urbanSTL

Grover wrote:^ http://www.parkpacificstl.com



BTW - judging by the website, the Parkside seems to be nearly sold-out.

wow, is that the case? wow.

^Now that takes me back!

The full parking lot has not been fenced, only a portion for construction vehicles. Looks like only work on Parkside is going right now. I would assume there is quite a bit of interior demo that needs to happen before any real work can start. The pads for the construction elevators are in place.

Demo crews (Spirtas) are tearing up a smaller structure within the fenced area on the east side of the building. Possbly an old loading dock area or something.

I just thought of something. Does anyone know if this project had a total sales goal to gain financing (for Parkside and Cityside), or if the financing for the project is broken into two seperate deals (rehab and new construction)? It would really ease my mind if it was one and they were simply waiting to start the new construction until they were farther along in the rehab.

Would not surprise me if this was financed separately or together. Just depends on how they got it structured to get the best deal. The structured parking is an integral part of the renovation, so I would think if they were financed separately, they are still very much linked together. One side is contingent on the other if separate.

i would be very curious to see what the cityside sales are at the moment. the parkside is a great project with decent scenery. but man-oh-man, i can't imagine there are scads of people lining up for a view of whatever the corpulent edifice across is (emporis has it as the 8com building. hmm). i'd imagine it's a difficult sell. of the many buildings actually deserving of nominations for demolition, that one (the ugly one, not the union pacific) and its neighbor to the south easily get them.

MattnSTL wrote:Would not surprise me if this was financed separately or together. Just depends on how they got it structured to get the best deal. The structured parking is an integral part of the renovation, so I would think if they were financed separately, they are still very much linked together. One side is contingent on the other if separate.

And I guess the fact that they've leased a significant amount of office space to Larson Allen will help. I wonder if they've given any consideration to adding additional office space and reducing the number of residential units.

Aren't most of the ammenities on the city side? If I reserved on the park side thinking that the city side was only a possibility, it might make a big difference.

i think the way the cityside is designed, it occurred to them that the cityside residential component might not pan out, at least initially. if you look at the renderings, the residences are more or less an appendage atop the parking garage and the parking garage roof is where most of the amenities are. as much as i dislike it, i'd imagine they'll go ahead at the very least with the parking garage portion and include the amenities with it. we shall see if the whole project goes up.



personally, i feel the like parking garage would be much less of an issue if they built some inhabitable component along tucker on the same floors as the parking garage. they've done it in a number of buildings in chicago where there are small studio apartments buffering between garage and street and then include the more complete residential floorplates atop those.



it probably isn't going to happen at this stage, obviously. in fact it was really just wishful thinking on my part. perhaps they'll stall the cityside component, the realty market will surge again, and they can build a larger, more significant building in place of the little apartment block they have now.

Couple passing by today







Sorry about the flash (In the car)





Elevators are up.

Thanks for the pics. Such a wonderful building. The wide sidewalk and meters in front of the library looks cold. Someday, this will be one of the best neighborhoods in the city. Its all there waiting to be pulled together.

Does anyone know when this project is projected to be finished?

dweebe wrote:Back side of the building.







The attachment on the outside of the building on the left side is an elevator. The one on the right is the ruble chute.

Why do you think this is the back side? I would consider this the front side. At least this is the best looking side. The opposite side is brown as if another building was once right up next to it. It looks weird on the other side. I hope when it is complete the whole thing is the same color. (Just my observations.)

Cityside will be connecting to the other side of the building, eliminating the multi-color facade that is currently visible. Cityside will be another color, however, so I'm not sure if that is considered "fixing" the issue.

newstl2020 wrote:Cityside will be connecting to the other side of the building, eliminating the multi-color facade that is currently visible. Cityside will be another color, however, so I'm not sure if that is considered "fixing" the issue.

No...Cityside will not be against this building, the pool area will but it will be quite lower than this building thus exposing the 2 colors of this building if they don't do something about it.

Don't you have to hit 40% reservations before the bank provides development money? Perhaps more now. People should be a bit more patient given the new economy.