urbanSTL

Now that would be cool. Everyone on here could buy a building, and we could have a model building of urbanism.

I have to say, I think that building may be my favorite in St. Louis. I recently rode my bike down there, and looking at that building from a southwest viewpoint is really impressive. For some reason it reminded me of San Francisco. I can't wait until the hustle and bustle of downtown returns.

steve wrote:I fail to see any conclusive (or even mildly persuasive) evidence that this property will be renovated for residential use. Any comments or proof to the contrary?

It's happening. Can't tell you how I know.



Current tenants, including the current building owner, will be consolidated onto floors 2 and 3. There is not enough parking on-site to support all condos, so it will be mostly apartments. The current retail, except for the fitness club, will remain.

Its good to hear that some of the development will be plain old apartments. Seemed to be something missing from the other developments.

awoehler wrote:

steve wrote:I fail to see any conclusive (or even mildly persuasive) evidence that this property will be renovated for residential use. Any comments or proof to the contrary?

It's happening. Can't tell you how I know.

There is a front page article in the St. Louis Business Journal today stating that a $22 million rehab of the 17-floor Chemical Building is coming and will include 68 market-rate apartments on floors 4-12 and 36 luxury condominiums on the remaining top floors. The building was purchased on January 03 for $6.6 million by a partnership of Los Angeles companies. Redevelopment is expected to start early this year and take about 12 months. Underground parking will be added with ground floor retail, while floors two and three will be reserved as office space and offered to current tenants of the bulding.

Excellent news. Interesting that parking will go underground. Isn't it unusual to add underground parking to an existing building? If everybody did that, we would not have to raze buildings for parking.

GOod to hear, I was worried that the area might not have enough parking.

LOL JMed. Can't ever have enough parking.



I'm glad they are offering the current tenants a chance to stay on, hopefully at some sort of discount, but I doubt it. This is one of my favorite buildings downtown and this development will add new life between Washington Ave and the future ballpark village.

You are right brick. I have always enjoyed driving down 8th street from north to south and with the rehab of this building, it will make it clear that the 7th and 8th street corridor is the best stretch to move from north to south in downtown. THe ballpark village, work on the Cupples, and a new Roberts tower. Now all the area needs is some help on the gateway mall and it will be one of the best streets in the city.

I really like the idea of having office and commercial space on the first 2 or 3 floors. I've noticed several of the loft projects around town are doing it. Really helps keep the building active at all times.

EXCLUSIVE REPORTS

From the January 13, 2006 print edition



<A HREF="http://stlouis.bizjournals.com/stlouis/ ... .html">New formula for Chemical Building</A>

$22 million rehab completes last piece of Old Post Office district

Lisa R. Brown



The new owners of the 17-story Chemical Building downtown plan to turn the more-than-century-old office structure into luxury condominiums and apartments.



Civitas Development of Los Angeles, a joint venture between Heisman Properties and Crossland Capital Partners, also of Los Angeles, closed on its purchase of the building Jan. 3 for $6.6 million.



Principal Rob McRitchie said Civitas will spend $22 million to acquire and redevelop the 177,000-square-foot building located at 721 Olive St. "This building represents some of the best historical architecture in the downtown core," McRitchie said.



<A HREF="http://stlouis.bizjournals.com/stlouis/ ... tory1.html">>>> read more</A>

I've always marveled at the Chemical Building with its wonderful bay windows. I'm glad current tenants are being offered space instead of being booted out and the restaurant is staying. Sounds like a good company and a sweet deal.

The rehab of the Chemical building was briefly featured tonight on the channel 2 news. No information that we didn't already know though.

I saw that and I'm glad they seemed to be very supportive of it and mentioned that there were several other developments downtown.

Dissapointing that the developers felt the need to change the name. The plans sound pretty solid though. Though I don't quite get the quote "we think St. Louis is ready for that."



NEW DIGS: Two new condominium developments in and near the city's center are taking shape.



The Chemical Building is about to be dubbed the Alexa by its new owner, Heisman Properties of Los Angeles. The developer is planning to turn the 17-story building at Olive and 8th streets, familiar for its bay windows, into a 91-unit condominium building with a round-the-clock concierge and valet.



"We think St. Louis is ready for that," said Heisman partner Rob McRitchie. The developer is planning to build a park, complete with grass and trees, atop the second floor, at the elbow of the L-shaped building.



Story

I like the development, but boo on the name change. I always liked the sound of the Chemical Building, but I guess someone wouldn't like to live in one? Alexa sounds like some sort of ED drug.

Alexa = ROTFL!

brickandmortar wrote:Alexa sounds like some sort of ED drug.

Or a Billy Joel song.

The Alexa is a terrible name. Hopefully, though, it will wear off like so many other devlopments. They're usually just marketing ploys for the first round of tenants anyway. I really can't imagine St. Louisans referring to this building as "the Alexa" in ten years. At least I hope not.



"We think St. Louis is ready for that." Oooh. That really got me going. Patronization is one thing I really can't stand. If she had made this statement three years ago, fine. This is one of the problems with, for lack of a better term, "big money." They rely soley on studies and demographic reports that fail to take into account what's actually going on on the street. It's like Borders. They could have opened a store by now, helping build momentum and be doing brisk business. Instead, they'll wait till their analysts from Chicago or wherever inform them that, on paper, downtown St. Louis is a "mature market," i.e., too late. Ugh.



OK, enough of me venting. I love this building, and everyone knows I'm partial the the OPO area, so I'm pumped.

brickandmortar wrote:I like the development, but ...Alexa sounds like some sort of ED drug.

If Alexa sounds like a Drug name, then what the heck is Chemical?

The Chemical Building.... sounds kind of Gotham City-ish. I like it, personally. But then again, I'd like to live in one of the warehouses on the north riverbank. It'd be so cool to have a nice condo or loft inside on of those old buildings. Alexa sounds like something with a list of side effects.

To tell you the truth, it sounds like Spyware.



Like Alexa which tracks computer use.











Or one of my neighbors.

As with everyone else here, Alexa sucks. Not only does it not fit the chemical, it wouldn't fit 4545 Lindell. If people aren't cool enough to think "chemical building" sounds cool, then they aren't cool enough to live in this building. maybe just the number would be fine 721. then again, that's kind of played out.

Sounds like the developer named it after his daughter. And we all know how well that turned out with the arena at Mizzou!

If Alexa sounds like a Drug name, then what the heck is Chemical?

If Chemical sounds weird as the name of a building, imagine it as the name of a bank. The building was built for the Chemical National Bank but never occupied it. Also the building contains some of the last cast iron decoration installed on a building in downtown.