urbanSTL

SLDC got $40m
US Bank CDC $65 and enterprise bank $65 or 60. Few other CDCs got the rest

^ Thanks, 

I should have at least put two and two together in that they quoted SLDC director on opening line of article.  I believe US Bank CDC and Enterprise Bank  don't necessarily have to use or not obligated to use their  tax credits for St. Louis projects but would be nice if they have a couple St. Louis projects teed up for the tax credits.

Laife Fulk wrote: ↑

Sep 07, 2021

That’s way over simplifying Chicago’s population growth / trends. While overall population growth in the city of Chicago itself may be slow or actually negative, a lot of people leaving are those who live in the poorest neighborhoods. And demand for higher prices condos and apartments downtown remains strong. Two different housing markets.

Lol this is the exact same thing happening in StL, just a smaller scale

Laife Fulk wrote:That’s way over simplifying Chicago’s population growth / trends. While overall population growth in the city of Chicago itself may be slow or actually negative, a lot of people leaving are those who live in the poorest neighborhoods. And demand for higher prices condos and apartments downtown remains strong. Two different housing markets.

I agree big time! I’m from Chicago and Downtown Lux living high rises are booming and not stopping anytime soon! Population lost is in the far South Side and Southwest side of the city!

Our home in Chicago was bought for $230k and 11 years later is worth $512k. (Logan Square Neighborhood).


Sent from my iPhone using Tapatalk

And yet Chicago has seen the worst home value appreciation of any top 50 metro for like 6 consecutive years.

Again, it’s the same thing just on a smaller scale

Not sure if bizjournal article related to City only or region but none the less crushing it.   So so pic of MLS stadium construction.  They should have reached out to Chris and get one of his drone pics w downtown/arch in background for their file

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

Project delays last year — plus developments from big institutions and multifamily players — mean St. Louis this year could count its most construction and rehab activity dating back to 2000.

The city of St. Louis may be on its way to a banner year for building permits issued, stretching across new construction and rehab activity.

The city in October reported issuing 4,946 permits, worth $1.13 billion, so far in 2021.

Since 2000, only 2018 had a higher total, at $1.2 billion, though that was for the full calendar year. And, adjusted for inflation, 2006 still has a higher total, at $853 million for the full year, worth $1.2 billion in 2021 dollars. The city in 2020 reported issuing 4,720 permits worth $1.04 billion.

The reports mean that "we are optimistic that we are on track to have a record-breaking year," said Nick Dunne, spokesman for St. Louis Mayor Tishaura Jones.

Driving 2021's numbers is a mix of factors, including the delay of projects in the latter half of 2020 due to the pandemic, said Neal Richardson, executive director of the city's development agency, St. Louis Development Corp.

He also said that more than 1,500 multifamily units are under construction, "and investments continue to be made in rehabbing our historic housing stock."

"Large institutional and corporate anchors including Washington University, BJC HealthCare, Saint Louis University Hospital, Ameren Corp., the National Geospatial-Intelligence Agency and Anheuser-Busch have also made significant commitments to improve and expand their St. Louis facilities over the past year," Richardson said.

BJC last month broke ground on construction of a new 16-story inpatient hospital tower at Barnes-Jewish Hospital, the latest phase in the $1 billion renewal of its medical campus. SSM Health in June said it would build a $25 million ambulatory surgery center on its SLU Hospital campus in Midtown, which was completed in 2020. Ameren in September opened a $20 million operations center in north city. The NGA this year continued to build its $1.7 billion western headquarters in north city, with its steel structure taking shape in July. And Anheuser-Busch in March said it would spend $100 million for a grain repurposing facility on its St. Louis brewery campus.

So far this year, the Central West End is leading for development activity among all city neighborhoods, with permits issued worth $374 million.

dbInSouthCity wrote: ↑

Nov 05, 2021

The city of St. Louis may be on its way to a banner year for building permits issued, stretching across new construction and rehab activity.

The city in October reported issuing 4,946 permits, worth $1.13 billion, so far in 2021.

Since 2000, only 2018 had a higher total, at $1.2 billion, though that was for the full calendar year. And, adjusted for inflation, 2006 still has a higher total, at $853 million for the full year, worth $1.2 billion in 2021 dollars. The city in 2020 reported issuing 4,720 permits worth $1.04 billion.

The reports mean that "we are optimistic that we are on track to have a record-breaking year," said Nick Dunne, spokesman for St. Louis Mayor Tishaura Jones.

Driving 2021's numbers is a mix of factors, including the delay of projects in the latter half of 2020 due to the pandemic, said Neal Richardson, executive director of the city's development agency, St. Louis Development Corp.

He also said that more than 1,500 multifamily units are under construction, "and investments continue to be made in rehabbing our historic housing stock."

"Large institutional and corporate anchors including Washington University, BJC HealthCare, Saint Louis University Hospital, Ameren Corp., the National Geospatial-Intelligence Agency and Anheuser-Busch have also made significant commitments to improve and expand their St. Louis facilities over the past year," Richardson said.

BJC last month broke ground on construction of a new 16-story inpatient hospital tower at Barnes-Jewish Hospital, the latest phase in the $1 billion renewal of its medical campus. SSM Health in June said it would build a $25 million ambulatory surgery center on its SLU Hospital campus in Midtown, which was completed in 2020. Ameren in September opened a $20 million operations center in north city. The NGA this year continued to build its $1.7 billion western headquarters in north city, with its steel structure taking shape in July. And Anheuser-Busch in March said it would spend $100 million for a grain repurposing facility on its St. Louis brewery campus.

So far this year, the Central West End is leading for development activity among all city neighborhoods, with permits issued worth $374 million.

While the top line investment is fantastic, construction construction costs are up around 50 percent since 2019, not sure the actual construction/development output is anywhere near Pre-Covid levels.

kbshapiro wrote: ↑

Nov 05, 2021

dbInSouthCity wrote: ↑

Nov 05, 2021

The city of St. Louis may be on its way to a banner year for building permits issued, stretching across new construction and rehab activity.

The city in October reported issuing 4,946 permits, worth $1.13 billion, so far in 2021.

Since 2000, only 2018 had a higher total, at $1.2 billion, though that was for the full calendar year. And, adjusted for inflation, 2006 still has a higher total, at $853 million for the full year, worth $1.2 billion in 2021 dollars. The city in 2020 reported issuing 4,720 permits worth $1.04 billion.

The reports mean that "we are optimistic that we are on track to have a record-breaking year," said Nick Dunne, spokesman for St. Louis Mayor Tishaura Jones.

Driving 2021's numbers is a mix of factors, including the delay of projects in the latter half of 2020 due to the pandemic, said Neal Richardson, executive director of the city's development agency, St. Louis Development Corp.

He also said that more than 1,500 multifamily units are under construction, "and investments continue to be made in rehabbing our historic housing stock."

"Large institutional and corporate anchors including Washington University, BJC HealthCare, Saint Louis University Hospital, Ameren Corp., the National Geospatial-Intelligence Agency and Anheuser-Busch have also made significant commitments to improve and expand their St. Louis facilities over the past year," Richardson said.

BJC last month broke ground on construction of a new 16-story inpatient hospital tower at Barnes-Jewish Hospital, the latest phase in the $1 billion renewal of its medical campus. SSM Health in June said it would build a $25 million ambulatory surgery center on its SLU Hospital campus in Midtown, which was completed in 2020. Ameren in September opened a $20 million operations center in north city. The NGA this year continued to build its $1.7 billion western headquarters in north city, with its steel structure taking shape in July. And Anheuser-Busch in March said it would spend $100 million for a grain repurposing facility on its St. Louis brewery campus.

So far this year, the Central West End is leading for development activity among all city neighborhoods, with permits issued worth $374 million.

While the top line investment is fantastic, construction construction costs are up around 50 percent since 2019, not sure the actual construction/development output is anywhere near Pre-Covid levels.

Well a total of 5,021 permits have been applied for year to date in 2021 and in 2019 for entire 12 months it was 5450.  So even in permit total we will surpass 2019 and the average for the last decade.

And I don’t think construction costs are up 50%. Most I’ve seen is 12-20% depending on what we’re talking about ie labor or lumber or other material and it august for home builders the overall cost finally saw its first decrease by 1%, not a lot but it stopped the upward pressure

^^ You have two other matrixes between reported in number of permits and dwelling units which are straight up counts and I don't think are really too far off from pre pandemic.   On permits issued you are looking at 4946 issued over 10 months and i think the max is roughly 5200 over the last five years  if you go to the summary that Qunicunx put together a page or two in thread prior.   Give it two more months and the number of permits issued will be like 90ish percent.   I think it is understatement to say anywhere pre covid levels.  the value might bump up from costs but really not too far off are meeting numbers. 

What dblnsouthcity said 

I was in St. Louis last week for a funeral. Haven't been to the city in a couple years. The amount of development and change in the city was mind boggling. I've never seen this much development in the city in my lifetime.

It’s about 50 percent. I see development budgets of the same buildings from 19 to this year.

dbInSouthCity wrote: ↑

Nov 05, 2021

kbshapiro wrote: ↑

Nov 05, 2021

dbInSouthCity wrote: ↑

Nov 05, 2021

The city of St. Louis may be on its way to a banner year for building permits issued, stretching across new construction and rehab activity.

The city in October reported issuing 4,946 permits, worth $1.13 billion, so far in 2021.

Since 2000, only 2018 had a higher total, at $1.2 billion, though that was for the full calendar year. And, adjusted for inflation, 2006 still has a higher total, at $853 million for the full year, worth $1.2 billion in 2021 dollars. The city in 2020 reported issuing 4,720 permits worth $1.04 billion.

The reports mean that "we are optimistic that we are on track to have a record-breaking year," said Nick Dunne, spokesman for St. Louis Mayor Tishaura Jones.

Driving 2021's numbers is a mix of factors, including the delay of projects in the latter half of 2020 due to the pandemic, said Neal Richardson, executive director of the city's development agency, St. Louis Development Corp.

He also said that more than 1,500 multifamily units are under construction, "and investments continue to be made in rehabbing our historic housing stock."

"Large institutional and corporate anchors including Washington University, BJC HealthCare, Saint Louis University Hospital, Ameren Corp., the National Geospatial-Intelligence Agency and Anheuser-Busch have also made significant commitments to improve and expand their St. Louis facilities over the past year," Richardson said.

BJC last month broke ground on construction of a new 16-story inpatient hospital tower at Barnes-Jewish Hospital, the latest phase in the $1 billion renewal of its medical campus. SSM Health in June said it would build a $25 million ambulatory surgery center on its SLU Hospital campus in Midtown, which was completed in 2020. Ameren in September opened a $20 million operations center in north city. The NGA this year continued to build its $1.7 billion western headquarters in north city, with its steel structure taking shape in July. And Anheuser-Busch in March said it would spend $100 million for a grain repurposing facility on its St. Louis brewery campus.

So far this year, the Central West End is leading for development activity among all city neighborhoods, with permits issued worth $374 million.

While the top line investment is fantastic, construction construction costs are up around 50 percent since 2019, not sure the actual construction/development output is anywhere near Pre-Covid levels.

Well a total of 5,021 permits have been applied for year to date in 2021 and in 2019 for entire 12 months it was 5450.  So even in permit total we will surpass 2019 and the average for the last decade.

And I don’t think construction costs are up 50%. Most I’ve seen is 12-20% depending on what we’re talking about ie labor or lumber or other material and it august for home builders the overall cost finally saw its first decrease by 1%, not a lot but it stopped the upward pressure

I do a lot of cost estimating for DoD facility projects and I’m not seeing anything near 50%.

Glad to here the Federal government is not affected by labor, supply and development costs like the real world is.

kbshapiro wrote: ↑

Nov 05, 2021

Glad to here the Federal government is not affected by labor, supply and development costs like the real world is.

Federal gov doesn’t build anything itself, heck it doesn’t even do the cost estimating. It’s still goes to bid to the private sector

I wish goat was able to come back under better circumstances, but what he said.  Sometimes I think the negative nellies don't get out much, but the level of development recently completed and underway is pretty impressive.

dbInSouthCity wrote: ↑

Nov 05, 2021

kbshapiro wrote: ↑

Nov 05, 2021

Glad to here the Federal government is not affected by labor, supply and development costs like the real world is.

Federal gov doesn’t build anything itself, heck it doesn’t even do the cost estimating. It’s still goes to bid to the private sector

Ok, understand that. But if you think the DOD is getting the same bids as everyone else, I believe you’re mistaken. Again, I’ve seen Dev budgets for the exact same retail or restaurant building/prototype in 2019 versus 2021 and it’s between 40-50 percent higher.

^ Yep,  good comment and have had same thoughts as goat when ever I make trips back to St Louis and into the city itself.  Especially with step daughter living in CWE off Maryland Ave.   

As someone whose career is based on cost estimating, budgeting, bidding and tracking cost to completes on ongoing work their is a lot of truths in costs and logistic impacts.  Yes, govt entities have taken the approach of denial from what i have seen when either seeking request for equitable adjustments or even empathy on delays caused by bottlenecks..   I would also say it is stretch to say all projects have been impacted by 50% or more at same time but can definitely see projects with high material costs having big impacts where as our projects with more labor & fuel driven costs have not seen that drastic of a number.. especially with our signatory union agreements spanning 3 to 5 years.   As far as Federal; our private dredges work along Government owned, operated working dredges for a piece of the pie (our lobbying group is fighting hard to have Corps of Engineers scrapped their plans to build a new govt owned and operated dredge) and every project we bid on has a government estimator compiling an independent government estimate that is also submitted under a sealed envelope at time of bid.  Any owner of size and means are going to do their due diligence.    

STLrainbow wrote: ↑

Nov 05, 2021

I wish goat was able to come back under better circumstances, but what he said.  Sometimes I think the negative nellies don't get out much, but the level of development recently completed and underway is pretty impressive.

Thank you. Not to mention that the city was a lot more vibrant than I'd remembered it to be. A lot more traffic (pedestrian and vehicular). It seemed more vibrant and busy than Tampa in many areas and this place is a freaking boomtown right now. Interesting enough my family there couldn't tell the difference, because many of them are very negative about the city in general and rarely visit the core anymore. Sometimes coming back to a city every couple years really does change your perspective. The biggest issues I saw were poor infrastructure and a general feeling of lawlessness though. If St. Louis could get those together, no reason it couldn't do more. My friend came down from Chicgao and was impressed as well. He's been to St. Louis a few times and commented he didn't remember it being that busy.

I just redid estimates on some single-family homes, both new construction and historic renovation. The original estimates were done in mid-2018, and in March of 2020. Budgets are up 40-50% on all of them. Just depends what you are doing. Framing lumber has fallen back down out of the stratosphere, but sheet goods like engineered sub-floors and plywood are still high priced. Anything with MEP is much more expensive, and HVAC has almost doubled in some cases if you can even get the furnaces. Hardscape materials are at most up 5%, but windows are substantially more expensive, and you will wait months without an estimated production date to get anything of quality. Siding hasn't changed much in price, but be prepared to wait if you want anything of higher quality like pre-finished LP Smartside.

As was mentioned already, anything that is material intensive is going to be hit harder than projects that are more heavy on labor. Something like tuckpointing a house is not going to be much more than it was in 2019 because it is almost all labor and equipment. Mortar materials are cheap. Building or renovating one or a few houses is also going to be more expensive than a production builder can do building the same three models over and over because the volume savings are not there.

^I'm strangely okay with material costs going up but labor costs staying about the same. It makes preservation more cost competitive with new construction, which sounds like a winner to me. We've wasted so much material on cheap, shoddy buildings over the years. And cheap shoddy infrastructure. And we've lost so much good structure because the labor costs to fix it were too high. Sure, this means everything gets more expensive for us . . . but maybe that's the way it should be.

(Says a musician who is bollocks at fixing his own house and can't seem to find the contractors to fix the stuff as needs fixing.)

All time high!