Cupples X Office Building

Downtown construction activity, including hotel projects, major renovations, office projects, streetscape improvements, etc.
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St.Louis1764
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Re: Cupples X Office Building

Unread post by St.Louis1764 » Tue Jan 03, 2017 6:16 pm

So this either gets approved or not? I'm going to go out on a limb and say this does get built however instead of Asynchrony possibly occupying the new building maybe Microsoft or a new company completely not in the St.Louis region the same with BPV 2.. Does anyone think that the requested tax abatement puts this development on a pedestal?


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andrewarkills
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Re: RE: Re: Cupples X Office Building

Unread post by andrewarkills » Tue Jan 03, 2017 6:52 pm

St.Louis1764 wrote:So this either gets approved or not? I'm going to go out on a limb and say this does get built however instead of Asynchrony possibly occupying the new building maybe Microsoft or a new company completely not in the St.Louis region the same with BPV 2.. Does anyone think that the requested tax abatement puts this development on a pedestal?

Thus far, they have not asked for an abatement. They have requested a TIF well above the normal 15% maximum allowed by the City. Thus the 3 straight continuences. Koman is likely looking for a more ironclad tenant while also playing a game of "who blinks first?" with SLDC and the TIF Commission.

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St.Louis1764
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Re: RE: Re: Cupples X Office Building

Unread post by St.Louis1764 » Tue Jan 03, 2017 7:08 pm

andrewarkills wrote:
St.Louis1764 wrote:So this either gets approved or not? I'm going to go out on a limb and say this does get built however instead of Asynchrony possibly occupying the new building maybe Microsoft or a new company completely not in the St.Louis region the same with BPV 2.. Does anyone think that the requested tax abatement puts this development on a pedestal?

Thus far, they have not asked for an abatement. They have requested a TIF well above the normal 15% maximum allowed by the City. Thus the 3 straight continuences. Koman is likely looking for a more ironclad tenant while also playing a game of "who blinks first?" with SLDC and the TIF Commission.


Thats what i meant TIF

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andrewarkills
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Re: Cupples X Office Building

Unread post by andrewarkills » Tue Jan 03, 2017 7:26 pm

Two different public financing mechanisms. But I get what you're saying.

The large TIF request certainly makes it unique. With the increased scrutiny on these types of incentives, also much more difficult to justify. Especially given who the potential tenant was/is and the fact they would largely be moving from another Koman development literally across the street.

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Re: Cupples X Office Building

Unread post by STLrainbow » Tue Jan 03, 2017 7:34 pm

^ yeah, there's been the mention of them considering keeping the Cupples 9 headcount and filling Cupples X with additional employees; that would be a much better proposition, but should be a commitment as part of the approval process.


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chriss752
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Cupples X Office Building

Unread post by chriss752 » Tue Jan 03, 2017 11:03 pm

I wonder if it has been redesigned in anyway to add some retail space and other things to it. Possibly a full redesign to compete with the BPV 2 Office Building. But if it does move forward in its current design, I think it will be a great addition to 8th Street. And then hopefully this development helps push interest into the lots South of Interstate 64.


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