Railway Exchange Building- The Next Chapter

DowntownNick · PostMay 13, 2016#512016-05-13T15:32+00:00

That guy is also one of the most negative people I've ever read, so I also wouldn't get too negative. I stopped reading urbanreviewstl.com a long time ago because it is all doom and gloom with that guy.

I think most people are familiar with getting their hopes around the City, but I believe we should be excited that people are interested in our Downtown.

roger wyoming II · PostMay 13, 2016#522016-05-13T16:29+00:00

^ I think that's right; even under the best of circumstances redevelopment of the RR/X will take some time... maybe getting construction under way by 2018 if we're lucky. But as I mentioned on the downtown thread even before this unexpected news. I don't think there is any doubt that we are poised for a real break-through downtown with development occurring at a more rapid pace than we've seen in a long time.

wabash · PostMay 13, 2016#532016-05-13T17:04+00:00

Also, I think it's worth remembering that these waves of announcements always result in a few projects coming to fruition. Whether in DT, CWE, or Clayton not every project pans out. But when there are signs of progress for JA, Chemical, Union Trust, Railway, and LaSalle - all of which have happened just in the last couple weeks and months - chances are a few will move forward and become a reality.

For every SkyHouse (DT), Mills Tower (CWE), or Montgomery Tower (Clayton), there have been multiple other projects that have succeeded. Basically, having a lot of projects in the pipeline is the best indicator of future progress. Downtown now has that.

roger wyoming II · PostMay 13, 2016#542016-05-13T17:17+00:00

^ Exactly... we really didn't have that downtown pipeline for a bit. It was pretty much limited to hoping Chemical would follow the Arcade-Wright but while that continues to lag all these other potential, and mostly bigger, projects have come to the table.

olvidarte · PostDec 07, 2016#552016-12-07T18:21+00:00

Does anyone know what kind of work is currently being done inside the Railway Exchange building?

I was hoping for something exciting, but my hopes dropped when i saw the Woodard Cleaning & Restoration logos on the equipment outside...they have lanes of olive and 6th blocked for the equipment.

STLrainbow · PostDec 07, 2016#562016-12-07T18:52+00:00

^ I was wondering what was going on there, too. Don't see any building permits.

I also am wondering what's going on at the corner with the YMCA move... I think it is supposed to open in January but didn't notice anything visible going on. Good to see though fence around the LaSalle for the hotel project and they continue to do whatever it is with the garage for the Mercantile Library project... hopefully that stretch will be a lot less bleak before long.

kinger · PostDec 07, 2016#572016-12-07T20:47+00:00

The Ameren subcontractors working on Locust hit a water main and water leaked into the basement of Railway for days before anyone realized. Supposedly filled it to the ceiling. It's just emergency restoration work.

chriss752 · PostDec 10, 2016#582016-12-10T02:52+00:00

Woodard is on site to clean out the buildings 3 basement levels. 8 Million Gallons of water flooded the place. Work is expected to take 3-4 months non stop day and night

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framer · PostDec 10, 2016#592016-12-10T03:55+00:00

I hate it when that happens!

symphonicpoet · PostDec 11, 2016#602016-12-11T09:25+00:00

If nothing else, I must say I'm pleased to see that someone cares enough to actually clear it out. That building is simply too important and too historic to sit vacant or neglected. It saddens me just how little I knew it, and I used to shop there somewhat regularly and even had distant relatives who worked there. (I knew it was large, but I never really understood its extent. In its heyday, which I gather was more recent than I'd have imagined, it had around three quarters of a million square feet on ten floors, two basement levels, and two floors of offices. And it might have been the first air conditioned department store in the country. Who builds ten story stores? Why hook a mall up to the thing at all when you have that much store? It's pretty much just an enormous mall anyway where you can pay for nearly everything in one blessed place. That's just absurd . . . and lovely. Ikea eat your tiny little faux Swedish heart out.)

jshank83 · PostJan 19, 2017#612017-01-19T15:41+00:00

Florida company with contract on Railway Exchange Building faces lien

http://www.bizjournals.com/stlouis/news ... hange.html (subscription)

Guessing this is not a good sign?

bwcrow1s · PostJan 19, 2017#622017-01-19T18:53+00:00

jshank83 wrote: ↑
Jan 19, 2017
Florida company with contract on Railway Exchange Building faces lien

http://www.bizjournals.com/stlouis/news ... hange.html (subscription)

Guessing this is not a good sign?

Anyone with a subscription?

Possibly relevant:
http://www.courier-journal.com/story/ne ... /90729008/

STLrainbow · PostJan 19, 2017#632017-01-19T19:35+00:00

I wouldn't read too much into any one particular project running into trouble but I think even if this firm buys Railway Exchange we won't see any work for quite some time as Hudson Holdings appears to have a heavy pipeline in front of it with big projects in KC & Cleveland among others set to begin soon... if those don't move forward I'd be dubious about anything getting done here by them; on the other hand if they do get underway as planned it will give some hope that they're the real deal.

dredger · PostJan 19, 2017#642017-01-19T21:31+00:00

bwcrow1s wrote: ↑
Jan 19, 2017

jshank83 wrote: ↑
Jan 19, 2017
Florida company with contract on Railway Exchange Building faces lien

http://www.bizjournals.com/stlouis/news ... hange.html (subscription)

Guessing this is not a good sign?
Anyone with a subscription?

Possibly relevant:
http://www.courier-journal.com/story/ne ... /90729008/

Liens are pretty common in construction business as an assurance or extra protection for work performed. We use them all the time and we also ask for lien releases every time we have paid off a subcontractor.

hoffa270 · PostJan 31, 2017#652017-01-31T23:34+00:00

Developer buys Railway Exchange Building downtown

http://www.stltoday.com/business/column ... 4063c.html

joelo · PostFeb 01, 2017#662017-02-01T01:42+00:00

Fantastic news, hopefully we'll hear more about it later this year. Would be huge progress if this and Jeff Arms both get started this year

dredger · PostFeb 01, 2017#672017-02-01T02:22+00:00

^ Only speculating, but gut feeling is Historic Tax Credit we get a major rewrite from Jeff City & developers of both Jeff Arms and Railway Exchange need those credit among other things to happen. So feel at least their is some pressure to get things to happen this year. Hopefully it will push Chemical Building forward & you get a trifecta

joelo · PostFeb 01, 2017#682017-02-01T02:31+00:00

dredger wrote: ↑
Feb 01, 2017
^ Only speculating, but gut feeling is Historic Tax Credit we get a major rewrite from Jeff City & developers of both Jeff Arms and Railway Exchange need those credit among other things to happen. So feel at least their is some pressure to get things to happen this year. Hopefully it will push Chemical Building forward & you get a trifecta

Agreed those tax credits are most likely going to be cut drastically next year. Really hope it doesn't slow down development, but it probably will

STLrainbow · PostFeb 01, 2017#692017-02-01T03:33+00:00

Can't imagine things getting underway this year. but I'd be extremely happy if we just get to the point of a solid plan announced... getting city review underway would be even more impressive. btw, I believe the Jefferson-Arms approval process for incentives is just about completed so I wouldn't be surprised if we see that building's sale completed soon and work begin sometime this year.

ImprovSTL · PostFeb 01, 2017#702017-02-01T16:10+00:00

The cuts if pushed through for the historic credits will take place in July I believe. I'm trying to get my own right now. Sad we can't protect some of the few advantages we have over other cities.

moorlander · PostFeb 20, 2017#712017-02-20T15:04+00:00

user28 wrote:anyone have access to the article in todays biz journal about this project?

$250million
Floors 9-21 residential
Floors 1-8 ?????

Hudson Holdings has "tapped" well known downtown developers Steve Stogel and Amos Harris to lead the development team.

http://www.bizjournals.com/stlouis/news ... j=77415031

chriss752 · PostFeb 20, 2017#722017-02-20T16:22+00:00

That is A LOT of Residential. 1-8 I would guess would be a Office/Hotel/Retail mix

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moorlander · PostFeb 20, 2017#732017-02-20T16:25+00:00

Hotel is a NO.

"We’re exploring some community or civic retail opportunities like a day care. I think it will probably include some incubator space. At this point, we can’t justify a hotel in the building.”

user28 · PostFeb 20, 2017#742017-02-20T20:12+00:00

At what point can there be justification for small space developments like shops and bars and diners in smaller footprints (like tiny bar) or the development of hostels and more St Louis touristy gift shops?

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aprice · PostFeb 20, 2017#752017-02-20T20:26+00:00

It's pretty crazy how much the Downtown Hotel market has changed in the past two years. When the owners spoke at the WashU Architecture event two years ago, they said "we could get four hotels in here tomorrow but we're looking for a more creative solution." I.e. they're looking for diversity to prevent failure and a building design that's cohesive. And even when the ULI TAP was assembled / presented about 1.5 years ago, a large hotel and a boutique hotel were seen as the two most viable tenants. I think residential would do quite well though, The Laurel's rents continue to rise. However sustained downtown residential is dependent on employment and a livable outdoor environment, both of which need dire attention right now.

Railway Exchange Building- The Next Chapter

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