They use the elevated walkway for patients, right? I totally see the need to have a climate controlled connector to the rest of the medical campus - especially if you start thinking about people in wheel chairs going from one building to another and then back.
^^^
"he project includes a parking garage with a capacity of 1,860 vehicles, large enough to accommodate the building’s employees and those working at nearby structures the university might build later"
Hopefully, more development comes from this and uses those spaces.
"he project includes a parking garage with a capacity of 1,860 vehicles, large enough to accommodate the building’s employees and those working at nearby structures the university might build later"
Hopefully, more development comes from this and uses those spaces.
I don't want to complain about such a huge investment, but I was hoping for a more dramatic design. This is big and expensive, but pretty humdrum looking.
"The university's board of trustees approved the project on Friday, and expected to break ground in the afternoon. Construction was set to begin immediately afterward."
Well dang, that was a quick start.
Well dang, that was a quick start.
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Wow. Over half a billion dollar investment. That's pretty big.
The building's design is okay, but just okay to me. Wish it would have a little more interaction with the street like a cafe with outdoor seating or something.
Parking always seems to be tight at big medical centers, so it is good to have a large new parking structure for such a big building. Furthermore, maybe this can provide parking for nearby (future) buildings precluding the use of surface parking lots.
The covered, climate-controlled walkways unfortunately take away some of the street activity, but are expected at medical centers like this. Imagine a neurosurgeon rushing to an ER call for example. Not fun trying to do that while dodging traffic and sweating on a 100 degree summer day.
The building's design is okay, but just okay to me. Wish it would have a little more interaction with the street like a cafe with outdoor seating or something.
Parking always seems to be tight at big medical centers, so it is good to have a large new parking structure for such a big building. Furthermore, maybe this can provide parking for nearby (future) buildings precluding the use of surface parking lots.
The covered, climate-controlled walkways unfortunately take away some of the street activity, but are expected at medical centers like this. Imagine a neurosurgeon rushing to an ER call for example. Not fun trying to do that while dodging traffic and sweating on a 100 degree summer day.
I'm curious where that sky bridge even goes that makes any sense. It must go to the garage west of the children's center, but then it's still a bit of a distance through that garage south to the next skyway, and then west to the next closest medical building. That said, I almost don't get the point. You have to go through/past literally four other parking garages to get to another medical building. Are the physicians or patients that will be visiting/working in this building really even going to be moving to/from the other buildings that frequently?
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It’s actually a cheeky building. Not aggressive in design think they went safe I happen to like it all. Would have never guessed over 600 Mil and with Ponce health near 700 mil just from the two announcements today.
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I agree.framer wrote: ↑Mar 06, 2020I don't want to complain about such a huge investment, but I was hoping for a more dramatic design. This is big and expensive, but pretty humdrum looking.
Sad that we get our hopes/excitement up for a potentially fascinating project design and get kicked in the balls again. All of the gas in my stomach came roaring out.
What a shame.
Well.....at least on the bright side it'll be one of the largest neuroscience buildings in the world.
Also, I knew it would be akin in height to Mid-Campus. I just anticipated a better design.
Perkins and Will is a major, international firm. They do good work. Even though the design is blah, it should at least be executed well.
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Honestly this design is almost what I visualized squatty and a bit dark this came close I guess that’s why I’m simply fine with it. It’s not the sandcrawler but it’s definitely almost a once in a lifetime investment. I’m thinking most were hoping for something a bit signature get you more excited.
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Lets face it, everything going to be a let down until someone comes along to do a frame & glass structure around the silos to create some really cool atriums as urbantis suggested
In the meantime, Wash U investment of this scale only helps push more infill for CWE, CORTEX, CORTEX K, Foundry and surrounding neighborhoods like The Grove and so on... Heck, maybe the proposed Ponce medical school is legit in part to what Wash U & SLU have been able to establish. Med students who might not get into Wash U or SLU might see a place like Ponce the next best opportunity. In that respect, St. Louis is quietly building a national health & science presence just as it has St. Louis companies have quietly built a national financial powerhouse presence. Time will tell of course
In the meantime, Wash U investment of this scale only helps push more infill for CWE, CORTEX, CORTEX K, Foundry and surrounding neighborhoods like The Grove and so on... Heck, maybe the proposed Ponce medical school is legit in part to what Wash U & SLU have been able to establish. Med students who might not get into Wash U or SLU might see a place like Ponce the next best opportunity. In that respect, St. Louis is quietly building a national health & science presence just as it has St. Louis companies have quietly built a national financial powerhouse presence. Time will tell of course
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Will the skybridge go down Duncan and over the playground to connect to the garage, or will it turn down Newstead and make another turn to connect to the existing skybridge on the back of the garages?
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Let's all also keep in mind - and celebrate - that this project was originally supposed to be $250-300MM but is now over $600MM. This will immediately be one of the most important and significant centers for neurological research in the entire world, and they're building it in a way that supports and attracts companies that'll be locating or relocating to STL, and doing so in Cortex, in the City. Honestly, I don't care if it's the sexiest looking building out there; it's what's inside that counts, right? Even with that, she still looks pretty damn good.
The Neuroscience parcel only has construction trailers on it. Nothing else at this point.
The Aloft Hotel has signage and looks like it will soon receive some finishing touches.
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4210 Duncan is still a muddy mess although pier work seems to be nearing completion. They moved the drills to the "upper level" now.
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The Aloft Hotel has signage and looks like it will soon receive some finishing touches.
4210 Duncan is still a muddy mess although pier work seems to be nearing completion. They moved the drills to the "upper level" now.
$13.2M building permit issued for foundation of the neuroscience building
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There were drilling rigs on site for the new Neuroscience building as of this past weekend (no ground had been broken then though). So WashU knew when the permit was going to be approved.
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Permit review for something like this takes over a month. sh*t has changed by a lot in the last month. Biggest change is revenue for wash U/bjc. They’re probably taking a 50-60% revenue hit due to cancellation of a lot of elective procedures.chaifetz10 wrote: ↑Apr 06, 2020There were drilling rigs on site for the new Neuroscience building as of this past weekend (no ground had been broken then though). So WashU knew when the permit was going to be approved.
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Right. Which just shows how important this project is to their long term strategic plan then. They're moving at light speed to get this thing going (at least compared to other projects we've seen in the region).
As I recall, they were planning on issuing bonds to pay for this building. Maybe someone who knows about such things could answer: Does the current economic climate make such financing easier or harder; cheaper or more expensive for Wash U?
Good question. Undoubtly money is cheap as ever again with the way Feds are pooring money into the financial system and dropping rates or at least what you will see in US. I doubt that you will ever see negative Fed rates that Europe had during the great recession but you never know. I assume Wash U sees this as an opportunity to finance in some respects and probably have as a good of credit rating for any institution you can find out there. Another way to look at it, Wash U might see this as a great time to move forward because they will spend millions of dollars less in finance costs over the life cycle of the building itself.framer wrote: ↑Apr 07, 2020As I recall, they were planning on issuing bonds to pay for this building. Maybe someone who knows about such things could answer: Does the current economic climate make such financing easier or harder; cheaper or more expensive for Wash U?
But back to Framer's question. Anyone with some good insight on how tough it is or not for institutions to secure bonds right now? I think it interesting question because you have wonder if a few other institutions or even local muni's are looking at markets and seeing an opportunity to have some extremely low financing terms in the long term.
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I'm an equities guy, not a bond guy, so take this as a half-assed answer...
These bonds would probably be general municipal bonds, coming from Cortex, as opposed to being a bond offering by Wash U. They'd have the attraction of not being taxed at the Federal level, and likely not at the State level, either. Now, the Fed has just dropped interest rates to Zero, which means money is beyond cheap. I do know the government is looking to include muni's in their purchasing programs related to COVID-19 going forward, which could help fuel a market for these bonds. I believe STL City has a good credit rating overall, which helps. Meanwhile, municipalities all over the country are going to get clobbered from the loss of revenues during self-isolation, such as lost sales taxes.
If I had to guess, I'd think initial financing wouldn't be too difficult compared to what they were before COVID-19. People still want the security of bonds. Wash U's active support helps big time. The big issue comes to how well they can be serviced if STL City takes a gut punch to its abilities to pay off the debt. If the City gov't emerges from this still standing, then a new bond issue for this project should move forward OK.
*I'm not recommending any investment advice with this post, nor do I advise anyone buys or sells anything. Talk to your investment professional for all that.*
These bonds would probably be general municipal bonds, coming from Cortex, as opposed to being a bond offering by Wash U. They'd have the attraction of not being taxed at the Federal level, and likely not at the State level, either. Now, the Fed has just dropped interest rates to Zero, which means money is beyond cheap. I do know the government is looking to include muni's in their purchasing programs related to COVID-19 going forward, which could help fuel a market for these bonds. I believe STL City has a good credit rating overall, which helps. Meanwhile, municipalities all over the country are going to get clobbered from the loss of revenues during self-isolation, such as lost sales taxes.
If I had to guess, I'd think initial financing wouldn't be too difficult compared to what they were before COVID-19. People still want the security of bonds. Wash U's active support helps big time. The big issue comes to how well they can be serviced if STL City takes a gut punch to its abilities to pay off the debt. If the City gov't emerges from this still standing, then a new bond issue for this project should move forward OK.
*I'm not recommending any investment advice with this post, nor do I advise anyone buys or sells anything. Talk to your investment professional for all that.*
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KDG has some additional renderings on their website, now showing a parking garage behind the proposed two buildings, but with a decent screen. Also, looks like the plan will include retail on the first floor, which will help connect Cortex to the Grove a bit more.chriss752 wrote: ↑Nov 15, 2019Koman and Keeley Development Group have merged. The new entity, KDG, will pick up on Koman's and Keeley's projects. Cortex K is planned to be picked back up. Some new renderings are also available, but not many.
- 150,000SF of office.
- 161 apartments.
KDGCortexK.jpgKDGCortexK2.jpg
The newest plans show a scaled-down residential building. The images below were shared earlier on in the thread.
IMG-2678.JPGIMG-2675.JPG
We should hear more regarding the updates plans later this year or early next.
Also, there's a project specific site: https://www.cortexkdg.com/
And they have a pretty good virtual walk through video that has a ton of project details: https://www.cortexkdg.com?wix-vod-video ... p-jrvx7muf
And they have a pretty good virtual walk through video that has a ton of project details: https://www.cortexkdg.com?wix-vod-video ... p-jrvx7muf