urbanSTL

^Here's more

Varsity Tutors Secures $57 Million To Build World's Largest Live Learning Platform From Technology Crossover Ventures, Adam Levine And Answers Corporation Executives

It would be great if Gateway could leave Clayton to anchor a new building in either CORTEX or downtown - especially downtown as part of the 10,000 jobs initiative being pushed by Gabe Lozano.

^ I guess somewhat of a surprise but it's been pretty apparent there is some significant tech presence out there.

Meanwhile, Downtown Detroit is landing yet another tech division of a suburban company:

http://www.freep.com/story/money/busine ... /77302714/

“We’re glad to be part of Detroit’s technology revolution,” Ty Beltramo, the company's chief innovation officer, said today. “There’s a critical mass forming around tech in Detroit right now. This move puts us close to our technology partners and the region’s best innovators. Detroit is a great city with an amazing culture. We want to participate in its future.”

About 30 workers moved into the offices last week; the company expects to hire about 20 more by the end of next year....

^ former SE Michigan (and Cleveland) resident; I keep in touch with developments there: I deliberately have scaled back my postings about developments in those two cities recently, but I do think we can learn a lot from what's going on in those two rust belt peers, especially in terms of Greater Downtown growth. Pretty impressive turnarounds that we just can't seem to get any similar traction on.

^ yes. And on cue an ag tech start-up just announced relocation to Helix Center in Creve Couer (from North Carolina I think) in part due to MTC funding.

I saw that in the St. Louis business journal this afternoon. Looks like plagiarism to me... Our journalist lifted the original article's prose word for word and put her own name on it.
http://www.bizjournals.com/stlouis/morn ... scene.html

dredger wrote:My takeaway is St. Louis glut of cheap space is paying off.

This has been happening in cities like Houston, Atlanta, Dallas, Denver - essentially boomtowns - for decades.

They overbuild, glut out, then get expanding companies and businesses who take advantage of cheap new office space or warehouse space. Jobs are created.

"The problem", if you will, in St. Louis is that it doesn't overbuild. A lot of its office space is old. Even "Class A" space for rent is old (or is aging) or rehabbed because nothing new has been built.

Anyway.......Houston is beginning to see a lot of layoffs because the energy sector - across all sectors - is sucking right now. All of the sparkly new towers with million-upon-millions of square feet could be sitting empty (or nearly) soon - as energy workers keep getting laid off. Many towers are still under construction.

I am willing to bet, however, Houston's economy won't take that much of a hit (or slump) for long because the office market in Houston could become "renters market", which would help fill up space.

Even the industrial warehouses/distribution centers are thriving in Houston........ AMAZINGLY thriving. Lots of speculation. The few little warehouses/DCs under construction in metro St. Louis (or even in KC) pale in comparison - by far. But when the glut happens........Houston likely will be a big first choice for firms looking for cheap space along the Gulf Coast.