They bought it a loooooooonng time ago.
American Heart Assoc. sold it to them and then they moved to Creve Couer.
Your source sucks.
American Heart Assoc. sold it to them and then they moved to Creve Couer.
Your source sucks.
- 11K
^^ They're currently using the lot for parking for the workers on the Park East Lofts. The last time I went by there they had a sign hanging up to that effect. They've also done some preliminary work - planning demo of current building, testing of soil and ground for excavation etc. etc. etc. Once they say "go" it will move quickly.
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I have a feeling that the CWE is going to continue to densify at a brisk pace. I am SO HAPPY that this tower appears to be moving forward. It will add so much critical mass to a key corner of the neighborhood. More people, more action. Love it!
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Land sale threatens OPUS’ plans for high-rise at Lindell and Euclid
By Emily Umbright
Posted Wednesday, May 2, 2007
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The future of OPUS’ $92 million high-rise slated for construction at the northeast corner of Lindell Boulevard and Euclid Avenue has been uncertain since residents filed a lawsuit last summer to halt the project.
But word that the property was recently sold to Heartland Bank has raised even more questions. Prior to the bank’s purchase, the land, which houses the American Heart Association building, was under contract with OPUS.
While representatives of OPUS did not return calls by press time, 28th Ward Alderman Lyda Krewson said the recent development was surprising and that the fate of the 26-story high-rise remains unclear.
Don Williams, president and CEO of Heartland Bank, said the bank is exploring different options for its plans of opening a branch that could support a larger building.
“As long as there’s a bank on the first floor, we’re open to possibilities,” he said. The company is anxious to get started on the project and has been in talks with various developers, Williams said.
Read More
By Emily Umbright
Posted Wednesday, May 2, 2007
E-mail this page Printer-friendly page
The future of OPUS’ $92 million high-rise slated for construction at the northeast corner of Lindell Boulevard and Euclid Avenue has been uncertain since residents filed a lawsuit last summer to halt the project.
But word that the property was recently sold to Heartland Bank has raised even more questions. Prior to the bank’s purchase, the land, which houses the American Heart Association building, was under contract with OPUS.
While representatives of OPUS did not return calls by press time, 28th Ward Alderman Lyda Krewson said the recent development was surprising and that the fate of the 26-story high-rise remains unclear.
Don Williams, president and CEO of Heartland Bank, said the bank is exploring different options for its plans of opening a branch that could support a larger building.
“As long as there’s a bank on the first floor, we’re open to possibilities,” he said. The company is anxious to get started on the project and has been in talks with various developers, Williams said.
Read More
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What!!!!!!
A bizarre turn of events, to say the least...
A bizarre turn of events, to say the least...
- 11K
I'm not sure why OPUS wouldn't want to develop this property, but its sale may mean it will be developed sooner. And I can't imagine that a bank would want to build a single story (or two) at that location. As long as it doesn't end up like the US Bank east a few blocks . . .
Opus indicated that it was not going to compromise the height again. So this is pure speculation on my part, but it sounds like Opus was apprehensive about purchasing the property because they didn’t know which way the NIMBY lawsuit would go, and the AHA had no choice but to unload the property to the highest bidder, which likely was Heartland Bank.
Sounds like some kind of tower is still possible at that site though. If not, how unfortunate. What would Opus do if not? Consider other lots?
Consider downtown? Sure would be nice AND they could build tall.
Sounds like some kind of tower is still possible at that site though. If not, how unfortunate. What would Opus do if not? Consider other lots?
Consider downtown? Sure would be nice AND they could build tall.
- 10K
Grover wrote:I'm not sure why OPUS wouldn't want to develop this property, but its sale may mean it will be developed sooner. And I can't imagine that a bank would want to build a single story (or two) at that location. As long as it doesn't end up like the US Bank east a few blocks . . .
The existing building might make a nice hq for Heartland though - not sure how much space they currently have.
- 11K
^ Either way we're about to find out how much demand there really is for CWE land. If they use the existing building I'd be surprised. I don't know that they're in the developing business though. Where's Ward17 when you need him?
The existing building might make a nice hq for Heartland though
Heartland has been on a spending spree. They recently purchased a local subprime lender, which the new company (Heartland Wholesale Funding)went live recently.
Hmmm.
Grover wrote:Where's Ward17 when you need him?
Only problem is that its in Ward 28.
I hope this still happens.
- 11K
^ The broken legs or the buildings? 
I've been told that the bank is interested in working with developers . . .
I've been told that the bank is interested in working with developers . . .- 10K
There's an article about this project in the Business Journal today.
Heartland wants to build a bank branch on the site - what a total waste that would be.
Opus is trying to partner with Heartland to build a high-rise, as originally planned.
Heartland wants to build a bank branch on the site - what a total waste that would be.
Opus is trying to partner with Heartland to build a high-rise, as originally planned.
A bank branch? The alley already has too many lanes to accomodate the the drive-up window of the bank next door. If they really want a bank branch there, let them take space in a new high-rise. Or at least a large building that completes the streetscape.
I'm hopeful they are working out the situation. Heartland acknowledged that it was open to suggestions from developers as long as their bank branch was a part of the project. I don't see this being a problem unless of course financial issues/agreements become a deal breaker.
Opus' Park East Tower has a Fifth Third bank branch. The CWE is hot so banks want in.
Here's a snippet from the St. Louis Business Journal,
Bank's property purchase an obstacle for high-rise
St. Louis Business Journal - June 8, 2007
by Lisa R. Brown
Opus Northwest's plans for a $92 million high-rise in the Central West End are still moving forward, despite the sale of the property to Heartland Bank.
Minneapolis-based Opus Northwest LLC announced plans for a high-rise mixed-use project at the northeast corner of Euclid and Lindell in 2005. The city of St. Louis approved $7.5 million in tax increment financing for Opus' development. The site is the former St. Louis office of the American Heart Association, which sold the 18,970-square-foot building at 4643 Lindell Blvd. on .94 acres in late 2005 for $3.4 million to L3 Ventures LLC.
Source
Opus' Park East Tower has a Fifth Third bank branch. The CWE is hot so banks want in.
Here's a snippet from the St. Louis Business Journal,
Bank's property purchase an obstacle for high-rise
St. Louis Business Journal - June 8, 2007
by Lisa R. Brown
Opus Northwest's plans for a $92 million high-rise in the Central West End are still moving forward, despite the sale of the property to Heartland Bank.
Minneapolis-based Opus Northwest LLC announced plans for a high-rise mixed-use project at the northeast corner of Euclid and Lindell in 2005. The city of St. Louis approved $7.5 million in tax increment financing for Opus' development. The site is the former St. Louis office of the American Heart Association, which sold the 18,970-square-foot building at 4643 Lindell Blvd. on .94 acres in late 2005 for $3.4 million to L3 Ventures LLC.
Source
- 11K
As with just about any other deal - if there's money behind it, it will be built.
I'm glad Opus is still pushing ahead. But maybe they should think about Kingshighway/Lindell instead. Might be simpler to work out a deal. Oh, wait, I forgot that Kopler owns that corner. Never mind.
I'm sure he won't sit on it for 25 years like he did with Maryland Plaza.
- 11K
At least the younger Koplar didn't sit on it for 25 years - unless it was given to him as a 2nd birthday party gift!