Part of the rush is wanting to reconfigure the space in1010 Pine and the Data Center where the skybridges currently attach. They can't permanently close off those walls until the bridges are down.
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I can't speak to urbanites in general, but I like skybridges. They're one of those things that makes a place feel urban to me. They tend to make office complexes seem larger and busier to me. And the view from them is often amazing. I'm quite fond of the view from the bridge connecting the main Barnes tower to Queeny Tower, for instance. Not all are created equal, to be fair. But the Southwestern Bell bridges always struck me as fairly innocuous examples.
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Also, do we have a timeframe for when we'll hear what happens with the tower?
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None that I've been able to find. No leaks of potential new tenants or targets. Just like the status of BPV II, while I'm positive discussions are occurring behind closed doors theirs nothing else at the moment.
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saw this snippet in an article about St. Louis Vacancy Rates in the BJ.
"But AT&T Missouri President John Sondag said the company will keep all of its downtown employees in the city. “We have since decided to keep everyone downtown,” he told the Business Journal."
"But AT&T Missouri President John Sondag said the company will keep all of its downtown employees in the city. “We have since decided to keep everyone downtown,” he told the Business Journal."
So this building is going to be empty or? I hope they keep at least some of it occupied.
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Yes. And don't get your hopes up that ATT will keep any presence at all in the tower. They're out.
Well that's just not true. I know AT&T employees (not contractors) who were assigned to downtown, and went to Des Peres in the past few weeks, when they otherwise would have moved back to 1010 Pine. Individual business unites have been making the decisions case-by-case.moorlander wrote: ↑Jul 06, 2017saw this snippet in an article about St. Louis Vacancy Rates in the BJ.
"But AT&T Missouri President John Sondag said the company will keep all of its downtown employees in the city. “We have since decided to keep everyone downtown,” he told the Business Journal."
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I figure it's worth a shot.ImprovSTL wrote: ↑Jul 12, 2017Think it will work?
https://www.bizjournals.com/stlouis/new ... cle_search
So no earnings tax can be the next TIF, I guess. You give it to one building then everyone will be asking for it. Seems like a slippery slope to start eroding away the earnings tax. That said, maybe getting more workers downtown will offset it with the high sales taxes...ImprovSTL wrote: ↑Jul 12, 2017Think it will work?
https://www.bizjournals.com/stlouis/new ... cle_search
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yep.So no earnings tax can be the next TIF, I guess. You give it to one building then everyone will be asking for it. Seems like a slippery slope to start eroding away the earnings tax.
They've started to tear down the pedestrian bridge between 1010 Pine and 909 Chestnut. Workers have been up there literally pounding at the glass with hammers and letting it rain down onto (closed) 10th St. Guess there's no delicate way to do it.
I hope not because it seems like earnings tax is one of the few steady forms of income left in the city. Doesn't seem to fluctuate at alljshank83 wrote: ↑Jul 12, 2017So no earnings tax can be the next TIF, I guess. You give it to one building then everyone will be asking for it. Seems like a slippery slope to start eroding away the earnings tax. That said, maybe getting more workers downtown will offset it with the high sales taxes...ImprovSTL wrote: ↑Jul 12, 2017Think it will work?
https://www.bizjournals.com/stlouis/new ... cle_search
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This will give Rex more fuel to have the entire thing repealed. Playing favorites with the earnings tax will piss off lots of people. Economically, it would only even make sense if they gave it as an incentive to lure a large company from the suburbs. If it's just the typical Downtown tenant moving to a new building this doesn't make sense.
SouthCityJR wrote: ↑Jul 13, 2017This will give Rex more fuel to have the entire thing repealed. Playing favorites with the earnings tax will piss off lots of people. Economically, it would only even make sense if they gave it as an incentive to lure a large company from the suburbs. If it's just the typical Downtown tenant moving to a new building this doesn't make sense.
But it's (kinda) done already:
https://www.riverfronttimes.com/newsblo ... -paying-itAnd so it is for Polsinelli, whose St. Louis office exists in a special situation unknown to the rest of us slobs. Namely, ever since 2010, when Polsinelli pays the city's half-percent payroll tax, and its workers pay the 1 percent earnings tax, the city kicks a chunk of that money right back to them. That $1,250 taken out of a first-year Polsinelli lawyer's salary doesn't go to subsidize police and fire and parks. Oh no. It goes right back to those partners.
It's a skunk deal – and it's not just Polsinelli. Turns out Anthem Companies, the insurance provider, has a similar arrangement with the city. They kick in payroll and earnings tax, and then the city kicks it right back.
These deals were cut a few years ago (2009 for Anthem, 2010 for Polsinelli), and they don't continue indefinitely — only until the companies have been reimbursed for the costs of upgrading their offices. In Polsinelli's case, that's apparently about $3 million.
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I think this is a good start to help lure tenants to the building.
From the BJ article: "Polsinelli, Stifel, Wells Fargo Advisors, WellPoint, Peabody Energy, Lord & Taylor and Anders Minkler. Those agreements often stipulated that the company may keep 50 percent of incremental earnings and payroll taxes — or those above what employees paid previously — for a defined period."
From the BJ article: "Polsinelli, Stifel, Wells Fargo Advisors, WellPoint, Peabody Energy, Lord & Taylor and Anders Minkler. Those agreements often stipulated that the company may keep 50 percent of incremental earnings and payroll taxes — or those above what employees paid previously — for a defined period."
Don't think this is much of a surprise, but CVS is not renewing its lease in the AT&T building, and has no other plans to open downtown.
It would take forever for this one to fill with the 5,000 to 10,000 SF users - Going to need one of our big corporate citizens to step up to take 400,000 SF or more
or
Put together an ungodly incentive package to lure a big out of metro user, but given the current political/economic climate, I do not see that happening
or
Put together an ungodly incentive package to lure a big out of metro user, but given the current political/economic climate, I do not see that happening
I heard from somebody who worked for the building management company that the current owner of AT&T Center is planning to default on their loan. Sounds like it's pretty typical for setups like this one.
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So I'm currently sitting at Kaldi's in City Garden. I know a bit about the AT&T building but can someone rehash for me?
All 3 buildings at 8th Street, 9th Street, and 10th Street are AT&T Buildings correct? The middle one on 9th is always the one people talk about as having large floor plates, so it's not easily divided, correct?
What is the possibility of the other 2 being redone - does either have an easier conversion ability?
All 3 buildings at 8th Street, 9th Street, and 10th Street are AT&T Buildings correct? The middle one on 9th is always the one people talk about as having large floor plates, so it's not easily divided, correct?
What is the possibility of the other 2 being redone - does either have an easier conversion ability?
The tallest tower in the middle is the one that is now vacant, and in foreclosure if I recall correctly. That one needs a lot of work for a new user, and some big users to make sense to reactivate. The other two are still occupied by AT&T, so conversion potential doesn't much matter.
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Okay - good to hear the other two are occupied. Certainly did not look like alot was going on in any of the buildings yesterday.MattnSTL wrote: ↑Oct 31, 2017The tallest tower in the middle is the one that is now vacant, and in foreclosure if I recall correctly. That one needs a lot of work for a new user, and some big users to make sense to reactivate. The other two are still occupied by AT&T, so conversion potential doesn't much matter.