I think they mean lost their earnest money deposit.stlien wrote:"Lost money" like their property values dropped below their loan amounts? Or were there "quite a few" foreclosures? There's a big difference from realized losses and paper losses.jcity wrote:How many people lost money at the crescent in Clayton? I've heard quite a few.
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^You think a lot of people walked away from their deposits? I thought JCity just meant that those units are worth less today than what their owners paid for them in '07-'08.
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I don't see any occupancy permits applied for yet so probably just pre-leasing at this point. I wouldn't doubt that some units become available pretty soon though.True_dope wrote:I walked by 720 Olive today and Notice sings saying apartments for lease. So are the apartments in 720 done or just some pre-leasing?
I think these next few months will be rather telling in terms of the strength of the Downtown rental market. Arcade market rate apartments will be pre-leasing, 720 Olive will be pre-leasing, and OPOP Tower will (assumedly) still be filling up. Hopefully there is some hard data (or even anecdotal information) made available for each of them. An update on OPOP leasing in some way, shape, or form would be helpful at this point.
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^ I agree.... and it shouldn't be that difficult to get decent lease ups if we have any kind of healthy market. Tower OPOP's approx. 130 some units have been available for over a year now and the upcoming Arcade and Gallery 720 will only add 80 and 111 units, respectively. So that's not too much and should be able to be absorbed nicely and leave room for the Alverne and some of the other projects that may come online late next year or in '17. If not, well we're screwed!
Gallery 720 (720 Olive) has its first occupancy permits in. The newly dubbed "Skyline" building part of the Cityview complex is also having more units come online. And of course the Arcade is also pre-leasing.
Judging by "junk on balconies," it looks like that new Cityview building is doing well. Seems like there's bikes, chairs and things on every balcony in the upper half of the building. I don't think the lower half is open yet.roger wyoming II wrote: The newly dubbed "Skyline" building part of the Cityview complex is also having more units come online.
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^ I really hope this is a success... if Mills can turn around CityView I think that will provide a big boost for DT West and hopefully spur even more market rate redevelopment to help overcome some of the challenges in the immediate area.
Certainly not a big project, but a nice one has been completed:
http://www.redbrickstl.com/st-louis-apa ... ble-712015
2 bedroom, 1 bath for $1,650/ mo. at the 1115 Pine project. Hopefully the on-street parking won't be an issue and it leases up quick. (And first-floor commercial.)
http://www.redbrickstl.com/st-louis-apa ... ble-712015
2 bedroom, 1 bath for $1,650/ mo. at the 1115 Pine project. Hopefully the on-street parking won't be an issue and it leases up quick. (And first-floor commercial.)
^Nice! Looks like they might be going for SLU Law students (who might be able to line up parking in the law school or the garage next to it?). Another great project for DT. I kind of forgot about this one
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^ yeah, these small projects can really help out and bring back some life in some dead zones.... hopefully the taller 5-story across the surface lot (at 1133 Pine) is up next; I do recall that being mentioned before as a potential rehab for SLU Law students.
I tweeted this interesting article from '12 about high hopes for how SLU Law would remake downtown:
http://www.bizjournals.com/stlouis/prin ... g-downtown.
It certainly has helped downtown but I don't think it met the high hopes at the time; at least yet. The Jefferson Arms project would have been huge....
Tim McGowan said he hopes the arrival of SLU students helps him secure financing for the $110 million project. He envisions up to 450 units and said he’d offer below-market pricing, between $650 and $850 a month for a two-bed, two-bath unit. Already, he’s partnered with Teach for America and will offer units to Teach for America teachers, but there will be several hundred units available for SLU students, he said.
http://www.bizjournals.com/stlouis/prin ... g-downtown.
It certainly has helped downtown but I don't think it met the high hopes at the time; at least yet. The Jefferson Arms project would have been huge....
Tim McGowan said he hopes the arrival of SLU students helps him secure financing for the $110 million project. He envisions up to 450 units and said he’d offer below-market pricing, between $650 and $850 a month for a two-bed, two-bath unit. Already, he’s partnered with Teach for America and will offer units to Teach for America teachers, but there will be several hundred units available for SLU students, he said.
^For sure. It's of those instances where, you'd hoped the impact would be more visible, but you hate to think what it'd be like without it.
I don't think 1115 Pine would have been redeveloped without it. Also the park Pacific retail has continue to fill out , which I'm sure has been supported. As with most things St. Louis and even Downtown, the progress we aspire to is just taking a little longer than anticipated.
With the Arcade/Webster opening onto Pine a nice counter-balance to SLU Law will help activate the street (and Olive) from Tucker to points East. Hopefully the major academic investments keep coming.
I don't think 1115 Pine would have been redeveloped without it. Also the park Pacific retail has continue to fill out , which I'm sure has been supported. As with most things St. Louis and even Downtown, the progress we aspire to is just taking a little longer than anticipated.
With the Arcade/Webster opening onto Pine a nice counter-balance to SLU Law will help activate the street (and Olive) from Tucker to points East. Hopefully the major academic investments keep coming.
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^ I agree with onecity that doubling down as much as we can on students is critical for downtown and the region.... I think this Solon Gershman guy quoted in the Biz Journal article above was on the right track when he said this:
“These kids are just going to totally redo the landscape.”
But it takes more than just a decent-sized law school to reach a transformation. My understanding is that WebsterU's Gateway Campus will have the capacity for about 1,000 more Gorlocks, but I'd like to here an update on projections.
“These kids are just going to totally redo the landscape.”
But it takes more than just a decent-sized law school to reach a transformation. My understanding is that WebsterU's Gateway Campus will have the capacity for about 1,000 more Gorlocks, but I'd like to here an update on projections.
Has it? What's new there besides Papa Johns? And I think PJ moved from their old location because of the construction going on above them.wabash wrote:Also the park Pacific retail has continue to fill out , which I'm sure has been supported.
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I took a coupe of phone photos inside the Arcade Building at the 2015 Downtown Living Tour last weekend. The guy in the photo is from Dominium. He flew in that morning from Minneapolis. He said the Arcade mall portion should open in December. Since it is under construction, they took us in groups of 10 and required yellow vests and hard hats. The other photo is from the roof patio. We walked on the spongy roof coating, but they had an example of the raised floor concrete tiles that will cover all of this.
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Arcade Building Downtown St. Louis by Gary Kreie, on Flickr
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Rooftop Patio Arcade Building St. Louis by Gary Kreie, on Flickr
Arcade Building Downtown St. Louis by Gary Kreie, on Flickr
Rooftop Patio Arcade Building St. Louis by Gary Kreie, on Flickr
^ Would be awesome if Dominium had the Jefferson Arms on deck for their next big project. To have such a prominent building empty and decaying is an ugly look for downtown and its renovation could do wonders for the entire Tucker corridor.
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^ I agree... just think how juiced downtown would be if Lawrence Group were finishing up the jefferson-Arms with that T4A proposal at the same time as the Arcade-Wright. Hopefully developers have their eyes on J-A (and RR/X).
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Awesome, thanks for the pics! I'm trying to figure out who that is in your picture. The two developers from Dominium that worked on Arcade are Jeff Huggett and Ross Stitely and that guy isn't either of them...gary kreie wrote:I took a coupe of phone photos inside the Arcade Building at the 2015 Downtown Living Tour last weekend. The guy in the photo is from Dominium. He flew in that morning from Minneapolis. He said the Arcade mall portion should open in December. Since it is under construction, they took us in groups of 10 and required yellow vests and hard hats. The other photo is from the roof patio. We walked on the spongy roof coating, but they had an example of the raised floor concrete tiles that will cover all of this.
Arcade Building Downtown St. Louis by Gary Kreie, on Flickr
Rooftop Patio Arcade Building St. Louis by Gary Kreie, on Flickr
So will the Arcade itself be open to the general public or is it only accessible to Webster Students and/or residents?
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-RBB
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They had 4 or 5 guides taking folks through and this guy said he flew in from Minnesota that morning. So he may not work here regularly.John Coctostan wrote:Awesome, thanks for the pics! I'm trying to figure out who that is in your picture. The two developers from Dominium that worked on Arcade are Jeff Huggett and Ross Stitely and that guy isn't either of them...gary kreie wrote:I took a coupe of phone photos inside the Arcade Building at the 2015 Downtown Living Tour last weekend. The guy in the photo is from Dominium. He flew in that morning from Minneapolis. He said the Arcade mall portion should open in December. Since it is under construction, they took us in groups of 10 and required yellow vests and hard hats. The other photo is from the roof patio. We walked on the spongy roof coating, but they had an example of the raised floor concrete tiles that will cover all of this.
Arcade Building Downtown St. Louis by Gary Kreie, on Flickr
Rooftop Patio Arcade Building St. Louis by Gary Kreie, on Flickr
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They're still working on Gallery 720 (old Laclede Gas) but several floors are done already and leasing seems to be going well.... about 45 of the 55 or so that have been completed are leased with 10 available. Penthouses mostly gone.
I don't think I've updated the list in awhile... here's the latest:
Approximately 893 units are under construction or planned for downtown
Recently Completed
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
1115 Pine (6 units)
1500 Olive (CityView renovation of Plaza Square #40 Building; 156 units)
Approx. 444 units recently completed
Under Construction
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1900 Pine - Station Plaza (87 units)
2000 Washington (5 units)
Alverne Building- 1014 Locust (81 units)
Approx. 294 units under construction
Planned
1133 Pine (~ 12 units)
1701 Locust - Dragon Trading (57 units)
2035 Lucas & 2030 Delmar (86 units)
Approx. 155 units planned
Keep an Eye On - Potential Projects Bandied About
Possible partial residential conversion of Crowne Plaza Hotel (300 units)
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third
Possible residential conversion of old Millennium Hotel
As a result of no no new sizeable projects announced and moving the Crowne Plaza conversion off the planned column over to keep an eye on (as it appears it may stay a full hotel) the overall count of recently completed/under construction/planned is a couple hundred less than the last update in July. Also, the news that Spinnaker plans a tech hub instead of apartments in the old Metro HQ in The Landing was a somewhat disappointing move.
Approximately 893 units are under construction or planned for downtown
Recently Completed
Arcade-Wright - 800 Olive (282 units + Webster U Gateway Campus))
1115 Pine (6 units)
1500 Olive (CityView renovation of Plaza Square #40 Building; 156 units)
Approx. 444 units recently completed
Under Construction
Marquette Building - 304 N. Broadway (10 condos converted from old Y space)
720 Olive (111 units)
1900 Pine - Station Plaza (87 units)
2000 Washington (5 units)
Alverne Building- 1014 Locust (81 units)
Approx. 294 units under construction
Planned
1133 Pine (~ 12 units)
1701 Locust - Dragon Trading (57 units)
2035 Lucas & 2030 Delmar (86 units)
Approx. 155 units planned
Keep an Eye On - Potential Projects Bandied About
Possible partial residential conversion of Crowne Plaza Hotel (300 units)
Possible BPV residential tower
Possible residential tower by Drury at Washington and Third
Possible residential conversion of old Millennium Hotel
As a result of no no new sizeable projects announced and moving the Crowne Plaza conversion off the planned column over to keep an eye on (as it appears it may stay a full hotel) the overall count of recently completed/under construction/planned is a couple hundred less than the last update in July. Also, the news that Spinnaker plans a tech hub instead of apartments in the old Metro HQ in The Landing was a somewhat disappointing move.
People in dense cities are thinner and have healthier hearts than people in sprawling subdivisions. New research says the secret is in the patterns of the streets.
http://www.theatlantic.com/health/archi ... _page=true
http://www.theatlantic.com/health/archi ... _page=true