Agreed with the above. The only way that i would support the tax is if a significant portion (im talking north of 30%) went to nonroad, nonhighway transportation measures.
- 933
Nonbullshit measures. They don't need more money just so they can spend it on nothing while MetroLink languishes, unable to pay for the construction of a new line. Why should we spend money on an unwelcome south county connector that connects nobody to nowhere while destroying neighborhoods...When we would all rather just have a new Metro line? MoDOT can blow me. I'm not giving them anything.
- 151
Some good news for the downtown condo market.
http://www.bizjournals.com/stlouis/blog ... -turn.html
http://www.bizjournals.com/stlouis/blog ... -turn.html
^ Interesting. As a DT loft owner and resident we are conflicted to put our condo on the market for many reasons...
1. We bought during the boom... so we will probably never get back our purchase price (We are NOT underwater on our mortgage). But I can assume many are and are in the same boat where they do not want to sell just because of the sticker shock of seeing that money "disappear" or worse; selling your place and then owing additional funds to the bank.
2. We refinanced during the BOTTOM of the mortgage rate dip. I am talking CHEAP money. So now the property is almost like an investment (assuming there is not ANOTHER housing crash. Why sell and lose that extreme low interest rate.
3. We actually like living downtown (kid #2 will be here shortly, so we will be one of those few with a family of 4 living DT) where we can walk everywhere, hang out on the arch grounds, etc. And we are trying to weigh those advantages vs having a nice private yard for gardening, BBQ... you know... suburbia type stuff.
We like the TowerGrove neighborhood, but it would be competing against Clayton (near DT Clayton)
Looking at mortgage rates and the cost of renting, it does seem like a good time to buy since the mortgage WITH condo fees are about the same as renting. So it will be interesting to see how the Marquette does as well as seeing if they will do all 1 BR or have a mix of 1 and 2 BR.
1. We bought during the boom... so we will probably never get back our purchase price (We are NOT underwater on our mortgage). But I can assume many are and are in the same boat where they do not want to sell just because of the sticker shock of seeing that money "disappear" or worse; selling your place and then owing additional funds to the bank.
2. We refinanced during the BOTTOM of the mortgage rate dip. I am talking CHEAP money. So now the property is almost like an investment (assuming there is not ANOTHER housing crash. Why sell and lose that extreme low interest rate.
3. We actually like living downtown (kid #2 will be here shortly, so we will be one of those few with a family of 4 living DT) where we can walk everywhere, hang out on the arch grounds, etc. And we are trying to weigh those advantages vs having a nice private yard for gardening, BBQ... you know... suburbia type stuff.
We like the TowerGrove neighborhood, but it would be competing against Clayton (near DT Clayton) Looking at mortgage rates and the cost of renting, it does seem like a good time to buy since the mortgage WITH condo fees are about the same as renting. So it will be interesting to see how the Marquette does as well as seeing if they will do all 1 BR or have a mix of 1 and 2 BR.
- 8,155
^ Great you are considering staying downtown.... we're TGSers ourselves so if you move come on down! Its really awful being surrounded by Morgan Ford and South Grand entertainment/retails districts and having that god awful Tower Grove Park and Botanical Garden at your doorstep!
- 8,904
Downtown St. Louis’ condo market appears to be making a comeback as inventory levels dwindle and demand rises.
Sarah Tadlock, a broker with Dielmann Sotheby’s International Realty, said inventory levels in downtown’s condo market are the lowest she’s seen since 2006.
...“Demand is helping push price points back up for condos, so for homeowners that have been renting properties and waiting on the market, it’s time to get properties listed."
http://www.bizjournals.com/stlouis/prin ... m&page=all
Sarah Tadlock, a broker with Dielmann Sotheby’s International Realty, said inventory levels in downtown’s condo market are the lowest she’s seen since 2006.
...“Demand is helping push price points back up for condos, so for homeowners that have been renting properties and waiting on the market, it’s time to get properties listed."
http://www.bizjournals.com/stlouis/prin ... m&page=all
- 8,155
Here is how I would list things for downtown:roger wyoming II wrote:Gateway City wrote:
- Arcade Building, Downtown, 250 units (proposed)
-Chemical Building, Downtown, 120 units (proposed)
-Roberts Tower, Downtown, 132 units (opening spring 2014)
-Millenium Center, Downtown, 102 units, (proposed)
-Alverne, Downtown, 81 apartments (proposed)
-Butler Bros. Building, Downtown, 342 units (proposed)
Not sure how many units these will have:
-Drury Tower, 30 stories, Laclede's Landing (proposed)
Recently available:
-Millenium Center's Gallery 515 102 units (CBD)
Under construction & expected 2014 availability
- Lacassian Lofts, 27 units (DW)
-Tower OPOP, 132 units (CBD)
Expected 2014 construction starts, 2015 availability
- Arcade Building, approx. 280 units (CBD)
-Chemical Building, approx. 120 units (CBD)
-Alverne , 81 units (CBD)
- Intrada Lofts, 57 units (technically Midtown)
Maybe one or two others I've missed but basically we can expect about 150 new units to come online Downtown this year and 500 more under construction. (In addition, we can expect more occupancy out of Plaza Square, with 149 units coming online for seniors and perhaps another building for seniors and higher occupancy for the others through upcoming investments.)
Other potential projects bandied about:
- 1900 Pine, unknown units but looks like 50ish (DW) (this appears to be moving forward)
-Drury Tower, unknown units (LL)
-Butler Bros. Building, 342 units (DW)
- Jefferson Arms, unknown units (DW)
- 1,320
I need to get out an update on 1900 Pine. 87 units there.
- 8,155
^ great! seems to be moving forward.... maybe on target for 2015 completion?
Downtown Residential Pipeline:
Recently available:
-Millenium Center's Gallery 515, 102 units (CBD)
Under construction & expected 2014 availability
- Lacassian Lofts, 27 units (DW)
-Tower OPOP, 132 units (CBD)
Total Units: approx. 160
Probable 2014 construction starts, 2015 availability
- Arcade Building, approx. 280 units (CBD)
-Chemical Building, approx. 120 units (CBD)
-Alverne , approx. 81 units (CBD)
- 1900 Pine, approx. 87 units
- Intrada Lofts, 57 units (technically Midtown but on border w. DW)
Total Units: 625
In addition, we can expect increased occupancy out of Plaza Square this year and next, with 149 units coming online for seniors and perhaps another building for seniors and higher occupancy for the others through upcoming investments.
Other potential projects bandied about:
-Drury Tower, unknown units (LL)
-Butler Bros. Building, 342 units (DW)
- Jefferson Arms, unknown units (DW)
Recently available:
-Millenium Center's Gallery 515, 102 units (CBD)
Under construction & expected 2014 availability
- Lacassian Lofts, 27 units (DW)
-Tower OPOP, 132 units (CBD)
Total Units: approx. 160
Probable 2014 construction starts, 2015 availability
- Arcade Building, approx. 280 units (CBD)
-Chemical Building, approx. 120 units (CBD)
-Alverne , approx. 81 units (CBD)
- 1900 Pine, approx. 87 units
- Intrada Lofts, 57 units (technically Midtown but on border w. DW)
Total Units: 625
In addition, we can expect increased occupancy out of Plaza Square this year and next, with 149 units coming online for seniors and perhaps another building for seniors and higher occupancy for the others through upcoming investments.
Other potential projects bandied about:
-Drury Tower, unknown units (LL)
-Butler Bros. Building, 342 units (DW)
- Jefferson Arms, unknown units (DW)
I'm pretty sure the Lacassian Lofts are now up and running and getting leased up.
- 8,155
^ thanks... I knew they were taking leases but wasn't sure if they were move-in ready or not.
roger wyoming II wrote:Downtown Residential Pipeline:
Recently available:
-Millenium Center's Gallery 515, 102 units (CBD)
- Lacassian Lofts, 27 units (DW)
Total units: 129
Under construction & expected 2014 availability
-Tower OPOP, 132 units (CBD)
Total Units: 132
Probable 2014 construction starts, 2015 availability
- Arcade Building, approx. 280 units (CBD)
-Chemical Building, approx. 120 units (CBD)
-Alverne , approx. 81 units (CBD)
- 1900 Pine, approx. 87 units
- Intrada Lofts, 57 units (technically Midtown but on border w. DW)
Total Units: 625
In addition, we can expect increased occupancy out of Plaza Square this year and next, with 149 units coming online for seniors and perhaps another building for seniors and higher occupancy for the others through upcoming investments.
Other potential projects bandied about:
-Drury Tower, unknown units (LL)
-Butler Bros. Building, 342 units (DW)
- Jefferson Arms, unknown units (DW)
I pasted a comment from the downtown retail thread:
http://urbanstl.com/forum/viewtopic.php ... 97#p226194
by bigmclargehuge » Thu Mar 13, 2014 10:58 am
"Wow Queen City Square addition is nice for Cincinnati. Now i did more research their downtown residential population was only around 9000 when this was started and was only growing buy a few hundred a year before construction. Around 2009 they are seeing thousands of new resesidents added yearly.
Inst that the opposite logic people say that if we add residents the jobs will eventually come? Or is Cincinnati just a one off case? Downtown St Louis has added about 4000 residents over the last 10 years? What is it going to take. Never thought i would have Cincinnati envy"
I think some care has to be taken into how downtown boundaries are defined and I think Cincy includes the quickly growing Over-the-Rhine neighborhood in theirs and we include the not so quickly growing Columbus and Carr Square's in ours. In downtown proper, we added 3,700 Downtown and 1,700 in Downtown West last decade, which more than doubled the population to take it to a total of about 7,600. Apparently we've been adding about 500 new residents a year recently and I suspect most of those are in downtown proper. Hopefully we can move those numbers up to closer than 1,000 per year beginning next year (when we may get the Arcade and Chemical online, a possible cosmic event!)
edit.... we added 2,900 in downtown and not 3,700 in the naughts. 1,700 in downtown west is correct.
http://urbanstl.com/forum/viewtopic.php ... 97#p226194
by bigmclargehuge » Thu Mar 13, 2014 10:58 am
"Wow Queen City Square addition is nice for Cincinnati. Now i did more research their downtown residential population was only around 9000 when this was started and was only growing buy a few hundred a year before construction. Around 2009 they are seeing thousands of new resesidents added yearly.
Inst that the opposite logic people say that if we add residents the jobs will eventually come? Or is Cincinnati just a one off case? Downtown St Louis has added about 4000 residents over the last 10 years? What is it going to take. Never thought i would have Cincinnati envy
"I think some care has to be taken into how downtown boundaries are defined and I think Cincy includes the quickly growing Over-the-Rhine neighborhood in theirs and we include the not so quickly growing Columbus and Carr Square's in ours. In downtown proper, we added 3,700 Downtown and 1,700 in Downtown West last decade, which more than doubled the population to take it to a total of about 7,600. Apparently we've been adding about 500 new residents a year recently and I suspect most of those are in downtown proper. Hopefully we can move those numbers up to closer than 1,000 per year beginning next year (when we may get the Arcade and Chemical online, a possible cosmic event!)
edit.... we added 2,900 in downtown and not 3,700 in the naughts. 1,700 in downtown west is correct.
- 219
Ive asked this in each of the building threads but didnt really see a response. Maybe someone will know more now
1)Does anyone know why Chemical/Alexa has not started construction yet. Is it still a parking issue?
2)Does Arcade/Dominium have financing in place. I think as of the end of last year they did not
1)Does anyone know why Chemical/Alexa has not started construction yet. Is it still a parking issue?
2)Does Arcade/Dominium have financing in place. I think as of the end of last year they did not
- 8,155
^ good question.... someone posted a snippet from the Saint Louis Business Journal that both projects appeared to be on track, but unfortunately it was subscriber only so I don't know details.
I have heard that both are struggling to complete funding. Neither deals are dead but funding has been an issue for some reason.
- 219
Crap can anyone else confirm or deny this. I saw an article from last year that Dominium asked for an increase in tax abatement from 10 to 20 years cause they could not afford to buy the building without it. Didnt see anyone mention that in the arcade thread. Maybe thats no big deal. As for the chemical. all i can find are article that said it should have started already
- 151
I wound not be to worried about about the chemical and arcade buildings till June. Most developers don't like to start projects till after the winter.
- 219
Well i would think Chemical would at least have a website, floor plans or maybe even a sales/leasing office vs sitting and doing nothing just cause its winterseanmcelligott644 wrote:Most developers don't like to start projects till after the winter.
- 933
I called them awhile ago and left a message letting them know that once it's time to start leasing, I want in immediately. They never called me back.
- 1,320
I don't believe the Arcade deal officially closes until the environmental remediation is complete. Both projects have seen adjustments to their public funding packages. I'm not really worried about either project at this point.
- 933
Arcade in my opinion is like 99% for sure. Chemical is like 95%. I'm not too worried about them being canceled. They won't be.
- 219
^
^^
Thanks for the info. Def alleviated some worries. . .but not all
^^
Thanks for the info. Def alleviated some worries. . .but not all
- 124
Someone looking to develop downtown lofts is looking for input. Could be a good opportunity.
http://www.reddit.com/r/StLouis/comment ... _lofts_in/
http://www.reddit.com/r/StLouis/comment ... _lofts_in/