urbanSTL

Debaliviere91 wrote: ↑

Apr 24, 2024

dbInSouthCity wrote:

mullanphy wrote: ↑

Apr 24, 2024

I think you might just be hesitant about accepting a little positive news about Downtown. A 16% increase in visitors downtown from March 2023 (A warmer month with a NCAA MVC basketball tournament, the opening of CityPark, and a large St Patricks Day event) to February 2024 (A colder month without notable large events downtown) seems like good news any way you package it.

The 16% increase only counts a very small part of the downtown CBD and doesn’t include downtown west.  The study was always dumb. We have spending data that shows downtown west way above 2019 and downtown as a whole is at about 99% of 2019.

When you say DT spending is at 99% of 2019 as a whole, does this account for inflation? The average cumulative rate of inflation from 2019 to 2024 is over 22%. So if it’s not adjusted, that would indicate actual instances of spending are still at a little over 75% of where we were at in 2019. That would be your loose correlation to spending indicating changes in traffic.


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stlurbanist wrote: ↑

Apr 24, 2024

^ in that case, unfortunately, spending data might not be a true representation of how downtown is doing since we have no apples to apples comparison as there are lot of new restaurants which didn't exist before pandemic. 

Sorry if you have to repeat yourself but what are the major drivers of spending data? I hope it is not hotels.

dbInSouthCity wrote:

Debaliviere91 wrote: ↑

Apr 24, 2024

dbInSouthCity wrote: The 16% increase only counts a very small part of the downtown CBD and doesn’t include downtown west.  The study was always dumb. We have spending data that shows downtown west way above 2019 and downtown as a whole is at about 99% of 2019.

When you say DT spending is at 99% of 2019 as a whole, does this account for inflation? The average cumulative rate of inflation from 2019 to 2024 is over 22%. So if it’s not adjusted, that would indicate actual instances of spending are still at a little over 75% of where we were at in 2019. That would be your loose correlation to spending indicating changes in traffic.


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Waiting for the state to post Q4 2023 data to compete the year.  STL inflation 2019-2023 was about 19.1.   Biggest drivers on inflation were used cars and housing.  We have no car dealers in downtown nor is housing taxed.
I’ll include the real number too (inflation adjusted) when it comes out

RockChalkSTL wrote: ↑

Apr 24, 2024

More restaurants have opened than closed downtown. That's what he's going to tell you. 

There is real reason for optimism with downtown St. Louis. Let yourself feel it!

Missouri lawmakers on Thursday passed legislation that a preservation official and developer described as key to aiding redevelopment of two of downtown St. Louis' giant vacant buildings, while other priorities for the area failed to advance.
Changes to the state's historic tax credit program passed the House on Thursday after clearing the Senate on May 7, inside a bill that prevents local governments from enforcing a moratorium on evictions unless allowed by state law, a response to rules crafted amid the Covid-19 pandemic.

But the bill, via amendments, also includes changes to the tax credit program. "The legislature understands the significance of the fiscal impact of historic tax credit projects across the state and understands the complexities of historic project conversions and rehabilitations, and this legislation will help toward filling the gap that exists with these projects," said Charles Goldman, whose firm bought the vacant, 44-story AT&T tower in April for $3.6 million.
The legislation makes several changes to the historic tax credit program, according to Jim Farrell, president of Historic Revitalization for Missouri, an industry association addressing the legislative and regulatory aspects of historic rehab projects.
In one change, he said, projects over 1 million square feet — which affects the AT&T tower and the Railway Exchange Building — can collect state historic tax credits over six years rather than one. The effect is that if the projects seek credits in the same year, for example, they won't take up all of the $104 million available to those in non-qualified census tracts. Under the current rules, a $60 million award to both projects, for example, would "really then shut out other projects around the state," Farrell said.
The legislation also sets a deadline for the State Historic Preservation Office to review projects within 60 days. If they don't, Farrell said, the office won't be able to require more work on applications.
"Projects the last several years have been taking anywhere from six months to a year for review," Farrell said. "That resulted in projects costing hundreds of thousands of dollars more through interest rates and gap financing."

And the legislation increases from 25% to 35% the tax credit available to projects for counties outside St. Louis and Kansas City, Farrell said.
He said Sen. Steve Roberts, D-St. Louis, and Rep. Travis Wilson, R-St. Charles, worked on the provisions.

addxb2 wrote: ↑

May 22, 2024

I know it's not what most of us want, but is this enough space to find a parking solution for AT&T?Screenshot 2024-05-21 201203.png

addxb2 wrote: ↑

May 22, 2024

I know it's not what most of us want, but is this enough space to find a parking solution for AT&T?Screenshot 2024-05-21 201203.png

bprop wrote: ↑

May 22, 2024

addxb2 wrote: ↑

May 22, 2024

I know it's not what most of us want, but is this enough space to find a parking solution for AT&T?Screenshot 2024-05-21 201203.png

The giant parking structure on the left is like 95% empty every day. Surely most if not all of the building's parking can be satisfied with it.