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PostJan 03, 2008#51

St. Louisans, I think, need to start supporting and believing in sound visions so something can be completed for once.


I do agree that often St. Lousians can be overly negative of innovative/ creative projects. This negativity goes hand in hand with the regions mistrust of project delays and budget overruns. The region (and state) get what it pays for. If we want a world class INSERT PROJECT HERE (highway 40, airport, rail system, downtown, aquarium) then folks must be willing to pay for it, be it with time, talent, or cold hard cash. Few are in St. Louis willing to pony up any of the above, other than criticism.





That said, critiquing visions, as has been done by many, is not a bad trait. The key phrase above is "sound visions." I would argue that much of the criticism leveled by members of this forum occurs not because people don't think St. Louis is capable of bold and visionary action, but because people don't think the visions laid out by civic leaders and the public sector are in the best interest of the region.



The Pinnacle plan is not perfect and the City should not settle and invite development just for development's sake. Far to often the region's leaders are willing to accept any project in the name of showing progress. Don't think this willingness by leaders to accept anything doesn't play an important roll in the public's negative perception of the visions pushed by those in charge.



While I find it highly frustrating that many doubt downtown's renaissance, I can't really blame those of older generations for their doubt. They have seen vision (The Arch) after vision (two Busch Stadiums), plan (the convention center) after plan (the convention center hotel), and development (the Gateway Mall) after development (St. Louis Centre) paraded out as the latest greatest plan to revive downtown St. Louis. Maybe people wouldn't be so negative of the visions put out there if St. Louis' leaders had a better track record of making good visionary decisions. St. Louis can be a world-class City, but to become so the region must have both fewer doubting Thomases AND leaders more willing to embrace bold and revolutionary plans that understand progress is more than a silver bullet engraved with a single-project's name.



As for the Phase II model, Pinnacle and its model should be treated as a realistic development by the City, just like any other. If it becomes clear Pinnacle is just playing games, then it is the City's job to find out as the development process moves forward. But until that time, City leaders should give it a fair shot.

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PostJan 03, 2008#52

Arch City wrote:Umm. Come jlblues, don't be silly. The city has negotiated and landed one of the best new casinos in the Midwest. Plus, $50-million in guaranteed residential. Furthermore, if a business buys land or property, it is perfectly within its right to do what the hell it wants to do within the context of exisiting laws and approvals.
Please, name one single concession the city won from Pinnacle through this supposed 'negotiation'. I can give you a half-dozen reasons why that $50 million residential commitment is meaningless (just what happens if they don't build anything anyway)??? And, how is getting them to build the casino a negotiation win? Umm, here Pinnacle, do what you wanted to do in the first place; in exchange for your gambling license, we'll let you build a nice casino, hell we'll even let you build it 1000 feet from the river that it is supposed to float in... :lol: :lol: :lol: As far as your last sentence, AC, I wonder if you'll feel that way when Mr. McKee announces his plans...



Below is what the Landing looked like pre-Lumiere. With a few of the gaps east of 1st Street filled in, the street grid restored, and a mid-sized, mixed-use project north of the Embassy Suites, this would have been a great extension of Laclede's Landing that could, if done properly, have turned into something much like Bourbon Street. I think this would have led to development of the area north of Carr, and would have complemented the riverfront trail rather well.



For those decrying the lack of development north of the MLK bridge up to this point, what exactly do you think could have happened differently? You seem to forget that the only proposals that the city has ever seriously entertained for this land for the last two decades are those for casino-related development. There was one ~$100 million (very roughly) proposal for a residential development east of 1st Street from Lincoln Properties, which the city dragged it's feet on - and didn't offer much in incentives - for so long that the project was no longer viable. Noone else would have developed anything here because the city never could come up with a consistent plan for the area and there has been a never-ending series of casino and parking garage proposals. How many times were casino developer proposals chosen, only to fall apart? Why would you risk millions developing a project when the city can't even tell you who your future neighbors might be?



And, you also may have forgotten that Casino Magic owned, and refused to sell at a reasonable price, all of the land between I-70 and 2nd Street for, what, a decade? I have no doubt that this area would have been developed into a mixed-use extension of Laclede's Landing a long time ago, if it weren't for all of these hurdles. FWIW, I think this uncertainty has been the biggest factor in the decline/stagnation of Laclede's Landing south of the MLK bridge for the last two decades, as well.



AC, I have no idea why you keep getting off on your NIMBY-negativism tangent, but it really doesn't have anything to do with this discussion. I don't believe you are that obtuse, so I can only assume you are just a really big fan of this casino, or have some personal interest in Pinnacle's success.


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PostJan 03, 2008#53

jlblues, I find your last comments interesting. First, you bring up Lincoln Properties's pipsqueak $100-million residential plan (I believe it was more like $50-million) when there's been a $507-million project (more property tax revenue, by the way) built complete with a Four Seasons Hotel (only the second in the Midwest), hundreds of new jobs, a flashy high-tech addition to the skyline and positive exposure for St. Louis' casino industry.



Then there's a proposal on the table for an estimated $500-million residential/commercial project by the same company, which will be an investment quadruple the size of Lincoln Properties' proposal. Plus, Pinnacle is planning more units. I think Lincoln proposed 300 units. Pinnacle is proposing 375 units. And you think the city screwed up?



Not to taunt, but come on. Even if Pinnacle invests just $50-million as they agreed for the new residential phase, Pinnacle would still have Lincoln Properties' proposal beat four and a half times over in terms of dollar investment.



Last, you seem to complain that the city didn't offer Lincoln incentives, but earlier seemed to be concerned that Pinnacle would ask for incentives for Phase II. What am I missing?



Then you want Bourbon Street in St. Louis? Why would St. Louis want to emulate Bourbon Street? St. Louis could NEVER match it if it wanted - pre or post Katrina. I thought we were aiming for something bold and revolutionary?



Come on, jlblues.


AC, I have no idea why you keep getting off on your NIMBY-negativism tangent, but it really doesn't have anything to do with this discussion. I don't believe you are that obtuse, so I can only assume you are just a really big fan of this casino, or have some personal interest in Pinnacle's success.


LOL!! You are kidding, I hope.

PostJan 03, 2008#54

JMedwick wrote:That said, critiquing visions, as has been done by many, is not a bad trait. The key phrase above is "sound visions." I would argue that much of the criticism leveled by members of this forum occurs not because people don't think St. Louis is capable of bold and visionary action, but because people don't think the visions laid out by civic leaders and the public sector are in the best interest of the region.


When leaving it to a lot of people in metro St. Louis, no plan is ever in the best interest of the city or region nor is it "the best plan". MetroLink's first line was not in the best interest of the region. No one would ride it. It would take crime out to suburban communities. The I-64 shut down was not in the best interest of the region, yet the damn thing was crumbling to pieces. The third runway at Lambert, which was planned when Lambert was major airline hub, was not needed. But it is even if in the future. Newcomers like Houston and Atlanta have six runways. Even Kansas City’s major airport has three. Yet, it seems some St. Louisans would be content with airport capabilities that mirror Little Rock's.



Point is, as I said previously, while some critiquing and skepticism is healthy and okay, constant complaining, doubting and "show-me talking" like clock work is a bad trait. Constant complaining, second-guessing and nagging becomes cancerous thus a barrier for potential developers and investors that have very good intentions and plans. Hell, why would they even bother? Let's just throw up what we agreed to (a $50-million residential development) and call it a day. I can hear now, "See I told you so."



Personally. I don't think these are people that get out of St. Louis much. I could be wrong. They should go see other cities. Be inspired. Come back with confidence as citizens and inspire others to cultivate a fire to compete against other regions because St. Louis deserves it. Once again, I submit that some skepticism and critiquing is appropriate, but sometimes it is exasperating when done excessively and like clock work. It doesn't help matters. People are watching and listening.


JMedwick wrote:The Pinnacle plan is not perfect and the City should not settle and invite development just for development's sake. Far to often the region's leaders are willing to accept any project in the name of showing progress. Don't think this willingness by leaders to accept anything doesn't play an important roll in the public's negative perception of the visions pushed by those in charge.


Come on, the city isn't just settling. The land was dismal, industrial (damn near a brownfield) and a happenstance tailgating lot with rocks. Come on. What's there now and what is planned would be a 2000% improvement. Even if they built a brick wall around the perimeter and people could only access the area by the new underground moving walkways, it would be better than what was there for umpteen years embarrassing the city. And once again, what plan anywhere is perfect? I submit there are none. People, including myself, will always want to add our two cents.


JMedwick wrote:While I find it highly frustrating that many doubt downtown's renaissance, I can't really blame those of older generations for their doubt. They have seen vision (The Arch) after vision (two Busch Stadiums), plan (the convention center) after plan (the convention center hotel), and development (the Gateway Mall) after development (St. Louis Centre) paraded out as the latest greatest plan to revive downtown St. Louis.


Well I say to them give it a rest already. Keep in mind that I am of the older generation.



However, depending on one's perspective, many of those projects did help revive downtown St. Louis. Without them, downtown would be definitely be in worse shape. They helped to keep the lights from being completely turned off downtown.



The Busch stadiums certainly did help and are helping. The Gateway Arch is one of the most visited monuments in the world. The convention center hotel was not billed as a plan to revive downtown. It was billed as a needed asset to bolster conventions downtown, and it has. The convention center and hotel has brought in more conventions. Maybe not as initially projected, but it has been a benefit for the region and downtown. It is definitely an anchor on Washington Ave.



And I don't care what anyone says...St. Louis Centre was an awesome mall while it lasted. But every dog has its day. It's time to let bygones be bygones.


JMedwick wrote:St. Louis can be a world-class City, but to become so the region must have both fewer doubting Thomases AND leaders more willing to embrace bold and revolutionary plans that understand progress is more than a silver bullet engraved with a single-project's name.


LOL!! Well, the second draft of the Bottle District was bold and revolutionary designed by Daniel Libeskind. But what happened? The bugaboos came out before the drawings were dry.



And I don't recall any civic leader ever suggesting that a single project would be a silver or magic bullet for revitalizing downtown. I've always heard that certain single projects would help with the revitalization of downtown. There is a difference in context.

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PostJan 03, 2008#55

Atlantic Station in Atlanta started off as a vision. Navy Pier in Chicago started off as a vision. The Kemah Boardwalk on Galveston Bay near Houston started off as a vision. The Power and Light District in Kansas City started off as a vision. The Empire State Building started off as a vision. Hell, that ugly ass building planned for downtown Louisville started off as a vision. And guess what? These visions are either under construction or completed.


Yes, I have lived in other cities and I currently live in Chicago. I can tell you that even in the most successful cities, for every Navy Pier there is a failed Chicago World Trade Center (complete with a rendering) and countless other skyscrapers that promote themselves with a rendering and never see the light of day. All the positivism in the world couldn't have saved them. It also doesn't mean that no one wanted the project to be built. It simply means that a rendering is an early stage of development and not that they are necessarily committed to building. The way I see it, St Louisans are so unused to development that they either take every rendering for an actual commitment or they doubt everything. Both are pretty dense. I'm not saying I doubt that it will happen. I'd give it a 50/50 chance because I have no reason to believe one way or the other at this point.



St Louisans may be prone to the things you describe, but I think that the members on this forum deserve a little more respect. Me or Jlblues wouldn't be on this forum if we didn't have hope for things like this to really work out. You don't have to call me a NIMBY or a typical St Louisan every time I'm not frothing at the mouth over a broad rendering.

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PostJan 03, 2008#56

Arch City wrote:jlblues, I find your last comments interesting. First, you bring up Lincoln Properties's pipsqueak $100-million residential plan (I believe it was more like $50-million) when there's been a $507-million project (more property tax revenue, by the way) built complete with a Four Seasons Hotel (only the second in the Midwest), hundreds of new jobs, a flashy high-tech addition to the skyline and positive exposure for St. Louis' casino industry.



Then there's a proposal on the table for an estimated $500-million residential/commercial project by the same company, which will be an investment quadruple the size of Lincoln Properties' proposal. Plus, Pinnacle is planning more units. I think Lincoln proposed 300 units. Pinnacle is proposing 375 units. And you think the city screwed up?



Not to taunt, but come on. Even if Pinnacle invests just $50-million as they agreed for the new residential phase, Pinnacle would still have Lincoln Properties' proposal beat four and a half times over in terms of dollar investment.



Last, you seem to complain that the city didn't offer Lincoln incentives, but earlier seemed to be concerned that Pinnacle would ask for incentives for Phase II. What am I missing? (A whole lot)



Then you want Bourbon Street in St. Louis? Why would St. Louis want to emulate Bourbon Street? St. Louis could NEVER match it if it wanted - pre or post Katrina. I thought we were aiming for something bold and revolutionary?



Come on, jlblues.


AC, I have no idea why you keep getting off on your NIMBY-negativism tangent, but it really doesn't have anything to do with this discussion. I don't believe you are that obtuse, so I can only assume you are just a really big fan of this casino, or have some personal interest in Pinnacle's success.


LOL!! You are kidding, I hope.
Yes, ok, you are right, I was kidding, I believe you really are that obtuse... :lol:



Just kidding, but you seemed to have glossed over the fact that everything I wrote in the reply which you have referenced, was in response to your mistaken belief that nothing was being developed, or ever would be developed, on that land until Pinnacle came along. You seem to have this vision of Pinnacle as a knight in shining armor riding in on a white horse, risking life and limb, to save the damsel (the city) from a barren Laclede's Landing North! :lol: Again, the reason Laclede's Landing North hasn't been developed in the last two decades is because the city has never had a consistent plan for the area, and that is because the damsel is constantly dazzled by, and puts out for, every casino company that comes along promising to lasso the moon (and apparently she still is - St. Louis, you slutty ho! :lol:) Otherwise, LL-North would have been developed a long time ago! Not sure how I can say it any clearer.



And, you never answered my question about these supposed concessions that those tough city negotiators managed to wring out of Pinnacle. :?:



Re: Bourbon Street: You do understand the concept of an analogy right? In any case, not that I would want that, but why couldn't the Landing have been developed into a Bourbon Street-like, or French Quarter-like (if you prefer) entertainment district??? Now who is being the Doubting Thomas??? And, for the record, you should visit New Orleans. Katrina did no damage to, and had zero lasting impact on, the French Quarter. If anything, it is better than it was before.


Arch City wrote:Not to taunt, but come on. Even if Pinnacle invests just $50-million as they agreed for the new residential phase, Pinnacle would still have Lincoln Properties' proposal beat four and a half times over in terms of dollar investment.
Uh huh, and that is all that matters to you apparently - dollar investment. So, when Paul McKee proposes to level much of North St. Louis to build several golf courses next to Winghaven East, or proposes to build the world's largest warehouse/light industrial/distribution center, I guess you are going to be all for it, cuz hell, its dollar investment. Attention AC, the preceding sentence was an analogy, and in no way represents my beliefs about the actual outcome of anything. So, please don't ridicule me for proposing that we build a golf course on the Landing! :lol:

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PostJan 03, 2008#57

^

Why cant Washington Ave be the "bourban street like" and the landing be the "Atlantic city like"



I enjoy having the 2 completly different aspects of the city. You can actually do stuff!!!



Continue to build up the North side Landing with 2 more casinos max. (except larger gaming floor)

Continue to build up Washington ave.

Continue to promote downtown as THE business district of St. Louis.

And you gots your self a pretty sweet city, with centralwestend/forest park to back it up.



As someone who travels god aweful amounts, St Louis is actually awesome, it just needs "more," as well as a lower crime rate :twisted: [Ironically I have never been to Atlanta, so I cant comment on their city]

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PostJan 03, 2008#58

Personally. I don't think these are people that get out of St. Louis much. I could be wrong. They should go see other cities. Be inspired. Come back with confidence as citizens and inspire others to cultivate a fire to compete against other regions because St. Louis deserves it.


As I said before, the main problem is that many feel the region is unworthy of world class projects. Even more concerning is that when world class projects and ideas are presented, the region is unwilling to fund them at a world-class level. This is why AG Edwards and SLU have poor Metrolink access, why the transit system is facing a do or die vote, why the region can build innumerable ugly bridges to St. Charles but cannot fund 1 beautiful one to Illinois, and can sound-wall the hell out of Highway 40 but cannot make it attractive. The region and state cheaps out rather than develop the best infrastructure possible.



While I am not always so fond of New Jersey, I do get inspired a bit everyday by this commuter rail and toll highway heaven. :)


Come on, the city isn't just settling.


I didn't say the City is settling; I said that the City should not settle for the Pinnacle project as shown. City and regional leaders have made comments regarding their goals and objectives for the landing and should ensure that those goals and objectives are addressed through the proposal. If the goal is improve access to the riverfront, the through negotiation the City should work with Pinnacle to change the model so that it better addresses riverfront access. If we want world class designs, visions, and ideas our leaders have to be willing to pursue them.


Well, the second draft of the Bottle District was bold and revolutionary designed by Daniel Libeskind. But what happened? The bugaboos came out before the drawings were dry.


You said sound vision. The Libeskind drawings, while visionary in their architecture, left much to be desired in terms of urban design and connections with surrounding areas. Pointing out the flaws of the design is something the public and City leaders should be doing. Notice that while many complained that the third draft of the Bottle District was less architectural bold, the connections to surrounding areas were significantly improved from an urban design perspective. Far more of a "sound vision" than the second draft.


However, depending on one's perspective, many of those projects did help revive downtown St. Louis. Without them, downtown would be definitely be in worse shape. They helped to keep the lights from being completely turned off downtown.


This is true. I shutter to think what downtown would be like without the every-20-years revitalization kick (1960's, 1980's, 2000's) that St. Louis was on. The projects slowed the downward spiral, but failed to completely stop the long-term bleeding, as was their stated goal.


And I don't care what anyone says...St. Louis Centre was an awesome mall while it lasted. But every dog has its day. It's time to let bygones be bygones.


I still believe that the Mall could have slowly revived as a mediocre downtown Mall without City intervention so long as downtown's residential population continued to grow. The Mall was not awful as conceived, just not very good. Interesting parallels here to the Bottle District idea above. Had more leaders and members of the public stepped up at the time to point out the flaws in the design (i.e. don't built a fortress), perhaps it would not have suffered the same fate.

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PostJan 03, 2008#59

OK kids, let's put a stop to this. We've put our points out, now let's move on.

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PostJan 03, 2008#60

stlmike wrote:Yes, I have lived in other cities and I currently live in Chicago. I can tell you that even in the most successful cities, for every Navy Pier there is a failed Chicago World Trade Center (complete with a rendering) and countless other skyscrapers that promote themselves with a rendering and never see the light of day.



All the positivism in the world couldn't have saved them. It also doesn't mean that no one wanted the project to be built. It simply means that a rendering is an early stage of development and not that they are necessarily committed to building.


Very true. The same holds true for St. Louis and many other proposed developments in most cities.



Nonetheless, many projects don't come to fruition for many different reasons or a combination of reasons - including ones in Chicago. That doesn't necessarily the intent wasn't good. I still submit, however, that NIMBYism is not as bad in Chicago. In St. Louis, people come out of the gates like gangbusters with their complaint registry. I have a sister who lives in Chicago. I visit Chicago often - although not in 2007 - and what is happening there on the development end, despite some projects that might never see the light of day, could not be achieved with poor civic pride and self image, poor leadership and lots of doubting citizens. I guarantee you that it simply could not. That's the difference between successful cities and other cities. This is my point.



Although there were many doubters regarding Washington Avenue, many St. Louisans and regional political leadership got behind Washington Avenue's redevelopment, despite the naysayers, and look at what happened. Although community support means a lot, sometimes leaders just need to be leaders. The energy focused on Washington Avenue, needs to be given to other projects as well. There are even people doubting the Mercantile Exchange District. In my opinion, St. Louis could do without the predictable negative energy.


stlmike wrote:The way I see it, St Louisans are so unused to development that they either take every rendering for an actual commitment or they doubt everything. Both are pretty dense. I'm not saying I doubt that it will happen. I'd give it a 50/50 chance because I have no reason to believe one way or the other at this point.




I understand your assertion. However, a plan is a plan. Plans change. Even the plan for the Phase II model could change. People who have a misinterpretation or understanding of what is a plan are setting themselves up for disappointment anyway. A plan is just that - a plan. Plans change. But I still submit, once again, that there's no need to rush to absolute judgment/skepticism the minute a (re)development plan is announced.


stlmike wrote:St Louisans may be prone to the things you describe, but I think that the members on this forum deserve a little more respect. Me or Jlblues wouldn't be on this forum if we didn't have hope for things like this to really work out. You don't have to call me a NIMBY or a typical St Louisan every time I'm not frothing at the mouth over a broad rendering.
I think you are being a little sensitive with this comment. Where were you called a NIMBY on this thread? Where? Nonetheless, NIMBY is development board terminology that has been around for as long as there have been development boards. If NIMBY doesn't describe you, then you should not answer to it.


jlblues wrote:Just kidding, but you seemed to have glossed over the fact that everything I wrote in the reply which you have referenced, was in response to your mistaken belief that nothing was being developed, or ever would be developed, on that land until Pinnacle came along.


Nope. My point was that locals did nothing for decades to improve the North Landing. Let’s talk about the dinky Blues Museum that never came to fruition due to a lack of funding. Furthermore, I have been on development boards for eons. The Lincoln Properties project was listed on the city’s project development list – and who knows, it probably still is on the list. Nonetheless, I was one of the first to report on skyscraperpage.com (before the St. Louis Rising or Urban St. Louis boards existed) about Lincoln Properties proposed development for a sliver of North LL when it was first proposed, then reported when the city nixed the deal perhaps because it anticipated a better a project. In fact, I think that was the city’s plan. Many SSP’s St. Louis members were upset with the city – including myself.



However, I now say kudos to the leadership – particularly Slay and Crim. They stepped up and snagged a better deal for the city. Sometimes, the people at City Hall do know what they are doing. :)


jlblues wrote:Re: Bourbon Street: You do understand the concept of an analogy right? In any case, not that I would want that, but why couldn't the Landing have been developed into a Bourbon Street-like, or French Quarter-like (if you prefer) entertainment district??? Now who is being the Doubting Thomas??? And, for the record, you should visit New Orleans. Katrina did no damage to, and had zero lasting impact on, the French Quarter. If anything, it is better than it was before.


Honestly, I don’t want a French Quarter-like entertainment district in St. Louis. Not that the FQ is not a great place to be entertained, but St. Louis needs to create something unique and not something that bites off another city. And what other city has a world-class casino/hotel complex next to a major residential/entertainment complex (and district) next to a major river setting?



Also jlblues, I have visited New Orleans enough over the years and I know that Katrina did not damage the FQ, however, it was impacted in other ways because of Katrina. That was my point. Pedestrian activity did not pick up for months after Katrina hit.


jlblues wrote:Uh huh, and that is all that matters to you apparently - dollar investment. So, when Paul McKee proposes to level much of North St. Louis to build several golf courses next to Winghaven East, or proposes to build the world's largest warehouse/light industrial/distribution center, I guess you are going to be all for it, cuz hell, its dollar investment.


Naw. However, I do believe Lumiere Place (Phase I) is a quality, urban development. And the fact they invested $507-million without public support makes it all the better.

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PostJan 03, 2008#61

Arch City wrote: what is happening [in Chicago] on the development end, despite some projects that might never see the light of day, could not be achieved with poor civic pride and self image, poor leadership and lots of doubting citizens. I guarantee you that it simply could not. That's the difference between successful cities and other cities. This is my point.


What is happening in Chicago could not be achieved without a lot of things (a long history of public transit support; a thriving, centralized business district with a diverse economy; high profile real estate; diverse and well planned retail corridors...), but civic pride and doubting citizens would not be able to disuade a developer when the reliable numbers show that there is money to be made. Also, Chicago is not reliant on (and its urban-minded-citizens are indeed skeptical of) mega projects like this one that take up superblocks. One example is the area around Maxwell Street near UIC. It is essentially 5 or 6 blocks of manufactured "community" -- a Disneyland city, built all at once, complete with unused fake public squares and strange streets that seem cut off from the city around it. I do get skeptical about these sorts of projects because they are extremely expensive, risky, and difficult to maintain. This is why projects like Sky House and other individualized projects have earned my excitement and projects like the Bottle District have earned my skepticism. This is not to say that "world class" projects turn me off either. I am all in favor for these. But an 8 block of a pretend community right between a river and a casino is not a "world class project" in my view. There are other things that consitute the difference between successful cities and unsuccessful ones, much more important than rallying behind all of our developments: leadership, planning, coordination, criticizing the bad project, lauding the great one.

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PostJan 03, 2008#62

Chicago’s downtown was functional with all of those things historically, certainly, but The Loop was mediocre just twenty years ago. Businesses were still heading to the suburbs; the Magnificent Mile wasn’t as “magnificent” as it is now. Wacker Drive was “wack” in comparison to the way it is now. Chicago’s Loop was full of vacant buildings and modest new developments. The Loop's transformation since the 90’s has been nothing short of amazing.



One word says it all…..Daley!



Daley came back into office, pretty much like Guiliani did in New York City, and rallied the citizenry, business community, and the State of Illinois around Chicago. Leaders and stakeholders decided that they needed to participate to revive The Loop. Businesses joined in. The State of Illinois joined in. Private investors joined in. And of course the public committed funds. This formula worked well for St. Louis’ Washington Avenue. In fact, I’ve read that St. Louis’ TIF programs were influenced by Chicago’s.



Civic pride means a lot and carries a lot of weight. It should not be underestimated. This is why many cities create civic pride campaigns. Without civic pride, cities stagnate. That’s in City Planning 101.



Overall, Lumiere Place (Phase II), I think, is a good plan. I hope Pinnacle excutes Phase II as well as they did Phase I. We'll see.

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PostJan 03, 2008#63

I know, but the Chicago Loop was always in better shape than Downtown St Louis and it also was a greater regional "center" in terms of connectivity to public transport and commuter rail. Those tracks kept it on steady life support. We weren't as lucky to have had something so solid already in place. We had streetcars, but so did Chicago. They also had better and more effective city planning. Civic pride means a lot and carries a lot of weight, but so do a lot of other things that we are failing to do. I would resent the suggestion that disbelief in this or any project is directly harmful to the city, if that's what you are trying to say. If we all have a generally hopeful and healthy outlook, that's good enough. It's okay to doubt or have bad faith in a particular project. It is completely normal and within rationality. It's when someone has an irrationally anti-city stance that it is a problem. That is what is strange about some St Louisans (St Louis Countians). Just read the STL Today forums. No one on this board really sounds like that. There's no reason to evoke that kind of down-trodden St Louis spirit everytime someone has a negative response to a new development.

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PostFeb 21, 2008#64

I thought this belonged as well.




Monday, February 18, 2008

Loss Limits



The Missouri General Assembly is having its annual debate on casino loss limits, a state law that prohibits gamblers from losing more than $500 every two hours. Missouri is the only state that has such a law.



This year’s iteration of the proposal would couple a repeal of the limits to higher state taxes on casinos and an overall cap on the number of casinos. Proponents argue that limits put Missouri casinos at a competitive disadvantage to those right across the borders; opponents argue that the limits make it harder for some gamblers to lose an entire paycheck in a single spree.



In general, I side with those who favor a repeal of loss limits. Casino operator Pinnacle Entertainment has ambitious plans for its property on the St. Louis riverfront, including new residences and more retail and entertainment venues. Missouri law already has a provision to address the worries of those gamblers who fear they might lose the rent: a self-enrolled list of people banned from playing.




Mayor's Blog

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PostMay 26, 2008#65

Any idea when phase 2 begins? Is phase 1 already complete? It looks great!

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PostMay 27, 2008#66

^There is no timeline. There is no true commitment to build what's in that pictured model.



This whole thing is a concept that Pinnacle would like to construct. Nothing has really been announced, other than Pinnacle has already committed to new non-casino construction on the Landing ancillary to and as part of the construction agreement for the casino itself. In this market, it is impossible to confirm development of this project.



What I expect to see before construction begins:

1. Increase in Pinnacle's stock price and the freeing up of cash.

2. Stabilization in the debt markets for development funding.

3. Increased market demand for residential purchase.

4. General Downtown market stabilization.

5. Sustained profitability for Pinnacle operations in the StL markets.



And, of course, I think they'll finish the Lemay casino before adding on to their plots on the Landing. Nothing of a Phase Two beforehand.

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PostMay 27, 2008#67

Too bad Pinnacle couldn't have rehabbed the city-owned warehouses that are about to be torn down as part of Phase II.

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PostJun 13, 2008#68

I'm searching for all the details on Pinnacle's $50 mill residential "guarantee," if anyone could find/post that info that would just be super.

Thanks.

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PostJun 13, 2008#69

^"Details" have never been published, just that there was a "commitment" to invest $50 million in residential projects in exchange for the city's approval of the development agreement and the state's approval of the gambling license. I have never seen one word published about a deadline, penalties, conditions, project requirements regarding type or location of such investment, an approval process, or any other details. There have been a few mentions of it in Pinnacle's investor communications and press releases, mostly around the Port St. Louis project collapse, but no details that I have seen. There might be more info on their website, but I looked a while ago and didn't find anything.



Presumably, if it is a real commitment, the details are written into the development agreement, a copy of which I'm sure a resourceful person with a bit of time on their hands could get without too much effort. :wink:

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PostJun 13, 2008#70

^Just as I suspected...


jlblues wrote: a copy of which I'm sure a resourceful person with a bit of time on their hands could get without too much effort. :wink:


Too bad, at the moment I am neither.

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PostJun 13, 2008#71

im guessing their waiting to see how good their numbers are after a full year and then decide whether to invest in phase 2 or concentrate on their casino

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PostJun 13, 2008#72

^It has also never been made clear whether Pinnacle's $50 million residential investment "commitment" was to be part of or separate from their Phase II plans. Their interest in the Port St. Louis development implies that it was to be at least partly separate.

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PostJun 16, 2008#73

Regarding the affability of Phase Two reaching fruition:



I believe Pinnacle's strategic interests in the StL marketplace are to achieve primary revenues from the Lemay casino. My thoughts are based on the nature of each site, the construction plans for the facilities, and requisite demographics based on geography and target marketing: Lumiere for the "hip urban" and "convention" groups, Lemay for South County, SE Illinois, and JeffCo gamblers that could just as easily drive up 270 to Harrah's / Ameristar as they could Downtown, with Lemay as a closer competitor and as thus a more competitive offering. Further, I had worked with politicians primary to the selection of Pinnacle as the winning bidder to build both sites in 2004 (in a past career); while I can't name references, I do remember this being a primary consideration in the business plan.



To increase Pinnacle's return on investment, and further capitalize on their location Downtown, the redevelopment plans for the North Landing match perfectly with recasting the business model of Lumiere as an entertainment district unto itself, fulfilling their commitment to the City and State to invest in residential developments as well as making a significant real estate investment in underutilized properties with much potential, similar to how they've built up some rather large facilities at other casinos outside of StL. It also increases opportunities to capture more visitors into its doors and best capitalize on the construction of the tunnel to the casino, as it gives more options on the Landing (and to visit the casino) for the visitor to spend their time and money. Residential components further stabilize Lumiere as part of the fabric of the community and increase net foot traffic, even bringing in non-gambling revenues into retail and residential products.



As the real estate market currently sucks, I don't see ground breaking this year. However, I do see this as very viable, especially as a means to diversify gross revenue streams and net revenues & foot traffic inside the Lumiere facility.

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PostJun 16, 2008#74

Phase II isn't even on the horizon right now for Pinnacle. It is my opinion that it won't happen within next decade and might someday come to fruition with a repealed loss limit.



I just don't see Pinnacle in a financial position to persue Phase II, especially with their monies tied up with these developments over the next decade.



River City

Sugar Cane Bay

The Casino in Baton Rouge, La (formerly called Riviere)

The Kansas City Project

Atlantic City

Las Vegas? I've heard rumblings about a possible LV casino sometime down the road.

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PostJun 16, 2008#75

^stock price is hurtin' as well but that may be a result of the cpaital markets and the fact that casino are capital intensive industry ...

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