Did the one person having a hard time trying to lease a loft this fall ever got it rented out?
2017. The residential real estate market will be great guns again in 2017.
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well, with the news of the Crowne Plaza conversion that didn't take long.... if this moves forward relatively quickly by my count we'll have about 800 units under construction downtown this year with around 500 market-rate and 300 subsidized. These numbers do not include the Alverne and whatever is/may be happening at CityView.roger wyoming II wrote: I'm hopeful we'll be hearing news of a couple more market rate projects this year and I'd love to get to the point where we're at 500+ of such units every year.
^ Looks like the vacant Plaza Square Building 40 is now getting tackled by Mills.... this is the one on Chestnut and 15th facing the parks. Not sure how many units it is but I believe it would be 150+ and put us around 1,000 units under construction or planned downtown when counting the Crowne Plaza plans.
Also, does anyone have a handle on how things are going at Plaza Square? Hopefully tenants are pleased with the work and things are renting well. I'm sure the significant loitering on Olive can't be helpful for the Blu City condos and Senior apartments though. I think robbyd had a condo at Blu City but haven't seem him post in awhile.
Also, does anyone have a handle on how things are going at Plaza Square? Hopefully tenants are pleased with the work and things are renting well. I'm sure the significant loitering on Olive can't be helpful for the Blu City condos and Senior apartments though. I think robbyd had a condo at Blu City but haven't seem him post in awhile.
Approximately 1,033 units are under construction or planned for downtown
Under Construction
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1900 Pine - Station Plaza (87 units)
111 N 15th - CityView Plaza Square Building 10 (estimate 150 or so units)
1115 Pine (estimate 12 or so units)
Approx. 652 units under construction
Planned
Alverne Building (1014 Locust) (81 units) (2016 heavy construction start)
200 N. 4th (300 unit partial residential conversion of Crowne Plaza Hotel)
381 units planned
Keep an Eye On - Potential Projects Bandied About
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third
Possible purchase of Plaza Square Building 40 for senior housing
Possible residential conversion of old Millennium Hotel
Possible residential conversion of Metro's old HQ in Laclede's Landing
Under Construction
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1900 Pine - Station Plaza (87 units)
111 N 15th - CityView Plaza Square Building 10 (estimate 150 or so units)
1115 Pine (estimate 12 or so units)
Approx. 652 units under construction
Planned
Alverne Building (1014 Locust) (81 units) (2016 heavy construction start)
200 N. 4th (300 unit partial residential conversion of Crowne Plaza Hotel)
381 units planned
Keep an Eye On - Potential Projects Bandied About
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third
Possible purchase of Plaza Square Building 40 for senior housing
Possible residential conversion of old Millennium Hotel
Possible residential conversion of Metro's old HQ in Laclede's Landing
^ Breaking down recent activity/plans for Downtown and Downtown West, it is clear Downtown is where the action is these days.... over 1,00 units recently completed and/or under construction/planned.
Downtown
Recently Completed
Gallery 515 apartments - 515 Olive (102 units; Millennium Center 11 floor apartment conversion)
Tower OPOP - 411 N. 8th (128 units)
1214 Washington mixed-use (5 units + first floor office)
235 units recently completed
Under Construction
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1115 Locust (estimate approx. 12)
approx. 415 units under construction
Planned
The Alverne Building (1014 Locust) (81 units) (2016 heavy construction start)
200 N. 4th St. (300 units partial residential conversion of Crowne Plaza Hotel)
381 planned units
235 units recently completed and approx. 796 units under construction or planned
Keep an Eye On - Potential Projects Bandied About
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third (currently surface parking lot)
Possible residential conversion of Millennium Hotel
Possible residential conversion of old Metro HQ in Laclede's Landing
Downtown West
Recently Completed
Lacassian Lofts -- renovation of 2200 Locust (27 units + ground floor commercial)
CitiParc at Pine - 1531 Pine (149 senior housing units; was vacant Plaza Square Building)
City View renovation (Plaza Square Building 30) (approx. 150 units)
approx. 327 units recently completed
Under Construction
1900 Pine - Station Plaza (87 units)
111 N. 15th St. - CityView Plaza Square Building 10 (estimate 150 or so units)
approx. 237 units under construction
Keep an Eye On - Potential Projects Bandied About
Possible purchase of Plaza Square Building 40 for senior housing
Downtown
Recently Completed
Gallery 515 apartments - 515 Olive (102 units; Millennium Center 11 floor apartment conversion)
Tower OPOP - 411 N. 8th (128 units)
1214 Washington mixed-use (5 units + first floor office)
235 units recently completed
Under Construction
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1115 Locust (estimate approx. 12)
approx. 415 units under construction
Planned
The Alverne Building (1014 Locust) (81 units) (2016 heavy construction start)
200 N. 4th St. (300 units partial residential conversion of Crowne Plaza Hotel)
381 planned units
235 units recently completed and approx. 796 units under construction or planned
Keep an Eye On - Potential Projects Bandied About
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third (currently surface parking lot)
Possible residential conversion of Millennium Hotel
Possible residential conversion of old Metro HQ in Laclede's Landing
Downtown West
Recently Completed
Lacassian Lofts -- renovation of 2200 Locust (27 units + ground floor commercial)
CitiParc at Pine - 1531 Pine (149 senior housing units; was vacant Plaza Square Building)
City View renovation (Plaza Square Building 30) (approx. 150 units)
approx. 327 units recently completed
Under Construction
1900 Pine - Station Plaza (87 units)
111 N. 15th St. - CityView Plaza Square Building 10 (estimate 150 or so units)
approx. 237 units under construction
Keep an Eye On - Potential Projects Bandied About
Possible purchase of Plaza Square Building 40 for senior housing
From Biz Journal...
A handful of developments in downtown St. Louis will add nearly 1,000 new apartments to an already crowded market over the next few years. Most recently, Crowne Plaza, a 440-room hotel on North Fourth Street, was sold with plans to turn the building, valued at $6.35 million, into mostly apartments.
Downtown STL Inc. reported 282 apartment units were added to the market in 2014, up from the 186 rental units that hit the market in 2013. Another 300 are expected this year. Doug Woodruff, president and CEO of Downtown STL, said occupancy rates are around 90 percent. He said downtown has 7,800 apartment residents living in 6,800 units.
http://www.bizjournals.com/stlouis/blog ... louis.html
I assume this population tally does not include condo owners, otherwise it seems like an undercount.
A handful of developments in downtown St. Louis will add nearly 1,000 new apartments to an already crowded market over the next few years. Most recently, Crowne Plaza, a 440-room hotel on North Fourth Street, was sold with plans to turn the building, valued at $6.35 million, into mostly apartments.
Downtown STL Inc. reported 282 apartment units were added to the market in 2014, up from the 186 rental units that hit the market in 2013. Another 300 are expected this year. Doug Woodruff, president and CEO of Downtown STL, said occupancy rates are around 90 percent. He said downtown has 7,800 apartment residents living in 6,800 units.
http://www.bizjournals.com/stlouis/blog ... louis.html
I assume this population tally does not include condo owners, otherwise it seems like an undercount.
7,800 people is 6,800 units? That's, obviously, just over 1 person per unit. So while young singles are exactly the type of people we need downtown to make it vibrant, it wouldn't hurt attracting some married couples and families as well. When you have so many great neighborhoods in the city, what can be done to attract more of these demographics downtown? Should it even be a focus?
In order to keep families downtown you would have to provide the certainty of a high quality charter or magnet school that their children could attend. Otherwise they're moving to the County as soon as baby number 2 is on the way.
^or not necessarily the County, but somewhere else in the City.
As RW pointed out, those are just the apartment stats. The condos probably have a higher resident-per-unit density., and more families in general. It's an interesting question. And a trend that developments like OPOP Tower, which is 100% one-bedrooms and studios, are contributing to. I think the Crowne Plaza conversion will also be nearly all 1 be & studios.
The "should it be a focus" questions interesting. In terms of supporting restaurants and retail, the best demographic is young singles, couples, and newlyweds without kids. Although property ownership can help stabilize neighborhoods, and that's more prevalent among families. I suppose ultimately a mix, including retirees/empty-nesters, is the best situation (i.e.CWE).
As RW pointed out, those are just the apartment stats. The condos probably have a higher resident-per-unit density., and more families in general. It's an interesting question. And a trend that developments like OPOP Tower, which is 100% one-bedrooms and studios, are contributing to. I think the Crowne Plaza conversion will also be nearly all 1 be & studios.
The "should it be a focus" questions interesting. In terms of supporting restaurants and retail, the best demographic is young singles, couples, and newlyweds without kids. Although property ownership can help stabilize neighborhoods, and that's more prevalent among families. I suppose ultimately a mix, including retirees/empty-nesters, is the best situation (i.e.CWE).
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At the moment there is a great K-4 school, Lafayette Preparatory Academy, and a great K-5 school, St. Louis Language Immersion School - French. Lafayette Prep intends to grow to K-8, but I am unsure about the other school. There is a lack of a high quality high school. Confluence Preparatory Academy does great work with students from underserved neighborhoods, but its test scores are below average which may keep some families away from enrolling their children.Ebsy wrote:In order to keep families downtown you would have to provide the certainty of a high quality charter or magnet school that their children could attend. Otherwise they're moving to the County as soon as baby number 2 is on the way.
One major issue facing people wishing to raise a family in downtown is the lack of adequate housing for families. Purchasing or renting a 3+ bedroom unit in downtown is extremely expensive. The housing stock for these units currently only caters to those looking for an extremely high-end penthouse style apartment/condo. There needs to be more diversity in housing options if we want to keep families downtown.
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^ Stix Magnet is also a good and rather convenient school for downtowners to apply for.... in 2017 parents will be able to Metrolink their kids to school, too!
I agree more housing options are needed in the greater downtown area to diversify the residential base and build a true neighborhood.... unfortunate we don't have any townhomes yet; that type of stock could be especially great for infill in Downtown West and parts of Midtown.
I agree more housing options are needed in the greater downtown area to diversify the residential base and build a true neighborhood.... unfortunate we don't have any townhomes yet; that type of stock could be especially great for infill in Downtown West and parts of Midtown.
Would love to see this. Downtown West would be a good candidate, as would "Downtown South" around the Broadway Oyster Bar area. I'd love to see those parking lots replaced by something useful.roger wyoming II wrote:unfortunate we don't have any townhomes yet; that type of stock could be especially great for infill in Downtown West and parts of Midtown.
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It's surprising that we haven't really seen any new low-/mid-rise buildings in those areas. There are so many lots that would be perfect for them. Broadway and Cerre south of downtown, for example, not to mention Washington/Locust around 22nd and just about anywhere in Grand Center.
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^ It is strange and unfortunate. Quality infill would seem to be very appealing in these places. And not only have we not started to stitch up some of our wounds like creating a new "Downtown South" district, residential activity in even places like Downtown West has slowed to a crawl. And I can't really think of anything in Midtown Alley area in recent years.
These places should be hot! hot! hot! but the only new projects that come to mind in the past year or two are the small Lacassian Lofts and the under- construction Station Plaza. Meanwhile, proposals like the Intrada Lofts and the Beaumont Building apparently have died. So basically we've had decent activity in the core CBD and then pretty much only a smattering of projects until the CWE.
These places should be hot! hot! hot! but the only new projects that come to mind in the past year or two are the small Lacassian Lofts and the under- construction Station Plaza. Meanwhile, proposals like the Intrada Lofts and the Beaumont Building apparently have died. So basically we've had decent activity in the core CBD and then pretty much only a smattering of projects until the CWE.
Looks like Lafayette Prep found its new home but it will be in Lafayette Square rather than downtown proper.JaredOpsal wrote:At the moment there is a great K-4 school, Lafayette Preparatory Academy, and a great K-5 school, St. Louis Language Immersion School - French. Lafayette Prep intends to grow to K-8...Ebsy wrote:In order to keep families downtown you would have to provide the certainty of a high quality charter or magnet school that their children could attend. Otherwise they're moving to the County as soon as baby number 2 is on the way.
http://nextstl.com/2015/03/lafayette-pr ... st-church/
Ideally the location would be in the "Downtown South" district between the target downtown and Lafayette Square neighborhoods, but it looks like they found a good home which bodes well for their long-term success. And its good to see they are working with UIC on the project.
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roger wyoming II wrote:Looks like Lafayette Prep found its new home but it will be in Lafayette Square rather than downtown proper.JaredOpsal wrote:At the moment there is a great K-4 school, Lafayette Preparatory Academy, and a great K-5 school, St. Louis Language Immersion School - French. Lafayette Prep intends to grow to K-8...Ebsy wrote:In order to keep families downtown you would have to provide the certainty of a high quality charter or magnet school that their children could attend. Otherwise they're moving to the County as soon as baby number 2 is on the way.
http://nextstl.com/2015/03/lafayette-pr ... st-church/
Ideally the location would be in the "Downtown South" district between the target downtown and Lafayette Square neighborhoods, but it looks like they found a good home which bodes well for their long-term success. And its good to see they are working with UIC on the project.
This article is missing pertinent facts, which may give the impression that the site in question is a done deal.
One piece of notable info is that the $100k being raised does not actually buy a school building. Under the discussed terms the building will be leased and LPA will only have an option to purchase at a later date.
A recent LPA effort that has become public knowledge focused around purchasing a downtown building via New Market Tax Credits and a capital campaign. However, the application for the tax credits was denied in part because the mayor's office chose not to support LPA's proposal over the other tax credit applications.
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^ And to be fair, here is Geoff Whittington's (the author's) response to your same comment over at NextSTL:
Thank you for the additional information. Very informative. However, I never called this project a "done deal". Additionally, "Plans" is in the headline. My item was primarily formed from a prepared release given to me by an LPA source. This release was also featured on the LPA website. My first time seeing it was last night. No deception was intended. Finally, my LPA source was OK with the item last we spoke at 10:23 a.m. I like what I have learned regarding LPA and hope it meets its goal.
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No new details on the planned residential conversion of 200 N. 4th, but it looks like the Crowne Plaza will be closing May 11th....
http://www.stltoday.com/business/column ... cbf69.html
So it looks like they intend to move quickly on the project.
http://www.stltoday.com/business/column ... cbf69.html
So it looks like they intend to move quickly on the project.
BTW: the article is behind the paywall.roger wyoming II wrote:No new details on the planned residential conversion of 200 N. 4th, but it looks like the Crowne Plaza will be closing May 11th....
http://www.stltoday.com/business/column ... cbf69.html
So it looks like they intend to move quickly on the project.
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^Copy the link, change the www to m, boom free article. Will be sad when they fix this bug
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well apparently the PD reads UrbanSTL. I just tried the www ---> m trick and it said "Whatever you're looking for ain't here, chump."
P.S. I was able to read it by stopping the page from loading after the text appeared and before the block popped up.
P.S. I was able to read it by stopping the page from loading after the text appeared and before the block popped up.
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Wierd i just tried again and it worked ok for me. I think this exploit has been known for a while. Im surpirsed it still works for some of us.