Assuming this a BTS Office HQ deal and not a spec development, the lead tenant tells their developer their site criteria (location, square footage, demographics, etc)...then it’s the developers job to go find a site that fits the criteria. If the lead tenant wanted to be in Downtown, CORTEX, CWE, etc...this project would be there, not here. So can’t blame the developer. He’s doing his job.
270 and 64 is the most regional pinpoint of St Louis Metro. So this project is no surprise to me. Safe area and super regional for employees. Big metro bus terminal at Ballas/64. Restaurants and retail nearby. Parkway school district. Ladue school district. Airport is 10 min away.
Lastly, every house in the “beautiful” neighborhood decided to sign a contract to sell (probably well above value), so who cares about the homes and good for the sellers. The homes are old and easily replaced elsewhere.
With all that said, I wish these companies would move to CBD, Midtown, or CWE to continue to grow and improve the urban core. But I understand that companies have a very hard decision between self-less regional betterment or satisfying what the company employees/execuives personally want.
Best idea I’ve heard is move Enterprise to ATT Tower Downtown and open up their HQ property to re-development. Couple that with the Family Courts property, that’s the best chunk of real estate anywhere in St Louis metro. Everyone wins in this move - Downtown and County.