^yeah this tower is surreal even in person.
Great photo Goat314, too bad the skyhouse on Wash ave was not able to break ground at the same time. A few well placed and well designed towers goes well with any urban fabric.
Are those usable balconies on the South side? Makes me wonder how it will look with BBQs and patio furniture out there.
^It'll look like someone lives there! =p
From what I remember reading on their website, I believe those are useable balconies...
goat, that picture is amazing...Just goes to show that good architecture is always appreciated and always fits in no matter what era its from...
If my MBA leads to that dream position with AB, some of those two bedrooms look dreamy, LOL...no yard (except a plaza out front), no maintenance (no problem), great views (can't put a price on a great view IMO, love my current one from 17th and Pine), great location (isn't that what it's all about), and Shula's steaks when I'm tired (5 mins from his kitchen to mine)...
From what I remember reading on their website, I believe those are useable balconies...
goat, that picture is amazing...Just goes to show that good architecture is always appreciated and always fits in no matter what era its from...
If my MBA leads to that dream position with AB, some of those two bedrooms look dreamy, LOL...no yard (except a plaza out front), no maintenance (no problem), great views (can't put a price on a great view IMO, love my current one from 17th and Pine), great location (isn't that what it's all about), and Shula's steaks when I'm tired (5 mins from his kitchen to mine)...
Thanks guys I tried my best lol
What I really like about the tower is that the glass changes colors with the season/weather. Sometimes the glass looks greenish, other times its silvery. Now its a cool blue.
What I really like about the tower is that the glass changes colors with the season/weather. Sometimes the glass looks greenish, other times its silvery. Now its a cool blue.
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RT is hosting the Downtown housing summit and walking tour next weekend. Should be a good time to check out the building and the new Shula's. They've also been linking to the countondowntown.com website recently on their fb page.
http://www.downtownstl.org/live/explore ... vents.aspx
http://www.downtownstl.org/live/explore ... vents.aspx
Roger Wyoming wrote:interesting photo.... almost looks like an architecht's rendering.goat314 wrote:Took this today. Roberts Tower is truly beautiful. Hope we can get more like this.
My thoughts too! (A little belated on the response
)
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Quick update on the stats for this one...
Emporis has this listed at 25 stories and 312 feet. Looks like we broke the 300 barrier after all!
Emporis has this listed at 25 stories and 312 feet. Looks like we broke the 300 barrier after all!
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No kidding. Should add a lot of life to the area. 50-ish condos will add a decent chunk to the population. Really is a PRIME spot. Especially with Pi going in around the block
I was wondering if the new bar addition on top of the Ballpark Hilton might push it over 300 feet?newstl2020 wrote:Quick update on the stats for this one...
Emporis has this listed at 25 stories and 312 feet. Looks like we broke the 300 barrier after all!
Stl Business Journal is reporting that the Roberts Tower is behind on electrical bill payments. Sounds rather odd.
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Post-Dispatch listed the Ballpark Hilton at 271' w/ the 360 Skybar addition. The paper had a pretty neat chart of tall things in the area from the Arch to ziplines.framer wrote:I was wondering if the new bar addition on top of the Ballpark Hilton might push it over 300 feet?newstl2020 wrote:Quick update on the stats for this one...
Emporis has this listed at 25 stories and 312 feet. Looks like we broke the 300 barrier after all!
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More hard times ahead for the Roberts Tower...
From my read of this, Mike Roberts just said that they're committed to seeing this through long-term, but that they're incapable of doing this now because they don't have any cash? And so, until their cash is in order, we've got an empty tower? Wow. Would they be hoping for some other entity to step in and supplant them for managing the Plaza?
The Roberts Companies, meanwhile, have (by my count) 9 buildings Downtown.
- Roberts Gallerie on 1200 block of Washington;
- Roberts Hotel on 400 block of Washington (old WS Hotel);
- Roberts Orpheum;
- Board of Education Lofts;
- Roberts Tower;
- The 5-story on 200 block of North 4th; and
- 3 empty buildings on 900 block of Locust (where their other Indigo would go).
Most are near-empty; the rest are fully empty. Are they the new David Jump, sitting on rotting properties until the speculative real estate economy turns 180? Or do they just not have the cash anymore? Either way, this really sucks.
Source: http://www.bizjournals.com/stlouis/news ... layed.htmlMichael Roberts, CEO of The Roberts Cos., said Monday that work on finishing the condos in the $80 million Roberts Tower in downtown St. Louis has been put on hold indefinitely.
"We won't make an effort to finish them off until we are certain of the opportunity" to let buyers know a certain date for moving in, Roberts said. "Our goal was to build a core and shell as part of our commitment to the city and the beautiful park (Old Post Office Plaza). We aren’t going to leave a half-built building or vacant lot ... When we are ready to get those things up and open, we will do it when we are ready."
From my read of this, Mike Roberts just said that they're committed to seeing this through long-term, but that they're incapable of doing this now because they don't have any cash? And so, until their cash is in order, we've got an empty tower? Wow. Would they be hoping for some other entity to step in and supplant them for managing the Plaza?
The Roberts Companies, meanwhile, have (by my count) 9 buildings Downtown.
- Roberts Gallerie on 1200 block of Washington;
- Roberts Hotel on 400 block of Washington (old WS Hotel);
- Roberts Orpheum;
- Board of Education Lofts;
- Roberts Tower;
- The 5-story on 200 block of North 4th; and
- 3 empty buildings on 900 block of Locust (where their other Indigo would go).
Most are near-empty; the rest are fully empty. Are they the new David Jump, sitting on rotting properties until the speculative real estate economy turns 180? Or do they just not have the cash anymore? Either way, this really sucks.
Is the demand there for condo space? I'm asking honestly at point-blank, because I'm ignorant of the matter, and I feel like if there was a desire for more people to own condos downtown, then this wouldn't be a problem.
I know downtown was one of the only areas in St. Louis (and one of the only downtown areas in the nation, really) that experienced significant positive population growth in the past decade, but is there much demand for the kind of space being offered in Roberts Tower?
I feel like the problem with building any sort of building downtown these days is most of the buildings down there have a lot of vacant space already, anyway. If those can't be filled, then.......
I know downtown was one of the only areas in St. Louis (and one of the only downtown areas in the nation, really) that experienced significant positive population growth in the past decade, but is there much demand for the kind of space being offered in Roberts Tower?
I feel like the problem with building any sort of building downtown these days is most of the buildings down there have a lot of vacant space already, anyway. If those can't be filled, then.......
^ I know I've heard Mayor Slay, developers, and other downtown boosters say that there are thousands of people throughout the region that want to move downtown, but cant sell their suburban homes. I'm guessing most of these people would be empty nesters looking for a downsize in a luxury condo. Once the economy rebounds, I'm sure we will see a lot more demand and therefore proposals for new condo construction.
I truly believe Downtown and the central corridor in general is the future development hotspot for St. Louis. Soooooo much untapped potential.
It depends. Roberts tower estimated cost is $80 million @ only 55 total units. That means those units are averaging $1.4 million. Not sure how much demand there is for that in St. Louis.rawest1 wrote:Is the demand there for condo space? .......
On the other hand, you have condos downtown that are selling very cheap and being bought up very fast. The Dorsa had over 20 units on the market 2 months ago. They are now down to 5. So if the price is right... YES there is demand.
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Why don't they increase the amount of units and rent them to generate a revenue stream? When the market improves they can put them on the market for sale.
What fascinates me is this is old school as it gets; someone builds something with their own cash in hand, takes a bet on the market, and plays hardball along the way when it comes to giving out their money. No banks, No pre-sales (think Skyhouse!), No tax incentives, abatements, credits or TIFS. How many buildings of this size and cost happen like that? Heck, one of the worlds wealthiest retailers won't even put one of their own lousy box stores without a handout of some sort.
They either make a fortune off their investment, think $1.5 million dollar condos on an inflated cost figures. Or go down with a huge loss. Love or hate the Roberts Brothers, I wish their was a few more around willing to take those chances.
They either make a fortune off their investment, think $1.5 million dollar condos on an inflated cost figures. Or go down with a huge loss. Love or hate the Roberts Brothers, I wish their was a few more around willing to take those chances.
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^ They have tax abatement and a CID that covers just the property. So it's not really old school.
^ and it really doesn't matter either way. Operating "old school" and using your own money as opposed to financing doesn't necessarily mean you know how to spend it wisely. Conversely, financing a project is a well accepted business practice and definitely can improve the liquidity of a company, as long as financing is with discipline and sound judgement.