urbanSTL

News story on Barack Obama's visit to the tower. I actually walked right past him in the lobby but didn't recognize him as he was much taller and younger looking than I expected. There is a little footage of the tower in the video clip of this newsstory, but it never mentions the tower by name.



http://www.kmov.com/localnews/stories/k ... e652b.html

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Is there any news on what is going into the vacant retail on the northeast portion of the ground floor? I remember someone here saying possibly a Starbucks would go in a long while back, but that doesn't seem to be happening. It appears to be quite an attractive space for any type of business, so the rent must be sky high?

The Starbucks is opening in October. They do have a "coming soon" sign in the window and a barista at the SBUX on Maryland confirmed the opening. She said they were orginally going to try for July but obviously it's been pushed back.

October's better for coffee anyway! It will be nice to have a Starbuck's a few blocks closer to my house.

I hope they don't end up closing the Starbucks at Euclid/Maryland, however they probably will. What the heck, if St. Louis Bread Co can sustain two locations in the CWE, I'm sure Starbucks could as well. They are probably moving to compete with Einstein bagels, and be closer to the medical center. This will probably be much like Karl Bissingers when they moved to Maryland Plaza in June (although Bissingers originally had the intention of keeping both stores open).

b777stl wrote: What the heck, if St. Louis Bread Co can sustain two locations in the CWE, I'm sure Starbucks could as well.

I don't know how to tell you this, but.....the STL Bread Co on Maryland closed a few months ago. It was discussed on here a while back, they are putting a new bakery in that place.

I hope they don't end up closing the Starbucks at Euclid/Maryland,

They won't close it. Having several locations within a certain radius is the model of SBUX.



They figure they need anywhere from 15-20K residents within a certain smaller radius of each store for it to be successful. In a way they self-cannibalize but in reality they are now able to serve more people. I doubt the people at Metro Lofts and Park East Tower go all the way up Euclid just for their cup of coffee when they have Bread Co and Einstein right there.

I've pretty much always thought that Bread Company's weakness is that they have pretty mediocre coffee, which is surprising considering how much I love their soups and sandwiches.

I'm sorry about my misunderstanding for bread company on Maryland-I am frequently out of town on trips and can some times be "checked out" of things around town.

^ The problem is that the coffee is often a few hours old and not very hot.

b777stl wrote:I hope they don't end up closing the Starbucks at Euclid/Maryland, however they probably will. What the heck, if St. Louis Bread Co can sustain two locations in the CWE, I'm sure Starbucks could as well. They are probably moving to compete with Einstein bagels, and be closer to the medical center. This will probably be much like Karl Bissingers when they moved to Maryland Plaza in June (although Bissingers originally had the intention of keeping both stores open).

I doubt very seriously that the Maryland Ave Starbucks will close. That place does a tremendous business, and it's closer to the population center of the CWE. There is plenty of room for more than one Starbucks in the 'hood.

JivecitySTL wrote:

b777stl wrote:I hope they don't end up closing the Starbucks at Euclid/Maryland, however they probably will. What the heck, if St. Louis Bread Co can sustain two locations in the CWE, I'm sure Starbucks could as well. They are probably moving to compete with Einstein bagels, and be closer to the medical center. This will probably be much like Karl Bissingers when they moved to Maryland Plaza in June (although Bissingers originally had the intention of keeping both stores open).

I doubt very seriously that the Maryland Ave Starbucks will close. That place does a tremendous business, and it's closer to the population center of the CWE. There is plenty of room for more than one Starbucks in the 'hood.

Just go to some parts of Seattle, New York and Chicago and there's literally a Starbucks on every block. I think SNL did a (fake) news story about a Starbucks opening inside another Starbucks.

I studied the Starbucks business model in business school and they will often build two or more stores near each other and cannibalize their own business thereby leaving little room for another coffee store to enter. They are all about convenience.



Based on their business strategy, I do not expect that they will close the other store.

TB1000 wrote:I doubt the people at Metro Lofts and Park East Tower go all the way up Euclid just for their cup of coffee when they have Bread Co and Einstein right there.

I walk to coffee cartel for my morning cup just about every weekend from debaliviere place!

^ You'll have the bikes and java place as an option soon!



Re: Park East - this is such a cool building. It's been fun to see it come to life as people actually move in. I did see in the Southside Journal (last week I believe) that two $1M+ units closed in the PE Tower - anyone know details?

Lady in the second hand shop at the corner of Park East and Euclid said that a doctor from Barnes purchased I think 2 penthouses. I don't know if that's it or not.



Edit: I meant Forest Park and Euclid

b777stl wrote:Does anyone know if a homeowner in this building can rent out a unit? In some high end developments, the HOA doesn't permit rental units. If they can, I'm sure there are medical students that would pay $$ for a nice unit in the building.

no one answered, ok, i'll try to answer. yes, the owners may rent out the units for "long term" renters, which I think is defined as greater than 6 months but don't quote me on that. now, about these medical students whowould pay to live in the PET. those kids are in debt enough, shouldn't they be renting something a bit less pricey?

mosl wrote: now, about these medical students whowould pay to live in the PET. those kids are in debt enough, shouldn't they be renting something a bit less pricey?

Well, if these are WashU students then I'm sure it's true for some that mommy and daddy would be more than happy to help out.

^ You're probably right about a couple, but none that I've met.

Med Students don't need mommy and daddy. If you're a med student, you have a ridiculous amount of credit. Banks and Credit cards are willing to loan you money with very little questions asked, mostly because they know they'll be repaid when the Doctor starts pulling in a serious salary. The problem is that the interest rates kick their ass later.