St. Louis has a much larger number of small regional and community banks compared to metropolitan areas of our size. Banking in STL is very competitive as a result.
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I work in banking, so I wanted to see the variety of banks here. US Bank has the most branches with 31; I was surprised UMB only has one?STLAPTS wrote: ↑8:54 PM - 19 days agoSt. Louis has a much larger number of small regional and community banks compared to metropolitan areas of our size. Banking in STL is very competitive as a result.
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I suspect Thompson Coburn will end up at Millennium, I believe their lease at US Bank Tower goes until end of 2029
EWG is looking to move to 701 Market (Peabody).
https://www.ewgateway.org/wp-content/up ... e-Memo.pdf
https://www.ewgateway.org/wp-content/up ... e-Memo.pdf
Makes sense. Not great news for Gateway One though.
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A lot of action around downtown
No pictured- on going work at Wash Ave Food Hall
Apartments at locust and 10th
Last Hotel Renovation
LeMeridian hotel renovation
Coffee stamp location build out (and apartments above it being renovated at Wash Ave and 13th
US bank building upgrades
No pictured- on going work at Wash Ave Food Hall
Apartments at locust and 10th
Last Hotel Renovation
LeMeridian hotel renovation
Coffee stamp location build out (and apartments above it being renovated at Wash Ave and 13th
US bank building upgrades
https://www.bizjournals.com/stlouis/new ... tower.html
Peabody Plaza had the Peabody signage removed, I wonder if a different tenant will take it up. Both Sandberg Pheonix and HOK had new building signage added when they moved in.
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Peabody Plaza had the Peabody signage removed, I wonder if a different tenant will take it up. Both Sandberg Pheonix and HOK had new building signage added when they moved in.
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That's a perfect fit.dbInSouthCity wrote: ↑1:06 AM - 11 days agoGateway Tower will become residential
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Yeah, Banking community is pretty much all in Clayton now. US Bank and BofA relationship managers all got moved out there in the last 3-4 years. EB&T, Great Southern, Commerce, Parkside, Carrollton, Bank of Washington, First Mid, Midwest Bank Centres, PNC, Regions, Midland States Bank, Central Bank, Sterling Bank, Simmons Bank, Old National Bank, Busey Bank, JPM, and M1 Bank all have their primary StL offices in Clayton.StlAlex wrote: ↑10:20 PM - 20 days agoQuite a few but they're all regional and mostly based in Clayton or an exurban downtown. First Bank and Midwest Bank Centre are suburban based.gary kreie wrote:I wonder what % of their holdings, and shares are from St. Louisans since they gobbled up most of the local banks here. And they use it to build skyscrapers and football stadiums in Minneapolis. Do we have any St. Louis-based banks anymore?dbInSouthCity wrote: ↑1:22 PM - 22 days agoUS Bank CEO will be visiting the STL office on Monday and they’ll host a town hall at Union station for all of their STL area employees
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People’s and Northern Trust may also be in Clayton, not sure.
Other than Stifel, UMB and USBank’s Impact Finance, I’m not sure there are any other banks with their primary business in DT StL (I’m not including back office).
I would not expect that change any time in the next two decades. I deal with these bankers on a daily basis and to say they dislike the city/DT would be an understatement. Most of these people HATE the City and DT. They’ll offer the obligatory platitude about hoping it turns around blah blah blah but they genuinely don’t give af about the health or success of the city and would be just as happy to see it slide off into the mississippi and float down to the Gulf of Mexico never to be heard from again.
StL’s resurgence will be built on investing in the people already live and work there, and attracting young people and out of towners. Anyone waiting for some white knight from the county to step up and save the city is going to be waiting their whole life.
The benefit for non-profits is really interesting. Probably an unpopular take, but I think it would be cool to see the Intl Institute set up shop DT in a renovated building with housing for new immigrants and then look to develop more buildings DT for the same use.dbInSouthCity wrote: ↑10:45 PM - May 18"HB 3080 restores an expansion of the historic tax credit program allowing nonprofits to benefit from the same incentives as other developers. It also increases the historic tax credit to 35% in counties with less than 400,000 residents, up from standard 25% tax credits."
Idk if it’s still an issue, but during the Biden Admin they were paying hundreds of dollars every night to keep people in hotels.
And their tenants have been largely priced out of Shaw, TGS, TGE, FP, McKinley Heights, etc. so they’re forced to put these folks up in areas of the SE side that just aren’t the neighborhoods they were 20-30 years ago. They’re bad neighborhoods and these immigrants are easy marks down there.
Moving DT may help the institute raise its profile and provide better housing/transit opportunities to the people they help. Putting these folks up on the southside necessitates are car (it’s a fact) which just increases the costs for people already struggling. Moving them DT makes car ownership a desire and less of an immediate need.
The benefits to DT are obvious. And moving the festival of nations the Mall would be incredible.
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In the US, downtown health and tall buildings go together. Not so much in Europe. Places where great rivers meet and places that used to be the center of commerce in the old days are often classic architecture and touristy if they weren’t bombed in WWII. Skyscrapers and banks are elsewhere. How do make our downtown like Amsterdam or Paris.
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Building like that is illegal in the United States now. The best case scenario for StL is that we urbanize our blighted and under utilized places in a manner similar to Denver which is to say not very urban.
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^I think the relevant point is that a lot of it is already built. Moreover, we have the opportunity to change the zoning laws, making it legal again. I honestly think Gary's idea is a pretty good one, and I hope we can make it happen.
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I agree, people focus too much on towers. I personally find skyscrapers and the “skyline” the most overrated thing about cities.
The other problem is that the dense 4-10 story buildings built now really lack lasting architectural merit. It’s all 5 over 1 pre fab material buildings and wouldn’t want our downtown and surrounding areas to just be filled with those either
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The other problem is that the dense 4-10 story buildings built now really lack lasting architectural merit. It’s all 5 over 1 pre fab material buildings and wouldn’t want our downtown and surrounding areas to just be filled with those either
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buildings built now really lack lasting architectural merit
Looking around me I don’t see any evidence that our culture is building with any consideration of permanence or legacy.
Looking around me I don’t see any evidence that our culture is building with any consideration of permanence or legacy.
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Never forget what they took from us /schris fuller wrote: ↑5:23 PM - 7 days agobuildings built now really lack lasting architectural merit
Looking around me I don’t see any evidence that our culture is building with any consideration of permanence or legacy.
You're not looking too awfully hard then. The city's pillar institutions and their patrons continue to push for high quality design that often is for public enjoyment, and often designed by proud St. Louisans. Materials, methods, styles will always change, and the speculators and suits that put up mass produced spaces will persist, but it is unfair to broadly say that our culture and the people who make our culture do not have a sense of permanence or legacy.chris fuller wrote: ↑5:23 PM - 7 days agobuildings built now really lack lasting architectural merit
Looking around me I don’t see any evidence that our culture is building with any consideration of permanence or legacy.
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Laws and local regulations definitely have an impact on building things. In Amsterdam, the buildings are tall and skinny because buildings were being taxed by width, therefore, you have tall and skinny buildings.JaneJacobsGhost wrote: ↑12:54 AM - 8 days agoBuilding like that is illegal in the United States now. The best case scenario for StL is that we urbanize our blighted and under utilized places in a manner similar to Denver which is to say not very urban.
We can see it right here in the US. Pittsburgh had a split-rate tax system, effectively a land value tax, from 1913 to 2001 which saw the property itself taxed at a much higher rate than the commercial/residential improvements built on the land.
According to Parking Reform, downtown STL is 27% parking (their downtown does not include anything south of I-64, so the stadium lots, Purina, and Ameren are not included, which would obviously all boost that 27% higher).
KC is 29%, Indianapolis is 27%, Cincinnati is 21%, Nashville is 24%, Columbus is 27%, Cleveland is 25%, Detroit is 31%, Milwaukee is 20%, Minneapolis is 19%, St. Paul is 18%....Pittsburgh comes in at a clean 16%. And of that 16%, the vast majority comes on the edges, with near entire blocks in the core free of off-street parking.
This is a stellar example of a LVT working to save downtown Pittsburgh in large part, and I'd really like to see such a tax experimented with, at least downtown, to rake in taxes on these useless parking lots and give a real $ incentive to sell parking lots to the city or to a developer.
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According to Parking Reform, downtown STL is 27% parking (their downtown does not include anything south of I-64, so the stadium lots, Purina, and Ameren are not included, which would obviously all boost that 27% higher).
KC is 29%, Indianapolis is 27%, Cincinnati is 21%, Nashville is 24%, Columbus is 27%, Cleveland is 25%, Detroit is 31%, Milwaukee is 20%, Minneapolis is 19%, St. Paul is 18%....Pittsburgh comes in at a clean 16%. And of that 16%, the vast majority comes on the edges, with near entire blocks in the core free of off-street parking.
This is a stellar example of a LVT working to save downtown Pittsburgh in large part, and I'd really like to see such a tax experimented with, at least downtown, to rake in taxes on these useless parking lots and give a real $ incentive to sell parking lots to the city or to a developer.
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^Very good. I've been banging the LVT drum for 10 years on this board.
StL is uniquely primed for a successful LVT due the fixed quantity of land and an existing real estate tax that already estimates and taxes land value. The City could fairly easily phase out the improvements portion while ramping up the land portion in a revenue-neutral manner over a period of years. In a perfect world it would also apply to all the Eds and Meds institutions in the City and has about as much chance of getting BJC, WU, SLU, etc. on board as the Payments in Lieu of Taxes (PILOTS) that have caught on in other cities.
StL is uniquely primed for a successful LVT due the fixed quantity of land and an existing real estate tax that already estimates and taxes land value. The City could fairly easily phase out the improvements portion while ramping up the land portion in a revenue-neutral manner over a period of years. In a perfect world it would also apply to all the Eds and Meds institutions in the City and has about as much chance of getting BJC, WU, SLU, etc. on board as the Payments in Lieu of Taxes (PILOTS) that have caught on in other cities.
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Stl needs this encourage the development of vacant or abandoned buildings into housing
https://thehill.com/homenews/senate/5932776-housing-bill-regulations-reform/
https://thehill.com/homenews/senate/5932776-housing-bill-regulations-reform/
Auction is live. Currently has one day left, 12:30 tomorrow last bid. Current bid is $3M.StlAlex wrote: ↑8:31 PM - May 26https://www.bizjournals.com/stlouis/new ... louis.html
Bank of America Plaza to be auctioned on June 22, starting bid would be $2 million.
The building was last sold for $6.3 million last year.
It is roughly 60% vacant, with 210,000 square feet of contiguous vacant Class A space from the 19th to 29th floor.
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Separately, 1831 Chestnut is up for auction too. Someone currently leading with $250k bid. yikes.
1831 Chestnut had 3 tenants. We lost one to WFH, one to St. Charles, and then the other significantly downsized elsewhere downtown. This building is over 330,000 square feet of vacant space. Not sure how it will ever get redeveloped. Best case is probably a data center. Another great example of why these suburban style behemoths belong nowhere near downtown.MRNHS wrote:Auction is live. Currently has one day left, 12:30 tomorrow last bid. Current bid is $3M.StlAlex wrote: ↑8:31 PM - May 26https://www.bizjournals.com/stlouis/new ... louis.html
Bank of America Plaza to be auctioned on June 22, starting bid would be $2 million.
The building was last sold for $6.3 million last year.
It is roughly 60% vacant, with 210,000 square feet of contiguous vacant Class A space from the 19th to 29th floor.
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Separately, 1831 Chestnut is up for auction too. Someone currently leading with $250k bid. yikes.
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