Ford Plaza Apts. to be Renovated - 1405 Pine Street

fireman · PostAug 01, 2007#762007-08-01T17:06+00:00

I know we are all glad to see this building being redone, but being a new member on here and reading how impatient most forum members are, the expectation should be set that this will be a slow sell. With all of the competition at EVERY price point downtown, to expect a building located next to channel 24 and the Plaza apartments to sell quickly at ANY price is just ignorance.

The views are incredible, but walking to Washington Ave and getting hit up for money, or seeing the mess in Lucas Park (aka The Bum Bath) is undesirable at best. They are going to need some very special buyers for this projects. People who can see where the city is headed, not where it is today.

I'm so happy to see the building underway, and it will sell eventually, it's just going to take some time.

stlight · PostAug 01, 2007#772007-08-01T17:17+00:00

Welcome aboard fireman...couldn't agree with you more. Hopefully a project of this stature and those like it will speed up that progression you are talking about. I know it won't happen over night, but I think ST. LOUIS is well our way!

doug · PostAug 01, 2007#782007-08-01T20:06+00:00

I wouldn't pay 400k for a condo on the Gateway Mall. 400-450k could get a very nice loft in the Arcade which in my opinion has better views.

innov8ion · PostAug 01, 2007#792007-08-01T23:28+00:00

Doug wrote:I wouldn't pay 400k for a condo on the Gateway Mall. 400-450k could get a very nice loft in the Arcade which in my opinion has better views.

Let's compare apples with apples. I think the price per square foot is less in the Ford than the Arcade.

dweebe · PostAug 01, 2007#802007-08-01T23:43+00:00

innov8ion wrote:
Doug wrote:I wouldn't pay 400k for a condo on the Gateway Mall. 400-450k could get a very nice loft in the Arcade which in my opinion has better views.
Let's compare apples with apples. I think the price per square foot is less in the Ford than the Arcade.

Plus the attraction of only having two units per floor. And having park/trees on two sides would be interesting.

Though having one of the northern units and facing that ugly Brutalist City Courts building would suck.

dina · PostAug 02, 2007#812007-08-02T00:11+00:00

And...it depends on your idea of "a better view." The Arcade is surrounded by other tall building (except the OPO) where the Ford will have unobstructed views in 4 directions.

I'm still looking for the perfect place and so far, have yet to find it.

Although, I do like that the Ford has balconies & private elevators, but their kitchen placement & layout are not ideal, in my opinion, kind of tucked away with only 1 of the 4 walls open to the living area.

Plus, have you seen the "entertainment terrace?" It has what appears to be tall brick walls in your face. The only good views are from the hot tub which might hold 6-8 people max. Not exactly a terrace to have friends over to enjoy the skyline.

I'm not trying to knock the Ford building just stating my observations. I'm doing my homework! When we decide where we want to be we'll be sure.

Doug wrote:I wouldn't pay 400k for a condo on the Gateway Mall. 400-450k could get a very nice loft in the Arcade which in my opinion has better views.

thewayofthearch · PostAug 02, 2007#822007-08-02T08:58+00:00

dina wrote: The only good views are from the hot tub which might hold 6-8 people max.

Only 8? Dang! Thats not enough, we need at least 40 legs in that thing!

Yeah! 20 people sweating in water together! Aim for the sky...

Joking aside, a few points:

If NLEC(channel 24) is a reason not to purchase expensive condos there are a LOT of special people around...

The pseudo brutalist city courts building is not directly north of the Ford, and therefore will not diminish any vista that would not otherwise be spoiled by Centenary towers.

For the amount of money you pay, I'm sure they'll fashion the kitchen how ever you like...as the saying goes "You can get anything you want in this country with a little Push..."

I really like rooftop decks. But I also know that when living on the top floor, one can hear goings on on them. How would you like to buy the top floor penthouse of this thing, and here your dorm-mates being consenting in the Hot Tub...I'm pretty sure wealthy people consent in hot tubs like the rest of us...right?

And lastly, some people have called this building bland, boring, non-descript (never mind they're synonyms). The more I study it, the more I find great appreciation for its subtlety. The unoticed deco styling, especially the squares, neatly camoflagued by the brick, the shallow recesses, and understated entrance with numbering complementing the look...its really quite appealing, in a very demure architectural sense, IMO.

dweebe · PostAug 14, 2007#832007-08-14T19:35+00:00

Looks like they've ripped out all the windows and put wood over them. Hopefully this is a sign that interior tear-out work will start soon.

MattnSTL · PostAug 14, 2007#842007-08-14T19:42+00:00

The windows have been out since March...

dweebe · PostAug 14, 2007#852007-08-14T19:52+00:00

MattnSTL wrote:The windows have been out since March...

My bad. I don't know why I just noticed it last night

MattnSTL · PostAug 14, 2007#862007-08-14T20:04+00:00

I was hoping it was that, and it didn't just take you that long to post it.

citywatcher · PostAug 15, 2007#872007-08-15T02:13+00:00

Looks like they've ripped out all the windows and put wood over them. Hopefully this is a sign that interior tear-out work will start soon.

Hey Dweebe

you could have found that out on page 5 at about..

Posted: Mon Jul 16, 2007 6:40 pm

dweebe · PostNov 16, 2007#882007-11-16T18:57+00:00

Things are not going well.

1) There's a big sign on the door to the sales center saying "ASBESTOS-DO NOT ENTER".

2) The banner wrapping the rest of the first floor has been torn down and is laying on the sidewalk. There's also a bunch of trash from homless stacked around.

Hopefully someone from the building will clean it up. If not I'll go over there myself and do it. It looks like cr*p.

irocktheparty2000 · PostNov 16, 2007#892007-11-16T22:20+00:00

dweebe wrote:Things are not going well.

1) There's a big sign on the door to the sales center saying "ASBESTOS-DO NOT ENTER".

2) The banner wrapping the rest of the first floor has been torn down and is laying on the sidewalk. There's also a bunch of trash from homless stacked around.

Hopefully someone from the building will clean it up. If not I'll go over there myself and do it. It looks like cr*p.

Not surprising. I am very skeptical of this project. $400K + for units on the lower floors aint gonna happen. I think it should be office space except for maybe the top three of four floors. The higher up you are in this building is where the attraction is. Maybe even make the top floor one huge penthouse with views to all four sides. That place would rock!

resurrectus · PostNov 16, 2007#902007-11-16T22:39+00:00

dweebe wrote:Things are not going well.

1) There's a big sign on the door to the sales center saying "ASBESTOS-DO NOT ENTER".

2) The banner wrapping the rest of the first floor has been torn down and is laying on the sidewalk. There's also a bunch of trash from homless stacked around.

Hopefully someone from the building will clean it up. If not I'll go over there myself and do it. It looks like cr*p.

1) That's not a bad sign. That's a good sign that they're working hard to get all of the old asbestos insulation out. Many old buildings have asbestos and lead paint to be professionally removed. It's very common.

2) The wood trim around the windows looks new--so maybe they had to lower the banner to install the trim. They also need to seal around the windows and doors before safely removing the asbestos. You're right about the abandoned hobo stuff looking like cr*p. Maybe they're kindly waiting for the hobo to retrieve his cr*p. I wouldn't dispose of it if I were you. The hobo might return and see his cr*p missing, and then he may retaliate by breaking windows.

Alex Ihnen · PostNov 16, 2007#912007-11-16T23:00+00:00

^ I agree with Resurrectus.

resurrectus · PostNov 17, 2007#922007-11-17T00:43+00:00

dweebe, it's either just a coincidence or your post gets results. I just passed by there around an hour ago, and the large torn banner was gone, and all of the hobo's cr*p was cleaned up.

MattnSTL · PostDec 03, 2007#932007-12-03T05:46+00:00

I've been told that by a reliable source that only two units have sold here, and they were to the same person to be combined.

shimmy · PostDec 03, 2007#942007-12-03T12:54+00:00

Not really surprising, I haven't seen much about it outside of here and with it still boarded up it doesn't draw the much attention, especially in that part of downtown.

the central scrutinizer · PostDec 03, 2007#952007-12-03T13:18+00:00

Who wants to spend $500K for a condo next to a trash dump?

southcitygent · PostDec 04, 2007#962007-12-04T15:41+00:00

I still think the views from this building will be some of the best downtown. Got to love the monumental buildings around the civic plaza.

Alex Ihnen · PostDec 04, 2007#972007-12-04T16:06+00:00

And I would like the idea of being one of only two or three units on a floor. This could be one of the more exclusive buildings downtown. I don't think it really matters that the building isn't anything particularly special. There does seem to be many high-end options downtown and with new construction adding to the competition I would think that some of these projects will struggle.

Expat · PostDec 04, 2007#982007-12-04T19:22+00:00

In short order, this building will be considered well located. If they are unable to go high end because of a shifting market, or whatever. I hope they will go back to their original idea of entry level condos. Either way, I like the building and location.

notes from home · PostDec 05, 2007#992007-12-05T23:50+00:00

^ Me too. My ex & I were really interested in this place when it was first proposed as entry level. The location is fantastic. I think these apartments were what got she & I to register here in the first place. Oh well, things change a lot in 2 & a half years.

It's probably been said 1,000 time but I think it needs to be said at least once more. DT really needs more decent affordable places to live, especially for young people & people right out of school.

So where are there decent entry level condos, or even apartments DT? MyBluSpace? Anywhere? Bueller? Bueller?

jlblues · PostDec 06, 2007#1002007-12-06T00:14+00:00

^Yes, I have always thought that would be a great target market for downtown developers. I personally probably know a dozen people that are now renting that would be very interested in buying downtown if they could get in for 125% of their monthly rent, or ~1k a month. I realize that developers could get a better return on the higher end stuff, but since the market for those may be a bit saturated now, it would seem to make sense to go downscale. For whatever reason, local developers don't seem to think so.

I watched several entry level developments in Chicago go pretty fast - they always seem to be in high demand - so I would think it would be a great opportunity to turn around a project fast and move on to the next one. Plus, in my experience, those units appreciate better. You could even have a combination rental/entry level condo building, get a quick turnaround on the condo units, hold on to the rentals until the upscale market picks up again., and then convert, but what do I know?

Ford Plaza Apts. to be Renovated - 1405 Pine Street

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