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PostFeb 27, 2019#476

There is a NextSTL story from February of '17 announcing the signing of Zara, Patagonia, Reformation and Need Supply by the Foundry. I can't seem to find an official announcement from the Lawrence Group about retail tho.

Stroy: https://nextstl.com/2017/02/city-foundr ... ly-others/
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PostFeb 27, 2019#477

At the end of the article:
*Patagonia has reached out to nextSTL and offered the following statement, “Patagonia does not have plans to open a retail store at the City Foundry development in St. Louis.”

*Zara has also reached out to nextSTL with the following statement, “Please kindly be advised that we are not planning to open Zara in St. Louis.”

We will continue to update this story as more is known.
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PostFeb 27, 2019#478

:oops:
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PostMar 06, 2019#479

GoHarvOrGoHome wrote: ↑
Feb 27, 2019
 The wall is already gone but will be rebuilt in the sae form. According to their Instagram they said there was a problem with the stability of the existing masonry.

This is true. The wall was getting sketchier week by week. Removal was necessary to stop from collapse into the highway.

They are currently in the process of removing the perimeter columns as i'm assuming a solid masonry wall will be rebuilt in similar fashion as to what once was there. This is in the most historically significant portion of the development, i'm sure the NPS demanded it be rebuilt to the same dimensions. New rebar is currently sticking up from the floor level in preparation for the new wall build back.
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PostApr 14, 2019#480

On the Cortex page, I said that the $5 Million building permit is for the parking garage and retail building along Forest Park. The big gap along Forest Park is where a parking garage, retail, and movie theater building will go. Hope this clears stuff up. I was done taking the Cortex thread off topic.
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PostApr 16, 2019#481

Looks like Biz Journals had an update.   Not sure if their is additional details to be had. 

https://www.bizjournals.com/stlouis/new ... s_headline
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PostApr 16, 2019#482

dredger wrote: Looks like Biz Journals had an update.   Not sure if their is additional details to be had. 

https://www.bizjournals.com/stlouis/new ... s_headline
Says that new tenants have been signed on like
  • The Venue @ City Foundry by Butler's Pantry
  • Great Rivers Greenway (Office)
  • Buenos Aires Cafe from Oscar and Ainara Farina. The restaurant will serve traditional items like skirt steak or choripan (sausage) sandwiches as well as 10 varieties of empanadas. (Foodhall)
  • Chela Tapas from Grace Dinsmoor. Chela will offer up interesting combinations like eggplant stuffed with goat cheese and tempura fried, then served with sesame, mint and spicy honey. (Foodhall)
  • City Taco Shack from Sue Wong-Shackelford (owner of Kalbi Taco Shack). Guests will be able to enjoy Asian-Mexican fusion cuisine, like tacos, burritos, rice bowls and Bahn-mi sandwiches, at City Taco Shack. (Foodhall)
  • Murf's Deli from Maher David. Murf's will offer handcrafted sandwiches like the El Cubano with tavern ham, rosemary ham, salami, smoked bacon, baby Swiss cheese and veggies on a fresh-baked hoagie. (Foodhall)
  • Natalie's Cakes and more from Natalie Dubose. This cake shop will serve Dubose's already-famous signature caramel cake as well as velvet, molasses, orange dream and vanilla almond cakes. (Foodhall)
    • [/li]
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PostApr 16, 2019#483

i'm starting to really get worried that this won't have any new retail at all. Can this survive as a giant food hall alone???
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PostApr 16, 2019#484

They're definitely going to want retail. The only non-food tenant that they have, that I know about, is Alamo Drafthouse.

But with SLU, Cortex, the Grove, the Armory offices, and more in the surrounding area, I would like to think that they would get big lunch draws.
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PostApr 16, 2019#485

I mean... maybe I'm wrong, but restaurants have a much longer lead time so that they can build out their kitchen/seating/etc. There's definitely more serious investment in the restaurant biz...

Retail stores can opt in to spaces much quicker - walls/decor that are mostly pre-made. So they might have a few soft agreements, but we probably won't see many obligations for retail until they get closer to finishing. There's much less risk that way for them that way if things stall, etc.

Which is why I'd assume we're seeing an influx of restaurants at first and most likely retail to follow.
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PostApr 16, 2019#486

What kind of retail would work best at the Foundry?

What is Midtown, or St. Louis City in general, missing that it needs?

I hope those are the kinds of questions the developers are asking themselves.
sc4mayor
sc4mayor

PostApr 16, 2019#487

pattimagee wrote: ↑
Apr 16, 2019
 I mean... maybe I'm wrong, but restaurants have a much longer lead time so that they can build out their kitchen/seating/etc. There's definitely more serious investment in the restaurant biz...

Retail stores can opt in to spaces much quicker - walls/decor that are mostly pre-made. So they might have a few soft agreements, but we probably won't see many obligations for retail until they get closer to finishing. There's much less risk that way for them that way if things stall, etc.

Which is why I'd assume we're seeing an influx of restaurants at first and most likely retail to follow.
100% agree with this. With the development not scheduled to open until 2020 now my guess is we'll hear more about retail as we move through 2019. KansasCitian also makes an excellent point, if they can land some good office tenants, the continued growth of Cortex, Armory and other office projects will likely drive some pretty good crowds at lunch time. And as long residential continues to build up in the surrounding area they could probably pull a decent dinner crowd too.
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PostApr 16, 2019#488

chaifetz10 wrote: i'm starting to really get worried that this won't have any new retail at all.  Can this survive as a giant food hall alone???
I'm kinda thinking the other way, food hall with the selective entertainment option for immediate residents is what is making the project happen and offers a key to getting the office and or any additional residential infill off the ground.  Retail is secondary in my mind and icing on the cake.

Essentially, being reading recent articles predicting online shopping might go from 16% up to 25% and that their is an estimated 75,000 brick and mortar store closings expected this coming year.  Another way to put it, I'm skeptical that all the proposed developments will break ground just on the fact that everyone can't be a regional eatery, retail, and entertainment district.   In respect to Foundry, I think it has the advantage of getting underway along with some great connectivity to CORTEX, mid-town and SLU.  
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PostApr 16, 2019#489

I think it's going to be super interesting in the future, because I wouldn't be surprised if a lot of blight makes its way out of American cities and into American suburbs as big box stores shut down. I think that retail that isn't attached to pedestrian-friendly developments will slowly die.

However, I think this development is surrounded by what it needs to survive. In addition to SLU, Cortex, Armory, Midtown, etc., you have the elevated walkway and nearby Metrolink stations. So long as the developers in this area of the city continue to think with pedestrians and bikers in mind, I think it should be around decades from now.
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PostApr 17, 2019#490

Yeah, and I think the Chouteau Greenway will be a big win for the Foundry as well.

Ponce City Market is a good example/comp in Atlanta - their beltway runs right through it and that thing seemed to be a huge success (and it has less institutions surrounding it than Foundry).

Also, the Foundry is going to be a tourist destination. This project will fall outside of the comps of any mall, retail strip, food court, etc. It's going to be very stunning (hopefully) - it will be fairly tough to decide its fate before it opens.
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PostApr 17, 2019#491

I just think this project is going to be really well done, and I don't know that I can see it failing.

I think the central corridor of St. Louis is heating up and becoming more popular. I've said in other threads that I'm bullish on St. Louis' future, and I'm definitely bullish on this area of town.

In addition to the Foundry food hall, we should see some offices pop up in the development. Same goes for Armory and in Cortex and the Grove. Across the street from Foundry, a hotel is being built. SLU is also looking to make a splash with their large development plans.

Fast forward to 2022 and you won't hardly recognize this area of town.

I hope this momentum just keeps going.
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PostApr 17, 2019#492

You and I are in sync. I think the people invested in the area are doing things right and this is going to be a great project.

My company is building in the area for these same reasons.
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PostApr 17, 2019#493

As of right now, this project is no different than Ball Park Village Phase 1.

The Foundry and BPV are going to be fighting for the same regional "tourist" $. (So, a bad use of tax subsidy.) Moreso, with two glorified food courts in the central corridor, you'll hear a sucking sound. That's $$ going from existing central corridor restaurant/entertainment options to The Foundry. Existing places will go under.

This slow-growth region has it's head up its a#s when it comes to what to throw tax $ at. Subsidizing retail, food and entertainment is a poor use of tax $. The central corridor, specifically downtown, needs more jobs, not craft beer bars, movie theaters and BBQ fusion spots.

Now, on the brightside, the mere fact that an eyesore of a property is now attractive looking is great. just wish The Foundry was more commercial/job focused.
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PostApr 17, 2019#494

I'm not too worried about retail in the Foundry simply because the city currently has a serious retail vacuum outside of the small area in the central west end. I don't think it will ever be a mall in the traditional sense of the word but a couple fast fashion stores (IE Forever 21/H&M) fit the demographic of people who will be going to the Foundry. Other than that I can see it filling with trendy destination stores such as Patagonia or an Apple Store.

When you consider the retail space being added across the tracks at Prospect Yards, this is where the city will be shopping in 10 years.

Yes retail is dying quickly but the city has nowhere to shop besides the galleria. ANything here would be low hanging fruit.
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PostApr 17, 2019#495

soulardx wrote: ↑
Apr 17, 2019
 As of right now, this project is no different than Ball Park Village Phase 1.

The Foundry and BPV are going to be fighting for the same regional "tourist" $. (So, a bad use of tax subsidy.) Moreso, with two glorified food courts in the central corridor, you'll hear a sucking sound. That's $$ going from existing central corridor restaurant/entertainment options to The Foundry. Existing places will go under.

This slow-growth region has it's head up its a#s when it comes to what to throw tax $ at. Subsidizing retail, food and entertainment is a poor use of tax $. The central corridor, specifically downtown, needs more jobs, not craft beer bars, movie theaters and BBQ fusion spots.

Now, on the brightside, the mere fact that an eyesore of a property is now attractive looking is great. just wish The Foundry was more commercial/job focused.
I really can't say that I agree with you.

While St. Louis' slow growth is depressing and a major problem, I think that these developments are going to hit the spot. Obviously, incentives aren't preferred, but, with the health of the city and neighborhoods, these developments weren't happening without them.

Ballpark Village is finally... a village. We're seeing an apartment tower and office building go in. If you think the residents and workers will eat at the same 4-6 restaurants every day, I think you're wrong.

Foundry is happening due to the success of Cortex, which claims to only be 1/3rd of what it hopes to eventually be. Foundry plans to add jobs, too. Same with the Armory.

Businesses came first. Then entertainment. I believe residential is on the way. It's been a fight uphill.

Like I said before, I hope the momentum continues. Future residential should turn into more business and entertainment. Which should turn into more residential.

Just keep the ball rolling. And then you won't have to offer incentives.

PostApr 17, 2019#496

GoHarvOrGoHome wrote: ↑
Apr 17, 2019
 I'm not too worried about retail in the Foundry simply because the city currently has a serious retail vacuum outside of the small area in the central west end. I don't think it will ever be a mall in the traditional sense of the word but a couple fast fashion stores (IE Forever 21/H&M) fit the demographic of people who will be going to the Foundry. Other than that I can see it filling with trendy destination stores such as Patagonia or an Apple Store.

When you consider the retail space being added across the tracks at Prospect Yards, this is where the city will be shopping in 10 years.

Yes retail is dying quickly but the city has nowhere to shop besides the galleria. ANything here would be low hanging fruit.
Retail is dying, but like I said above, I think it's going to survive where people walk. Retail will survive in places like New York City, for instance.

I like that Foundry is placing a high importance on this.
sc4mayor
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PostApr 17, 2019#497

^^^^ While I agree with you on the tax subsidy side of things, the idea that a food hall is the exact same thing as Ballpark Village Phase I is a bit ridiculous in my opinion. BPV is almost exclusively corporate/Cordish bars and concepts, in addition to a museum and FSM's studio. If I'm going out searching for local food options (or any food options) BPV is literally the last place on my list, in fact it's not even on the list. I've never even been there outside of going to watch a Cards or a Blues game. And that probably won't change after they open Phase II either (more of South Side guy here over the CBD, tbh). What's bad about the Foundry giving a place for local restaurants to try out new concepts and attempt to grow their business and their reach? At least that money stays here, you can't even remotely say that for BPV.

And for what it's worth the first phase of the Foundry does have office space (107,000sq/ft, and has already locked in 3 tenants) and the second phase of the Foundry will include significantly more office space, or it's planned to for the time being. Including a high-rise next to the elevated lanes of 40 highway that I believe they are already marketing. Add the Armory office development scheduled to open early next year and the nearly 6,000 (and growing) jobs created in Cortex over the last decade and I think this will do well. You also have continued growth of BJC/WU and SLU that will feed into this.

Some other numbers from the leasing documents from City Foundry:
29,385 college students in the "trade area."
193,357 employees within 3 miles.
3,100 new residential units either completed or planned.
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PostApr 17, 2019#498

If you don't like the BPV comp, consider this comp: The Eatery Food Hall Opens in Downtown St. Louis. All local I believe.

https://www.feastmagazine.com/the-feed/ ... 2fa5d.html

Suppose my fundamental point is that there are only so many $$ to go around for central corridor food/entertainment. $$ spent at Foundry won't be spent elsewhere. Almost every $ spent at Alamo Drafthouse is a dollar not spent at the CWE iTap or any other craft beer bar that's close by. Almost every $ spent at the Foundry cinema is a dollar not spent at Moonrise, Chase or the MX Downtown

So, stop using tax $ to pick winners/losers in the restaurant/entertainment space.

As far as office space, I only see the Great Rivers Greenway...which is moving from the Loop. So, again, no net gain for the region. Musical chairs.
sc4mayor
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PostApr 17, 2019#499

^ Yes, a 10,000 square foot food hall with 3 total tenants geared toward an office building downtown is totally the same thing as this. /s
Also, it's only open Monday thru Friday from 10am to 3pm. It's basically a localized cafeteria for the Met Square building lol.

Again, no one is arguing your point about tax incentives.

And in addition to GRG, Orion Genomics and Gateway Blend will be joining them.
https://www.riverfronttimes.com/foodblo ... rcent-full
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PostApr 17, 2019#500

What would you propose St. Louis do to turn itself around and create population growth?

Would you rather the Mogul building rot?

Cortex is creating jobs. The jobs are creating retail and food options. And residential is planned.

St. Louis is battling perception problems. Outsiders perceive it to be dangerous, blighted, dirty, and boring.

I think a musical chairs into the core of the region may be needed before St. Louis gets national attention for a turnaround.

I still believe this is a step in the right direction.
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