jlblues wrote:Post
To emphasize Moorlander's post and jlblues' inquiries, here's the full story about the project from Thursday's development meeting:
Clayton gets closer look at Brown Shoe development plans
By Margaret Gillerman
ST. LOUIS POST-DISPATCH
Saturday, Jun. 14 2008
Clayton — Brown Shoe Co., which moved its base to Clayton in 1952, seeks to enter a new phase as centerpiece of a $500 million office, retail and residential development revealed in detail this week to the city's plan commission.
The public and city officials posed serious questions about issues such as traffic congestion and tax abatement, but the overwhelming response of about 100 people at Thursday night's unveiling of the plans was appreciation for keeping the jobs here.
"It's a big project and a big idea," said Bob Clark, chairman and CEO of Clayco Inc., who made most of the presentation. "The main catalyst is to keep Brown Shoe in Clayton."
The company, founded in St. Louis in 1878, had considered leaving the area but announced this spring that it would remain.
Clayco is partnered with U. S. Equities and Hutkin Properties in the project. They would buy property from Brown Shoe, build a new headquarters campus and lease it back. Hutkin would secure high-end retail businesses.
The development "footprint" is to include the existing Brown headquarters, along Maryland Avenue just north of Clayton High School.
The project first needs approval of the plan commission and aldermen.
Clark said the expansion would:
— Nearly double the existing 630 jobs to over 1,300 jobs by 2012.
— Improve infrastructure for the community.
— Establish a "signature entrance" to the west side of Clayton.
— Solve traffic safety issues by providing a road to the community center that does not go through the high school parking lot.
The first phase, which could begin this fall, includes demolition of the 8500 Maryland Building — part of the existing Brown Shoe headquarters — and construction of a new headquarters building plus a 2,100-space public garage. The office building would have two sections, one six stories tall and one 18, joined by an atrium.
If the economy permits, a second phase would include:
— Condominiums or apartments in high-rise towers, one 18 stories and one 16.
— Two office buildings, one 14 stories and one eight.
— A second garage, with 2,170 spaces.
— 70,000 square feet of retail space.
— A 14-story residential tower, which could be a hotel, depending on the market.
Lucy Hoblitzelle, a neighbor, said at Thursday's meeting that while she welcomes the project, "I'm concerned about the building heights."
Another woman said, "You've got condos sitting in Clayton now that are not
selling."
Garbriella Farkas expressed concerns about the environmental impact of construction dust and noise.
Clayco's Larry Chapman said keeping the company was a coup, noting, "States would do almost anything to get Brown Shoe to move there."
Source: http://www.stltoday.com/stltoday/news/s ... enDocument
Regarding the other points previously at question:
- "Conveniently negative" refers to the propensity for many on this Forum to question whether or not anything will ever get done, and pessimistically rather than pragmatically. I look to many announcements based upon their business plans, an assessment of both credibility and risk to goodwill of parties involved, and personal knowledge I may have of such projects, although notedly rare but sometimes existent, in as pragmatically a manner as possible.
And yes, the precedent examples given (TBD, BPV, etc.) do necessitate strong questioning.
- I'm not Ron's doctor, but he's in good shape and planning on being with the company until he retires.
- Timeline is listed in the article.
- Brown Shoe is not planning on becoming a real estate development company, but they do have strategic interests in these projects starting, that is evident. I can't say much more beyond that, but I can say that the answer lies in your question. Ask yourself, to what end would it benefit them if there was new retail and office space next to their HQ?




