Sigh.
$19.7M building permit application submitted for a parking garage at 1900 Olive.
$19.7M building permit application submitted for a parking garage at 1900 Olive.
How does someone spending $20M on parking ever recoup that with 17 soccer games/year?
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At $20,000,000 it seems like it will be a 1250 or so spot garage if it’s pre cast. 1250 spots turned over at about 50 times a year on average and at $25 = $1.56m a year before you paying 2-3 people to work at the garage. So 20 years? And these last 35-40
Maybe, hopefully, there is significant retail portion along Olive that adds to the construction costs and decreases the number of spaces.dbInSouthCity wrote: ↑Jul 17, 2021At $20,000,000 it seems like it will be a 1250 or so spot garage if it’s pre cast. 1250 spots turned over at about 50 times a year on average and at $25 = $1.56m a year before you paying 2-3 people to work at the garage. So 20 years? And these last 35-40eee123 wrote: ↑Jul 17, 2021How does someone spending $20M on parking ever recoup that with 17 soccer games/year?
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City should ask for 2 things- to make this not look like a concrete wasteland that garages do, get creative with the outer walls and that the first floor facing Olive be commercial . Bars/restaurants would kill it there, especially with union station across the street and being constantly packed and having 2-3 hour wait to eat
Does the $20 million include the rooftop D-Lux QuikTrip, or will that be a separate permit?
^I always new I was a sage.
Also don't forget the 1% TDD. I'm sure that will go to offset the cost, yes?
I'm almost tired of caring about this BS anymore.
Is this going to contribute to the tax rolls at least? There is no tax abatement, correct?
Also don't forget the 1% TDD. I'm sure that will go to offset the cost, yes?
I'm almost tired of caring about this BS anymore.
Is this going to contribute to the tax rolls at least? There is no tax abatement, correct?
The lot there on the same block is $2 all day (up from $1.25 in 2018 per streetview). Even Blues parking on that block is pocket change. I just don't get how there's any demand enough to pay for that outside of 17 MLS games.dbInSouthCity wrote: ↑Jul 17, 2021At $20,000,000 it seems like it will be a 1250 or so spot garage if it’s pre cast. 1250 spots turned over at about 50 times a year on average and at $25 = $1.56m a year before you paying 2-3 people to work at the garage. So 20 years? And these last 35-40eee123 wrote: ↑Jul 17, 2021How does someone spending $20M on parking ever recoup that with 17 soccer games/year?
But then again I don't comprehend how our other downtown tear-down turned parking at MLK and 14th makes fiscal sense, either, in the land of ample $1 parking.
I'm not an economist, but at some point when the price of parking is nearly free, maybe we shouldn't add more parking. It'll remain nearly free at that area for all but a few hours per year, but somehow this justifices a hulking, urine-scented garage.
Ground floor retail + some number of apartments on top floors would be a slam dunk to accompany this garage. But for a price tag of $20 million, there's no chance of both of those things happening. Can they at least make it look interesting? Kind of a low bar, but the train has left the station.
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Just curious, what is the typical cost for a standard massive garage like this? I have no idea personally. Are you implying that $20m isn’t actually that high of a $ amount and would need to be much higher to include features other than simple parking?EssTeeEll wrote: ↑Jul 19, 2021Ground floor retail + some number of apartments on top floors would be a slam dunk to accompany this garage. But for a price tag of $20 million, there's no chance of both of those things happening. Can they at least make it look interesting? Kind of a low bar, but the train has left the station.
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Garages cost between $17,000-22,000 per spot, depending if its a pre cast garage (panels brought from else where and assembled, which is cheaper) or cast in place at the site (higher end) So that's why i said this garage is probably going to be over 1000 spots.SouthCityJR wrote: ↑Jul 19, 2021Just curious, what is the typical cost for a standard massive garage like this? I have no idea personally. Are you implying that $20m isn’t actually that high of a $ amount and would need to be much higher to include features other than simple parking?EssTeeEll wrote: ↑Jul 19, 2021Ground floor retail + some number of apartments on top floors would be a slam dunk to accompany this garage. But for a price tag of $20 million, there's no chance of both of those things happening. Can they at least make it look interesting? Kind of a low bar, but the train has left the station.
Wash U paid close to $30,000 per spot for theirs but because it was built with an intention of possibly using it as commercial space later.
Also keep in mind that building permit amount does not equal project cost.
At the very least, a donut shop on the Olive Street side seems like a no-brainer...EssTeeEll wrote: ↑Jul 19, 2021Ground floor retail + some number of apartments on top floors would be a slam dunk to accompany this garage. But for a price tag of $20 million, there's no chance of both of those things happening. Can they at least make it look interesting? Kind of a low bar, but the train has left the station.
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^If you say it looks like a Chipperfield does that make it sexy? That may be the most boring garage I've ever seen that actually had a screen to try to make it less boring. It's not terrible . . . but it's also not special. About on par with the rest of the garages downtown, I suppose. Looks almost as nice as the ones on Chestnut, though at least they have ground floor retail. (And a more interesting screen.)
No ground floor retail via Chris. So stupid to have a garage with no retail in a prime spot by the stadium like that. I’m pretty pissed about it. So much for a “district”. Retail facing the stadium should have been there at minimum.
But according to one of the slides the garage "encourages walking", "encourages alternatives modes of transportation", "provides access to transit", offers "connection to surroundings", and is "solar ready."
The BS is absolutely off the charts.
This is a big miss and future detriment to the neighborhood.
The BS is absolutely off the charts.
This is a big miss and future detriment to the neighborhood.
Parking and urinating. There's your two uses.
Jesus Christ. I was really hoping the garage would have at least been built with the ability to put something on top, bare minimum some ground floor retail. But neither? Huge f*cking miss.