Don't forget about rooftops. Some buildings have made their rooftops private to the penthouse residents. While this does add a great deal of value to those owners, it does not offer much in the lines of the other residents. Make sure your buildings have a "source of fresh air" to all owners.
The curved walls in the units are designed around the central hallways and entrances of the condos. Some units feature a curved hallway to enter your main living area. It's a great place to hang art work or other pictures. In other words, they were kept out of areas in which you would be placing your main pieces of furniture. Also, the condo fee is not affected by the martini bar or bowling alley. In fact, those businesses will also be charged a condo fee similar to the residents in order for their portion of building upkeep. The martini bar and bowling alley will be open to the public. So the building should be a popular area to city residents.
I like the idea of the bowling alley and Martini bar. Downtown doesn't have anything like bowling. Just look how successful the Pin Up Bowl and the lanes in the Moolah have been in conjunction with a martini bar. Another thing downtown to bring outsiders in.
On the condo fees, I know from the loft tour, the Meridian is $.10/sf per month, so a 1500sf condo would be $150/month. Also for the Bankers lofts the condo fees are gonna be about $2/ft/year and will include fitness center, building looped hot water lines, gas for cooking, etc., T1 internet, building maint. The only thing paid for is electricity like the other person mentioned.
If anyone is interested in reserving a condo at the Lucas Lofts, we are fillling up fast! We require $1,000 at the time of reservation and then an additional $5,000 sometime in August when our display is complete. Feel free to call my office at 336-1925 for reservations.
I can also e-mail floor plans and pricing sheets to anyone interested.
I can also e-mail floor plans and pricing sheets to anyone interested.
I wouldn't be interested in buying a loft in any building that was so obviously lacking its cornice. It looks unoriginal and cheap.
- 1,649
apickett wrote:once the website for the project is up and running, I will update you guys, so you can see more pics of the floorplans, interiors and even an exterior rendering (I believe within the next couple of weeks).
Adam, is this the website? http://www.lucaslofts.com
It looks to be online now. Thanks!
I hope they do something with the cornice as well. I ticks me off to see so many buildings downtown with missing cornices. Why would anyone have thought that looked good in the first place. From what I understand, it was a 50's to 70's thing.
The website is indeed www.lucaslofts.com (but, I believe that redirects you to http://www.chastanpropertiesllc.com).
I'll keep you guys updated as more renderings are developed.
Adam
I'll keep you guys updated as more renderings are developed.
Adam
- 1,282
More condos will nest on Washington Avenue
By Charlene Prost
Of the Post-Dispatch
06/14/2005
What's coming next to Washington Avenue is more condos - and likely a bowling alley operated by developer Joe Edwards.
The bowling alley, similar to Edwards' Pin-Up Bowl in the Delmar Loop, would be on the ground floor of an empty, seven-story building at 1123 Washington Avenue. Developer Patrick Stanley plans to renovate the structure with 103 condos and call it the Lucas Lofts.
As for the bowling alley, Edwards said: "I'm very interested, and we are negotiating. I think it is an exciting time on Washington Avenue." He has been a driving force behind development of the Loop area along Delmar Boulevard in University City and St. Louis.
"It would be a boutique bowling alley, a small, one-of-a-kind place," he said. "It would be somewhat like the Pin-Up Bowl but with a different theme and a different look. There would be food there and excellent martinis."
Edwards said the bowling alley on Washington would be in addition to another he plans to open in the Bottle District, planned just north of the Edward Jones Dome.
Stanley, owner of Chastan Properties LLC, intends to start construction next month on one of the last large, undeveloped buildings left on Washington downtown. He expects the $23 million Lucas Lofts to be finished in about a year, with the condos opening next May and the bowling alley after that.
The condos will range from $114,900 for a 770-square-foot unit to $490,000 for a two-level unit with 2,600 square feet. All will have ceiling heights of 12 to 15 feet and other amenities designed by Rosemann & Associates to preserve some of the building's original character.
Designed by Shepley, Rutan & Coolidge, it was built in 1896. The Levis-Zukowski Mercantile Co. made hats there in the early years.
Stanley said the most recent tenant was a greeting card company that made and distributed cards there until about six years ago. Stanley bought the building for $4.8 million earlier this year.
"It's a beautiful, beautiful building, and the first day I saw it I knew it was right for this," he said. "It has tons of windows, wood-beam ceilings that we will sandblast and an old stairwell that we will retrofit to get from one floor to another in the two-level condos."
Stanley also plans a martini and cigar bar, called the W.A. (for Washington Avenue) Sky Bar, on the top floor; a rooftop swimming pool and 106 parking spaces in the basement and part of the ground-floor level, next to the bowling alley.
To help soundproof the condos, he said, new concrete floors will be poured on all the residential levels. Stanley said he also has an acoustical engineer at work on a plan "to make sure the sound from the bowling alley goes out the back and side of the building, and not up."
Stanley said Edwards got involved "after I called him, out of the blue," and proposed the idea of a bowling alley for downtown.
National City Bank is financing the Lucas Lofts project; Stanley also is using state historic and brownfield tax credits.
So far, he has done two other smaller projects since he formed his company more than four years ago. He renovated a five-story, former moving company building in the Benton Park neighborhood for 13 condos, all now sold. More recently, he renovated a four-story building at 1521 Washington Avenue with the Europe nightclub on the first floor and three custom lofts scheduled to be built on the upper floors.
At Lucas Lofts, he said, half the condos are already sold.
"Primarily, we're selling to young professionals, 22 to 35 years old. We have a bunch of 22- to 23-year-olds," he said, "plus 55- to 65-year-olds, empty-nesters."
Barbara Geisman, deputy mayor for development, said city officials are happy to see large vacant buildings along Washington filling up. She also welcomes the bowling alley as another attraction for downtown.
"Joe (Edwards) seems to be very excited about it," she said, "and so are we."
Reporter Charlene Prost
E-mail: cprost@post-dispatch.com
Phone: 314-340-8140
By Charlene Prost
Of the Post-Dispatch
06/14/2005
What's coming next to Washington Avenue is more condos - and likely a bowling alley operated by developer Joe Edwards.
The bowling alley, similar to Edwards' Pin-Up Bowl in the Delmar Loop, would be on the ground floor of an empty, seven-story building at 1123 Washington Avenue. Developer Patrick Stanley plans to renovate the structure with 103 condos and call it the Lucas Lofts.
As for the bowling alley, Edwards said: "I'm very interested, and we are negotiating. I think it is an exciting time on Washington Avenue." He has been a driving force behind development of the Loop area along Delmar Boulevard in University City and St. Louis.
"It would be a boutique bowling alley, a small, one-of-a-kind place," he said. "It would be somewhat like the Pin-Up Bowl but with a different theme and a different look. There would be food there and excellent martinis."
Edwards said the bowling alley on Washington would be in addition to another he plans to open in the Bottle District, planned just north of the Edward Jones Dome.
Stanley, owner of Chastan Properties LLC, intends to start construction next month on one of the last large, undeveloped buildings left on Washington downtown. He expects the $23 million Lucas Lofts to be finished in about a year, with the condos opening next May and the bowling alley after that.
The condos will range from $114,900 for a 770-square-foot unit to $490,000 for a two-level unit with 2,600 square feet. All will have ceiling heights of 12 to 15 feet and other amenities designed by Rosemann & Associates to preserve some of the building's original character.
Designed by Shepley, Rutan & Coolidge, it was built in 1896. The Levis-Zukowski Mercantile Co. made hats there in the early years.
Stanley said the most recent tenant was a greeting card company that made and distributed cards there until about six years ago. Stanley bought the building for $4.8 million earlier this year.
"It's a beautiful, beautiful building, and the first day I saw it I knew it was right for this," he said. "It has tons of windows, wood-beam ceilings that we will sandblast and an old stairwell that we will retrofit to get from one floor to another in the two-level condos."
Stanley also plans a martini and cigar bar, called the W.A. (for Washington Avenue) Sky Bar, on the top floor; a rooftop swimming pool and 106 parking spaces in the basement and part of the ground-floor level, next to the bowling alley.
To help soundproof the condos, he said, new concrete floors will be poured on all the residential levels. Stanley said he also has an acoustical engineer at work on a plan "to make sure the sound from the bowling alley goes out the back and side of the building, and not up."
Stanley said Edwards got involved "after I called him, out of the blue," and proposed the idea of a bowling alley for downtown.
National City Bank is financing the Lucas Lofts project; Stanley also is using state historic and brownfield tax credits.
So far, he has done two other smaller projects since he formed his company more than four years ago. He renovated a five-story, former moving company building in the Benton Park neighborhood for 13 condos, all now sold. More recently, he renovated a four-story building at 1521 Washington Avenue with the Europe nightclub on the first floor and three custom lofts scheduled to be built on the upper floors.
At Lucas Lofts, he said, half the condos are already sold.
"Primarily, we're selling to young professionals, 22 to 35 years old. We have a bunch of 22- to 23-year-olds," he said, "plus 55- to 65-year-olds, empty-nesters."
Barbara Geisman, deputy mayor for development, said city officials are happy to see large vacant buildings along Washington filling up. She also welcomes the bowling alley as another attraction for downtown.
"Joe (Edwards) seems to be very excited about it," she said, "and so are we."
Reporter Charlene Prost
E-mail: cprost@post-dispatch.com
Phone: 314-340-8140
my favorite line in the entire article:
Stanley, owner of Chastan Properties LLC, intends to start construction next month on one of the last large, undeveloped buildings left on Washington downtown. He expects the $23 million Lucas Lofts to be finished in about a year, with the condos opening next May and the bowling alley after that.
Hello forum.
Just wanted to say that I have a reservation for a 1 bdrm loft at the Lucas Loft building.
Unfortunately, I close on a condo in the CWE next week and I love it but the loft blows it away. Here are some comparisons:
Condo:
-550 sq ft
-Harwood floors, carpet in bdrm, porcelain tile in bathroom
-Granite countertops, stainless steel appliances, designer lighting, shaker maple cabinets, digital thermostat, Splendide washer/dryer
-$129.80 mo HOA fees
-tax abatement through 2009 (50% break)
-no reserved parking
-7th floor in 8 story building (88 yr old building)
-right behind Forest Park, around corner from Congress and Senate high-rises
Loft:
-691 sq ft
-rooftop swimming pool, martini/cigar bar, 1st floor bowling alley
-garage parking
-est $75 mo HOA fees
-10 year tax abatement (est $9-20 mo taxes)
-13-15 ft high ceilings, etc, etc
Here's the kicker...both are the same price! Of course when I move downtown I'll lose the neighborhood feel of the condo in the CWE but the loft comes with A LOT more amenities and will actually be cheaper with the lower HOA fees and property taxes.
The building needs a lot of work but I'm excited. It's also right next to Mosaic, that trendy tapas bar off Washington Ave.
I looked at several lofts and the building amenities sold me on it. The Meridian will have VERY nice bathrooms and kitchens but I wasn't told much about building amenities.
I think there are about 5-10 buildings that will be finished between April-July of next year. On top of the added residential spaces there are commercial spaces currently under construction on street level in many of the buildings AND the Bottle District (next to EDJ Dome) should have its first phase completed around the same time next year.
Very exciting times for downtown STL.
Just wanted to say that I have a reservation for a 1 bdrm loft at the Lucas Loft building.
Unfortunately, I close on a condo in the CWE next week and I love it but the loft blows it away. Here are some comparisons:
Condo:
-550 sq ft
-Harwood floors, carpet in bdrm, porcelain tile in bathroom
-Granite countertops, stainless steel appliances, designer lighting, shaker maple cabinets, digital thermostat, Splendide washer/dryer
-$129.80 mo HOA fees
-tax abatement through 2009 (50% break)
-no reserved parking
-7th floor in 8 story building (88 yr old building)
-right behind Forest Park, around corner from Congress and Senate high-rises
Loft:
-691 sq ft
-rooftop swimming pool, martini/cigar bar, 1st floor bowling alley
-garage parking
-est $75 mo HOA fees
-10 year tax abatement (est $9-20 mo taxes)
-13-15 ft high ceilings, etc, etc
Here's the kicker...both are the same price! Of course when I move downtown I'll lose the neighborhood feel of the condo in the CWE but the loft comes with A LOT more amenities and will actually be cheaper with the lower HOA fees and property taxes.
The building needs a lot of work but I'm excited. It's also right next to Mosaic, that trendy tapas bar off Washington Ave.
I looked at several lofts and the building amenities sold me on it. The Meridian will have VERY nice bathrooms and kitchens but I wasn't told much about building amenities.
I think there are about 5-10 buildings that will be finished between April-July of next year. On top of the added residential spaces there are commercial spaces currently under construction on street level in many of the buildings AND the Bottle District (next to EDJ Dome) should have its first phase completed around the same time next year.
Very exciting times for downtown STL.
UAB Alum,
I'm wondering what your experience has been with the CWE condo market with all of the new downtown options.
Have prices cooled off a bit in CWE due to more downtown options?
I'm wondering what your experience has been with the CWE condo market with all of the new downtown options.
Have prices cooled off a bit in CWE due to more downtown options?
To be honest, I'm not sure. I do know that I'm not getting as much "bang for my buck" in the CWE as I will in the loft district when you consider size, amenities, property taxes, and HOA but they are two different areas. CWE can command the prices that you see now because it is an established residential area. You have the old mansions that sit on the back of Forest Park, then Chase Park Plaza and developments that are taking place on Lindell. Forest Park being right there is a huge plus and it's considered a "safer" area because of the neighborhood versus downtown.
The developer that converted the condo I'm buying is in the process of converting 2-4 buildings next to mine but they are only 3 stories. Then a few blocks down the street they just finished some conversions off of Waterman...2-3 buildings I believe.
It's funny...when I first moved to STL two years ago I lived with family in a house out in the suburbs. Then I moved into an apartment in Clayton. Now I'm moving into a condo in the CWE and next year will be moving into a loft downtown. I guess I will have covered all my bases as far as residential options go.
The loft district is cool now but it's going to be amazing next year when there are 100's more residents and businesses. I can't wait.
The developer that converted the condo I'm buying is in the process of converting 2-4 buildings next to mine but they are only 3 stories. Then a few blocks down the street they just finished some conversions off of Waterman...2-3 buildings I believe.
It's funny...when I first moved to STL two years ago I lived with family in a house out in the suburbs. Then I moved into an apartment in Clayton. Now I'm moving into a condo in the CWE and next year will be moving into a loft downtown. I guess I will have covered all my bases as far as residential options go.
The loft district is cool now but it's going to be amazing next year when there are 100's more residents and businesses. I can't wait.
- 10K
I don't think the CWE condo market is cooling off at all. I put my condo on the market a few weeks ago and had it under contract in two days and got the price I was asking for.
I don't want to get this thread off topic but how much did your condo appreciate in the past year? If you don't mind telling us.
- 10K
I'm not exactly sure what the appreciation has been over the past year, but I do know that my condo's value had appreciated steadily since I bought it. The Randolph Condominiums and now the Metropolis West End Condos really helped.
I paid $84,000 for it in 2001 and am selling it for $149,900. It's been a great investment!
I paid $84,000 for it in 2001 and am selling it for $149,900. It's been a great investment!
WOW.
Congrats.
I move into one of the Metropolis condos next week.
Congrats.
I move into one of the Metropolis condos next week.
- 33
Hey all - I'm stl born and raised, but have been away for six years for college in boston and work in dc. Anyways im moving back and looking to do my part in the revitilazation of downtown. Very exciting to see all of this stuff going on. Im looking to get a loft and i was intrigued with what lucas lofts has going on. I was wondering what everyone thinks of it - rooftop pool/martini bar and bowling alley coming on the first floor.
Do you think this will add or detract to resale value down the line - the bowling alley being there. i cant quite figure it out.
The meridian looks nice too, but there arent many general amenities. Im looking to check out the bankers lofts too but they will probably be sold otu by the time i can get a deposit down....
Thanks all
Gabe
Do you think this will add or detract to resale value down the line - the bowling alley being there. i cant quite figure it out.
The meridian looks nice too, but there arent many general amenities. Im looking to check out the bankers lofts too but they will probably be sold otu by the time i can get a deposit down....
Thanks all
Gabe
dpsnodgr wrote:If anyone is interested in reserving a condo at the Lucas Lofts, we are fillling up fast! We require $1,000 at the time of reservation and then an additional $5,000 sometime in August when our display is complete. Feel free to call my office at 336-1925 for reservations.
I can also e-mail floor plans and pricing sheets to anyone interested.
when i called the realtor today she told me it was 1000 up front, and 2500 after seeing the display.... care to clear this up?
I somehow have a feeling that Lucas Lofts might get a number of their units back when it comes time to go to contract or some might be flipped by speculators. Their pricing is pretty high for the square footage, and the money required to reserve a unit is much lower than other developments. This just popped into my head, but then again I could be dead wrong. I hope so, it would only confirm yet again the strong demand and increase in property values downtown.
I currently have a reservation for the Lucas Lofts and put down the initial $1,000 and will have to put another $2,500 down when the display is built and I enter into a contract. There was an initial figure of $5,000 but they dropped that.
The pricing is fine to me. You have to consider everything you are getting with living there...garage parking, rooftop pool, martini bar, bowling alley.
I'm paying $230 sq ft in Central West End and I don't get crap other than a nice condo.
An artists rendering of the rooftop pool was released at about 5pm. I will see if I can upload it to this post. I received it via email.
Edit: I need someone to host the picture
The pricing is fine to me. You have to consider everything you are getting with living there...garage parking, rooftop pool, martini bar, bowling alley.
I'm paying $230 sq ft in Central West End and I don't get crap other than a nice condo.
An artists rendering of the rooftop pool was released at about 5pm. I will see if I can upload it to this post. I received it via email.
Edit: I need someone to host the picture
- 1,649
St.Louis UAB alumni wrote:An artists rendering of the rooftop pool was released at about 5pm. I will see if I can upload it to this post.
Here is the rendering...
