The best part of the first few posts on this thread is urbanstlouis mentioning the possibility of a Borders and a Gap in downtown St. Louis. That made me smile. 25% of Gap stores since 2004 are closed, and every Borders is gone. What a changed world.
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^^ the arcade-wright is another contemporary thread that is funny to take in a time warp.
Interesting how IKEA is on the map of key attractions on the map given out at the NGA hearing.
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Well obviously they'd have to furnish the new offices.dweebe wrote:Interesting how IKEA is on the map of key attractions on the map given out at the NGA hearing.
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Was in the IKEA dining room today for the first time in daylight.... it really does provide a great view, including many of the redevelopment projects. Cranes in the CWE, West Pine Lofts, the other one going up on Pine, Gerhardt Block, SLU dorm, etc. etc. And then you get to imagine what will be on sites targeted for redevelopment.
EDIT.... with the news of Cortex buying the scaled-back Midtown Station site Pace bought (and hopefully the Federal Mogul site from those owners later) and banking for something more mixed-use and robust, I wonder if it would have been a better site plan to have IKEA east of Vandeventer and the more dense development on the existing IKEA site. But it is what it is.
EDIT.... with the news of Cortex buying the scaled-back Midtown Station site Pace bought (and hopefully the Federal Mogul site from those owners later) and banking for something more mixed-use and robust, I wonder if it would have been a better site plan to have IKEA east of Vandeventer and the more dense development on the existing IKEA site. But it is what it is.
I like how people are drawn right up to the window to check out the view. Lot's of folks who aren't familiar with the City (other than stadiums and concert halls) are finally getting the opportunity to see the fast-changing heart of the City firsthand.
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And the view of that parking lot is breathtaking! All kidding aside, it does offer a great view of Midtown.
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I go for the chocolate cake and stay for the view.
Not trying to turn this place in to an ad; but kids eat free on Tuesday nights at IKEA.
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^ Yup... you can fill em up and then send them to the play pen for an hour while you shop. Or enjoy your free coffee.
(No, I'd never do an ad for IKEA either.)
(No, I'd never do an ad for IKEA either.)
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^So sick and tired of hearing about how brilliant that Funke is. Over-rated!
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The Continental looks a mile high from that spot. I love the Midtown skyline.
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^ yeah, and the Masonic Temple is awesome.
^^ I go to IKEA dressed as a nevernude.
^^ I go to IKEA dressed as a nevernude.
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I only hope that the Gries addition lives up to the legacy of Lawrence Biondi. It's at least as important as I believe it is, to me anyway. <hic> 
New elevators and such will really help.
New elevators and such will really help.For me the nice part of having an IKEA in St. Louis now I don't have to schedule a half day (or more) when going to Chicago to stop by one of their stores in the suburbs up there to keep the wife happy.
Stl BJ - Following Ikea’s opening, state sales tax revenue climbs 40% in 63110
http://www.bizjournals.com/stlouis/news ... venue.html
http://www.bizjournals.com/stlouis/news ... venue.html
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^ regarding the city's TIF, can someone elaborate on this...
The city of St. Louis provided $37.1 million in tax increment financing subsidies for the construction of the Ikea store, an $80 million project, plus $30 million spent to acquire the land. The city said the store would generate $250,000 in new taxes for the city annually.
This makes it seem like the $250K goes to the city's budget for services etc.... is that the case or is it just going back to IKEA to cover the TIF?
The city of St. Louis provided $37.1 million in tax increment financing subsidies for the construction of the Ikea store, an $80 million project, plus $30 million spent to acquire the land. The city said the store would generate $250,000 in new taxes for the city annually.
This makes it seem like the $250K goes to the city's budget for services etc.... is that the case or is it just going back to IKEA to cover the TIF?
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I believe the TIF revenue goes to finance the bond payments that the City backed to finance the project. Does not hit general revenue. Only silver lining is if TIF is paid off early, then City realizes tax benefit of project sooner.STLrainbow wrote:^ regarding the city's TIF, can someone elaborate on this...
The city of St. Louis provided $37.1 million in tax increment financing subsidies for the construction of the Ikea store, an $80 million project, plus $30 million spent to acquire the land. The city said the store would generate $250,000 in new taxes for the city annually.
This makes it seem like the $250K goes to the city's budget for services etc.... is that the case or is it just going back to IKEA to cover the TIF?
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That doesn't seem like a very good rate of return, I hope the city is getting some other cash benefits via income taxes or something.
I'm pretty sure the earnings taxes aren't TIF'd. Though at 14 jobs per acre, the Ikea isn't particularly stellar.
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Well, if the benefits accrue to the city, it's all the same, right?quincunx wrote:I'm pretty sure the earnings taxes aren't TIF'd. Though at 14 jobs per acre, the Ikea isn't particularly stellar.
Are you talking about the earnings tax comment or the land productivity comment?
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The earnings tax. The land productivity issue is about the scale of the benefit, not where the benefit is directed.quincunx wrote:Are you talking about the earnings tax comment or the land productivity comment?
