CORTEX: St. Louis' Life Sciences and Technology District

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^ I think it is a carry over from phase 3 announcement. Might be very much CORTEX desire to have apartment at that location as proposed but who knows when it comes together or if space demand changes the thinking over time.

Would this be the second or third place, cafe, eatery in Cortex? I think it is interesting to speculate on what Bissinger is thinking. Do they see enough demand based on existing traffic? Do they think their will be enough new traffic between Aloft and Microsoft to support another eatery? or better yet, Cortex gave a good enough deal and has hinted to them that more is to happen in the near future that it is in part a speculative play on future demand.
STLrainbow wrote:
Wed Apr 11, 2018 11:51 am
Here's the BizJournal story.

https://www.bizjournals.com/stlouis/new ... ortex.html

It contains an ackward last paragraph...

The new developments will be located in the $55 million 4220 building, Cortex's third phase that will be anchored by Microsoft's new regional headquarters and the district's first hotel, Aloft Hotel. The third phase will also feature a 180,000-square-foot technology office facility, a 200-unit apartment building and a 1,000-space parking garage.

Not sure if that's just repeating the old announced plans or means the apartment building will be moving ahead along with a second tech office facilty. Wouldn't doubt the garage is 1,000 spaces.

the garage was suppose to be 600 or so spots originally but currently Cortex leases 300 spots from WUSM, that WUSM is taking back when the lease is up in June.
^ thanks.

^^ right now there's Park Ave coffee and Vicia in the core, along with the deliciousness of IKEA to the east. There'll also be a restaurant fronting Duncan as part of The Aloft Hotel development and I wouldn't be surprised if a casual grab n' go type place takes up the vacated Tim Horton's space. (I also think the adjacent space to THo's that has yet to be fully built out also can be commercial.)

Anyway, I think there is room for all that, especially as it continues to grow. And Vicia is more of a destination restaurant that I don't think is dependent on Cortex employees. Sounds like maybe the Chocolate Pig may have some of that larger attraction as well. (as opposed to the grab n go market.)
Developer plans more buildings in St. Louis' booming Cortex innovation district

http://www.stltoday.com/business/local/ ... e49fb.html
Cortex President and CEO Dennis Lower said the district also will start developing a 650-car parking garage on the site over the summer.
Plans for the garage were paused for most of last year after developers decided the initial plan for a larger garage and 220 connected apartments was not financially viable. The apartments portion of that project remains stalled, while the construction of a $28 million, 129-room Aloft Hotel at 4245 Duncan Avenue is expected to begin soon. A new $13 million MetroLink station is also under construction nearby and should open later this year or early next.
^ And for looking ahead....

Mark Gorski, director of development at Wexford Science and Technology, said the Baltimore firm has had master planning exercises with design firm HOK for two new buildings that would likely be similar to the new Microsoft building at 4220 Duncan Avenue and the @4240 facility Wexford developed for $73 million in 2014.

“Because of the success we’ve seen with our other buildings, we’re anticipating future growth and are planning for that — we’re definitely in that (growth) mode,” he said. “We’re spending considerable dollars going down that road in terms of design and are exploring what the best use of that remaining space could be, but it’s too early to speculate on a timeline of when we may break ground.”
Both PD and BizJournals had articles on Crescent building. I like the follow paragraph from the PD article link and speculate that maybe some drive behind CORTEX/Wexford in working with HOK as reported earlier

Believe Crescent is last building within CORTEX footprint that can be rehabbed and going forward you are talking infill of surface lots. A big turning point.

http://www.stltoday.com/business/local/ ... d8a06.html


In addition to redesigned and additional space for early-stage companies, Rubin said there will be lab space for growing companies to “graduate” into from the accelerator. Rubin and other biotech advocates in the region have pointed to the need for affordable lab space that startups can move into after the incubator stage.

While the Crescent rehab will address some immediate needs, Rubin said “we need to keep our eyes on the ball” and continue adding lab space to enable biotech entrepreneurs. “This building won’t solve the demand for lab space,” he said.
^ The Cortex District is almost tapped out on rehab potential but not quite.

Partner WashU owns the warehouse building catty-corner to the Crescent... somewhat reminiscent in character to the ones demo'd on the other side of Duncan to make way for the Aloft hotel etc.; could be neat rehab but my guess is demo here, too. WashU also owns the collection of duplex and multifamily properties just to the west of the Cortex One building on Forest Park Avenue; my guess is they'll continue as residential until eventually making way for new construction down the (long) road.

Besides those, I have to think more buildings inside the official district will be acquired for Cortex use. On the south side of FPA you have the rather significant Legal Services, Extra Space Storage and Goodwill buildings.. On the north side you have the Salvation Army's collection of less significant buildings (and more likely demo-destined) across from IKEA... I wouldn't doubt some of these non-profits sell at some point similar to what Habitat For Humanity did; generally a win-win I think. .There's also a couple buildings on Laclede behind the Salvation Army that are in the official district footprint.
It isn't quite clear from the articles, but I take it that if Biogenerator/BioSTL is consolidating operations in the Crescent the lab space it has now in the Cortex One Building will be available for backfill for others.. If there indeed is a shortage of lab space, it should be filled in pretty short order, And I guess it's getting the programming staff that are now in Clayton but I don't think that's too many folks.

Also, not sure if its been mentioned before but it looks like Square is taking up space in the old TechShop location.
^ Bizjournals must be reading your post on the question if need for space is out there? Right on time with article. Not specific to CORTEX but matches up with a fair share of development proposals on the table.

https://www.bizjournals.com/stlouis/new ... gtech.html

At stake is the ability to grow and retain startups that could develop into the next Ralston Purina, Monsanto or Express Scripts, driving the St. Louis economy for decades to come.