That approval only took 23 months.quincunx wrote: ↑May 01, 2021$35.5M building permit issued yesterday.
Looks that way.
No hoist for the bucks yet?
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Chatted with a few of the workers on the side lot of the building and they are beginning next week with the project
Awesome. I love that building and the 21C hotels are a cool concept.chris fuller wrote: ↑May 20, 2021Chatted with a few of the workers on the side lot of the building and they are beginning next week with the project
Heads to LCRA on May 25th for them to discuss the request of the issuance of industrial revenue bonds. Sales tax exemption on construction materials and a personal property tax abatement of 50% for 5 years. Developer says that this is due to the increased project cost and COVID-19 related delays and issues. If approved by the LCRA, the requested industrial revenue bonds go into effect immediately.
LCRA agenda also mentions that construction should start soon and wrap up in Late 2022.
LCRA agenda also mentions that construction should start soon and wrap up in Late 2022.
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^I've been worried this one would be another loss to plague lurch. This is really too neat a building to sit idle for so long. Glad to see some movement.
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I dont understand the hotel people are asking for a 100% tax abatement for 5 years and more yet they are staring construction and will open in 2022?
Well, they haven't actually started construction yet, have they?chris fuller wrote: ↑May 25, 2021I dont understand the hotel people are asking for a 100% tax abatement for 5 years and more yet they are staring construction and will open in 2022?
But anyway, a development company, associated with StanK's in-laws and three of the dozen or so wealthiest people on the planet, asking for additional tax incentives, under the current local political climate... This should be interesting.
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https://www.stltoday.com/business/local ... 59333.htmlST. LOUIS — A city development board has approved up to $92 million in bonds for a new downtown west hotel.
The Land Clearance for Redevelopment Authority signed off on the industrial revenue bonds at its meeting Tuesday for the redevelopment of 1528 Locust Street.
Developer Michael Everett of Denver-based NuovoRE aims to turn the former YMCA building into a 185-room 21c Hotel Museum, a hotel chain known for its combination boutique hotel and contemporary art museums.
With the bond agreement, the city will lease the property to an LLC run by NuovoRE, which will then repay the bonds through its lease payments to the city. NuovoRE can buy the property back from the city once the bonds are repaid. The bonds also allow NuovoRE to take a sales tax exemption on construction materials.
Workers were putting up the exterior construction elevator this morning. Site was fairly busy with other workers too.
What "property" are they talking about here?
"With the bond agreement, the city will lease the property to an LLC run by NuovoRE, which will then repay the bonds through its lease payments to the city. NuovoRE can buy the property back from the city once the bonds are repaid."
"With the bond agreement, the city will lease the property to an LLC run by NuovoRE, which will then repay the bonds through its lease payments to the city. NuovoRE can buy the property back from the city once the bonds are repaid."
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^ the YMCA building, the City will own it as part of a tax incentive scheme or scam
Sounds like a scam in the making.dbInSouthCity wrote: ↑Jun 09, 2021^ the YMCA building, the City will own it as part of a tax incentive scheme or scam
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Parking lot across Locust from this has been fenced off, might be construction parking but didn’t seem to have a gate
Can't Art get his own room?
P-D: Art-centric 21c Museum Hotel starts construction. 'Art is supposed to be lived with'
"The St. Louis version will have 173 rooms, 13,000 square feet of curated exhibit space, a restaurant, café and wellness center that will include a hot tub, spa and the YMCA’s historic lap pool. The building’s old gymnasium and track will remain, but turn into exhibit and event space.
...
The 21c hotel group, part of French hospitality chain Accor S.A., is working on the redevelopment with Denver-based hospitality developer NuovoRE, which bought the building in late 2018. The project is receiving 15 years of tax abatement and up to $92 million in industrial revenue bonds. The bonds will help finance the project, which saw construction prices rise after COVID-19.
Construction, led by St. Louis-based Russell HBD, is slated to wrap up by the end of 2022. Pittsburgh-based architects Perfido Weiskopf Wagstaf + Goettel are working with interior designers from Hufft Projects of Kansas City and New York-based Bill Rooney Studio."
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No mention of the rooftop bar though. I really hope it didn't get nixed in all the cost-cutting...
.
P-D: Art-centric 21c Museum Hotel starts construction. 'Art is supposed to be lived with'
"The St. Louis version will have 173 rooms, 13,000 square feet of curated exhibit space, a restaurant, café and wellness center that will include a hot tub, spa and the YMCA’s historic lap pool. The building’s old gymnasium and track will remain, but turn into exhibit and event space.
...
The 21c hotel group, part of French hospitality chain Accor S.A., is working on the redevelopment with Denver-based hospitality developer NuovoRE, which bought the building in late 2018. The project is receiving 15 years of tax abatement and up to $92 million in industrial revenue bonds. The bonds will help finance the project, which saw construction prices rise after COVID-19.
Construction, led by St. Louis-based Russell HBD, is slated to wrap up by the end of 2022. Pittsburgh-based architects Perfido Weiskopf Wagstaf + Goettel are working with interior designers from Hufft Projects of Kansas City and New York-based Bill Rooney Studio."
No mention of the rooftop bar though. I really hope it didn't get nixed in all the cost-cutting...
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Has this rehab started? Anyone have any updates? I keep forgetting to check or grab a pic when I’m downtown l.
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Sent from my iPhone using Tapatalk
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Been going on for a while, construction worker parking lot is full.
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Very good, thanks! I figured but was surprised no activity on thread since august!
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I'll be on a video shoot at this hotel next week. I'll see if I'm allowed to share any photo/video. Pretty excited to see it.
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Lucky you. I'd love to see how this place has changed. If you get a chance, let us know if the original swimming pool tiles and wooden elevated track are still there. I believe I read they were going to incorporate those elements into the new uses, but not certain. Man, i miss that YMCA location.bwcrow1s wrote: ↑Dec 09, 2021I'll be on a video shoot at this hotel next week. I'll see if I'm allowed to share any photo/video. Pretty excited to see it.
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