urbanSTL

jshank83 wrote:Brian Feldt is reporting Asynchrony is the tennet for Cupples X

So Koman is asking for tax incentives to move a tenant from one of their existing developments (literally across the street) to this new one?
Seriously?

jshank83 wrote:Brian Feldt is reporting Asynchrony is the tennet for Cupples X

Was Asynchrony the company that WWT bought or I'm I mistaken?

^That's correct.

andrewarkills wrote:

jshank83 wrote:Brian Feldt is reporting Asynchrony is the tennet for Cupples X

So Koman is asking for tax incentives to move a tenant from one of their existing developments (literally across the street) to this new one?
Seriously?

Really, it's more like moving next door as that is more of an entrance to a parking lot than a street. But it does seem a bit ridiculous when you think about it. On the other hand, they are growing at a pretty nice pace so this is actually a company I could definitely see actually fulfilling the job growth promise.

andrewarkills wrote:^That's correct.

Thanks,

I was betting on the accounting firm with an expanding downtown presence, believe KPMG, as the possible tenant. Believe they are in search of more space. Maybe I should move thought over to BPV but could they possibly be anchor tenant for proposed office space next door? If so, two nice wins for downtown if Cupples X & BPV phase II office space happens

PD article from year ago about KPMG adding jobs downtown

http://www.stltoday.com/business/local/ ... 491d6.html

^ I don't recall hearing anything about KMPG looking for more space outside of 10 S. Broadway... btw, that's where Nestle Purina is in the CBD and with the additional 60,000 sq. ft. of space I think they have four floors in the building now.

MRNHS wrote:

andrewarkills wrote:

jshank83 wrote:Brian Feldt is reporting Asynchrony is the tennet for Cupples X

So Koman is asking for tax incentives to move a tenant from one of their existing developments (literally across the street) to this new one?
Seriously?

Really, it's more like moving next door as that is more of an entrance to a parking lot than a street. But it does seem a bit ridiculous when you think about it. On the other hand, they are growing at a pretty nice pace so this is actually a company I could definitely see actually fulfilling the job growth promise.

Yeah, if it's truly a situation where they are growing out the gills and they really need a new space to meet their needs that's one thing but it's quite another if it is just getting neat new space at a reduced rate. I think generous subsidies should be tied to new jobs added and some kind of clawback provision in place.

STLrainbow wrote:^ I don't recall hearing anything about KMPG looking for more space outside of 10 S. Broadway... btw, that's where Nestle Purina is in the CBD and with the additional 60,000 sq. ft. of space I think they have four floors in the building now.

MRNHS wrote:

andrewarkills wrote: So Koman is asking for tax incentives to move a tenant from one of their existing developments (literally across the street) to this new one?
Seriously?

Really, it's more like moving next door as that is more of an entrance to a parking lot than a street. But it does seem a bit ridiculous when you think about it. On the other hand, they are growing at a pretty nice pace so this is actually a company I could definitely see actually fulfilling the job growth promise.

Yeah, if it's truly a situation where they are growing out the gills and they really need a new space to meet their needs that's one thing but it's quite another if it is just getting neat new space at a reduced rate. I think generous subsidies should be tied to new jobs added and some kind of clawback provision in place.

One of my good friends from high school works at KPMG. He's heard numerous talks by management about needing updated office space. Clayton has been an idea raised numerous times. BPV or Cupples could be an attractive alternative if they're just looking for updated space.


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STLrainbow wrote:^ I don't recall hearing anything about KMPG looking for more space outside of 10 S. Broadway... btw, that's where Nestle Purina is in the CBD and with the additional 60,000 sq. ft. of space I think they have four floors in the building now.

I believe Nestle Purina is at 100 N. Broadway - the Bank of America Tower.

^ you're correct... not sure why I was thinking they were on the south side of the Old Courthouse. btw, there's been a lot of permit activity for 10 S Broadway so if its not for KPMG somebody else is getting some upgrades.

This is behind a pay wall, but here's the relevant speculation...

http://www.bizjournals.com/stlouis/blog ... lex-x.html

"Asynchrony Solutions, a St. Louis-based software provider that was acquired last year by World Wide Technology, is expected to be the anchor tenant of Koman Group’s $43.5 million, five-story mixed-use development across the street from Busch Stadium, according to sources familiar with the deal.

Jim Kavanaugh, president and CEO of World Wide Technology, said the company hasn’t made any firm decisions about moving part or all of its employees into the development, which is slated to open in December 2018.

“At this time we are leaning towards staying in our existing buildings and expanding our footprint,” he said.

Jason Braidwood, president of Koman, did not return requests for comment.

Koman, according to its tax increment financing application with the city of St. Louis, had said it was negotiating with an anchor tenant that would move 310 jobs currently located across multiple unspecified offices to the development and potentially add another 280 jobs in the future.

Asynchrony, with World Wide Technology behind it, would fit that description.

Asynchrony had roughly 250 employees at the time of the acquisition and has been hiring ever since. World Wide Technology overall has added more than 750 employees over the past 18 months and projects to add another 600 or so jobs this year."

^ although we know now who the mystery anchor tenant is, still a big "who knows?" on whether these will bring new jobs to the city.... that really needs to be cleared up imo before this goes any further with the subsidies request.

Posting because I hadn't seen this rendering before



http://www.stltoday.com/business/column ... DBFD838DDD

We need some renderings from different angles. Like what's it gonna look like from the Stan Musial statue?

Is this project dead? Haven't heard or seen anything on it since Early November.

chriss752 wrote:Is this project dead? Haven't heard or seen anything on it since Early November.

It's on the TIF Commission agenda for this Wednesday. It got continued to this month in December. Options are: being continued again/withdrawn/significantly changed/revived in its current form. My money is on one of the first three, probably option one or two.

Good. I hope to see this built, it will help add to the streetscape around the stadium.


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^That actually doesn't sound too good. I guess we'll find out on Wednesday.

chriss752 wrote:Is this project dead? Haven't heard or seen anything on it since Early November.

I've heard it's not going to happen, but I suppose there's always a chance.

debaliviere wrote: I've heard it's not going to happen, but I suppose there's always a chance.

That's what I have heard as well. This was just posted on the city website, it's the agenda for Wednesday's meeting. Not dead yet, but not moving forward any time soon.

Anyone think that Koman might have lost a prospective tenant to BPV phase II? Speculation on my part but Cordish/DeWitt got what they wanted and in short order as far as incentives go. They pretty much can offer a lease deal on known terms.

dredger wrote:Anyone think that Koman might have lost a prospective tenant to BPV phase II? Speculation on my part but Cordish/DeWitt got what they wanted and in short order as far as incentives go. They pretty much can offer a lease deal on known terms.

Not sure, but Asynchrony was supposedly Koman's main tenant, and they've since announced that they've signed a lease elsewhere in Cupples.

^ Obviously a new building wouldn't be ready for a couple years so it could be that the increased lease at Cupples 9 as well as the additional space at 10th & Spruce are just to tide the growing company over. Anyway, the TIF hearing on Cupples X was continued to February.

STLrainbow wrote:^ Obviously a new building wouldn't be ready for a couple years so it could be that the increased lease at Cupples 9 as well as the additional space at 10th & Spruce are just to tide the growing company over. Anyway, the TIF hearing on Cupples X was continued to February.

The other thought running through my head but speculation is WWT after spending some dough on new HQ is putting Asynchrony expansion on a holding or planning for a slower growth pattern since WWT's big chunk of revenues is via federal government contracts. In other words, WWT doesn't want to commit some of its cash flow on Asynchrony expansion as it waits and sees if their is any bite behind the political rhetoric of big changes coming in the first 100 days.