urbanSTL

Set up almost done

They’re most certainly moving along quickly…..


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Can't wait for the real (tower) cranes to go up! 

I'm just hoping it's not another bait-and-switch.

^ Ryan McClure doesn’t do bait and switches, he delivers on what he said he will deliver

I'm not worried about a bait and switch. The building had to come down. 

I am worried that the market (both macro and local) is going to be weaker when it's time to build and Cordish walks away from the original vision. 

addxb2 wrote: ↑

9:14 PM - Apr 16

I'm not worried about a bait and switch. The building had to come down. 

I am worried that the market (both macro and local) is going to be weaker when it's time to build and Cordish walks away from the original vision. 

I can't recall a significant project that has ever kept its original vision in my limited memory.  Its still about private capital financing the project based on what the owner/developer thinks the market will demand and tenants it can land.   My hope is Cordish has a major  law firm in its pocket that will pay a premium for at least part of the vision.   

But like you said, timing is brutal as a good argument can be made that we are heading towards or if not already in stagflation.   That is worst situation to get this project breaking ground with interest rates not coming down for financing and costs keep creeping on ever upward trajectory.

dredger wrote:

addxb2 wrote: ↑

9:14 PM - Apr 16

I'm not worried about a bait and switch. The building had to come down. 

I am worried that the market (both macro and local) is going to be weaker when it's time to build and Cordish walks away from the original vision. 

I can't recall a significant project that has ever kept its original vision in my limited memory.  Its still about private capital financing the project based on what the owner/developer thinks the market will demand and tenants it can land.   My hope is Cordish has a major  law firm in its pocket that will pay a premium for at least part of the vision.   

But like you said, timing is brutal as a good argument can be made that we are heading towards or if not already in stagflation.   That is worst situation to get this project breaking ground with interest rates not coming down for financing and costs keep creeping on ever upward trajectory.

I feel like this development's scope was relatively based in reality. Thompson Coburn could easily be the company theyre targeting for the office portion and there's good evidence that there's strong demand for luxary apartments downtown. They're really making the building itself the attarction for residents as opposed to relying on downtown, like smaller projects do. I agree that the largest issue will be stagflation and broader economic trends, but I feel like market demand is not a big concern for this. Remember, new Class A office is actually in high demand.

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Well, come on now let’s not be pessimist. Let them prove us wrong, right?


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Not sure if this has been brought up before, but why couldn't they begin construction on the residential tower while the existing tower is being demolished? Is it to save money or use the site of the old mid-rise as a "dumpster yard"?

jacob_rb_15 wrote: ↑

1:20 AM - Apr 17

Not sure if this has been brought up before, but why couldn't they begin construction on the residential tower while the existing tower is being demolished? Is it to save money or use the site of the old mid-rise as a "dumpster yard"?

A number of reasons, the main one being full financing likely isn't secured and the new buildings probably aren't fully designed yet and have yet to be approved when they are. Major utility work likely needs to be done for the whole site, soil testing needs to be done under the existing buildings which can't take place until they're removed, debris/dust/asbestos management with the tower coming down makes simultaneous new construction more difficult, etc.

I wonder if the will retain the tunnel to the parking garage under 4th?

Full erection

The crane's already making a nice silhouette on the webcam 

Once the new building goes up, that will be such a symmetrical balanced skyline

Except for the horrible no good Peabody


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