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1115 Pine

1115 Pine

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PostFeb 16, 2013#1

I didn't see a topic for this...
Nearby, developer Pete Rothschild, who owns a four-story building at 1115 Pine across the street from SLU, was looking to sell the property until SLU announced plans to move last year. Rothschild said he bought the building several years ago only because it was part of a package of non-performing properties that included two more attractive parcels. “When the SLU announcement came, it was a glorious day,” Rothschild said.

SLU’s new law building was donated in January 2012 by Joe Scott, owner of Scott Properties, and his wife, Loretta. Clayco Inc. is the general contractor on the project, which is expected to wrap up by June.

Rothschild said he’s betting on a need for student housing, and he’s considering studio apartments that would appeal to students seeking a short commute. “They could just roll out of bed,” he said.
http://www.bizjournals.com/stlouis/prin ... opers.html
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PostFeb 16, 2013#2

Should be a nice little place for a couple of students. It's a cool building. The Arcade, Chemical, Jefferson Arms and Roberts Tower are all a short walk from SLU's new building as well, so I'm sure that many of the tenants eventually living in them will be SLU students.
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PostFeb 17, 2013#3

Will be nice to see life in this part of downtown.
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PostFeb 18, 2013#4



Hopefully the old Tanner B's spot next door also reopens due to SLU law.
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PostFeb 18, 2013#5

^ The article mentioned that the owner raised his price from $5.5M to $6.5M after the SLU announcement.
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PostFeb 23, 2013#6

That's a very cool little building. It would be fantastic to see some of these smaller buildings being fixed up all nice for residential use just like the big buildings (i.e., the Arcade-Wright). Just because a building is small doesn't mean it wouldn't still be rad to live in that part of town anyway.
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PostFeb 23, 2013#7

I believe the Tanner B listing jumped from $550,000 to $650,000. I don't know what kind of shape it's in. But it has recently been occupied. And at 7500 square feet, that still only $86/s.f. You could put four 1200 s.f. lofts in the upper levels and lease the main level as restaurant space. I think the Tanner B bar and fixtures are still in there.
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PostJun 12, 2013#8

When will units become available?
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PostJun 12, 2013#9

I've heard nothing in months and noticed Rothschild has the building listed for sale. Pete has been known to buy buildings without having the cashflow to renovate them into income-producing assets. (Well... it has happened once or twice through the years. Think: fire, ready, aim. It's a visionary thing.) Anyone know if that's the case here? Or has there been work on the residential units?
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PostJun 12, 2013#10

^ Maybe, but he's also completed many projects. Guessing he has a pretty high batting average.
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PostJun 12, 2013#11

^Batting Average is overated. I want to know his OBP and SLG 8) :D :lol: :roll:
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