Jefferson Arms Apartments - 415 North Tucker Blvd

Renovations and new residential construction in downtown St. Louis, Washington Avenue, the Old Post Office, etc.
First unread post240 posts
symphonicpoet wrote:
Sun Oct 15, 2017 2:05 am
AlterraMike wrote:
Fri Oct 13, 2017 6:05 pm
Local press interviews were given by me personally for almost 30-45 mins in July after the above mentioned article. When there is an update Alterra will issue a Press Release. The press have all the contact info of our PR person. Alterra will be holding community outreach meetings for the STL citizens. Press is important but direct contact with STL community is irreplaceable.

Mike Sarimsakci
Best luck and thank you. Your replies are refreshing. I look forward to seeing what you can make of this project and others.


Thank you kindly.

Mike Sarimsakci
bprop wrote:
Fri Oct 13, 2017 8:16 pm
AlterraMike wrote:
Fri Oct 13, 2017 6:05 pm
Local press interviews were given by me personally for almost 30-45 mins in July after the above mentioned article. When there is an update Alterra will issue a Press Release. The press have all the contact info of our PR person. Alterra will be holding community outreach meetings for the STL citizens. Press is important but direct contact with STL community is irreplaceable.

Mike Sarimsakci
Thank you for the reply.

For those who are really anxious for this project and others to be underway and completed, can you give your evaluation as to whether articles like this are fair or not?
Developer for proposed Trump-branded Dallas hotel has history of unfinished projects, legal woes
...
But in teaming up with Sarimsakci, the Trump family business has chosen a man with a checkered business history and murky international ties who is prone to floating big plans for projects that don't always materialize, a Dallas Morning News investigation found.
...
While it's not uncommon for construction projects to encounter legal problems, experts say established commercial developers don't usually have trouble paying their property taxes on time.
...
Some Dallas officials aren't sure how seriously to take any of his claims, given that at least three ambitious plans he has floated for downtown failed to materialize (including a proposal to install a splash pool and other amenities on City Hall's plaza).
Can you give us some idea of how likely it is that the Jefferson Arms will be completed, relative to some of those other projects? What is your proposed timeframe?

I'm truly not trying to pick on you; in fact it's refreshing to see you posting here and I'm personally very appreciative. It's just that so many exciting projects in St. Louis have turned to vapor that many of us have become jaded to hearing about big plans.
Mike?
chriss752 wrote:
Fri Oct 13, 2017 3:13 pm
Happy to see Mike Sarimsaki joining the forum. Hopefully when the project starts, he will be the one to share updates on how the restoration is going.
Thank you Chris

Mike Sarimsakci
bprop wrote:
Fri Oct 13, 2017 8:16 pm
AlterraMike wrote:
Fri Oct 13, 2017 6:05 pm
Local press interviews were given by me personally for almost 30-45 mins in July after the above mentioned article. When there is an update Alterra will issue a Press Release. The press have all the contact info of our PR person. Alterra will be holding community outreach meetings for the STL citizens. Press is important but direct contact with STL community is irreplaceable.

Mike Sarimsakci
Thank you for the reply.

For those who are really anxious for this project and others to be underway and completed, can you give your evaluation as to whether articles like this are fair or not?

Developer for proposed Trump-branded Dallas hotel has history of unfinished projects, legal woes
...
But in teaming up with Sarimsakci, the Trump family business has chosen a man with a checkered business history and murky international ties who is prone to floating big plans for projects that don't always materialize, a Dallas Morning News investigation found.
...
While it's not uncommon for construction projects to encounter legal problems, experts say established commercial developers don't usually have trouble paying their property taxes on time.
...
Some Dallas officials aren't sure how seriously to take any of his claims, given that at least three ambitious plans he has floated for downtown failed to materialize (including a proposal to install a splash pool and other amenities on City Hall's plaza).
Can you give us some idea of how likely it is that the Jefferson Arms will be completed, relative to some of those other projects? What is your proposed timeframe?

I'm truly not trying to pick on you; in fact it's refreshing to see you posting here and I'm personally very appreciative. It's just that so many exciting projects in St. Louis have turned to vapor that many of us have become jaded to hearing about big plans.

Hello BP

Thank you for asking clarification. Butler Brothers in Dallas took 6-7 years to complete. Like Jefferson Arms it is a beast of a project. We have no illusions about the hard work we have ahead of ourselves. We need all the the community support behind us once the doors open.

Now the ball is on our court. We will do our best to get the Jefferson Arms done. You will hear our triumphs and challenges as it would be a transparent process. That I can promise.

Thank good we live in a democracy with the freedom of the press. Attached are some of the many positive articles about me from the same Dallas Business Journal. You could draw your own conclusions.





https://www.dallasnews.com/business/rea ... nergy-loan

https://www.dallasnews.com/news/news/20 ... nnial-life

https://www.dallasnews.com/business/bus ... r-startups

https://www.dallasnews.com/news/news/20 ... el-housing

Two bottom ones were my plans contingent upon getting into a Development and Disposition Agreement with the City of Dallas (you give me the land and I will build and share). There were other developers competing as well. The city decided not to move forward. That is that.


https://www.dallasnews.com/news/dallas- ... -developer

https://www.dallasnews.com/news/dallas- ... ific-plaza

I hope my answers were helpful.
AlterraMike wrote:

Now the ball is on our court. We will do our best to get the Jefferson Arms done.
I know it’s been asked before, but I haven’t yet been able to find a direct answer. When do you actually see construction beginning? Like within the next calendar year? Or is this still on the vision board with no solid way forward?

Thank you for taking our questions and investing in St Louis.


Sent from my iPhone using Tapatalk
Chalupas54 wrote:
Sat Oct 21, 2017 9:18 am
AlterraMike wrote:

Now the ball is on our court. We will do our best to get the Jefferson Arms done.
I know it’s been asked before, but I haven’t yet been able to find a direct answer. When do you actually see construction beginning? Like within the next calendar year? Or is this still on the vision board with no solid way forward?

Thank you for taking our questions and investing in St Louis.


Sent from my iPhone using Tapatalk

Hello Chalupas54

There is plenty to read up from the press. But I could provide more detail. I hope I won't bore you with technicalities. Bottom line very challenging project with multitude of moving parts.



1-). asbestos abetment and demolition needs to take place before construction (rehab) starts. Bid it out. Received bids and selected a contractor for asbestos and demo work. Waiting for brown field tax credits to come in so the work can start. Any delay after Nov 1st will push the start of construction by equal amount. Schedule for asbestos abetment and demo is 12 months.

3-). Our architects and engineers are on schedule with our design and construction documents for construction/ rehab work to submit for permit around December 2017 to the city. Should get the permit by February.

3-). Our initial construction start date was March 2018. It will take 2 years to finish with first 3 floors opening 1 year earlier. Delay in asbestos start date will cause a delay. I need to give at least 3 months time to asbestos cleanup people before the construction work could start. Rehab/construction work will be chasing the asbestos abetment contractor.

4-). Project Financing is going oky. Starting to get some feedback. Historic tax credit is delayed due to Many applicants.

5-). Internal Design department started sourcing Furniture Fixture and Equipment.

6-). Marriott AC is very excited. All is going well.

7-). Chose already a leasing/property manager.

8-). Selecting a local branding/marketing firm in. 2 weeks from multiple bidders.

Bottom line, critical path is the brown field tax credits. With the approval I could proceed. Asbestos removal and interior demolition cost will be reimbursed basically. I have to first spend the money then Then the reimbursement will take place. Latest number is $11 million!!!
AlterraMike wrote:
Chalupas54 wrote:
Sat Oct 21, 2017 9:18 am
AlterraMike wrote:

Now the ball is on our court. We will do our best to get the Jefferson Arms done.
I know it’s been asked before, but I haven’t yet been able to find a direct answer. When do you actually see construction beginning? Like within the next calendar year? Or is this still on the vision board with no solid way forward?

Thank you for taking our questions and investing in St Louis.


Sent from my iPhone using Tapatalk

Hello Chalupas54

There is plenty to read up from the press. But I could provide more detail. I hope I won't bore you with technicalities. Bottom line very challenging project with multitude of moving parts.



1-). asbestos abetment and demolition needs to take place before construction (rehab) starts. Bid it out. Received bids and selected a contractor for asbestos and demo work. Waiting for brown field tax credits to come in so the work can start. Any delay after Nov 1st will push the start of construction by equal amount. Schedule for asbestos abetment and demo is 12 months.

3-). Our architects and engineers are on schedule with our design and construction documents for construction/ rehab work to submit for permit around December 2017 to the city. Should get the permit by February.

3-). Our initial construction start date was March 2018. It will take 2 years to finish with first 3 floors opening 1 year earlier. Delay in asbestos start date will cause a delay. I need to give at least 3 months time to asbestos cleanup people before the construction work could start. Rehab/construction work will be chasing the asbestos abetment contractor.

4-). Project Financing is going oky. Starting to get some feedback. Historic tax credit is delayed due to Many applicants.

5-). Internal Design department started sourcing Furniture Fixture and Equipment.

6-). Marriott AC is very excited. All is going well.

7-). Chose already a leasing/property manager.

8-). Selecting a local branding/marketing firm in. 2 weeks from multiple bidders.

Bottom line, critical path is the brown field tax credits. With the approval I could proceed. Asbestos removal and interior demolition cost will be reimbursed basically. I have to first spend the money then Then the reimbursement will take place. Latest number is $11 million!!!
Alrighty! Thank you very much for the info!


Sent from my iPhone using Tapatalk
I'm keeping my fingers crossed for this development to move forward its one of many excited potential big changers in Downtown.
Cant wait to see this building come to life and lit at night!
Curious will this building keep its original name or will it be rebranded?
St.Louis1764 wrote:
Sat Oct 21, 2017 6:46 pm
I'm keeping my fingers crossed for this development to move forward its one of many excited potential big changers in Downtown.
Cant wait to see this building come to life and lit at night!
Curious will this building keep its original name or will it be rebranded?
Good evening,

Our thought is to keep the Jefferson Arms and branded as such. We have done the same in Dallas calling the development Butler Brothers Building.

Mike Sarimsakci
Dear all

We will have new press release coming out next week. It will mainly focus on Steet Landscape and ground floor retail.

Mike Sarimsakci.
AlterraMike wrote:
Thu Oct 26, 2017 7:31 pm
Dear all

We will have new press release coming out next week. It will mainly focus on Steet Landscape and ground floor retail.

Mike Sarimsakci.
Thank You! Can't wait to write it up for my blog! Still happy to have your insight on here Mike.
Yeah, I'll add my voice to the others here and say how much we appreciate your engagement here, Mr Sarimsakci.

This is a rare and very much appreciated treat to interact directly with a developer in a public forum like this. Whether or not we agree with every decision or method, nobody can say you haven't been transparent.

-RBB
A bit more info on the timeline here:

http://www.constructforstl.org/jefferso ... ime-frame/
AlterraMike wrote:
Thu Oct 26, 2017 7:31 pm
Dear all

We will have new press release coming out next week. It will mainly focus on Street Landscape and ground floor retail.

Mike Sarimsakci.

Bolded would be fantastic for that section of Tucker.
No doubt.... frustrating as heck quality Tucker streetscaping didn't happen with the new bridge as it was supposed to.