Rent per square foot is not a good metric between the two for comparison. Victor 1 bedroom units, for example, are 250 square feet to 700 square feet larger. There is a diminishing per square foot value for 1 bedroom units that are larger than 650 square feet or so. At a quick glance, the two bedrooms seem to have the same spread. If you forget the subtle nuanced differences between downtown and downtown west Jefferson Arms has a better chance at efficiently leasing up because of its size. 235 units compared to the Victors 384. Also, Downtown West is still pretty isolated from the neighborhood amenities that people seek in this type of built environment (restaurants, bars, other walkable amenities outside their front door). Evidenced by the slower absorption rate that AHM and The Victor are having in their Downtown West buildings compared to Alex's success on Washington Avenue.dbInSouthCity wrote: ↑Aug 03, 2025It will take them 18-24 months to get to just 70% unless they get under $2.50
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The unit layouts are also incomparable. The deep floorplates of the Victor, being a former factory conversion, are not well suited for residential, thus a majority of the units have bedrooms without windows. While this is up to code courtesy of modern fresh air mechanical systems, this is far from appealing from a livability/ marketing standpoint. This is most likely another reason why it has struggled leasing. The above Jefferson Arms floorplans are efficient, feature unique architectural characteristics such as the bay windows, as well as high end finishes. The only issue that they might face is the lack of a pool. Besides this, I don't foresee it having any issues with lease up.
P.S. I work for a real estate developer where we target $4.50 / SF for one bedroom units.
P.S. I work for a real estate developer where we target $4.50 / SF for one bedroom units.
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I had several downtown lofts with the no window bedroom. It’s fine. Could actually sleep in and like a rock.
Stl PR - Jefferson Arms developer’s plan for three taxing districts paused at St. Louis Port meeting
https://www.stlpr.org/economy-business/ ... rt-meeting
https://www.stlpr.org/economy-business/ ... rt-meeting
Downtown Chicago has something like 17% for hotels. I don't know why this is such a wowzer. Alterra is trying to bring 5+ retail businesses together in one building downtown. Approve it.
Are these for sure though? Like 100% there will be 5+ businesses in this building or is that just how much space there will be?
It seems like Alterra will be running these businesses themselves, so it seems like a for sure thing they at least open. Anyone's guess at success after that, but I would certainly hope they stay in operation.
The building is a long way from being completed. I don't see how they could possibly move people in this year. The place is quite the disaster and construction seems to be stalled.
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My guess is spring 2026.
The hotel would generally be taking booking 3 months out before opening.
The hotel would generally be taking booking 3 months out before opening.
Jeff Arms building Instagram account inactive since July 15.
The Jeff arms residences account inactive since August 8
The Jeff arms residences account inactive since August 8
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Small AC Hotel signage installed on the Locust Street side. Some guys were working on site when I walked by yesterday.
From what I’ve heard, a lot of the sub contractors have walked off the job.dbInSouthCity wrote: ↑Aug 22, 2025Jeff Arms building Instagram account inactive since July 15.
The Jeff arms residences account inactive since August 8
I would be suprised if it was substantially completed in the next 9-12 months.
KMOV just reported on this, said it's 'coming online in late Fall'...
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Spoke with one of the workers on site, he said January 2026 construction finish
I spoke with several as well. Most thought that it had a year or longer and that was assuming that they could get sub contractors back onsite that walked off the job. It is pretty obvious when walking through that the entire project can't be finished in 4 months.dbInSouthCity wrote: ↑Aug 26, 2025Spoke with one of the workers on site, he said January 2026 construction finish
^Likely no pay or very slow pay to cause multiple subs to pull off the job. Could be some issue with project management, but I would guess the simple financial explanation first.
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I haven’t been able to verify the walk off yet, got a couple reporters looking into it.
Subs weren't getting paid. Hopefully the owner can get things back on tract and wrap project up in the next twelve months or so.
Pull a letter report. It should give you all the information you need.dbInSouthCity wrote: ↑Aug 26, 2025I haven’t been able to verify the walk off yet, got a couple reporters looking into it.
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Is the Tucker project happening anytime soon? Also, is the city taking action against the Tucker/Locust garage? It seems like the place is going to be beautiful but I worry about the curb appeal for residents if those things aren’t changed
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I applaud that this project is getting done in a way we all hoped it would. However, the lengthy financing period (when things were "good") and the current situation would give me pause that this firm can handle the Muni Courts building and adjacent lot development.
Time will tell, and looking forward to the finish. I can imagine this will open in phases, residential - amenities - commercial.
Time will tell, and looking forward to the finish. I can imagine this will open in phases, residential - amenities - commercial.