Ely Walker Lofts - 1520 Washington Avenue

midcoaststl · PostJun 25, 2008#4012008-06-25T20:41+00:00

Cool,

I have been trying to figure out if the space was going to be leased. I noticed the for lease sign was out of the window but thought that it may have fell down.

Not my first thought but it would be a needed store in DT.

downtown2007 · PostAug 31, 2008#4022008-08-31T17:37+00:00

It was just communicated to us that the remaining unsold units will be changed to rental apts. Has this happened in other buildings? I am sure there a plenty of positives and negatives. Is this generally good or bad?

ttricamo · PostAug 31, 2008#4032008-08-31T20:12+00:00

I think you'll have several different view points on this but I would seriously reconsider purchasing a loft in a building that's going to begin renting its unsold units. I personally know people that live in the loft district, own the lofts they live in, and live next to individuals that are not only renting the lofts but are having a portion of that rent subsidized. Again, depending on personal preference, once could view that as living in a diverse situation or purchasing a loft that could rapidly lose value depending on the renters. Will the other loft owners have any say in who can rent?

rencelas · PostSep 01, 2008#4042008-09-01T01:10+00:00

Downtown2007 wrote:It was just communicated to us that the remaining unsold units will be changed to rental apts. Has this happened in other buildings? I am sure there a plenty of positives and negatives. Is this generally good or bad?

My girlfriend and I really liked the Ely Walker lofts, but weren't quite at the point of purchasing when we moved here 3 months ago.

I'm a bit sad that the rest will be moved to rental. I understand the developer's desire to get out from under those as dead weight, but given the plethora of rental options, are they really going to fill up?

How many of the units are still empty?

stlcityres · PostSep 01, 2008#4052008-09-01T16:59+00:00

Everyone I talk to says the rental market in the Loft District is very strong. And there was a recent article about a South City realtor who says the same thing for his area. I think it's better for the building and the neighborhood to be full rather than have a bunch of empty units.

jlblues · PostSep 01, 2008#4062008-09-01T17:38+00:00

^It all comes down to how well they screen applicants. Generally, it is a positive for the building owners, but not so much for loft owners.

sshoe · PostSep 02, 2008#4072008-09-02T17:54+00:00

If you're an owner trying to sell a unit right now, it generally doesn't hurt to have a number of units taken off the market. Less competition.

On the other hand, it's not necessarily the best thing in the long term. Has there been any indication of whether or not they'll convert back to condo if and when the market stabilizes?

avantstl · PostSep 02, 2008#4082008-09-02T18:40+00:00

The developer is taking advantage of some tax credits for creating apartments and must keep them as apartments for 5 years. The developer can then sell them as condos if the market warrants selling them at that time.

I think it is great that this is an option for struggling developers right now. The downtown rental market is very strong. I agree that reducing the glut of new condo units on the market will help the condo resale market.

dweebe · PostSep 02, 2008#4092008-09-02T19:37+00:00

STLCityRes wrote:Everyone I talk to says the rental market in the Loft District is very strong. And there was a recent article about a South City realtor who says the same thing for his area. I think it's better for the building and the neighborhood to be full rather than have a bunch of empty units.

When we looked at a unit in the Annex Lofts about two months ago, we counted 18 realtor/Supra boxes in the front entry area.

zink · PostDec 17, 2008#4102008-12-17T19:16+00:00

I have seen a couple ads for the new rentals at ELY, however, no where do they show prices.

Why again do people advertise and not show prices? Usually when that occurs I completely ignore the product. Either bc I think they are trying to hide something, or I just think it is too expensive and that is why they didnt advertise the price. Where is the transparency!?

(BTW this place looks it has some real potential being lofts and rental. Since the only large scale project that offers rentals is the Merchandise Mart)

downtown2007 · PostJan 21, 2009#4112009-01-21T20:11+00:00

Any word on the Wine Bar or Ace hardware that was supposed to go in?

innov8ion · PostJan 21, 2009#4122009-01-21T22:12+00:00

^ Perhaps they are still "hammering" out the details.

the central scrutinizer · PostJan 22, 2009#4132009-01-22T00:44+00:00

innov8ion wrote:^ Perhaps they are still "hammering" out the details.

Stop your whining.

ttricamo · PostJan 26, 2009#4142009-01-26T02:17+00:00

Just queried MARIS for current lofts for sale on the market; that number is 122.

midcoaststl · PostJan 26, 2009#4152009-01-26T04:35+00:00

Have been told by ELY walker Mngmt that ACE will start construction soon, (this month or feb) and that the wine bar fell through. The Jazz cafe is planned for the old red moon space though.

downtown2007 · PostJan 26, 2009#4162009-01-26T05:07+00:00

Thanks MidcoastSTL!!!

pillpusher2007 · PostJan 26, 2009#4172009-01-26T05:49+00:00

The Central Scrutinizer wrote:
innov8ion wrote:^ Perhaps they are still "hammering" out the details.

Stop your whining.

Dont you mean stop "wining".....

zink · PostJan 26, 2009#4182009-01-26T14:11+00:00

MidcoastSTL wrote:Have been told by ELY walker Mngmt that ACE will start construction soon, (this month or feb) and that the wine bar fell through. The Jazz cafe is planned for the old red moon space though.

That sounds good... and hope the best for them. I will most likely be doing all my shopping there, but not sure how many other people will be, since of this economy. Everyone wants the cheapest of the cheap, and ACE definitely has a price premium.

Look at all the people who shop at Walmart to save 2 pennies over an item at Target. Walmart is actually more expensive than Target, except for their items that are in the middle of aisle and end caps. Yet more people are shopping at Walmart just because of the PERCEIVED savings of a couple pennies.

midcoaststl · PostJan 26, 2009#4192009-01-26T16:10+00:00

I am actually very excited for ACE. It is a pain to have to run to Lowes or Home Depot to get basic hardware items. It will be nice to have a place for air filters, paint, etc that is in walking distance for most loft dwellers. Soon we will have 2 grocery stores and hardware store, book store, bars, restaraunts, Hair salons, taning beds, dentists, etc! Wow DT sure has come a long way!

innov8ion · PostJan 26, 2009#4202009-01-26T17:43+00:00

^ Yes, "wining." And don't forget pizza by the slice...

dina · PostJan 27, 2009#4212009-01-27T03:26+00:00

zink wrote:
MidcoastSTL wrote:Have been told by ELY walker Mngmt that ACE will start construction soon, (this month or feb) and that the wine bar fell through. The Jazz cafe is planned for the old red moon space though.

That sounds good... and hope the best for them. I will most likely be doing all my shopping there, but not sure how many other people will be, since of this economy. Everyone wants the cheapest of the cheap, and ACE definitely has a price premium.

Look at all the people who shop at Walmart to save 2 pennies over an item at Target. Walmart is actually more expensive than Target, except for their items that are in the middle of aisle and end caps. Yet more people are shopping at Walmart just because of the PERCEIVED savings of a couple pennies.

The savings is not 2 pennies but more like .25-.50 pennies per item which translates to dollars multiplied by weeks, months & years... have you ever actually shopped at both stores? For groceries & toiletries Walmart is consistently much less expensive. I don't agree with some of their business practices but there's no way you can compare the savings with Target. (And I LOVE Target's merchandise.) But I live 5 minutes from a Wal-mart & 20 minutes from a Target one way...so, what I save in gas & time alone is not worth the trip.

juiceinkirkwood · PostJan 27, 2009#4222009-01-27T04:03+00:00

And I would most certainly disagree that Wal Mart is more expensive than Target on much of anything. One example is a Digiorno (sp?) pizza that's like $7 at Target, $5 at Wal Mart. Other than electronics, it's many times 20 cents or more cheaper. I still prefer to give business to Target over WM, but you can't deny that you can save money at WM.

zink · PostJan 27, 2009#4232009-01-27T04:48+00:00

Like I said, the savings come from the middle boxes and "end caps." The end caps are shelves that face the main aisles in case peeps arent into the retail lingo

They do this to get you in the store, you see the super low prices, and think everything else is cheaper.

Also, Yes... walmart may have cheaper prices on same items such as chairs, suitcases... random larger items... but that is because Target will not sell REALLY sh*tty quality products.

If you can find any google search of walmart being cheaper, please post. I just did a search and most were all saying target was actually cheaper in most catagories...

Yes, I shop at both stores. And in case of pet food, and cat litter... Target is cheaper. But now I shop downtown, City Pet Supply!

innov8ion · PostJan 27, 2009#4242009-01-27T06:01+00:00

Zink is closer to being right. Perception is reality to most people. But actual reality matters too, sometimes.

http://www.businessweek.com/innovate/content/oct2008/id2008101_402322.htm?campaign_id=rss_innovate wrote:Just a couple of years ago, Target (TGT) was the darling of discount shoppers. The retailer profited from exclusive, stylish goods created by such big-name designers as Isaac Mizrahi and Michael Graves. But in today's rocky economy, Target seems out of fashion. Same-store sales are down, and net income is sinking. Even Target executives pin the troubles in part on the widespread perception that the chain is more expensive than Wal-Mart (WMT) because of its focus on trendy clothes and home accessories.

So how is Target revising its sales strategy as it heads into the holidays? It is actually ramping up its designer collection, with more labels than ever. But the $63.4 billion company is also recalibrating its marketing pitch to highlight low prices. In other words, customers can have hip brands and afford them, too.

Consumers may think otherwise, but Target's average prices fall within 1% to 2% of Wal-Mart's, including designer collections, says Charles Grom, a retail analyst at JPMorgan Chase (JPM). To drive that point home, Target is playing up deals in newspaper ads, says Kathryn A. Tesija, executive vice-president for merchandising. And in stores, new, prominent signs shout out not only designers' names, but also how much their products cost. "Our emphasis is now on the 'pay less' side of our 'expect more, pay less' brand message," she says.

pillpusher2007 · PostJan 27, 2009#4252009-01-27T07:42+00:00

Save yourselves an online argument. Here is a general outline to point you in the right direction no matter where you choose to spend your hard earned wages. This will generally save you tons of money. If you already do so I apologize.

http://money.cnn.com/magazines/moneymag/valuejudgments/

The rest of the details are personal preference.......although they can be entertaining to argue. Spending an extra few bucks at ACE once or twice a month will not break the bank unless your spending major cash on some serious equipment.

PS Dont buy name brand household cleaners....waste of money!

...back to Ely Walker.....I heard there was an ACE hardware going in..

Ely Walker Lofts - 1520 Washington Avenue

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