I know the original plan was for the bridge over Washington street to go down in June. When is it projected to be taken down now?
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aj2cb2000 wrote:I know the original plan was for the bridge over Washington street to go down in June. When is it projected to be taken down now?
Why dont you check in about this time every month
Here I have some handy dandy texts for you to cut and paste for your original post
July
August
September
October
November
December
If it goes much past December we might as well give up
Sarc off
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Laurel-
Do we have any updates?
Are we close to demo of the bridge?
Will this actually happen this summer?
Do we have any updates?
Are we close to demo of the bridge?
Will this actually happen this summer?
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The Washington Avenue skybridge will come down early in the construction of the project. The construction loan is supposed to open later this summer. On past projects, a general contractor would often begin construction in anticipation of a construction loan opening, but GCs are wisely taking a more cautious approach right now and not doing anyting until a developer has the loan open.
The commercial lending market is very tight right now. Everything seems to be on track to begin later this summer, but once the loan is actually open, I will definitely let everyone know. I will be able to give more details about the schedule at that time.
For those curious about the project, please feel free to visit our sales center and display. We are open Friday through Monday at the corner of 7th and Washington.
The commercial lending market is very tight right now. Everything seems to be on track to begin later this summer, but once the loan is actually open, I will definitely let everyone know. I will be able to give more details about the schedule at that time.
For those curious about the project, please feel free to visit our sales center and display. We are open Friday through Monday at the corner of 7th and Washington.
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The Laurel at MX wrote:The Washington Avenue skybridge will come down early in the construction of the project. The construction loan is supposed to open later this summer. On past projects, a general contractor would often begin construction in anticipation of a construction loan opening, but GCs are wisely taking a more cautious approach right now and not doing anyting until a developer has the loan open.
The commercial lending market is very tight right now. Everything seems to be on track to begin later this summer, but once the loan is actually open, I will definitely let everyone know. I will be able to give more details about the schedule at that time.
For those curious about the project, please feel free to visit our sales center and display. We are open Friday through Monday at the corner of 7th and Washington.
Thanks for the update, and know we look forward to the Skybridge's destruction.
Also, if you feel the need to host a "Destroy the Skybridge Party" at the Laurel's offices on the day of the first wrecking ball swing, I'll bring a case of some nice domestic beer in bottles. Think about it.
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Gone Corporate wrote:Also, if you feel the need to host a "Destroy the Skybridge Party" at the Laurel's offices on the day of the first wrecking ball swing, I'll bring a case of some nice domestic beer in bottles. Think about it.
I honestly don't know why they've never taken us up on our offer for free labor. ThreeOneFour and I have been begging to take sledge hammers to that thing since we were back on Greg Freeman's forum.
Yes, I will take a day off work, drink some of Gone Corporates beer, and get out a chair and watch it all day long.
The demo party comes up every couple of months. I personally think it is a great idea.
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DeBaliviere wrote:ThreeOneFour and I have been begging to take sledge hammers to that thing since we were back on Greg Freeman's forum.
Hey, I'm still ready whenever you are...
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DeBaliviere wrote:Looks like a few more have been reserved...
23/72 - 32%
Web site is now showing 19/72 - 26%
Not sure how accurate this is.
The Laural at MX, you have been quiet again. I'm curious about Embassy Suites. It seems that an agreement in place would give the financial folks a reason to green light this project and open up the piggy bank.
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I haven't had big news to report. Everything looks on track for our construction loan to open this summer (as I posted in June). I'll be able to post an updated construction schedule (including skybridge demo schedule) once the loan is open.
Prospective buyer traffic this summer has been slow but steady (in my experience, downtown traffic is normally slow in the summer for buildings that don't have units ready for move-in). I have been impressed with the quality of the traffic. Many visitors are in the early "information gathering" stage and ask many good questions, etc. Others are looking for something available immediately (or within a few months).
Again, I invite everyone to stop in to see our furnished display, scale model, and design center (finish selection room).
Our summer hours are:
Monday 11-5
Tuesday By Appointment
Wednesday By Appointment
Thursday By Appointment
Friday 11-5
Saturday 12-4
Sunday 12-4
Prospective buyer traffic this summer has been slow but steady (in my experience, downtown traffic is normally slow in the summer for buildings that don't have units ready for move-in). I have been impressed with the quality of the traffic. Many visitors are in the early "information gathering" stage and ask many good questions, etc. Others are looking for something available immediately (or within a few months).
Again, I invite everyone to stop in to see our furnished display, scale model, and design center (finish selection room).
Our summer hours are:
Monday 11-5
Tuesday By Appointment
Wednesday By Appointment
Thursday By Appointment
Friday 11-5
Saturday 12-4
Sunday 12-4
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I'm keeping my fingers crossed. This project is of critical importance, IMO.
DeBaliviere wrote:Web site is now showing 19/72 - 26%
Not sure how accurate this is.
21/72 - 29%
I love this project...great location, too...right on the MetroLink...on Washington Ave...near the riverfront with the new tunnel nearby...near the old courthouse district...courtyard protected from cold wind in the winter... and the penthouses should be awesome with their huge terraces! Especially the ones facing south... they will have a view of the arch & the really tall buildings...this one is the one I'm waiting for!! Plus, the amenities of the Embassy Suites hotel on the lower floors...city living at its best.
DeBaliviere wrote:DeBaliviere wrote:Web site is now showing 19/72 - 26%
Not sure how accurate this is.
21/72 - 29%
Only 21 units reserved after being advertised for this long? Ouch. The downtown market has REALLY cooled off. Sounds like they need to offer some sort of new incentives to boost the reserved units up to the likely needed 35 - 40 for construction.
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The downtown market is holding steady. Buyer's are just starting to figure out that new construction is not always a good value.
LoftsintheLou wrote:The downtown market is holding steady. Buyer's are just starting to figure out that new construction is not always a good value.
Everyone take note that this is coming from a realtor with lots of resale listings downtown. With all of the cancelled projects downtown, I think people are being cautious about buying into projects before they are fully under construction. I think this will be a great project. Once construction begins and the awful sky bridge comes down, I think sales will take off for all the reasons Dina mentioned above.
It has been reported on here that the construction financing for this project is not dependent on condo presales because of the large hotel component and the number of apartments included in the plans. It seems like banks are "licking their wounds" right now and I'm not surprised that projects are having trouble getting started.
I think people are being cautious about buying into projects before they are fully under construction.
But have prospective buyers lost any money? Or were all reservations or pre-sale deposits returned when the various projects were cancelled?
I love this project...courtyard protected from cold wind in the winter...
Brought to mind an essay from a writing class. Nora Ephron wrote in the "New Yorker" of her Manhattan apartment in the Apthorp Building.
...From the street, it's lumpen, Middle European, and solid as a tanker, but its core is a large courtyard with two marble fountains and a lovely garden. Enter the courtyard, and the city falls away; you find yourself in the embrace of a beautiful sheltered park. There are stone benches where you can sit in the afternoon as your children run merrily around, ride their bicycles, fight with one another, and threaten to fall into the fountain and drown. In the spring, there are tulips and azaleas, in summer pale-blue hostas and hydrangeas.
Most people who don't live in New York have no idea that New Yorkers have exactly the same sense of neighborhood that supposedly exists in smalltown America; in the Apthorp, this sense is magnified, because the courtyard provides countless opportunities for residents to bump into one another and eventually learn one another's names. At Halloween, those of us with small children turned the courtyard street lamps into a fantasy of pumpkin-headed ghosts; in December the landlords erected an electric menorah, which coexisted with a Christmas tree covered with twinkle lights.
Sounds like a sales brochure. The Apthorp was built in 1908 by the Astor family. The old Dillard's building will perhaps be a little less grand.
I can't find the entire article on-line.
I can't find the entire article on-line.
Don't bother... it would probably just prove our point exactly...I don't think we should compare ourselves with NYC positively or negatively...just try to appreciate STL for what it was, is & will always be...whatever you make of it & a great midwest city!
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Everyone take note that this is coming from a realtor with lots of resale listings downtown.
Listings but primarily buyers. It could be adverse selection, but looking at the pricing of the current new construction, most of my buyers would rather pay 140-180 / square foot for something they can see, measure, look at the view, and have inspected than something that they really can't see that's priced at $230+ / square foot.
Additionally, the sale contract provided by the builder is always very biased towards the builder.
It could be adverse selection. People choosing to work with a realtor may have a tendency to want the best value or maybe need something that's available quickly. But when I pose the option to buyer's for the past year +, none of them are interested in even looking at a display.
Prior to 2007, about 30% of our loft buyers bought pre-construction though. Since then, pricing has increased substantially while the rest of the market has either remained steady or dropped in price.
Laural at the MX, please accept my late thanks for the last update you posted in response to my question. So here is a few more questions?
Has Spinnaker taken full possession of the property? My understanding was the legalities were still being finalized. I would only assume that any construction loans or final agreement with Embassy Suites would require as such.
Second question. Would this project go forward soley on the merits of the Embassy Suites deal? It seems like a reasonable assumption. However, your insight would be appreciated.
Has Spinnaker taken full possession of the property? My understanding was the legalities were still being finalized. I would only assume that any construction loans or final agreement with Embassy Suites would require as such.
Second question. Would this project go forward soley on the merits of the Embassy Suites deal? It seems like a reasonable assumption. However, your insight would be appreciated.
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Well, now that we're past Labor Day, I would officially say that summer is over. However when I was downtown for the Mizzou festivities, I still saw the skybridge up and not in any condition to be removed.
From reading some of the earlier posts, it said that it would be down in the summer after a loan was approved. Either the loan was not approved or wasn't even submitted because this is still up. Is this project still a get go? The Loft website has not been updated in awhile.
From reading some of the earlier posts, it said that it would be down in the summer after a loan was approved. Either the loan was not approved or wasn't even submitted because this is still up. Is this project still a get go? The Loft website has not been updated in awhile.
To dismantle the sky bridge would mean that the Stix building's facade
would have to be refurbished to it's original condition-too much time and money for any developer and the headache of pleasing everyone keeping an eye on it, i.e. Nat'l Register of Historic Places. I also believe that buildings that are left in states of reconditioning are tax right-off for said company.
would have to be refurbished to it's original condition-too much time and money for any developer and the headache of pleasing everyone keeping an eye on it, i.e. Nat'l Register of Historic Places. I also believe that buildings that are left in states of reconditioning are tax right-off for said company.