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PostFeb 20, 2020#226

As Excitement for City Foundry STL Grows, Its Food Hall Works to Find Its Footing

https://www.google.com/amp/s/www.riverf ... AMP%2bHTML


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sc4mayor
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PostFeb 20, 2020#227

downtown2007 wrote:
Feb 20, 2020
I thought We Work was in Met Square?


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They are.  You can see some pics of their space there in this link from the PD:
https://www.stltoday.com/business/local ... 30fbb.html

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PostFeb 20, 2020#228

downtown2007 wrote:
Feb 20, 2020
I thought We Work was in Met Square?


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2 post up says it is in Met Square. I think there was talk of them opening one in the Armory also.

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PostFeb 21, 2020#229

Miss Shell wrote:
Feb 20, 2020
My company is moving a couple hundred of us to WeWork for a few months, maybe even a year. That should help them out a bit, I'd imagine.

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A couple hundred? Why? 

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PostFeb 24, 2020#230

^ The company is growing. We're moving some people in our offices in Cortex and everyone currently working at a co-working space in CWE. This will consolidate everyone in our division into one office until we're able to move into our new office next year, and the other division will have room to grow in Cortex. (Space is getting tight there.)

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PostFeb 24, 2020#231

Miss Shell wrote:
Feb 24, 2020
^ The company is growing. We're moving some people in our offices in Cortex and everyone currently working at a co-working space in CWE. This will consolidate everyone in our division into one office until we're able to move into our new office next year, and the other division will have room to grow in Cortex. (Space is getting tight there.)
Curious,  sounds like it would fit Square as they get ready to move downtown into their new digs,  In meantime, it would make a lot of sense to have the workers who will be downtown to make use of WeWork in the Met.   Couldn't help having that thought when reading your post.

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PostFeb 24, 2020#232

Yep, I work for Square.

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PostJun 06, 2020#233

More trouble for The Armory:

"Investors sue Green Street over Armory project"

https://www.stltoday.com/business/local ... f5309.html

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PostJun 06, 2020#234

framer wrote:
Jun 06, 2020
More trouble for The Armory:

"Investors sue Green Street over Armory project"

https://www.stltoday.com/business/local ... f5309.html
I assume without an anchor tenant committed its going to be tough and the timing of Covd & work at home didn't help at all..   Also, if they were banking on a possible wework lease.  

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PostJun 06, 2020#235

Banking on a WeWork lease lmao.

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PostJul 06, 2020#236

sc4mayor wrote:
Jul 06, 2020
See the dead Armory project
is it officially dead? didn't they already do a sh*t-ton of rehab work on it?

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PostJul 06, 2020#237

urban_dilettante wrote:
Jul 06, 2020
sc4mayor wrote:
Jul 06, 2020
See the dead Armory project
is it officially dead? didn't they already do a sh*t-ton of rehab work on it?
It has sat awfully quiet form months now. Exterior work is mostly complete except for the holes in the walls where construction equipment could come in and out. The inside isn't anywhere close to being built out. It's just a shell. 

I wouldn't say it's dead though. They lost a tenant (from my understanding) and that complicated the process some. In my opinion, the best thing for them to do right now, with no completion in sight, is to fill in the holes and put lighting on the outside and show it off at night. 

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PostJul 06, 2020#238

With the current lawsuit, I wouldn't expect any movement on this project for the time being.  The last thing a developer would want to do is to continue throwing money into a project that they're being sued over by investors.  That has to get straightened out first.  

https://www.stltoday.com/business/local ... f5309.html

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PostJul 06, 2020#239

^ Well, that blows.  There was a phase 2 and plans to do a walk/bike bridge over 64 to connect it to The Foundry, right?  I agree with Chris, though. Squeeze out the little bit that's left on the exterior for the time being, if possible.

sc4mayor
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PostJul 06, 2020#240

urban_dilettante wrote:
Jul 06, 2020
sc4mayor wrote:
Jul 06, 2020
See the dead Armory project
is it officially dead? didn't they already do a sh*t-ton of rehab work on it?
I probably should have put another qualifier in there as I’m not privy to any info that it’s officially dead. Just based on the recent lawsuit issues, lack of tenant announcements (which were originally scheduled for 2019) and when I got a tour of the Foundry the LG guy I was with said they hadn’t seen any workers there in maybe 5-6 months.

If it’s not dead, it’s on life support.

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PostJul 07, 2020#241

I would say it's more like a medically induced coma.  Once the other complications are removed, they they can focus on bringing it back online to finish a build out then acquire and announce new tenants.

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PostOct 21, 2020#242

Armory transfer from GreenStreet to Envisage Properties out of Minnesota.

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Ek3PpMHWAAAFH5E.jpeg (68.26KiB)

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PostOct 21, 2020#243

Stltoday - Green Street sells controlling stake in Armory property

https://www.stltoday.com/business/local ... 8a426.html

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PostOct 21, 2020#244

^ So good or bad for those on the thread?  I have no clue or even to know what to speculate, whether this a land bank deal for buyer now that the armory itself is stabilized (or that is my assumption on work completed) or a deal that will get project moving forward again. 

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PostOct 21, 2020#245

In my opinion, this is good.  Green Street sold 52% of this project for an influx of cash which should help them clear up the lawsuit against them.  Green Street is still involved in the deal and this allows them to remain behind the drivers wheel.

PostOct 22, 2020#246

Some more details: https://www.bizjournals.com/stlouis/new ... treet.html  

A tenant announcement should be coming by the end of the year.  No hints at who it might be in the article.  Also, Envisage Properties, LLC will knock down their investment to become a minority owner at a later date, and Green Street is still the lead developer.

sc4mayor
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PostOct 23, 2020#247

Green Street has settled the lawsuit with Lazlo and Moyle.
https://www.stltoday.com/business/local ... f7bd5.html

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PostNov 29, 2020#248

Two building permits were applied for totaling $748,360. One is for a fire sprinkler system (November 24th). The other is for interior alterations (November 13th). Both have not yet been issued.

So maybe we could see some movement again here soon.

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PostDec 10, 2020#249

I think you put this into your predictions, @chriss752 :

Rec Hall (formerly known as RECESS), in partnership with Green Street St. Louis, is becoming the lead tenant in the Armory building with a Summer 2021 opening.

More:

And more: https://rec-hall.com/2020/12/armory-dis ... -rec-hall/

Rec Hall, a St. Louis Entertainment Venue, opened their first 50,000 square foot facility in a Green Street owned warehouse building located in The Grove in November 2019. The venue quickly became one of the most talked about recreation venues in the city and created a space for visitors to play corn-hole, bocce ball, ping pong, retro video games, giant jenga, and many more. With an average bill of only $21, Rec Hall became an affordable and attractive entertainment option to people of all ages, races, sexes, and income classes.

“Green Street is honored to be a part of Rec Hall’s success,” said Phil Hulse, Green Street Founder, and CEO. “The creativity and entrepreneurial spirit of their team and business model resonates with our mission to ‘Make More Possible’.”

With just under 10,000 visitors per month shortly after opening and rapidly gaining a fan base ever since, Rec Hall quickly outgrew their limited space and looked to expand their footprint. The Armory building became an opportunity for Rec Hall to provide an initial 80,000 sq. ft. of space for increased visitors and expanded services.

"The visual aesthetics and history of the Armory, its central location near St. Louis University and the new City Foundry Development, along with the size and variety of activities provided, Rec Hall believes this venue will become a central gathering point for a wide demographic of people." said Luke Wade of Rec Hall.
 

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PostDec 10, 2020#250

Wow, an appropriate use of the space.  Having a guaranteed tenant here is a big win.

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