urbanSTL

EssTeeEll wrote: ↑

Nov 06, 2020

Thanks, Chris.  What land is available for Phase 2 besides that dirt patch on bottom of your drone pic?  Is Crescent Electric scheduled to move elsewhere?  I know there's a small lot on the far east side by the interstate.  Is that scheduled to remain a lot?  And I think (I had a few pints...) Twisted Roots told me months ago their building had been purchased, but I can't remember if it was to become part of Foundry (or if I'm misremembering the whole thing ).

Regarding the "dirt patch" and the Foundry parking lot. That entire 4.5 acre parcel between the historic Foundry building and Vandeventer, from Crescent Electric to I-64, is owned by SLU.

SLU bought it in June 2019 from the LLC that is developing Cortex, which bought it from Pace Properties a few years earlier.

Elek.borrelli wrote: ↑

Nov 08, 2020

I'm a big dreamer. Anything is possible if the price is right: the Cortex has one of the strongest office markets in the region, those lots are sandwiched between two major universities, and everything is accessible by public transit. Of course, nothing will even be considered in the next two decades, but it's not entirely out of the question.

Have big hopes as well but I think the fact that the Crawler stalled is the reality of Covid and how things can easily get up ended.   Foundry Phase II does have a great location that will get developed one way or another.  Hopefully some dense office and or residential.   I think their is plenty of room in CORTEX to keep lab space going 

dredger wrote: ↑

Nov 09, 2020

Foundry Phase II does have a great location that will get developed one way or another.  

Where would Phase II go if SLU owns the Vandeventer site? 

And, for nerd stuff, here’s some really techie details including secondary effects https://mandtsystems.com/documents/ASHRAE_R02_39SI.pdf

wabash wrote: ↑

Nov 09, 2020

dredger wrote: ↑

Nov 09, 2020

Foundry Phase II does have a great location that will get developed one way or another.  

Where would Phase II go if SLU owns the Vandeventer site? 

Foundry Partners (FOPA) owns some parcels along Forest Park Ave. east of Spring that they acquired last year, as well as the parking lot east of the historic Foundry building. (Edit: At least they did, now it shows Spring Clark Partners as the owner ). The Veiled Prophet warehouses and lot may be available for the right price as well.

If, or more likely when, someone else with deep pockets ends up taking over City Foundry, they could proceed pretty quickly with a large Chroma or Verve-style residential project there. But it's going to be a few years before the office or retail markets recover enough to consider new development, especially considering the 100,000+ sf of vacant retail space in the Foundry buildings which needs to be filled first.

^I believe Spring Clark Partners is a Lawrence Group entity.  So different legal entity, but same span of control.

Laife Fulk wrote: ↑

Nov 10, 2020

^I believe Spring Clark Partners is a Lawrence Group entity.  So different legal entity, but same span of control.

Yeah, Steve Smith is listed as the officer. Like the LLC that owns the Foundry, it's separate from The Lawrence Group, but I'm sure some of the partners have a stake.

I'm just puzzled because I am pretty sure that FOPA LLC was listed as the owner of those parcels along Forest Park Ave. last year, but there's no other sale or transfer record. It's probably a good thing they aren't owned by the same LLC though now.

Fresh Thyme space was buzzing with contractors yesterday afternoon after being completely dead for months

open the Fresh Thyme ty

pattimagee wrote: ↑

Nov 13, 2020

Thoughts on if that's because of the positive vaccine news and the April/May projections that have been floated around? 

Maybe it changes their risk calculations a bit, but I doubt anyone is going to commit to anything based on what is, at this point, an unknowable vaccine timeline.

Any movement on anchor retail tenant improvements is likely due to some revised understanding and commitments from the developer. I'm sure they are all renegotiating their leases. Nobody is going to be spending millions in tenant improvements until they get firm developer commitments on delivery of the project as a whole, the Food Hall in particular, a revised opening schedule of the other anchor retailers, and remedies for potential delays, lost revenue, increased costs, etc. 

However, they are all mutually dependent on their combined traffic, so it's a question of whether City Foundry can get a couple of retail anchors to jump first, into the unknown, with lease revisions/incentives, while balancing their own and their investors' risk.

Today was the first of two planned days for "Wintermarkt at City Foundry". It was a success. There were, I think, 6 time slots and all were reserved by people. Featured were over 20 local retailers selling items. The next Wintermarkt is December 5th and that is fully reserved too. If coronavirus didn't happen, I could see this being packed with people because the Food Hall and other shops would be open in addition to these pop-up stores.

I do think this will be a successful development if they can keep people excited about it. What will really make it successful is if they can get all the retail spaces filled with shops like what were there today (clothing, jewelry, plants, trinkets, cards, and what not). One pop-up shop that was there today was Patty's Cheesecakes. That business will open in the Food Hall in the Spring and let me tell you, the cookie style cheesecakes she was selling were rich and dense. Finally, and this is repetitive, some color would definetly help this Foundry Way thing out. Having people in it, tents up, and some other minor decorations helped it a little bit, but more color is needed.










Another update: The Alamo Cinema building appears to be mostly complete. The walkway to Forest Park Avenue is open as well.

Thanks for the photos, Chris. Any updates on the grocery store? Still a go? That would be the thing that will get me to the Foundry on a regular basis. I know their prices are pretty high (been to one Fairview Heights, IL), but there are few other option in this part of town to get fresh food. I could use a place to buy clothes too. Outside of Target, it's all online for clothes these days.

MarkGroth2020 wrote: ↑

Nov 29, 2020

Thanks for the photos, Chris. Any updates on the grocery store? Still a go? That would be the thing that will get me to the Foundry on a regular basis. I know their prices are pretty high (been to one Fairview Heights, IL), but there are few other option in this part of town to get fresh food. I could use a place to buy clothes too. Outside of Target, it's all online for clothes these days.

I believe work has started, but just little work, on the Grocery Store. It's early on in the construction process on that though. They removed some bricks facing Forest Park Avenue to get a look at the structure, or at least it seems that way.

For clothing, some stores will probably open here but don't take my word for it. They'll be local stores if they do open here.

chriss752 wrote:

MarkGroth2020 wrote: ↑

Nov 29, 2020

Thanks for the photos, Chris. Any updates on the grocery store? Still a go? That would be the thing that will get me to the Foundry on a regular basis. I know their prices are pretty high (been to one Fairview Heights, IL), but there are few other option in this part of town to get fresh food. I could use a place to buy clothes too. Outside of Target, it's all online for clothes these days.

I believe work has started, but just little work, on the Grocery Store. It's early on in the construction process on that though. They removed some bricks facing Forest Park Avenue to get a look at the structure, or at least it seems that way.

For clothing, some stores will probably open here but don't take my word for it. They'll be local stores if they do open here.

This would be a great spot for St. Louis’ first UNIQLO store.


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^I had to google UNIQLO...that's my kinda price point, and looks good too. Closest ones...Chicago and suburbs of Chicago.

SeattleNative wrote: ↑

Nov 29, 2020

chriss752 wrote:

MarkGroth2020 wrote: ↑

Nov 29, 2020

Thanks for the photos, Chris. Any updates on the grocery store? Still a go? That would be the thing that will get me to the Foundry on a regular basis. I know their prices are pretty high (been to one Fairview Heights, IL), but there are few other option in this part of town to get fresh food. I could use a place to buy clothes too. Outside of Target, it's all online for clothes these days.

I believe work has started, but just little work, on the Grocery Store. It's early on in the construction process on that though. They removed some bricks facing Forest Park Avenue to get a look at the structure, or at least it seems that way.

For clothing, some stores will probably open here but don't take my word for it. They'll be local stores if they do open here.

This would be a great spot for St. Louis’ first UNIQLO store.

While it could be nice to have a UNIQLO store here, I don't think it is appropriate for the Foundry. Foundry should be the place where local shops become a fan-favorite. I fear that a UNIQLO (or Zara or anything else like that at the Foundry) will take business away from local shops.

Now, would I be upset if an UNIQLO opened at the Foundry? No. But I don't see it as being a boost to small businesses.

Apologies if it has been mentioned elsewhere, but what grocery store is opening there?

The grocery is Fresh Thyme.  Also this morning, the Biz Journal just published a story about the Foundry’s $115 million phase 2 groundbreaking next year adding apartments and offices.  

https://www.bizjournals.com/stlouis/new ... unced.html

Hopefully they are leaving the option open for a secondary corridor to the north if they ever buy out the Crescent Electric site

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^Wow! Great news!