In a February exchange I had with Matt Masiel, he said that they would most likely start in the Fall but that the Government Shut Down slowed them down on the tax credit part. I'll message him again soon to see if anything new pops up.
Interestingly, the property is still listed for sale on Hilliker's website: https://hillikercorp.com/item/1801-1815 ... uis-63103/
Either the property listing is outdated, or it hasn't been closed on yet due to the pending tax credit financing component.
Either the property listing is outdated, or it hasn't been closed on yet due to the pending tax credit financing component.
I noticed the other day that the "for sale" sign outside the building has a "sold" placard placed over it.
Per Matt Masiel - "We are still working through final loan approval and construction costs. Should be starting construction early spring."
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Is the name of this project actually going to be Tire Mart Apartments?
That would be a refreshing alternative from the long line-up of ultra-innocuous/meaningless names developers come up with: Solire, Tribeca, The Standard, Cortona on the Park, Ceylon, The Orion, etc....
The attempt to rebrand the Chemical Building as The Alexa was particularly egregious.
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No idea on the name but when I talked to Matt in 2018 about it he said the design is going to be car themedwabash wrote: ↑Apr 27, 2020Is the name of this project actually going to be Tire Mart Apartments?
That would be a refreshing alternative from the long line-up of ultra-innocuous/meaningless names developers come up with: Solire, Tribeca, The Standard, Cortona on the Park, Ceylon, The Orion, etc....
The attempt to rebrand the Chemical Building as The Alexa was particularly egregious.
The project has been given the name "Lofts at the HUPP". The Construction Forum article describes the history behind the name. Opening July 2021.
Construction Forum Write-up
https://www.constructforstl.org/pinnacl ... -the-hupp/
Facebook Page (with project photos)
https://www.facebook.com/LoftsatheHUPP
Construction Forum Write-up
https://www.constructforstl.org/pinnacl ... -the-hupp/
Facebook Page (with project photos)
https://www.facebook.com/LoftsatheHUPP
Matt and his Screaming Eagle development featured in Biz Journal on line article. Behind paywall if anyone can share any updates and or tidbits to add on tag line of $40.5 million in city projects
https://www.bizjournals.com/stlouis/new ... pment.html
https://www.bizjournals.com/stlouis/new ... pment.html
Mentions the redevelopment of the Board of Elections building. Construction financing should close in the next 4 weeks and apartments will be ready by July 2021 for that, which is known as Front Page Lofts.dredger wrote:Matt and his Screaming Eagle development featured in Biz Journal on line article. Behind paywall if anyone can share any updates and or tidbits to add on tag line of $40.5 million in city projects
https://www.bizjournals.com/stlouis/new ... pment.html
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Fine you uncultured bums.....
St. Louis-based Screaming Eagle Development is set to start site work this week at its latest city project, the $18.5 million transformation of 300 N. Tucker Blvd. into the Front Page Lofts.
The commercial real estate firm is planning to redevelop the 120,000-square-foot, former Post-Dispatch building (the newspaper occupied the building for the first half of the 20th century before moving north) into a mixed-use building with office space on the first four floors and apartments on the top four. The 51 apartments will be divided among 15 two-bedrooms and 36 one-bedrooms priced from $1,150 to $1,700 a month. Office tenants will include the city's Board of Elections, the building's current tenant, as well as an undisclosed law firm and Screaming Eagle's own office, said owner Matthew Masiel.
He expects to close on construction financing in the next four weeks and complete the renovations in July 2021 in time for Saint Louis University's law students to begin the fall semester. Midwest Regional Bank is the lender on the project.
Downtown St. Louis' office market has struggled recently. Its office vacancy rate is 19.6%, higher than the region's average of 11.6%, according to the latest data from CBRE. But despite the soft market, Masiel said the project's value goes beyond office space.
"If we can bring investment to downtown, it can only help," he said. "It may be taking a little bit of a risk on that front, but helping the city is a worthwhile endeavor."
When Masiel's firm acquired the property in 2017 for about $3.5 million, Saint Louis University's School of Law was the biggest neighborhood anchor just one block south. Now, with financial services firm Square set to move in a few blocks north and the advent of geospatial companies at nearby Globe and T-REX buildings, as well as the National Geospatial-Intelligence Agency's new western headquarters a few miles north, his investment at 300 N. Tucker Blvd. is coming at an opportune time.
"We thought it was an opportunity to bring new product to the market that would be of interest to SLU Law," Masiel said. "The opportunity of young professionals will be a good target for us."
It's not Masiel's only fortuitous investment.
Screaming Eagle had 1815 Locust St., the 115,000-square-foot former Tire Mart warehouse, under contract for several years before closing in 2019 for $3.2 million with Gershman Investment Corp. as the lender. In the two years it took Masiel to finalize financing at the site for The Lofts at the HUPP (named after the Hupmobiles manufactured there during the early 1900s), plans solidified for St. Louis' first MLS stadium. The 70 apartments slated for the Downtown West building, expected to open this summer, will now have approaching views of the soccer stadium that will be two blocks away when it is completed in 2023.
Masiel said the MLS project prompted higher-end finishes such as skylights and granite countertops at the $22 million apartments "that we may or may not have done without the stadium."
"We try to find good buildings and make a plan that works within our financial model. If it makes sense, we'll make a run out of it," he said. "We've gotten fortunate" with the timing of each project.
For both the Front Page Lofts and the Lofts at the HUPP, Screaming Eagle has tapped Pinnacle Contracting as the general contractor and Vince Ebersoldt of Ebersoldt + Associates as architect.
St. Louis-based Screaming Eagle Development is set to start site work this week at its latest city project, the $18.5 million transformation of 300 N. Tucker Blvd. into the Front Page Lofts.
The commercial real estate firm is planning to redevelop the 120,000-square-foot, former Post-Dispatch building (the newspaper occupied the building for the first half of the 20th century before moving north) into a mixed-use building with office space on the first four floors and apartments on the top four. The 51 apartments will be divided among 15 two-bedrooms and 36 one-bedrooms priced from $1,150 to $1,700 a month. Office tenants will include the city's Board of Elections, the building's current tenant, as well as an undisclosed law firm and Screaming Eagle's own office, said owner Matthew Masiel.
He expects to close on construction financing in the next four weeks and complete the renovations in July 2021 in time for Saint Louis University's law students to begin the fall semester. Midwest Regional Bank is the lender on the project.
Downtown St. Louis' office market has struggled recently. Its office vacancy rate is 19.6%, higher than the region's average of 11.6%, according to the latest data from CBRE. But despite the soft market, Masiel said the project's value goes beyond office space.
"If we can bring investment to downtown, it can only help," he said. "It may be taking a little bit of a risk on that front, but helping the city is a worthwhile endeavor."
When Masiel's firm acquired the property in 2017 for about $3.5 million, Saint Louis University's School of Law was the biggest neighborhood anchor just one block south. Now, with financial services firm Square set to move in a few blocks north and the advent of geospatial companies at nearby Globe and T-REX buildings, as well as the National Geospatial-Intelligence Agency's new western headquarters a few miles north, his investment at 300 N. Tucker Blvd. is coming at an opportune time.
"We thought it was an opportunity to bring new product to the market that would be of interest to SLU Law," Masiel said. "The opportunity of young professionals will be a good target for us."
It's not Masiel's only fortuitous investment.
Screaming Eagle had 1815 Locust St., the 115,000-square-foot former Tire Mart warehouse, under contract for several years before closing in 2019 for $3.2 million with Gershman Investment Corp. as the lender. In the two years it took Masiel to finalize financing at the site for The Lofts at the HUPP (named after the Hupmobiles manufactured there during the early 1900s), plans solidified for St. Louis' first MLS stadium. The 70 apartments slated for the Downtown West building, expected to open this summer, will now have approaching views of the soccer stadium that will be two blocks away when it is completed in 2023.
Masiel said the MLS project prompted higher-end finishes such as skylights and granite countertops at the $22 million apartments "that we may or may not have done without the stadium."
"We try to find good buildings and make a plan that works within our financial model. If it makes sense, we'll make a run out of it," he said. "We've gotten fortunate" with the timing of each project.
For both the Front Page Lofts and the Lofts at the HUPP, Screaming Eagle has tapped Pinnacle Contracting as the general contractor and Vince Ebersoldt of Ebersoldt + Associates as architect.
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Hopefully somebody will take this as an opportunity to do something about the attached abandoned garage to the north. Definitely one of the most egregious structures in downtown.
^ It's probably harder to demo a parking garage downtown than a usable, historic building.
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I believe that garage will stay as is for a while. its in the courts last i heard
I fear for the block to the north that has a few remaining CITY buildings.
In case you want to follow Screaming Eagle's development: https://www.instagram.com/screaming_eagle_development/
Some great photos of Lyon School in Carondelet
Some great photos of Lyon School in Carondelet
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^They have a Facebook page too. With even more pictures. Seems Lyon School is nearly done. 
I didn't see this information stated in any of the press releases, but does anyone know if the first floor is going to be retail/office? Or is it more likely just to be the parking for the units above?
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It’s going to be the garage, they are digging an entrance on the eastern side of the building, so it will be a down ramp like at Monogram