urbanSTL

Did someone post a render/site plan?

Surface parking seems unacceptable that close to the Metrolink station. But of course Cardinals/Cordish didn't get the memo.

^ what does the closeness to the metrolink station have to do with parking? Unless all workers will be coming from the airport parking lot or shrewberry it really isn't relevant. And at $91,000 per job, most will be coming from west co.

^Those are some really good troll points. Good thing you brought them up.

Is this worth a 25 year tax abatement?

^The answer is no, and the lawyers for the developers admitted as much when the HUDZ committee heard the bill. Some abatements are so ludicrous that the BoA can't even stomach them. Coatar was forced to withdraw the bill.

Just looking at some of these other board bills for tax abatement for downtown redevelopment projects....

the one for the Gills 705 Olive (hotel + residences) is for 20 years and the one for 1501 Washington (hotel) is for 15 years. The abatement past 10 years is for 50% as capped by state law. Anything more than 10 years raises my frustration level a bit, but unlike the Koman proposal these projects at least would redevelop key historic buildings. I do think historic preservation and also affordable housing components should get a bit of bonus if you will when it comes to city subsidies.

1706 Washington (residential) is for 10 years.

chaifetz10 wrote:Ok... I'm on board with subsidies to get this built. St. Louis desperately needs modern, glass, class A office space to start drawing companies downtown. This rendering sold me.

What if it doesn't need subsidies to get built? Do we still give out the coupon just because they ask? Not against it, we should at least make the developers prove they need the incentives though.

roger wyoming II wrote:^ I think 10 year is pretty reasonable especially if they have a tenant lined up bringing new jobs to the city... rumor is a large tech tenant is coming to downtown btw but I have no idea where.

^ Like Microsoft?

That's what I am thinking. Minimum, we should at least make them prove the case. No viable development "needs" a 25yr abatement.

Future state, we have a scoring matrix where the level of incentive (if any) is determined by how many boxes they can check. Criteria to be determined, but there need to be some sort of criteria.

ricke002 wrote:

roger wyoming II wrote:^ I think 10 year is pretty reasonable especially if they have a tenant lined up bringing new jobs to the city... rumor is a large tech tenant is coming to downtown btw but I have no idea where.

^ Like Microsoft?

I believe Microsoft and 200 jobs are already rumored as going to CORTEX.

Would love to hear for the sake of St. Louis that large established tech company going to take up some major ATT one center footage

I just want to use this opportunity to express my excitement about all the recent development news in St. Louis. This, Cortex expansion and growth, multiple projects in the CWE, the Arcade being redeveloped, and rumors of the Railway Exchange and JA, just to name a few. These times remind me of last decade before the market crashed when we had the Park East rising and rumors of multiple towers in the CWE to go along with BPV and the Bottle District. This time the plans seem more grounded and organic, which means hopefully we actually get more done. Good times.

Couldn't agree more!! Exciting times for the city and glad to see so many "new" projects come online!

I like the design myself looks fresh modern and a little daring.
This is what Downtown needs however not for 25 years of tax abatements perhaps if it were 30 or more floors but this project doesn't justify such a tax reprieve .
here are a few tech companies that may set up shop downtown google apple square twitter Facebook comcast charter amazon just to name a few

^^Residential would be a great additional element. But between the highway, off-ramp, and Metrolink tracks I wouldn't call it a "prime location" for that use. Techy offices with lots of glass is actually kind of perfect.

I agree that some retail element along the northern elevation would be good - between the Metro station and Ballpark the foot traffic is pretty decent right there.


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