Well, I'd say if you gave any of those companies the massive amount of subsidies they're giving the Cardinals to make money off of office space, they would come on down.
Out of curiosity, did Centene receive any tax abatement, TIF, etc.?
Out of curiosity, did Centene receive any tax abatement, TIF, etc.?
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~$75 millionbwcrow1s wrote:Out of curiosity, did Centene receive any tax abatement, TIF, etc.?
Brian Feldt @stlbizbfeldt
Ballpark Village Phase II gets bigger (now $260 million) as city approves $119 million in bonds to help pay for it.
The project is now estimated to cost $260 million, up from $220 million, due to added office, retail and parking space.
https://www.bizjournals.com/stlouis/new ... -city.html
(I'm not a subscriber, so I couldn't share the entire article)
Ballpark Village Phase II gets bigger (now $260 million) as city approves $119 million in bonds to help pay for it.
The project is now estimated to cost $260 million, up from $220 million, due to added office, retail and parking space.
https://www.bizjournals.com/stlouis/new ... -city.html
(I'm not a subscriber, so I couldn't share the entire article)
Not too much new information, unfortunately, to my knowledge.The city of St. Louis’ Industrial Development Authority on Tuesday authorized the issuance of $119 million in bonds to help finance the second phase of Ballpark Village, which has grown in scope to include more office, retail and parking space.
The project is now estimated to cost $260 million ( up from $220 million when the project was initially announced in October 2016), said Cordish Vice President of Development Nick Benjamin.
St. Louis Development Corp. Executive Director Otis Williams said construction crews should begin work on the project in November or early December.
In all, the development will include a 117,000-square-foot office building, a 220-room boutique hotel, a 900-space parking garage, a 30-story apartment tower and 75,000 square feet of new retail space.
The city of St. Louis is providing $65 million in subsidies to help finance the development.
PwC is believed to be the anchor tenant in the office portion and Rawlings is expected to also have a presence in the development.
A portion of the subsidies is contingent on the development’s tenants creating net new jobs for the city. St. Louis officials have been vague in saying exactly how many jobs would be required to be net new.
Tuesday before a vote was taken, at least some of the Industrial Development Authority directors did not know what the threshold was.
After the meeting, Benjamin told the Business Journal that of the 117,000 square feet of office space, 65,000 square feet would have to be classified as net new, meaning roughly 55 percent of the jobs housed at Ballpark Village would have to be net new to the city.
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A rendering of the planned Live! Hotel as part of the St. Louis Cardinals' second phase of Ballpark Village.
Enlarge
A rendering of the planned… more
A clause in the development agreement would allow a company already in the city to qualify as net new jobs if it tells the city’s development agency that it would have left the city if not for Ballpark Village’s new office building.
For instance, PwC officials have said they’ve also scouted other areas of the St. Louis metro area, which could satisfy the aforementioned requirement if the firm signed an affidavit.
Rawlings, having its operations outside the city, would satisfy the net new jobs requirement. It’s unclear if Rawlings’ interest in Ballpark Village would represent an expansion or move for the company.
The Cardinals told the Business Journal in late September that the team is likely to make announcements regarding tenants in the near future. Benjamin said the group may have more information as soon as next week.
Mark Grimm of Gilmore & Bell and Dorothy White-Coleman of White Coleman & Associates serve as co-bond counsel for the city. Peter Czajkowski of Stifel is leading the underwriting of the bonds. Amelia Lewis of Dentons is counsel on behalf of Cordish and the Cardinals.
900 new spots, so many parking garages already. Is this underground?
^ Hopefully the office square footage will increase. Who knows.
I wonder how much in industrial bonds the city has approved this year between One Hundred in CWE, now BPV II and any others out their on a smaller scale..
I think it is a good move as by years end you should have two new residential high rises going up in the right places in the city
I wonder how much in industrial bonds the city has approved this year between One Hundred in CWE, now BPV II and any others out their on a smaller scale..
I think it is a good move as by years end you should have two new residential high rises going up in the right places in the city
Nothing new in the article that we didn’t already know. $260 Million seems fitting since the Office Portion, based on Renderings, is 12 Floors and the Tower is 30. Overall, 3 additional floors compared to the original plan. Also, next week for an announcement seems about right as my friend pointed out with an announcement for mid-month.
I created a new page on my website that will include occasional updates once the project starts. I’ll be downtown on a weekly basis once construction starts so that I can document the changes that take place.
http://www.buildingstlnews.com/ballpark-village.html
http://www.buildingstlnews.com/ballpark-village.html
So is this additional subsidy that we didn't already know was coming?
I guess.jstriebel wrote:So is this additional subsidy that we didn't already know was coming?
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Great to see this progressing. Odds are we will have two cranes over downtown by January.
I am guessing 3 as the office portion is quite large for one crane to get all 4 corners of that building.Chalupas54 wrote:Great to see this progressing. Odds are we will have two cranes over downtown by January.
Office: 2
Tower: 1
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Good point. Compared to other midwestern Metros, STL is seeing a lot of vertical construction at the moment. The Centene Towers, One Hundred, BPV.
Post-Dispatch 10 minutes ago. There is supposed to be another announcement today.
http://www.stltoday.com/business/local ... 54d6d.html
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But in regards to this, where is the Office Building in this rendering? The other ones in thread from last week show the office building being above the Hotel.
http://www.stltoday.com/business/local ... 54d6d.html
But in regards to this, where is the Office Building in this rendering? The other ones in thread from last week show the office building being above the Hotel.
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Loews is definitely a great brand. Much more upscale than others.
It will be a nice addition.
Stayed at New Orleans Loews a few time thanks to my boss. I have gotten better of taking advantage of downtown hotels in my business travels as of late when I can make it happen. Just hands down better experience being able to have the ability to forget about the car, being able to walk & choices of eateries & entertainments are always better.
That design is great. It's modern yet its style is a fantastic fit for the area. You can definitely see some of the historic respect it pays.
A lot of St. Louis's new construction (at least half, I'd say) has been designed awfully. So I'm inspired to see this.
A lot of St. Louis's new construction (at least half, I'd say) has been designed awfully. So I'm inspired to see this.
Behind it, I think. In the renderings posted last week some had the old setup and some had the new setup. Whoever did the article didn't pay attention to details and just posted everything.
This I think is the correct setup. It does look different than the one from today but it lines up better to me than the older ones with the new footprint.
Is there a baseball game taking place in that greenspace?jshank83 wrote: ↑Oct 04, 2017Behind it, I think. In the renderings posted last week some had the old setup and some had the new setup. Whoever did the article didn't pay attention to details and just posted everything.
This I think is the correct setup. It does look different than the one from today but it lines up better to me than the older ones with the new footprint.
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I'm relieved that this seems to steamrolling ahead! I admit i was one of the many doubters although its taken a little over a decade i'll give the Cardinals credit where its due.
With this and many other projects going on all around the city these are optimistic times.
With this and many other projects going on all around the city these are optimistic times.
The design of the hotel compliments 8th and Clark really well. It has the look of the Cupples district and the look of Busch Stadium overall. It really helps connect Cupples to BPV in a way that seems natural.jsbru wrote:That design is great. It's modern yet its style is a fantastic fit for the area. You can definitely see some of the historic respect it pays.
Great to see Loews brought in as a partner. The more non-Cordish/non-Cardinal investors, developers, managers, retailers and brands involved the better.
The most recent hotel rendering show the apartment tower being all glass, but some of the recent over-all images seemed to show partial brick.
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Anybody else a little disappointed that some of the most prime real estate in downtown has an 8 and 12 story building proposed? I know the hotel market is a little saturated and the office market is weak but still.
Love the 30 story residential building though.
Love the 30 story residential building though.
Hopefully if there's success here, could see more in phase 3 that might be taller. It'll be another 20 years, but, you know.cardinalstl wrote: ↑Oct 05, 2017Anybody else a little disappointed that some of the most prime real estate in downtown has an 8 and 12 story building proposed? I know the hotel market is a little saturated and the office market is weak but still.
Love the 30 story residential building though.
I know I'm just going to get yelled at again but no, 8 & 12 story buildings are perfect. It's what the market needs right now and they're good for cities. There's plenty of land downtown for more skyscrapers, don't worry.cardinalstl wrote: ↑Oct 05, 2017Anybody else a little disappointed that some of the most prime real estate in downtown has an 8 and 12 story building proposed? I know the hotel market is a little saturated and the office market is weak but still.
Love the 30 story residential building though.