urbanSTL

MattnSTL wrote:For starters, it is rental. That alone makes it a different animal than a condo building. Second, if financing can be arranged, the only thing that could stop a project is some sort of architectural review, of which this project does not have to go through. So, if they can figure out how to do the financing, this one will go up.



In the mean time, the least they could do is pump the water out of the hole when it rains.

Sorry, I didn't realize it had changed from condo/rental mix to all rentals (didn't read the STLtoday.com article until just now).



Weren't we discussing the mosquitos breeding in that water earlier? At least it's too cold for mosquitos now. Perhaps Mills considers that pit a community skate park when it freezes.

We did discuss the water, but it continues to be a problem. As of about 3:00 pm today, there is standing water from the rain earlier in the week.

that hole in the ground has been there a long time

Although the CWE is arguably the most resilient and sought after neighborhood in St. Louis City I do worry about it becoming saturated with rental property. First there was a slight over confidence in the condominium market that may have turned into a overestimation of the rental market in the area. There are plenty of institutions (i.e. Wash U, SLU, BJC, etc.) that support this market, but this project may be waiting to see how 3949 Lindell leases with their somewhat pricey rentals.

Just watch, the finished product will probably be a high-rise building for doctors' offices.

DeBaliviere wrote: Just watch, the finished product will probably be a high-rise building for doctors' offices.

Actually that wouldn't be a bad idea as long as there is street level retail that the neighborhood could enjoy. Medical facilities are much less vulnerable to economic downturns.

ikazy1 wrote:

DeBaliviere wrote: Just watch, the finished product will probably be a high-rise building for doctors' offices.

Actually that wouldn't be a bad idea as long as there is street level retail that the neighborhood could enjoy. Medical facilities are much less vulnerable to economic downturns.

I think he was drawing on the irony of the fact that they tore down a high-rise building for doctors' offices

Slightly OT: The Word's project update appeared in a new monthly column called "Property Assessment", which will cover local real estate news. I'll be looking forward to it every month.

I'm not sure what it means but there was some significant drilling done in multiple locations on the site this week. They used long, skinny drill bits. Maybe some soil samples? Regardless, it costs money and I doubt they want this site vacant much longer. They moved out all the paying tenants and demolished an income producing property, my thinking is they need to get a replacement up as soon as possible.



Sean

^ Be careful Grover. Don't jump to conclusions. Sunk costs are sunk costs.

Maybe they're hoping to strike oil.

I can't help to think that this project or something in FPSE is going to pop this summer. It makes sense to me that an investor sees an expanding need/markert for condos/apartments in either CWE or FPSE considerting that the new Wash U BioMed center is completed, new BJC office building/ambulatory tower is going up, and now the new Shriners Hospital is back on track. I date to venture that a new Cortex building is much more likely now that a full time director was hired

Just a thougth considering the news the last several weeks and the apparent change in credit being pushed by and supported by HUD loans and Union Funds.

^Hey, we'll take any encouragement we can get.

STLgasm wrote:An appeal to Mills - If/when this development moves forward, please consider re-working the design. The clocktower just doesn't work. Also, please ditch the bricks and faux-historic facade in favor of a more contemporary design. Historic replicas are so mid-'90s, and the CWE deserves something fresh and truly modern. This building has the opportunity to be a real landmark in the City of St. Louis if designed well.

PLUS-FREAKING-PLUS +++

Exactly! ^

Now the Mills building must live up to the legacy of the Doctor's Building AND repay us for a mini-Ballpark Crater for several years as well! We should contact the developer with some examples. Anyone care to post a picture of an infill structure they'd find appropriate for the site?

stldotage wrote:Exactly! ^

Now the Mills building must live up to the legacy of the Doctor's Building AND repay us for a mini-Ballpark Crater for several years as well! We should contact the developer with some examples. Anyone care to post a picture of an infill structure they'd find appropriate for the site?

Save the brick and faux-historic crap for the blue hairs in downtown Clayton.

I kind of like this building in Seattle: