No, that's an old rendering.
Demolition starts at site of future Armory apartment towers in Midtown
https://www.bizjournals.com/stlouis/new ... rME9AHXjXI
https://www.bizjournals.com/stlouis/new ... rME9AHXjXI
Six more entertainment-centered venues for the Armory will be announced in the next month or two, including a lounge for nightlife, Green Street said. Inside the 81,000-square-foot Armory, construction is already underway on the Rec Hall entertainment venue with ping pong, bocce ball and retro video games, which should open later this year. Other openings will be staggered, with a goal of something new every month.
The developer has started remediation as part of demolition on a building it owns at 500 Prospect Ave., the site of the first apartment building, which would abut Grand Avenue and could see construction start in late summer or early fall.
Woodworking company in the way of $200M Armory redevelopment faces eviction
https://www.bizjournals.com/stlouis/new ... icted.html
https://www.bizjournals.com/stlouis/new ... icted.html
A judge has issued an eviction order to a woodworking company that operates out of a building at the site of the future $200 million Armory redevelopment in Midtown.
St. Louis Circuit Judge Patrick Carmody issued an order this month that St. Louis Woodworks has to leave the building it leases at 500 Prospect Ave. by May 10, when owner Green Street Real Estate Ventures will take possession of the property.
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This ruling doesn’t seem to really do justice. Sounds like GreenStreet negotiated in less than the best faith and now stand reap a financial windfall.
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I just read the article... and I'm not sure why STL Woodworks doesn't sign a lease somewhere and move and then sell later? Does Green Street own their equipment?
I mean... isn't their client list, equipment, reputation, etc what their value is made up of?
I mean... isn't their client list, equipment, reputation, etc what their value is made up of?
The article seemed to indicate that it would cost the business close to $2 million to move that equipment to a new location. And that's just set up. The owner is 67 years old and was on his way to retirement, he's probably not looking to invest that kind of money just to move at this point.
They're working on a lease and I know of the two locations they're scouting. I know one location will allow them to begin moving in on Monday.
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Yikes... $2M is rough. I hope they can find a cheaper way to do it...
Without having any knowledge whatsoever of went down I think most people will agree their is always risk as a business owner on being a tenant. Good things don't always last. Undoubtly the woodworking business would have had a lot more leverage if they owned the building. The other item that seems odd to me is how big is the business? $2 million to move equipment seems high but as a business owner I would make it as high as I could for anyone who wants to listen.
Hopefully, they can find a good home in the city. This is where the city needs to excel at, find a way to make it worth it for the woodworking business to take on the disruption, move and also see some assistance. These businesses are bread and butter for light industrial areas that have ownership and stable decent paying workforce. Keeping within city while city getting the development such as the Armory is where things need to land, a win win. And who knows, maybe the 67 yr old owner has family succession plan in place and or maybe the current owner & employee has a buy out plan is place to keep the business going for years to come.
Hopefully, they can find a good home in the city. This is where the city needs to excel at, find a way to make it worth it for the woodworking business to take on the disruption, move and also see some assistance. These businesses are bread and butter for light industrial areas that have ownership and stable decent paying workforce. Keeping within city while city getting the development such as the Armory is where things need to land, a win win. And who knows, maybe the 67 yr old owner has family succession plan in place and or maybe the current owner & employee has a buy out plan is place to keep the business going for years to come.
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I saw some large digger? equipment going in and out of the Armory today 4/21/2022
I used to work for a decently sized custom casework and furniture business. Employed about 10 wood workers plus me as a designer and the 2 owners. They had bought a new 6-axis milling machine to make custom milled molding for ~$300k, but the cost to rewire the facility was close to the actual cost of the machine, as they had to pay for new transformers and utility lines for the new electrical service. Factory type woodworking equipment needs a ton of power, and its hard to just up and move that equipment unless the new place has it already in place. It seems high, but actually is probably realistic. Let alone they're heavy as sh*t and huge machines.dredger wrote: ↑Apr 21, 2022$2 million to move equipment seems high but as a business owner I would make it as high as I could for anyone who wants to listen.
Also compressed air systems are more involved than you'd think!
So are these towers going to be seven stories as the SLBJ article claimed (now in two different articles)? Or 12-14 like the renderings show?
^^ Thanks, didn't thing about the electrical end. Was thinking big heavy machines that need a decent foundation depending on their new location. Can see what you saying about air compressor systems as we have a few on some of our rigs.
I kind of feel like if this is true.
“Green Street’s development team purchased the building in 2016 and told St. Louis Woodworks right away about its plans for the Armory redevelopment, Rothschild said.”
I would have been looking to leave long before this point. But I understand the moving costs play into not wanting to move until you know you have to.
“Green Street’s development team purchased the building in 2016 and told St. Louis Woodworks right away about its plans for the Armory redevelopment, Rothschild said.”
I would have been looking to leave long before this point. But I understand the moving costs play into not wanting to move until you know you have to.
I certainly hope this is true…but for someone with a potential lifeline that could kick in next week, the owner is sure harping to the local press about getting shut down…chriss752 wrote: ↑Apr 21, 2022They're working on a lease and I know of the two locations they're scouting. I know one location will allow them to begin moving in on Monday.
https://news.stlpublicradio.org/show/st ... evelopment
“Lake Phil” hahaha. As if they didn’t know this was coming since 2016.
As far as the height of the building…I’ve seen KSDK refer to the Albion building as a 36 story high rise on more than one occasion…despite it being only 30 stories. I don’t think the local press has any idea what is going on, tbh.
Things could cost that much to move since it is a pretty large place but we would have to see how much and what kind of equipment he's got. He seems to be throwing around large numbers so I'm sure he's exaggerating. If he's got a contract with lease rates then it's more of a legal matter I guess. The hassle of being forced to move operations has to be worth something though.
Demo permit application submitted for the remaining part of the building with the woodworking company.
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^ Demo is definitely underway. Construction / destruction crews on site ripping into the middle of the one-story building.
Anyone know what came of the woodworking company and its heavy equipment, industrial tools. Wondering if they were able to relocate and keep their jobs in the city. St Louis being a land rich city truly has the means to do all of things within its limits.