urbanSTL

There is a pretty substantial difference between $400,000 and $129,000 for a "luxury living" development.

Not Really.



My point was the cheapest unit at Park Pacific is priced about 16% of the $800,000 unit in question.



The cheapest unit at the Chase is priced at 16% of the most expensive unit.



Everything is relative.



There are plenty of units available at 4545 Lindell. These people could get direct elevator access to their unit, so they wouldn't even need to see the people in their building who paid less than they did for their unit. As a bonus there is no pool, so they wouldn't need to run into them their either.

so, this building has sold 40 + units I heard and most of their penthouses. I think the more people know about this project, the more they'll be interested.

MattonArsenal wrote:There are plenty of units available at 4545 Lindell. These people could get direct elevator access to their unit, so they wouldn't even need to see the people in their building who paid less than they did for their unit. As a bonus there is no pool, so they wouldn't need to run into them their either.

While there is certainly an element of luxury associated with an elevator opening directly into your own unit, there's another angle. Less square footage devoted to dark and narrow interior public hallways in the building means more square footage is squeezed out of the building footprint for the developer to sell. It also removes the "hotel" image so common in most buildings caused by those hallways. And less "common area" in the building means less maintenance for the owners who move in.

^

Don't get me wrong. I think 4545 is a cool building.

Greetings!

My name is Jessie Miller; I am the residential Sales Manager for the ParkPacific Condominiums. I am so glad to see interest in our fantastic project. If you have any questions about pricing, floor plans, availability, etc. please feel free to contact me directly at 314-241-5330 or at jessie@parkpacificstl.com. You are welcome to visit our Sales Center during the business hours of: Mon/Tue/Wed 11am-6pm and Sat/Sun 11am-5pm. We have two beautiful models and a fabulous selections center. Also, don't forget to check out our website www.parkpacificstl.com.

Thank you again for your interest in this premier project, as well as Downtown St. Louis development.

Thank you for posting here, and welcome. The plans for the building look very nice. Is there a firm date yet for when full scale construction will commence?

I've heard second-and-third-hand grumblings from a friend in the construction business that the plans for the project may be in doubt.



Anyone know of any updates? parkpacificstl, care to comment?



Thanks in advance,



-RBB

that sucks.

RBB wrote:I've heard second-and-third-hand grumblings from a friend in the construction business that the plans for the project may be in doubt.



Anyone know of any updates? parkpacificstl, care to comment?



Thanks in advance,



-RBB

I've been assured that any rumors I've heard that this project is in jeopardy is false. The Cityside building is still very much in the works.



False alarm - sorry if I caused anyone to worry.



-RBB

^ They have their usual ad in this month's Alive magazine, but Melange is still listed in the index as well!

I think given the recent turmoil in the mortgage industry that they are being required to sell more units before construction can begin. That may be the reason the rumor got started?

Well this was supposedly going to break ground this summer, and we have officially entered September and the fall season. Any new word? Possibly parkpacific could inform us as to how close they are to the pre-sale requirement for construction? I'm coming back in town for fall break in the middle of October and will be sorely dissapointed if there is still a crappy surface lot there.

It is interesting to note that developers put out false information about competing properties. They will often say that they "heard" that such and such project "isn't going to happen". I've begun to see this more and more recently. Everyone in St. Louis, and I'm sure in other cities, are quick to jump on the "I heard...isn't happening" etc. The old pessimistic club of St. Louis particularly enjoys this game I think.

newstl2020 wrote:Well this was supposedly going to break ground this summer, and we have officially entered September and the fall season.

Unless I'm mistaken Fall doesn't begin until September 23 this year. That would still give roughly a month to break ground "on schedule." However, whenever I see a season given as a date for something I don't hold much credence to the claim.

JCity wrote:It is interesting to note that developers put out false information about competing properties. They will often say that they "heard" that such and such project "isn't going to happen". I've begun to see this more and more recently. Everyone in St. Louis, and I'm sure in other cities, are quick to jump on the "I heard...isn't happening" etc. The old pessimistic club of St. Louis particularly enjoys this game I think.

I agree with JCity. IMHO, the downtown developers have been pretty friendly up to this point, but I think as the available inventory rises, it's going to get a bit more cut throat out there. I hope everyone takes the "I've heard" doom and gloom reports with a grain of salt.

crbswiss wrote:

newstl2020 wrote:Well this was supposedly going to break ground this summer, and we have officially entered September and the fall season.

Unless I'm mistaken Fall doesn't begin until September 23 this year. That would still give roughly a month to break ground "on schedule." However, whenever I see a season given as a date for something I don't hold much credence to the claim.

well If you are going to play THAT game then they have 19 days to break ground...unless I'm mistaken.

No credible person in the industry is saying the project isn't going to happen, but the "grumblings" as you put it, are true in that the start of construction is on hold. Banks and investors are scrutinizing projects in a way not seen for some time. This is a welcome change in my opinion. With so many projects online, and coming online in the next few months, they are smart to wait till more homes are sold. Paying the interest on a piece of dirt makes more sense than paying on a vacant new building. With Skyhouse, Roberts, and BPV all starting up, there is a very real surplus of available new construction. Lawrence is smart to play this one safe. As the other projects fill up, and they can monitor the market conditions more accurately, they should be in a better position to move forward.

That matches perfectly with the timeframe I was told last week.

Great news- I'm glad to see this project is moving forward! This will definitely be one of my stops on the loft tour if I can make it.

Parkside Towers receives $5.1M in tax credits



Parkside Towers LLC was awarded $5.1 million in Brownfield Redevelopment tax credits to redevelopment the Park Pacific property downtown, Gov. Matt Blunt said Tuesday.



The tax credits will help turn the property, located at 210 N. 13th St., into a mixed-use development of restaurants, retail, commercial offices and residential condos. The tax credits will help create an estimated 396 new jobs.

Link

Today is supposed to be the start of construction. Not sure if this means a ground breaking with shiny shovels or not, but we should start to see some action.

MattnSTL wrote:Today is supposed to be the start of construction. Not sure if this means a ground breaking with shiny shovels or not, but we should start to see some action.

I think Wednesday or Thursday last week Alberici was bringing the construction trailers in during lunch time. When I walked by Parc Pacific they were securing the first trailer and the second trailer pulling up.

^They moved them around from the front. There is also a trailer there from a mechanical contractor.