. It is further anticipated that as marked and site conditions permis, and additional up to 550,000 square feet of office space may be developed on the Centene-owned property in the future.
Phase 1 of the Development Project is expected to be implimented and construction is expected to commence in late 2007 or early 2008 and to be completed in 2010; provided, however, that the anticipated completion date may fluctuate based on the Closing and other unforeseen events that may adversely impact the preliminary construction schedule. Furthermore, it is expected that a substantial portion of the implemented and construction is expected to commence in early- to mid-2009 and to be completed in 2010; provided, however, that the anticipated completion date may fluctuate based on the Closing and other unforeseen events that may adversely imact the preliminary construction schedule.
Interviews with downtown office brokers reveal that the south side of downtown has considerable marketing advantages over the north side. Because of its proximity to I-64 exit ramps and better parking space ratios, the south side of downtown, more or less surrounding the Gateway Mall, has greater appeal to downtown employees because it reduces commute times. Office buildings south of Chestnut Street have vacancy rates that are less than half of those to the north (7 percent compared to 15 percent), and command higher lease rates (about $2.44 more per square foot per year) than those to the north.
bpe235 wrote:Mark Lamping stated on "The Morning After Show" on 1380 this morning that BPV phase 1 WILL be open by the allstar game 2009.
PROVE IT!
