Another option might be to take over Cityplace? That diamond resort takeover has been stalled for a while, right?
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^ that is a little complicated, the landowner and the building owner aren't a same person. something will have to give there and i think it will soon
^ Garage is also shared among the building owners (the three towers: Mansion House, Gentry's Landing, CityPlace) which further complicates any deal.
ThanksTalkinDev wrote: ↑Apr 14, 2023^ The upper floors are condos, but the hotel and ground floor retail portion is a large condo under separate ownership. I would assume the residential condos have one condo association and the the hotel condo is largely independent, outside of some maintenance and insurance agreements.
Given its location, it would make sense to keep it as a hotel, ideally with a better flag and management.
Definitely as ideal location for hotel. In same breath, I wonder if a few of the condo owners see this as an opportunity to get the building to be full on residential as well but assume devil in details & if they even have a contract clause that gives them a shot at it. Heck, I can see a corporate condo owner or two seeing this as a chance to expand footprint for future short term/airbnb type rentals/redevelopment opportunity. But that is utter speculation on my part.
Just a lot of potentional in the immediate area if you can get this building right as well as redevelop old muni courts/build on the muni courts back surface lot facing Clark.
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Hilton at the Ballpark and Union Station are having their best year ever through mid may
I wish DB could have a daily 30-second spot on each of the local TV news programs where he highlights the good things happening Downtown. It would help offset the constant negative reporting.
His persistent optimism is refreshing.
His persistent optimism is refreshing.
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Head over to state of downtown thread for a complete look
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Seconded.framer wrote:I wish DB could have a daily 30-second spot on each of the local TV news programs where he highlights the good things happening Downtown. It would help offset the constant negative reporting.
His persistent optimism is refreshing.
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^Does NextSTL have a YouTube channel? Would be a nice place for some short-form video reporting that could include those kinds of bits.
Tidbits from various threads and posts over last couple of day plus comments/question on what I understand for St. Louis downtown/near downtown hotel scene. Someone with a lot better handle and insight could do a better job but thought it was worth noting an update
- Chemical Building hotel conversion, plans posted
- Wells Fargo Hotel(s) development - site demo in progress or recently completed. Assume will be full steam ahead
- JC Midtown hotel - dropped. The proposed residential seems like a no brainer and a better fit IMO
- Jeff Arms building - hotel still part of development? assume in holding pattern
- Drury West Downtown - possible redevelopment, new tower, timeline?
- Drury Convention - possible sale, repurpose?
- Pruitt Site - believe a hotel is proposed as part of the redevelopment
I know I'm missing a few others that were either dropped or holding pattern, in receivership, empty, etc...
- Chemical Building hotel conversion, plans posted
- Wells Fargo Hotel(s) development - site demo in progress or recently completed. Assume will be full steam ahead
- JC Midtown hotel - dropped. The proposed residential seems like a no brainer and a better fit IMO
- Jeff Arms building - hotel still part of development? assume in holding pattern
- Drury West Downtown - possible redevelopment, new tower, timeline?
- Drury Convention - possible sale, repurpose?
- Pruitt Site - believe a hotel is proposed as part of the redevelopment
I know I'm missing a few others that were either dropped or holding pattern, in receivership, empty, etc...
From Reuters:
US hotel developers run out of cash as construction lending dries up
https://www.reuters.com/business/financ ... 023-06-05/
US hotel developers run out of cash as construction lending dries up
https://www.reuters.com/business/financ ... 023-06-05/
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OYO is getting 46 mil facelift and rebrand courtesy of Midas.
https://www.stltoday.com/news/local/bus ... 879b0.html
https://www.stltoday.com/news/local/bus ... 879b0.html
^ Awesome. Those murals are amazing too, looking forward to seeing them brought back to their original glory. This bit is interesting too:
The hotelier also plans to restore the top floor as an events space and turn another floor into Apartments by Marriott Bonvoy, a new brand that features fully furnished units akin to corporate housing that will target both business and leisure travelers. The downtown hotel would be the first in the country to feature the Bonvoy apartments, said Midas CEO and co-founder David Robert.
………….
Robert said his company — which is also the receiver for Hotel Indigo — was inspired by the civic leadership from the O'Loughlins, who remade Union Station, and the Taylors, which are co-owners of the new soccer team, and wanted to "step up" for the neighborhood. He expects his company will close on the purchase of the hotel at the end of the year.
Awesome!!! I can't wait to see this landmark building refurbished. I'm also look forward to seeing how those apartments do.
Hopefully they can make a bar/restaurant last on that corner. Jacques was good for a while.TheWayoftheArch_V2.0 wrote: ↑Aug 22, 2023OYO is getting 46 mil facelift and rebrand courtesy of Midas.
https://www.stltoday.com/news/local/bus ... 879b0.html
46m a much needed injection
Has Midas been the owner for sometime or are they new or....?
Has Midas been the owner for sometime or are they new or....?
Per the linked article:
The 1920s-era Oyo Hotel has been rebranded multiple times over the past two decades and has been in receivership for the past few years after its owner, Florida developer Joseph Gillespie III, filed for bankruptcy in 2019.
……..
Robert said his company — which is also the receiver for Hotel Indigo — was inspired by the civic leadership from the O’Loughlins, who remade Union Station, and the Taylors, who are co-owners of the new soccer team, and wanted to “step up” for the neighborhood. He expects his company will close on the purchase of the hotel at the end of the year.
Midas plans to use private financing for the renovation. The project is expected to produce $350,000 in annual taxes during the abatement, an increase of its current total of $211,000. That figure is projected to grow to $850,000 after the abatement period ends, according to data from the St. Louis Development Corp., which staffs the LCRA.
Not that I’m gonna argue for additional incentives but how does a project 30 feet from the regions transit center receive a 7 out of 9 points for “transit access”?
To get 9 points it has to be within 1/2 mile of a station of the future N-S line.
^ that’s kind of silly. Have the deemed the existing system to be a TOD success story already?
To quote Ryan O'Neal: that's the dumbest thing I've ever heardquincunx wrote: ↑Aug 23, 2023To get 9 points it has to be within 1/2 mile of a station of the future N-S line.
Business Journal is reporting this will be a Sheraton. So we can expect something similar to the recent Sheraton renovations in Denver and Phoenix.
Denver:
Phoenix:
Points Guy article about the Denver Sheraton renovation and Marriott's vision for the Sheraton brand
I love that this will be a Sheraton again. I hope to see that 'S' logo back in that circle on the upper right of the north facade like it was before 2014.
While I agree due to its location this project should have scored the full amount on transit…I don’t find it dumb to consider a project’s location in relation to future transit investments when deliberating incentives.
I would however change the criteria to within a mile of the future N/S line and reduce the point value to one. I could see maybe see reducing the radius and increasing the point value once it’s built.
I would however change the criteria to within a mile of the future N/S line and reduce the point value to one. I could see maybe see reducing the radius and increasing the point value once it’s built.
Sheraton as a brand was clearly trending downward and still has issues. As a Marriott Bonvoy Platinum I won't even consider a Sheraton because of "meh" personal experiences and consistent not-good reviews only for many properties. But it's good news if they're trying to turn the brand around and hopefully the St. Louis Sheraton v2.0 will be better than the last time around.aprice wrote: ↑Aug 23, 2023To quote Ryan O'Neal: that's the dumbest thing I've ever heardquincunx wrote: ↑Aug 23, 2023To get 9 points it has to be within 1/2 mile of a station of the future N-S line.
Business Journal is reporting this will be a Sheraton. So we can expect something similar to the recent Sheraton renovations in Denver and Phoenix.
Points Guy article about the Denver Sheraton renovation and Marriott's vision for the Sheraton brand
I love that this will be a Sheraton again. I hope to see that 'S' logo back in that circle on the upper right of the north facade like it was before 2014.