urbanSTL

David Amelotti said on Twitter that demolition is expected to last until the end of 2027, which seemed off considering where it's at. I hope Cordish can roll into construction by the end of 2027, but I know interest rates have increased and they continue to slow-walk 4 Light. I expect this to be an empty parcel for a little longer than desired or the scope decreased from 45 floors down to 25 or so. It wouldn't surprise me if Cordish and the Arch Park Foundation have been having discussions about the next steps and changes in the scope or design or desired timeline. 

I'd prefer they wait until the economic factors are more favorable, vs. cutting the scope of the project. I've said the same thing about Lambert. If you can't do it right or at least create room for expansion in the future, wait. The Millennium project has to be transformational for Downtown & the region. This project is a huge part of the future of downtown. It cannot be botched! This project will be the welcome mat to STL for generations to come. It has be done as planned. 

DogtownBnR wrote:I'd prefer they wait until the economic factors are more favorable, vs. cutting the scope of the project. I've said the same thing about Lambert. If you can't do it right or at least create room for expansion in the future, wait. The Millennium project has to be transformational for Downtown & the region. This project is a huge part of the future of downtown. It cannot be botched! This project will be the welcome mat to STL for generations to come. It has be done as planned. 

100%. Wait until the government isn't ruining the economy.

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I have recently heard from someone adjacent not to expect significant scope reductions or schedule changes. Demand for this project is high in private sector.

Yes, my understanding was this project was already a go and has major institutional backing. Not a typical project at all.

^Great to hear!  This project is a huge catalyst for DT.

Those are some of the exact things I was hoping to hear  thanks all

DogtownBnR wrote: ↑

1:54 PM - Oct 01

I'd prefer they wait until the economic factors are more favorable, vs. cutting the scope of the project. I've said the same thing about Lambert. If you can't do it right or at least create room for expansion in the future, wait. The Millennium project has to be transformational for Downtown & the region. This project is a huge part of the future of downtown. It cannot be botched! This project will be the welcome mat to STL for generations to come. It has be done as planned. 

I honestly can't think of a reason why economic factors will get better than now.   We been waiting for another BPV phase for a few years again and no indication they will break ground.   
Going off topic on thread but considerations as why I see this is the economic period for something to happen or not.

- Labor market is still best it has been in years and whether we have good job reports or not today it will still be 4.1-4.2% unemployment,.  I don't know how labor market can get any better in foreseeable future? and probably the biggest reason why we are still spending as consumers.  One, we are limiting immigration, two, people are staying out of the market and three, boomers are retiring so labor workforce will actually shrink not expand.  - On top of it, GDP is tied to population growth one way or another.  So I don't buy the idea that you can have economic growth on production gains only.  Maybe some businesses but that will because they need less white collar workers, AI and or blue coller, automation. 
- Treasury bonds will be north of 5% for a while and or national debt means more of the budget will need to go on interest payments (have to love China and the world is our enemy but please buy our bonds!!).  So something will give and somehow the govt has to cut spending somewhere and everywhere?  The three biggies by far - Social Security (direct cash back into economy), Healthcare (medicare and medicaid) and Defense.  Something has to give
- We went from doubling down on renewables to to all in on fossil fuels only and tariff wars instead of free market and technology driving energy needs.  Were back into inflation and higher interest rates to keep from wrecking the economy.    I just don't see a downward trend inflationary trend.   I think Feds will see 3% will be the new benchmark even though they won't say as much and Mortgages maybe float down to 6% at best..

14 floors are down and 14 to go.  When they get to 10 the wrecking ball will be used. There is still some work done to get the site ready before turning it over to Cordish but this isn’t going to take until end of 2027, more like a spring 2027 like it was posted here last year from the schedule someone got in the building next door 

Thompson Coburn lease at US Bank ends in 2029.  They are going to this site. 

Hopefully the demand isn't just shuffling the deck chairs and for every lease, another major downtown vacancy is created.

^ I would assume you have some shuffling.  This will be premium Class A space and  BPV would next spot which downtown needs in my simple mind.  The bigger challenge is to get the old space filled.  Picked your city and you can probably say the same.

9 to go 

When do they get started on the new project for this space?

When earth work is done and the site turned over to Cordish 

Site will be turned over to Cordish after it’s prepped for construction post demo.   There isn’t any plan to change what was proposed 

From the article it said that the next year would be spent clearing the site, seems like construction wouldn't start til 2028.

It’s always better to have a positive surprise. 

Because Flickr doesn't want to work with me adding pictures here anymore (which doesn't make sense), I'll upload some. Click through to see. These are from last week as the last little bit of the Millennium elevator shaft remained.

These pictures show what the view could be from the top floor of the residential tower. Arch and West-facing views will certainly go fast if they can pull this off.