If you click on the following link, scroll down to the Richmond Heights Property "Pinnacle Square" and open the property brochure you will see that the map for nearby retail shows "proposed Menards" and "proposed Ikea"
^ off subject, but too bad phase II & phase III of The Boulevards didn't get built considering that you got another crappy strip mall proposal in the place of once was a high rise residential tower proposal within easy walk of the metrolink station.
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
At least the pinnacle square retail faces the street and has parking in the back, giving it an more urban orientation (which is better than I can say for most commercial "revitalization" in St. Louis County. It looks like it is getting built on the phase 3 portion of the Boulevard, meaning Phase 2 of the Boulevard still has a chance if the demand comes back.
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
KS
Is there REAL demand for the retail?
No, not by shoppers, but yes, if you're talking developers with tax incentives.
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
KS
KS, I probably didn't do a good job clarifying my point. Any retail is good in my mind if there is demographics to support it. I think any strip mall developer or broker or agent wants to run to the word high end.
My point is Richmond Heights, like Brentwood, like Maplewood are landlocked inner suburbs with an excellent transit option given too them by the region in addition to great freeway access. However, with the current mindset of their leasdership will continue to lose population like some muni's did in the last census and in time lose wealth and in time will be trading retail stores. This proposal simply falls short for what the community should be demanding for itself for this particular property. Just look at the overview picture provided on the second page of the brochure, add a big chunk of surface parking when Ikea and Menards gets built and you have to ask yourself, how doe these communities sustain themselves and grow in terms of population/wealth. Simply adding another retail center doesn't cut it
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
KS
Is there REAL demand for the retail?
No, not by shoppers, but yes, if you're talking developers with tax incentives.
The Tenants we are working with a Pinnacle Square are not crappy and are actually pretty high end, new to St. Louis retailers. When completed, I think the project will be very well received. With that said, I understand and appreciate your desire for residential on this site, but there's simply not enough demand for it currently.
KS
Is there REAL demand for the retail?
For Ikea, I'm sure. Doubtful, regarding Menards. Too close to Lowe's and Home Depot with little to differentiate. People aren't going to shop around for a hammer like they do for cars at competing car dealerships.
^ for individual businesses and brands sure, but in terms of increased demand for "retail" as a whole, definitely not - meaning the region doesn't benefit, just those who really want IKEA stuff
the caveat with IKEA is that local retail $ is leaving the area when people travel to Chicago or Cincinnati to go there - this will keep that money in the region
It may not be the most desired IKEA but what about an IKEA on the scale of the one in Pittsburgh PA?
I have been there and its small size somewhat shocks you when you enter and traverse the store.
Dredger, I've got you. Makes sense and I agree with your point.
Guys, believe me, with the rents being charges at Pinnacle Square, you'll be seeing very unique, high end/ high volume retail. Phase 2 of the Boulevard will happen eventually which will make it appear as though Boulevard 1, 2, and Pinnacle Square our a single, contiguous retail environment.
Hopefully, all these additions to the trade area of BWood/MWood/Clayton/RHeights will create a larger demand for people to want to live/work in the area and therefore will result in dense (possibly going vertical), sustainable residential projects to increase population/wealth in the cities listed above.
So basically what you are saying is we are going to create this extravagant high end retail center, despite the fact high end retail isn't needed from an economics stand point. The development you are seeking is highly auto-centric which will make it even less desirable for pedestrians. However we are banking on this development to lead to walkable future developments?
^^ I wouldn't put the auto-centric thing on him, or ask him to lead the way to our walkable future. KBS is a broker, trying to lease space at the highest possible rents. His listings range from Union to O'Fallon to Downtown. From his posts on here seems like he shares an urban ideal (he's on here, how many other retail brokers are?), and will do what he can, where he can to move things in that direction. What's he supposed to do not take the listing?
That said, the market will decide if we need a extravagant high end retail center... the 1% need a place to shop too.
While Pinnacle Sq. may be disappointing with less density than originaaly planned, it is a relatively small property and is not outrageous like what is happening over on the other side of 40. The Hanley development is a complete disaster and it is a real shame that all those lives had to be disrupted for a freakin Menards. If an IKEA also came, it would have some attraction as a super-regional draw, but it is still a Big Box wasting the potential for a truly transformative project.
1) who said extravagant?
2) why is high end retail not needed (I'd love to hear your opinion then on what retail you'd like to see)? I'll call each one personally to gauge interest in St. Louis and Pinnacle Square)?
3) lets say, Pinnacle Square is built with no parking, explain to me how people will get to the property and shop there...the development is blocked by Interstates on two sides, a major roadway on the third side, and retail on the fourth.
4) I'd love more density, more space to lease. But can St. Louis support it?
^ while not retail, I think that the ability of the Noah's Ark redevelopment to attract the new Art Institute of Saint Louis is a particulalry troubling example of the continuing danger posed from our Western Front.
There's far too much retail in that area to begin with. What an awful experience it is to get in and out of the Hanley/170/Brentwood/64 area on weekends.
Is this for real or not? Why is Ikea on the front page of the site?
I'm pretty psyched if it is true, and I'm assuming it is because Ikea is about the only store I can think of that fits the bill being discussed. I can't think of a better location for an Ikea, as the RH/MW/CL/BR zone is clearly the metro's retail mecca. To cite Alex Ihnen's comment, those homes in Hadley are gone no matter what. And what Ikea brings is a destination store that will be the only one of its kind within at least 5 million inhabitants' range. That is huge because it draws people from all over, and those people will spend more money in the already existing businesses in that area.
Plus, Ikea's aesthetic sensibility (their products are hit or miss in terms of quality) is something the metro could use to nudge it out of the pre-modern ages and into at least the late 20th c. Face it, outside of TFA, Centro, and a couple other specialty shops, there aren't many choices if you want cool furniture. And I can't help but think this won't have a huge spillover effect on the region's interior design / interior architecture industry as well. I'd like to think it can help open peoples' eyes to the future and maybe just maybe help to reduce the region's lusty obsession with antiquated brick rowhouses and the historical districts they often result in.
Re the access problem, why aren't there better feeder roads? Like Manchester on the south should be a freeway, as should Lindbergh. Half the reason traffic sucks so hard is there are no real alternatives but 64/40 and 170, which both basically share the same space there.
1. High which I translated into end extravagant.
2. St Louis metropolitan area population growth was 4% last decade. However the amount of retail growth increased over 200% from a square footage perspective, mainly because if TIF’s. Bottom line is there are a lot more places to shop at and not enough people to support the retail. We are completely maxed out on big box retail developments in my opinion. I would like to see a switch to smaller type retail stores that serve neighborhoods or TOD type retail instead of the destination big box retail that is eating the region alive. STL is becoming more and more big box and less and less of a place to live. I have no need for a Menards or a Swedish furniture store.
3. I am not saying there shouldn’t be parking. I am more against the surface parking. Build a garage behind the development or close by without surface parking in the front. Make it attractive from the major street and hide the ugliness behind it.
4. We need to focus on growing our population and then the retail growth will follow.
