We were in town for Thanksgiving so we went to check out the progress on the Meridian and I was really excited to see the new upgrades that are available!
Construction has started and they're working on floors 2, 3, and 4.
I was wondering if anyone had an idea why sales ay the Meridian seemed to have slowed down. I'm in the process of buying a unit, but curious why they are still only 2/3-3/4 sold?
ckeefe wrote:I was wondering if anyone had an idea why sales ay the Meridian seemed to have slowed down. I'm in the process of buying a unit, but curious why they are still only 2/3-3/4 sold?
Thanks for any help.
Last published article just a few days ago said Meridan was 80% sold. I would say that's pretty dang good and you should not worry about anything. Plus this is the slow time of the year. Watch things heat up as spring approaches.
Just a progress note: the west fire escape was removed on Tuesday, and the eastern one on Wednesday, completely exposing the Washington-side facade. I was sorry to see them going, but now that I see how it opens up the intersection of Tucker and Washington I'm excited to imagine how it will look when the Days Inn and Bogen are cleaned up.
phobia wrote:Just a progress note: the west fire escape was removed on Tuesday, and the eastern one on Wednesday, completely exposing the Washington-side facade. I was sorry to see them going, but now that I see how it opens up the intersection of Tucker and Washington I'm excited to imagine how it will look when the Days Inn and Bogen are cleaned up.
You might be waiting for awhile on the Bogen. I've been hearing they've run into some financial issues.
buckethead wrote:You might be waiting for awhile on the Bogen. I've been hearing they've run into some financial issues.
Indeed. To my knowledge, they haven't even closed on the purchase of the building, and it still belongs to Jump.
I'm just optimistic that it can't sit there and resist the momentum much longer. It, St. Louis Centre, and the Stix (Dillards) building are bound to give up their stubborn resistance before much longer.
Does anyone know if they plan on keeping the cool fire escape on the AD Brown building? I'm so pissed they took removed the beautiful fire escapes from the King Bee building. It looks naked without it. And aren't they still useful in case of fire?
STLgasm wrote:Does anyone know if they plan on keeping the cool fire escape on the AD Brown building? I'm so pissed they took removed the beautiful fire escapes from the King Bee building. It looks naked without it. And aren't they still useful in case of fire?
Uhm, just 5 posts ago I reported that they are already gone.
From what I've seen, tax abatements were only available on the earlier developments to encourage investment. Now that things are on a roll, tax abated properties are probably few and far between. So if you want to live downtown you're probably going to be paying the nominal rate anyway. Does anybody have info to support or disprove this?
This didn't prevent me from reserving at the Meridian. Is June here yet?
ckeefe wrote:Has anyone considered that the taxes at the meridian will be high? They will not be part of the tax abatement so taxed at 19% of the market value.
Any suggestions on a similar loft project that is subject to the real estate tax abatement, therefore will be taxed at a lower rate?
innov8ion wrote:From what I've seen, tax abatements were only available on the earlier developments to encourage investment. Now that things are on a roll, tax abated properties are probably few and far between. So if you want to live downtown you're probably going to be paying the nominal rate anyway. Does anybody have info to support or disprove this?
This didn't prevent me from reserving at the Meridian. Is June here yet?
ckeefe wrote:Has anyone considered that the taxes at the meridian will be high? They will not be part of the tax abatement so taxed at 19% of the market value.
Any suggestions on a similar loft project that is subject to the real estate tax abatement, therefore will be taxed at a lower rate?
Thanks for any feedback.
What floor did you reserve on that they told you delivery would be in June?
I reserved on the 6th floor and the June estimate is about 1-2 months old. Not sure how dynamic the schedule is but will check back in the near term. Anyone have more recent updates on the Meridian schedule and progress in general?
Any progress on the Day's Inn renovation? It'll be nice when that eyesore has been transformed into an asset.
Dave
What floor did you reserve on that they told you delivery would be in June?
innov8ion wrote:Any progress on the Day's Inn renovation?
There has been some preliminary interior cleanup (not enough to call demo) and they removed the tree that had grown quite healthy on the west first floor cornice. Not much else visible.
(It's hard not to pay attention to this one when it is prominent in the view from my stairwell.)
Hello there! I am currently in the process of relocating to STL and have spent the last week viewing several lofts and developments throughout STL to determine the most suitable area for my interests and me. Believe me, I have visited most every established and in construction loft/condo/townhouse in downtown, Soulard, Lafayette Square, and the CWE.
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However, having spent the last year in downtown Chicago, I concluded that the downtown lofts are most suitable to where I want to be and want I want to experience living in St. Louis. I will say though, it?s hard to compare this downtown area and market to that of Chicago and other metro areas as this is being revitalized as opposed to other locations that are already established. It seems as though here, you are buying into hopes of appreciation and growth in commercial entities as opposed to established areas. You are certainly getting a lot of premium features as both standard and reasonably priced in this market vs. others so I can see where outsiders say ?you?re lucky? or are envious of what you?re getting for the price here. Still yet, I do have some anxiety as a I am relocating and have limited exposure to the area.
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I?m very excited to see this forum for the exchange of information and am looking more closely into the Meridian Lofts. I met with one of the developers yesterday as he was heading out of town and briefly went through the display unit and some of the standard features. He did denote that the units should be completed in June (2nd floor) ? July (6th and 7th floors). I know there are several people who have purchased in the building and wanted to know more specifics. Price per SF paid, date purchased, upgrade costs, unit #, etc. I noticed that some of this info is listed on here and would be more than happy to discuss on the phone as opposed to this forum if that is more suitable/comfortable for you. Please email me to further discuss, as I?m eager to learn more and have limited time to continue with my search.
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My final question/comment revolves around coffee ? am I the only person who is disappointed that there are no Dunkin Donuts in the St. Louis area?!?!? I definitely hope they consider putting in a location somewhere on Washington; their coffee can?t be beat!
Didn't know we were talking about donuts....I was talking about coffee! KK donuts are the jam but I'm thankful they are not close by, I don't want such temptation easily accessible, especially after the bars!
Don't get me going on the lack of decent coffee places DT. I'm thankful for the Washington Post and I'll hit "Charbucks" when I'm desperate, but I'd kill for Seattle's Best (West Coast) or Tim Horton's (North East) within walking distance. BTW, welcome to STL. I understand your anxiety about the revitalization going on. But there's been something like $4B invested in DT in the last 4-5 years, and much more development has been announced and will be completed in the short term (Bottle District, Ballpark Village, and Pinnacle's casino just to name a few). I still think that you're getting in relatively "early" and that there's still great potential for appreciation. The demographic trend is toward urbanization and DT is anchored by our CBD and three great sports venues.
Ok, time for an update as I went by on Saturday to see what's new. They've poured concrete on floors 6 and up. (Not sure about other floors....) Also, it's easier to see how the units will appear as there are now lines marking up the layout. I believe I heard that partitions will be going up next week.
Other items of note. Car lifts will be available for $12-15k in order to park 2 vehicles in one spot. They have room for 35 spots that can hold lifts on the ground floor. The underground garage can't suport car lifts. For the pricier lofts or those with 2BR/2BA, this option is good for resale value, I think.
There will be a storage option above the master closet for approx $2600. Apparently there wil be a "false ceiling" of some sort above the closet that will leave room for storing items on top. Not sure how it all works, but it should help out with storage. Another good option for resale.
They'll be disseminating the unit customization website within a few days to those that have reserved.
There's an amazing gelateria (serves gelato!) that just opened a couple blocks west from the Meridian. Just had some gelato after the Auto Show. The place was awesome! And yes, they serve coffee.
I just purchased a unit in this building on the fifth floor. I think the building is fantastic.
However, I'm concerned about the extra parking. 15,000 for a lift is bit pricey, IMO. Where else can someone park an extra car nearby the Meridian on a daily basis?
Also, has anyone heard what the price will be for wood floors and carpeting?
I just purchased a unit in this building on the fifth floor. I think the building is fantastic.
However, I'm concerned about the extra parking. 15,000 for a lift is bit pricey, IMO. Where else can someone park an extra car nearby the Meridian on a daily basis?
Also, has anyone heard what the price will be for wood floors and carpeting?
Thanks.
$12,000 - $15,000 is actually not too too bad and that should appreciate nicely in the future. Lifts were around $11,500 at Printers and at Railway about a year ago. Moon Brothers is charging $17,000 for a complete separate second spot and the second spot is exposed to the elements as it is on the upper level of the garage. I think the lift would be a good investment and opens yourself up to a whole bunch of more buyers at time of resale. As for parking somewhere else, I think you could pay a monthly fee in the lot behind your building, the one that also sits behind Blend and Creepy Crawl. Ask the attendant over there for info.
The pay parking lots behind (south) the building and across Washington in front on Mosiac are $80 per month. Hope that helps. I'm not sure about the pricing/value of the extra spot in the building. Does anyone know if you can rent your own spot out to nonresidents???
