urbanSTL

Another $200 million to be spent here:

Developer plans $200 million project near Galleria

By Tavia Evans

ST. LOUIS POST-DISPATCH

02/15/2006



A rendering of Valencia Place

(The Lawrence Group )



A St. Louis developer has unveiled plans for a $200 million project in Richmond Heights that will include a 17-story residential tower, townhouses, a hotel and retail space.



Pace Properties Inc. of Brentwood is planning to build the tower, called Valencia Place, with 98 condominiums, on Brentwood Boulevard, in a retail corridor that includes the St. Louis Galleria mall and several retail strip centers.



The project includes a 200-room hotel and about 110,000 square feet of street-level retail space. Pace Properties declined to release the name of the hotel operator.



continued

Source

Just saw this on Stltoday.com.



Very exciting!



I love what is going on with 'The Boulevard' and those developments near the Galleria.

The area around the Galleria wasn't typical for areas surrounding Gallerias in other cities.



Remember the KFC and Steak & Shake that used to be there? I can't wait for them to tear down those horrible strip malls (old Blockbuster). Those things make my eyes bleed.



Then once all of this is done they can repave Brentwood. The Galleria area will then look like a classy shopping establishment.

The part of the article that stuck out to me was this

Both phases have New Urbanism principles, which include dense populations living within walking distance of retail, schools, libraries, churches and parks

isn't this just called "urbanism"? Why do the New Urbanists get credit every time a developer puts a residence on top of a store? I realize the popularity of their developments may have something to do with people being comfortable with this type of project, but they're getting a mention for every development that isn't a strip mall. Maybe it's just the Post.

I know the Galleria is going to be remodeled throughout the interior, along with the food court renovation. I can't remember exactly, but I think there will be some exterior work done as well. I think it would benefit from some good landscaping. Maybe a fountain or two and some "yard art" (my term for art that is put in random places like the outside of a house, building, etc).

Just curious: does anyone know which school district receives the tax benefits of the Galleria and the Boulevard? Is it Clayton or Maplewood-Richmond Heights?



And is a TIF deal still running on the Galleria? It's been almost 20 years since they did that major expansion.

The Galleria and Boulevard are both within the Clayton School District and City of Richmond Heights.

Maybe I'm wrong but I don't think the Galleria and Boulevard's tax revenues go to the Clayton School district, even though everyone seems to think the Galleria is in Clayton...

School district boundaries usually vary from city boundaries, the City of St. Louis and St. Louis Public Schools being a rare exception. The Boulevard and Galleria are within the City of Richmond Heights, but the Clayton Public School District.

JCity wrote:Maybe I'm wrong but I don't think the Galleria and Boulevard's tax revenues go to the Clayton School district, even though everyone seems to think the Galleria is in Clayton...

Both are in Richmond Heights but it is all in the Clayton School District.

JMedwick wrote:Isn't the Gallariea about to reach the time for a major remodeling. I know they are doing all the work on the food court, but maybe if this is sucessful, a nice major outside componenet could be built along brentwood.

There is a super secret project planned for the South parking lot area but GGP is not giving any details.

LouLou wrote:Just curious: does anyone know which school district receives the tax benefits of the Galleria and the Boulevard? Is it Clayton or Maplewood-Richmond Heights?



And is a TIF deal still running on the Galleria? It's been almost 20 years since they did that major expansion.

The TIF on the Galleria was payed off 7-8 years ago. Note state law only allows property taxes to increase by 5% per year so it will take many years for the property taxes on the mall to catch up to the actual value.

any updates on the boulevard phase three? What was phase two? Any news on this so called secret plan in the parking lot noted in the above post?

Valencia will boost city's slumping population

Ryan Heinz

Of the Suburban Journals

Citizen Journal

06/07/2006



As of June 4, the doors of a model condominium residence were flung open to the general public for viewing and to start a pre-sale for the future Valencia at the Boulevard.



The model represents one of 113 units of varying sizes that will be a part of phase two of the Boulevard-St. Louis mixed-use development, located directly east from the St. Louis Galleria. The site is nestled between Brentwood Boulevard and Interstate 170 in Richmond Heights.



The occasion marked the beginning of what city officials referred to as an exciting time in Richmond Heights, given the city's potential to bolster a slowly dwindling population.



City Manager Amy Hamilton said the city always is looking for ways to improve its population.



"Ever since the 2000 Census, we've been under 10,000," Hamilton said. "Richmond Heights and the inner-ring suburb area has been losing population to more western expansion, so it's always very important that we maintain, if not try to increase, our population."



Hamilton mentioned Richmond Heights takes part in a complex sharing formula in which part of the city's earned sales tax is distributed to other municipalities in the county. In other words, the city has to give up a percentage of every tax dollar earned. Richmond Heights gets to keep a larger chunk of that percentage based on the size of its population.



Following 2000 U.S. Census statistics listing Richmond Heights' population at about 9,600 residents, Hamilton said the city's goal is to return to a population of 10,000 or more.



The Valencia, along with the proposed 500-condominium Manhassett Village development, could help the city do just that. Construction on both developments is set to begin this summer.



Read more

There is some scurrying going on about projects along Brentwood Blvd.



The hotels to be built at Clayton Rd. and Brentwood Blvd should have plans submitted Sept. 06.



A new project involving the properties in front of the University Club Towers is now in the discussion stage.



Pace is said to be gearing up to start Phase II. That is pending 50% sales/leasing of the space. Phase III is still up in the air.



The Metro station is ready to go and the train is scheduled to start operations prior to the Christmas season 06. The Metro station is within walking distance of both The Boulevard and the Saint Louis Galleria.



The Saint Louis Galleria (GGP) is still keeping the south lot project secret. Most of the exterior renovations are well under way. The change over of Famous Barr to Macy's is almost done and some kind of Salebration with the new signage to be unveiled in late August. No one is talking yet about what will go into the old Lord & Taylor space.

Wow...this project really got scaled down... at first it was to be 18-20 stories...and now it's only 15... It should still be a great development for brentwood rd.

The Curmudgeon wrote:There is a super secret project planned for the South parking lot area but GGP is not giving any details.

Yes, I might have a friend-of-a-friend that is an architect, whose firm may, or may not, be working on the project.



In any case, all you have to do to figure out what General Growth's plans for that space might be, is to look at their many, many other properties around the country. Let's just say that General Growth is now a born-again, devout convert to The Church of New Urbanism.

A couple of years ago, a student in the Washington U Architecture and/or Urban Design School did a design for what to do with the asphalt wasteland at the Galleria. I suppose it was for a class, or Master's thesis, not sure. It was rather interesting, with 4 to 6 story apartment buildings lining Brentwood, right up to the sidewalk, and some other mixed-use buildings south of the Galleria.

^"From of the mouths of babes"! That plan makes so much sense!

I'm beginning to think less and less that the Galleria is the "premier" shopping destination in st louis, besides frontenac.

I heard on NPR this morning that the Valencia project has been cancelled due to high construction costs??? Anyone know anything more about this???

There is an extensive article on the front page of today's Business Journal about this. I have not had time to read it but the headline says that presales were slower than expected and that construction costs continued to rise.