A survey crew was working on the Old Schnucks lot Monday morning 08/28/06.
- 8,912
that survey crew was back today...I sure hope this means something is in the works...
I'd really like to see something happen here soon...This place is an eyesore on a prime corner... I'd like to hear some of your predictions as well as your creative ideas for this space...
Considering the value of the site, high-rise residential is the obvious choice for any developer. But considering the already-congested intersection, I expect LOTS of opposition from those living in Hampton Park, The Moorelands, and Lake Forest.
This could prove to be a tough site to develop.
This could prove to be a tough site to develop.
- 11K
^ True. I think it's a bad site for retail - the in and out with the traffic would be a hassle. Residential seems like it would be fine.
- 8,912
I'd like to see a modern new residential tower 10 stories +...
I thought I'd heard/read the owner of the land wants an obnoxious amount of money: some value that would be the highest ever seen in St. Louis on a sq ft per dollar basis.
^Which is why, economically, any development on the site will have to be very dense. Which is why I expect a lot of neighborhood opposition. Which is why the site will be very difficult to develop. Which is why the owners are having a hard time selling. Which is why such a terrific site will probably continue to sit vacant for quite a while.
- 1,768
bpe235 wrote:I'd like to see a modern new residential tower 10 stories +...
For the amount of money he's asking {approx. 12 mil) ayou would have to be WAY over 10 storys to make this worth while.
WHich is why no one has bought it. Too expensive land + too expensive sbuidling costs = no interest.
- 11K
^ I know that this happens other places, but it seems to be rampant in St. Louis. A single developer (family/person/whatever) has a valuable piece of land they sit and sit and sit on it - maybe it's their retirement fund? I'm all in favor a "market value" assessment on the property and then a forced sale. Heck - give them a 10-20% premium, but don't let them sit on it for a decade or more. Like the lots at Lindell/Kingshighway there should be a bit more of a develop it or sell it attitude.
- 1,768
Look, hes got 3.5 acres of land at Clayton and Hanley, contiguous. If he wants 3.75 mil an acre, more power to him. I would have said 2.5-3, and it probably would have sailed off the block.
He'll get it...eventually. Theres too much real estate speculation and loose capital out there for him to drop his price. Good for him, though, that hes the patient type.
He'll get it...eventually. Theres too much real estate speculation and loose capital out there for him to drop his price. Good for him, though, that hes the patient type.
I have a feeling this lot will still be sitting empty in 10 years.
The only thing I could see getting past the NIMBYs in the Moorlands is a 4 story condo complex like what was built just to the west. And at $13 million for the land, the numbers just don't work.
The only thing I could see getting past the NIMBYs in the Moorlands is a 4 story condo complex like what was built just to the west. And at $13 million for the land, the numbers just don't work.
can you say "eminate domain". It may happen if they continue to sit on prime land.
courtland wrote:can you say "eminate domain". It may happen if they continue to sit on prime land.
I'm betting the city of Clayton will be big-time gun shy about ever using eminent domain after the whole Centenne debacle.
- 1,610
Of course, the corner of Lindell and Kingshighway has been nothing more than parking for over 50 years.
- 8,912
dweebe wrote:I have a feeling this lot will still be sitting empty in 10 years.
The only thing I could see getting past the NIMBYs in the Moorlands is a 4 story condo complex like what was built just to the west. And at $13 million for the land, the numbers just don't work.
I can totally see this being an issue!
But remember the building on the lot north of this site is probably at least 10 stories, and there is one a few lots north on hanley that is even taller. Also remember that many of the residents in the Moorlands are renters.- 11K
I can see 10-15 stories, but the asking price would dictate something taller and ultra-luxury to have it make $en$e.
bpe235 wrote:dweebe wrote:I have a feeling this lot will still be sitting empty in 10 years.
The only thing I could see getting past the NIMBYs in the Moorlands is a 4 story condo complex like what was built just to the west. And at $13 million for the land, the numbers just don't work.
I can totally see this being an issue!
There are plenty of condos in there. Plus I'm sure some of the big land lords (Red Brick, Philip H Baron etc) could raise a lot of ruckus.
- 8,912
dweebe wrote:bpe235 wrote:dweebe wrote:I have a feeling this lot will still be sitting empty in 10 years.
The only thing I could see getting past the NIMBYs in the Moorlands is a 4 story condo complex like what was built just to the west. And at $13 million for the land, the numbers just don't work.
I can totally see this being an issue!
There are plenty of condos in there. Plus I'm sure some of the big land lords (Red Brick, Philip H Baron etc) could raise a lot of ruckus.
Yes I know, I'm one of them. It is definately more apartments than condo's though for sure. It is becoming more and more condos every day as alot of $ can be made off conversions. I think it's probably more of a traffic thing though.
It's not just the Moorelands folks who will object. Remember, there's some awfully expensive mansions just across Clayton Road. I would imagine those people will have something to say about it, too.
Framer wrote:It's not just the Moorelands folks who will object. Remember, there's some awfully expensive mansions just across Clayton Road. I would imagine those people will have something to say about it, too.
But that's Maryland Heights: Clayton Road is the dividing line. I don't think they can really do much.