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Have they cancelled this project altogether or is it just on the backburner until the market improves? Their website states the have sold 11 out of 51 units. It doesnt suprise me that some of these projects will fold with the current real estate market. I wonder who is next?

Got some information today.



1. The display... most amazing display I have seen. The interior design/history granite/views are just jaw dropping.



2. Pricey



3. They do have underground parking, I think someone said they didnt... They said only 1 spot per loft though, then a 2nd spot will be in the back lot. They are looking into lifts.



4. I dont know if I misunderstood... but I think he said there is going to be a community roof deck, and he did not mention anything about a workout room. (Dont quote me)



5. Condo fees are estimated @ 18 cents a sqft. It includes internet.



6. Construction starts in 6 months.

I talked to a Jacob's employee at the Ventana on Sunday night and he told me that the Avenida was going to be rental. He said they were currently talking to a number of banks.

From the Biz Journal:

Andy Hillin, principal of Jacob Development Group, is positioning The Avenida Lofts building at 1235 Washington Ave. as a mixed-use building with apartments and commercial space. The original plans for the seven-story building called for condos. Priced between $750 and $1,500 per month, the 36 apartments will open to residents next summer.



Hillin said he has signed a letter of intent with a restaurant to lease the 10,000 square feet of ground floor retail space.

Is the retail space leased that is mentioned in the article Bar Louie?

From last weeks West End Word...



The third project approved by the TIF Commission is a loft project also in the heart of downtown, this time a joint venture between the McGowan Brothers Development and Kennedy Associates. The seven-story building at 1225 Washington Ave. is one of the last undeveloped warehouse buildings on that stretch of Washington. Previously it had been promoted as the Avenida Lofts by the Jacob Development Group, which pulled the plug on the project last fall.



McGowan Brothers Development has overseen several loft developments downtown and Kennedy and Associates, a minority-owned design-build firm, would be the contractor on this project. Kennedy and Associates, which currently has 95 employees based in the Metropolitan Square building, would take two floors of office space in the building when it is complete.



The ground floor would be used for retail space and the top four stories would become loft-style apartments.The companies requested $2.7 million in TIF assistance on the $21 million project.

^

Is Jacob still in business, or have they gone the way of Pyramid?

Still think they are operating.



http://www.jacobdevelopmentgroup.com/

This is great news, I have been amazed that even with a down economy how many downtown projects have continued with some modifications. I doubt there is any area of the metro that has seen the same level of continued investment over the past year.

Here is a picture of the side of the building showing the difference from the powerwash.





Crazy!

barely noticeable



It really is amazing what a difference a little tlc makes on these old buildings. Thank goodness we've evolved past coal furnaces.

Moorlander wrote:barely noticeable



It really is amazing what a difference a little tlc makes on these old buildings. Thank goodness we've evolved past coal furnaces.

Makes you wonder why no one did it before.



Remember what the Lucas Park Grill building looked like before the McGowan Bros. cleaned it? It was practically black with soot!

Another great example is the Cupples complex. I can remember thinking many years back, "Tear those f****** down. They're hideous." I'm now ashamed to have thought that. Those have turned out to be some damn handsome buildings.

It also did wonders to the Paul Brown and the Meridians white brick.

steve wrote:Another great example is the Cupples complex. I can remember thinking many years back, "Tear those f****** down. They're hideous." I'm now ashamed to have thought that. Those have turned out to be some damn handsome buildings.

Give it time, at least one of them is getting ready to come down on its own. I don't mean to "cross the streams" here, but is this the same McGowan entity that is currently letting one of their Cupples buildings cave in for lack of funds?

So I hear that this space is likely to include a Mexican restaurant. Perhaps some kind of piano bar as well...

I guess the Bar Louie that was rumored to go into this spot is no longer.



Its amazing this place can have a list of possible tenants but the adjacent Bogen's retail spaces which I would consider a good location continue to sit vacant.

On the Bar Louie, front, I have heard rumors from several people that Bar Louie is negotiating with the Syndicate to open there...

GC that's great!


Here is more info on Jive and Wail

http://urbanstl.com/forum/viewtopic.php ... nd#p165746