urbanSTL

bonwich wrote:Um, er, there's a giant parcel immediately adjacent to the EDWARD JONES Dome that has no developer and no current prospects other than pipe dreams.



Connect the dots, St. Louis.

what a great suggestion!

Edward Jones, Des Peres engage in high-stakes poker over project

By Jerri Stroud

ST. LOUIS POST-DISPATCH

05/14/2007



When Edward Jones Co. announced in October that it would add as many as 1,000 jobs and spend $260 million to revamp its Des Peres headquarters and its Maryland Heights campus, politicians embraced the news.



Gov. Matt Blunt, County Executive Charlie A. Dooley and Maryland Heights Mayor Michael Moeller were on hand to support the stock brokerage.



Des Peres officials were noticeably absent, although Edward Jones says they were invited. Des Peres officials say they were unaware of Edward Jones' plans until the day of the announcement, Oct. 25.



Indeed, the two sides have gone back and forth over the expansion plans. Now, Des Peres officials say they're unhappy with the proposal, which they say would create traffic headaches. And officials at the brokerage hint that if they can't expand in Des Peres, they may look to Arizona.



The company submitted its plan to the city Nov. 11. Since then, Maryland Heights has approved Jones' expansion plans in that city, including passing a new ordinance to allow construction of three buildings and related parking garages.



In Des Peres, Edward Jones says it has faced delay after delay. The dispute landed in court this year after the city's aldermen slapped a four-month freeze on development. They lifted it last month, but the suit still stands.



The rift grew deeper last week after the city's planning and zoning board voted 9-1 to deny the company's request for a site plan. A public hearing on the plan is scheduled for May 29.



Des Peres Mayor Rick Lahr says it would be unusual for aldermen to reverse the zoning board's recommendation. He says the city is being unfairly judged for making a careful review of Edward Jones' plans, which have been modified since they were originally filed.



While Lahr calls Edward Jones a "valuable corporate asset for Des Peres," he worries that the firm's plan to double the size of its headquarters at Manchester and Ballas roads would add to traffic congestion along those arteries. He also thinks the project is too dense for its 13.5-acre site.



Alderman Paul Fingerhut, who represents the ward that includes Edward Jones, says Des Peres officials are being rushed to approve the expansion without going through the city's normal process. Do you think Edward Jones should be allowed to expand its headquarters in Des Peres?



"What do we have against (Edward Jones)? Nothing, absolutely nothing," Fingerhut said. "It's just the size and scope of the project. You're trying to put a huge object on a small parcel."



Edward Jones responds that it needs the space — an additional 291,000 square feet on top of the 377,185 it already has — to accommodate its growth from 2,216 brokers in 1992 to 9,526 brokers at the end of last year. Revenue last year was $3.5 billion, up from $549 million in 1992.



Including its 250 branches, Jones has about 4,500 employees in the St. Louis area. The total includes 700 at the Des Peres headquarters building, 600 at a nearby building in St. Louis County, 1,366 in Maryland Heights and 865 at Maryville Center in Town and Country.



"We're growing," said spokesman John Boul. "We need to add jobs, and we'd like to do it at this location in Des Peres." The company lacks good alternatives to relocate in the St. Louis area, he said, but it does own land in Tempe, Ariz.



"It comes down to this: We need to expand to support projected growth," Boul said. "If we can't do it here, we'll do it somewhere else."



The proposal calls for a six-story addition to the company's 10-story building and a five-level parking garage that extends to within 38 feet of Ballas Road.



Boul said the company offered to reduce the size of the building by 15 percent, but he said the city gave no indication the change would be acceptable..



Denny Coleman, president and chief executive of the St. Louis County Economic Council, said Edward Jones' offer to reduce the size of the project was "a fairly generous response." Coleman said he has met with both sides to try to resolve the differences.



"There's been some progress," he said.



**Source**

"We're growing," said spokesman John Boul. "We need to add jobs, and we'd like to do it at this location in Des Peres." The company lacks good alternatives to relocate in the St. Louis area, he said, but it does own land in Tempe, Ariz.



"It comes down to this: We need to expand to support projected growth," Boul said. "If we can't do it here, we'll do it somewhere else."

How can we make sure someone in St. Louis City is reading this? If they're not then we have bigger problems than any of can imagine! There are great places to build in the metro area. The fact is that the infrastructure in Des Peres wasn't designed to have projects of this size built there - but there's excess capacity downtown - forget the earnings tax and negative perceptions . . . if the package was right EJ would move downtown - now someone needs to move quick. This isn't about reshuffling the deck - it's about making sure that a growing company can continue to grow in St. Louis. There are problems with expanding in the County and burbs that doesn't exist downtown. So EJ . . . come on down(town)!

Arch City - what do you think about the City making a play for all the EJ offices? It could be a nice new building downtown on the Metrolink line, a new highway 40 to get there, 44, 55 and 70 make it well connected . . .

The quote about Arizona makes it seem like it's only a matter of owning land. If only that were the case, then Pruitt Igoe would make a great campus for any major corporation.



Like Bonasch, I do find it ironic that Edward Jones chose to have their name on a downtown landmark. Although I think their campus looks like it belongs in Des Peres, I am thankful for the tax base that EJ's largest St. Louis-based competitor has maintained a large presence on Jefferson Avenue all these years.

Just to make sure someone in the city reads it, I sent an email to mayorslay.com. It would be great to have EDJ in a big tower downtown.

Probably one of the biggest problems facing Des Peres is that clusterfork they constructed for the 270-Manchester interchange, which in turn was predicated by the "blighted" West County Mall reconstruction.



Welcome to St. Louis, again.

Honestly, what are the odds that EJ can't work something out, picks up shop, and moves to Arizona. I really have no idea, but i feel like they would have to be royally pissed offended to actually leave the metro. Would you not think they would look elsewhere in the metro before leaving. I mean, it's really expensive to pick up all you're employees and hit the road. (I'm talking about uprooting families etc.)

I think Arizona is just a play Edward Jones is using to put heat on Des Peres. I'd give it the same likelihood of moving to Arizona as Busch Stadium had to getting built outside of the downtown area. They have A LOT of people here, and they could probably only assume that 50 - 75% would move which means they might lose a lot of talent. Not to mention the expense of moving - it's expensive just across town - think about the costs to move across country.



I understand that Des Peres is concerned about not being able to handle that much traffic at that location. I guess my question is have they shown proof? If they have, then Edward Jones are being jerks by proposing they should build there anyway just b/c they own the land - as it would impact Des Peres large tax base along Manchester Rd. However, Des Peres should be working with EJ to see if there is anyway to possibly make it work on that site.



I also can't believe Edward Jones is claiming there is no where else in STL to build. Are you kidding me!!?? First, if they want a sprawling campus there are plenty of spaces along the highways for large corporate campuses. Even better - there are a bunch of empty parking lots downtown that need development and I'm sure the city would be more than happy to offer SIGNIFICANT tax breaks if they showed interest.

bonwich wrote:Probably one of the biggest problems facing Des Peres is that clusterfork they constructed for the 270-Manchester interchange, which in turn was predicated by the "blighted" West County Mall reconstruction.

No kidding. I fail to see how the traffic can get any worse than it already is there.



So, why exactly do we have all of these freaking fiefdoms in St. Louis County?

The city should give the two blocks in front of AT&T to Edward Jones to build a 60 story tower, FOR FREE!!!!

Here's how it would go:



city: "here you are, two full blocks free of charge, and ten year tax abatement!!"

edward jones:"thanks, we'll take you up on that and move downtown and close our Des Peres operation, or perhaps keep a satellite office there"



everyone in region: =D>

But that would diverge from the master plan for the lovely half-mall!

^ True, but plans aren't all they're cracked up to be, and the city doesn't always follow them to the letter.



(I'm thinking of the recommendation that no parking should front the Old Post Office- that one sure worked out well.)

At least with new offices for EJ in the Mall, there would be cause to build the planned underground parking.



And so long as there were landscaping along Market Street, there would still be a visual axis between the Arch and Civil Courts. The construction of Gateway One years ago shifted the axis from in line with the Old Courthouse dome to along Market Street.



And the land in these blocks is technically City property (much of it LCRA), not parkland, so a vote per the new charter amendment shouldn't be required.

Fox 2 just had a story about Jones and a meeting tonight with Des Peres. I didn't hear most of it (in the next room), but I think I heard Dan Gray say something like "doesn't need city approval to move to another city."



Nothing on the Fox 2 website yet, but I'll keep checking if I can.