Barring any unforeseen circumstances, this project is moving ahead. My team worked with Zoning Staff to fix the measurement issue over the past 3 weeks, and we got the result we wanted.
I'll have more details to share, including an updated site plan, renderings and so on in a couple of weeks. This is the fun part where the concept starts being worked on to become a reality.
Great work Chris! Hopefully, you can get something like this south of Downtown eventually! Keep it up!
Downtown South is a whole different can of worms. Beyond not having the needed time or money for something like that, I'd be dealing with a complex web of multiple property owners, easements from MODOT and the train bridges, Cultural Resources Office Review areas, historic districts, overhead electrical lines, and aging infrastructure. Not to mention the fact the area could have a new Alderman in 14 months. The one benefit about Downtown South is the lack of residents (meaning no NIMBYs). I find it hard to believe that any of the business owners down there would oppose new development that would bring them more customers and make their area safer. I think the easiest thing to do down there right now is establish a Planned Unit Development and 353 Redevelopment area. Set minimums/maximums on housing units, hotel rooms, office space, and retail space and then request help from the City in the form of the issuance of tax abatements (for new buildings) and TIFs (for infrastructure upgrades and replacement).
In some ways, Waterman and Clara is an easier project since all you're dealing with are setback, height, and unit maximum rules along with design rules. There are no overhead power lines we need to watch out for. There are no highway or train bridges. The site was able to be had fairly easily from the current property owner. Property values and rent in the area justify no tax abatement on this property. The only major issue were the NIMBYs but even they were quieter this go around when compared to the last. The public meetings I had with the neighbors likely helped with this since the last go around was plagued, according to them, by a rude presenter who didn't want to hear their concerns, and a general attitude that the rules of the neighborhood didn't apply.
Recent update since I'm sure some of you are interested: the Marigold is presently held up in City Zoning. I haven't gotten a letter or phone call saying this was approved or disapproved, but it's still expected to be administratively approved based on previous discussions had with Zoning staff. It's likely the Zoning-only permit that I applied for in October is causing some issues since the submissions are the basically the same, just with different site plans.
Recent update since I'm sure some of you are interested: the Marigold is presently held up in City Zoning. I haven't gotten a letter or phone call saying this was approved or disapproved, but it's still expected to be administratively approved based on previous discussions had with Zoning staff. It's likely the Zoning-only permit that I applied for in October is causing some issues since the submissions are the basically the same, just with different site plans.
Per the letter I received yesterday, the site plan was partially administratively approved. They got me on a maintenance agreement since the project backs up to the neighboring parking lot with no wiggle room. Will provide additional update soon. I want to get rolling on this one since it's a personal project that's been a joy to work on, it's just taking forever. Beyond that minor issue that I'll deal with, all the ducks are in a row for this one. Inflation has been killer, but there's still no intention to seek an incentive.
Ongoing shakeup with this one, but I'm still confident it'll get through. Recent events have caused the gears to start turning again and required a little bit more work than previously expected to get this one to the finish line.
@tztag@EssTeeEll Well, as people know, I worked at Lux Living. I left last week (I talk about this later).
This project was being spearheaded by me with assistance by Lux Living. They would’ve built it. But with my departure, and a series of constant misunderstandings and different answers, the clock ran out. With me leaving St. Louis in about a month to finish college, I wouldn’t be here to oversee the construction like I intended (quality control). Additionally, inflation of construction materials was making it harder and harder to justify a 54-unit, incentive-free project without raising expected rent to a level not seen in an unamenitized building in the City.
All of these factors led to the plug being pulled on this project. It’s sad to see it go, but I understand that things like this can’t always be winners. I did try though and that’s what matters (I think).
I explored the possibility of doing a condo building here. Units would've been reduced to about 24 units, the parking garage would've shrunk from 55 to 35 spaces, a fitness center would've been introduced along with a small resident lounge. Condos would be premium, but doing market research, I did not see the condos selling for what they needed to in order make the project work financially. Add in the requirement that banks have (that I talked to) that 50% of the condos have to be sold before financing can be secured, and you have an issue on making it work. Although I think this option would be more welcome by neighbors who, throughout the approval process, said that Waterman is primarily a condo street and should remain as such.
If another developer would like to try, just know that you can do everything I did, just you have to get a maintenance agreement on the southern side unless you shrink the building’s dimensions to create a 5ft setback. The site presents a big challenge because of the required, and strict, setback rules on all sides. You’re also limited by density, height, and parking requirements. This is not an easy site by any means. Quite challenging for someone who wanted to get into the development business, but I guess I bit off more than I could chew at this point. So, back to the first step.
Regarding my departure from Lux Living: It was a good learning experience. I learned things that are very valuable for someone my age. I presented new ideas, introduced new architects to the mix, got to communicate with potential future property and project managers and told them to email Vic or Sid if they still wanted to pursue work (unsure if any did), and I made new connections with politicians and city officials in St. Louis and Kansas City. It's about as hands-on as you can get for a junior in college, and that matters a lot to me. Failures with the Engineers, Optimist, Kingshighway and Oakland, and Waterman/Clara (mine but partnered with them) led to me leaving because that would mean my success rate there was 0%. Throw in me not being too comfortable in some situations and not comfortable dealing with such large-scale projects where there's too much to oversee, I voluntarily left last week with some work left unfinished. Whether or not this comes back to bite me, we'll see.
I had, and have, fallbacks, but they're not on the same level as Lux in terms of company size (fewer employees), development pipeline (much more manageable), or focus (more diversified). It'll be good to downsize, learn some other things, and be stronger in the end. I was always criticized by people for working with Lux/Sid and Vic, but I don't regret my time there. I believe that lots of good came out of it (for me at least) but some good came out of it for them too.
No matter where I'll go, 100% effort will always be given to a project I get to work on because, in the end, quality matters and the smaller the project, the better quality it'll be.
^Good luck, Chris. I know it can be hard leaving an employer, but like you said, I think you each brought something to the other. Hopefully you both learned from this, and it sounds like you're doing the important stuff to try to stay on good terms. I wish you luck in the next endeavor.
$12M zoning-only building permit application submitted for 5612 Waterman at Clara by Lux Living. Don't know if anything has changed about the proposal since last fall.
They either got the rear setback letter of support by the neighboring condo association or are intending to go before the Board of Adjustment for a variance.
