I think structured parking is >$20k per space, probably more now with construction cost inflation. Also more for underground.
Here's the discussion from the PB meeting
Just got pricing back for a project we are working on. 33k per spot.quincunx wrote: ↑Jan 03, 2023I think structured parking is >$20k per space, probably more now with construction cost inflation. Also more for underground.
So $600k to put those 18 spaces on Swan in structured form. So maybe a 50% tax abatement for 5 years, since car owners won't pay for it. Assuming $15M appraised value x 0.19 for residential x .085 property tax levy = $121k in property taxes x 50% x 5 years = $600k.
Imagine if they tried to have 1 per unit and not use the lot on Swan = 39 spaces x 33k = $1.3M.
Imagine if they tried to have 1 per unit and not use the lot on Swan = 39 spaces x 33k = $1.3M.
The process has been chaotic – to nobody's fault other than Alderwoman Pihl's. Props to the Development Review Committee for finally getting up and getting work done despite her.STLrainbow wrote: ↑Dec 31, 2022All in all I think this process seemed to work quite well - engagement with/input from the Neighborhood Assn and alder Pihl's Development Review Committee now in place seemed to be productive and both groups were in general support.
Her inability to stay organized and communicate with developers, the review committee, the association and related neighborhood organizations, the City and so many others has thwarted progress and killed projects. The constant indecisiveness and lack of responding results in so many things going back to step one, or a moved goal post.
This isn't an opinion; it's an experience that anybody who has worked with her has gone through.
I hear rhe same things from CWE folks. I wager a lot of their campaign donations will go to Gras.
It got bigger. Huzzah!
Parking ratio went from 0.7 to 0.815. where is the additional parking?
Parking ratio went from 0.7 to 0.815. where is the additional parking?
Per the most recent Park Central committee meeting (I think thats where it was), it sounds like they may obtain (or attempt to obtain) approval to demo the structures prior to obtaining a building permit, without any assurance the project will actually move forward? At least make the developer put some money on the line if so. Boo if that's the case.
At the Dec 18th Preservation Board meeting they voted to withhold preliminary approval. I guess they'll consider again when Grove Properties has financing lined up in August.
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^You know which building? There's a variety of vacant structures fitting the description on the block. (And a couple of occupied buildings, too.) I hope everyone is all right and the damage isn't too serious.
Demo permit application for 4556 Manchester. Is the long stalled project unstalled?
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https://www.bizjournals.com/stlouis/new ... ition.html
I cannot find this specific thread anywhere but 4538 (?) Manchester Ave (the entrance to the grove) on the western side near Kingshighway, is really in bad shape. Is this apartment project dead or we think or going to rise from the dead (four-story, mixed-use building at the site with 71 apartments)?
I cannot find this specific thread anywhere but 4538 (?) Manchester Ave (the entrance to the grove) on the western side near Kingshighway, is really in bad shape. Is this apartment project dead or we think or going to rise from the dead (four-story, mixed-use building at the site with 71 apartments)?