From what I have heard, it's outperforming expectations. Many of my SLU friends go there frequently for the cafe, and all have purchased their form furniture from there.debaliviere wrote:Anyone know if the IKEA is performing up to expectations?
People familiar with the matter told the Business Journal in 2013 that annual sales at the store would top $100 million.
St. Louis probably isn't high on their list...but our Ikea is smack dab in the center of the city...Ingka Centres’ move into city locations comes alongside furniture giant Ikea’s strategy shift towards smaller albeit more accessible inner-city stores with more digital and other services. Along with its rivals, Ingka Centres has also increased the share of restaurants and entertainment at its centers in recent years to adapt to consumers’ online shift and a tougher retail landscape.
“We plan to build mixed-use facilities that we call meeting places and that have a wide range of facilities and services,” Groener said, adding activities could range from healthcare and education to festivals and events, besides retail and food.
Well Ikea has 423 stores in 52 markets. Their planning to buy up properties in 45 markets. So I think we may have good chances.sc4mayor wrote: ↑May 15, 2020Not related to St. Louis, but Ikea's shopping mall business, Ingka Centres, is looking to buy up properties in 45 urban cores around existing Ikea stores. New York, LA, Chicago, and San Francisco were specifically mentioned.
St. Louis probably isn't high on their list...but our Ikea is smack dab in the center of the city...Ingka Centres’ move into city locations comes alongside furniture giant Ikea’s strategy shift towards smaller albeit more accessible inner-city stores with more digital and other services. Along with its rivals, Ingka Centres has also increased the share of restaurants and entertainment at its centers in recent years to adapt to consumers’ online shift and a tougher retail landscape.
“We plan to build mixed-use facilities that we call meeting places and that have a wide range of facilities and services,” Groener said, adding activities could range from healthcare and education to festivals and events, besides retail and food.
https://www.stltoday.com/business/local ... 815a6.html
My thought when reading the description in the article is right next door in the Foundry development. Who knows, if Foundry flounders or struggles to get some traction after Covid their might a be a willing investor next door.sc4mayor wrote: ↑May 15, 2020Not related to St. Louis, but Ikea's shopping mall business, Ingka Centres, is looking to buy up properties in 45 urban cores around existing Ikea stores. New York, LA, Chicago, and San Francisco were specifically mentioned.
St. Louis probably isn't high on their list...but our Ikea is smack dab in the center of the city...Ingka Centres’ move into city locations comes alongside furniture giant Ikea’s strategy shift towards smaller albeit more accessible inner-city stores with more digital and other services. Along with its rivals, Ingka Centres has also increased the share of restaurants and entertainment at its centers in recent years to adapt to consumers’ online shift and a tougher retail landscape.
“We plan to build mixed-use facilities that we call meeting places and that have a wide range of facilities and services,” Groener said, adding activities could range from healthcare and education to festivals and events, besides retail and food.
https://www.stltoday.com/business/local ... 815a6.html
In terms of surface parking, all of them. Atlanta's is the only one I've seen with a garage instead of surface parking, and there are a lot of new, large low-rise apartment buildings nearby, but the area it's in is more like a Brent-Maplewood.GoHarvOrGoHome wrote: ↑May 15, 2020Maybe they can suck up some of their massive parking lot or the North Silo Lot. How many truly urban Ikeas are there in the US with that much empty space around. Sky is the limit.
This almost feels too self-aware, almost as if they realize that acres and acres of parking isn't the best use of land in a central urban core.SRQ2STL wrote: ↑May 10, 2022"...the highest and best use of the property, Ikea said, was to demolish it..."
I confess, I won't mourn either the box or the asphalt when they chose to demolish them and build back less bad. But I do think they need to pay up, even if it's good business to avoid doing so as much as possible. It's also good civics to tax your stakeholders appropriately so that you can maintain a healthy city. (So it would be equally foolish for the city not to raise the assessment.)_nomad_ wrote: ↑May 10, 2022This almost feels too self-aware, almost as if they realize that acres and acres of parking isn't the best use of land in a central urban core.SRQ2STL wrote: ↑May 10, 2022"...the highest and best use of the property, Ikea said, was to demolish it..."
That said, I like IKEA and think it's an overall benefit for the city and I realize business is business, they'd be foolish not to challenge the assessment.
