urbanSTL

walker wrote: ↑

1:18 PM - 22 days ago

I expect news this offseason about decent, veteran pitcher signings.


(It won't happen.)

I swear a given season now is they start a littlle slow, have a hot streak around May to June, somehow realize that they are above 500 and could contend w Brewers/Cubs and then abruptly bomb a couple series before all star break so they can be .500 ball club at best during rest of season.  Maybe lose a couple more series at the end of year to make sure they are below .500 club.

Which gets to DeWitt announcing something for BPV.   Make some noise towards end of Cardinals season because you stunk up the field and need some distraction but do you really make the trades.  Not really.       

The timeline that it has taken to fill these handful of lots is almost laughable at this point. How this hasn't been fully built out is beyond. Would be excited to see the developers get in gear and build these towers.

STL1223 wrote:The timeline that it has taken to fill these handful of lots is almost laughable at this point. How this hasn't been fully built out is beyond. Would be excited to see the developers get in gear and build these towers.

Reality is reality. There isn't monumental demand for new build when there's so many vacant buidings that need to be filled. The parking lots at Broadway and Spruce and 8th and Spruce are evidence of this reality.

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StlAlex wrote: ↑

3:59 AM - 20 days ago

STL1223 wrote:The timeline that it has taken to fill these handful of lots is almost laughable at this point. How this hasn't been fully built out is beyond. Would be excited to see the developers get in gear and build these towers.

Reality is reality. There isn't monumental demand for new build when there's so many vacant buidings that need to be filled. The parking lots at Broadway and Spruce and 8th and Spruce are evidence of this reality.

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Luxury towers are a whole different product and market than rehabbed historic buildings. 

goat314 wrote:

StlAlex wrote: ↑

3:59 AM - 20 days ago

STL1223 wrote:The timeline that it has taken to fill these handful of lots is almost laughable at this point. How this hasn't been fully built out is beyond. Would be excited to see the developers get in gear and build these towers.

Reality is reality. There isn't monumental demand for new build when there's so many vacant buidings that need to be filled. The parking lots at Broadway and Spruce and 8th and Spruce are evidence of this reality.

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Luxury towers are a whole different product and market than rehabbed historic buildings. 

Sure.....but maybe there isn't demand for the Victor (which is not too much cheaper than One Cardinal Way), the Millennium replacement, and a potential AT&T redevelopment PLUS Two Cardinal Way. And TCW would only fill one of the parking lots. If downtown has some crazy luxary living demand, you'd see towers like One Hundred and Albion popping up, but I just don't think there is. Just have to be patient and careful, and that is what it is.

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Victor has 320 occupied units 

dbInSouthCity wrote:Victor has 320 occupied units 

Showing as 16% vacant with effective rents of ~$1.60 per apartment leasing data provider.

OCW avg. rents at a 4-7% discount to the Light Towers with marginally higher vacancy rate. All of Cordish’s towers in the State are effectively “full.”

ldai_phs wrote: ↑

9:04 PM - 20 days ago

dbInSouthCity wrote:Victor has 320 occupied units 

Showing as 16% vacant with effective rents of ~$1.60 per apartment leasing data provider.

OCW avg. rents at a 4-7% discount to the Light Towers with marginally higher vacancy rate. All of Cordish’s towers in the State are effectively “full.”

The $1.6 per foot is a little misleading because the units are so big.  16% is rough 3 years or however long it has been since leasing started.  

184 units started leasing at start of July 2023 and 200 July 2024.    

Approaching the point for me that there is no expansion on the cards anymore with this. Money and/or interest is gone. I don't care about chat or rumors that people are privvy to, nothing has moved on this in years now.

^Cards ownership sure lost a lot of revenue when the TV cash well went dry.

That said, I'm more interested in seeing the full Cordish Millennium proposal come to life.