urbanSTL

Someone at Gilded Age explained to me that many new construction projects would offer low rents (relative to the area) in order to have access to some government money for new construction intended for low income residents. I think the requirements were that you had to offer this for a five years or so then you could do as you please (turn them in to condos etc.) If that is the case, offering the low rents might actually mean more money for the development, making it a good decision in the long run. Aside from whatever stigma. But many of the well known developments had income sensitive rent available for those who qualified. I certainly don't know any specifics but it seems to me that construction is generally one of those industries that has a lot of room for "complicated financing" making it difficult to really be able to tell what is going on. Maybe if the Days Inn keeps on at the rate it is going Joe Edwards can move Flamingo Bowl over there instead of waiting on Patrick Stanley .

it deosn't have to be a bad thing. Maybe some students (Webster students?) will move in. Thats always a plus.

Not a student, but a single young professional working downtown, I recently moved into an affordable apartment downtown. I don't qualify for the affordable rents at Paul Brown, Merchandise Mart or others, but I still didn't want to spend more than a quarter of my monthly income on housing.

Nothing wrong with affordable apartments that a little tenent screening can't solve.

^And I've known many a high-rent place that rents to silver-spoon partying kids that could have been more selective in their tenants as well. IOW, tenant screening (credit, employment, criminal, rental history) is key, no matter how little or how much rent you charge.



And while homeless people largely from outside the City come Downtown for the concentrated resources not offered elsewhere in our region, hard-working moderate-income folks often choose Downtown for the same reason as middle-income folks like you and me-- for its great accessibility to numerous jobs that are a quick ride/drive from Downtown, not just jobs walkable within Downtown. Just as many new loft dwellers don't work Downtown, they are still benefitting from Downtown's reverse-commute access. Likewise, even working-class folks trying to save money for a car but working entry-level jobs outside of Downtown will still find that Downtown has the best transit accessibility of any place to live in the region. IOW, affordable housing Downtown is workforce housing accessible to numerous jobs within our region due to the transportation nexus or hub that is Downtown.



Ideally, every community with major employment should offer workforce housing. But just as Downtown ends up as the few places with homeless resources, sadly the Chesterfields of our region aren't planning workforce housing either. But while it's not fair, I think the latter is something more dire to the health of our region, and hopefully something not to be lost in our City's recent resurgence. Besides, people working diverse jobs lead diverse lives, which in turn leads to diverse needs, supports diverse retail and services, and ultimately makes our streets more lively 24/7, when everyone is not on the same 8-5 white-collar schedule.

I have defnitely felt very comfortable coming in or leaving late at night (as I often have to do for my own job) because we have a few tenants with third shift type schedules. I wish we had more in fact. Furthermore, in the grand scheme of options available to low income renters, $500 to $700 per month is not cheap rent . I believe there are many cheaper alternatives in less "popular" areas of the metropolitan area.

There is a story about this building in the newest St. Louis Business Journal. The article mentioned a diner being planned for the building. I'm not remembering the exact name of the new diner, but it had the number 12 in it........ since Tucker used to be 12th Street.

12th street White Castle? That would be affordable feeding

m2tbone wrote:There is a story about this building in the newest St. Louis Business Journal. The article mentioned a diner being planned for the building. I'm not remembering the exact name of the new diner, but it had the number 12 in it........ since Tucker used to be 12th Street.

An all-nite diner? If so, that could offset the abyssmal hours by many restaurants downtown (especially in the CBD where they are closed on the weekends.)

innov8ion wrote:

publiceye wrote:

How bout they make it look pretty for both categories of people.

Agreed, but . . .



Is that possible? Is that possible given the projected rents?

I may not be an architect, but it must be possible given some creativity and/or talent. That and taking pride in your trade.

I may have missed it in the thread above, but who IS the architect on this thing. That will go a long way in answering the creativity/talent question. There is no reason why this building couldn't be beautiful, it just depends on the creativity/talent questions above, the financing, and the level of risk aversion of the developer. Obviously, without HTC, you wouldn't touch this building without some long-term plan for it, i.e. it doesn't matter what the rents are now. What matters is the revenue 5-10 years from now, when low-income apartments are upgraded or converted to condos.



People keep talking about how downtown is ready for new construction, well it seems to me that this building is a good test for that. I obviously can only make an educated guess at the numbers, but I would think renovating this building into the sleek, all-glass tower mentioned above would still be considerably cheaper than constructing a new sleek, all-glass tower.

what are they doing with the facade? what's this about an all glass tower?

jlblues wrote:I may have missed it in the thread above, but who IS the architect on this thing.

According to the article, Klitzing Welsch is the architect and E.M. Harris is the general contractor. K-W did the Vanguard Lofts/Copia for Bruce.

bpe235 wrote:what are they doing with the facade? what's this about an all glass tower?

I don't think we know yet. I think the only person on here that might have an idea what it will look like is publiceye.



About two or three pages back, Bastiat accurately answered this building's critics by suggesting that the existing curtain wall could be replaced with "a glass shell", thus making it appear brand new.

bpe235 wrote:what are they doing with the facade? what's this about an all glass tower?

From earlier in the thread (WAY earlier in the thread):

The tough part is remaking the exterior. A plan by architect Joe Klitzing calls for putting a wood-paneled skin on the brick exterior and replacing the windows with aluminum frames and mirrored panes. "It is a contemporary European design."

wow ... i guess the residents wont be able to throw stones at anybody .... EVER.

DeBaliviere wrote:

bpe235 wrote:what are they doing with the facade? what's this about an all glass tower?

From earlier in the thread (WAY earlier in the thread):

The tough part is remaking the exterior. A plan by architect Joe Klitzing calls for putting a wood-paneled skin on the brick exterior and replacing the windows with aluminum frames and mirrored panes. "It is a contemporary European design."

Sounds intersting. Then again white vinyl siding straight out of a new subdivision from O'Fallon (Missouri or Illinois) would be an improvement.

Sounds intersting. Then again white vinyl siding straight out of a new subdivision from O'Fallon (Missouri or Illinois) would be an improvement.

No, that would NOT be an improvement... I would still take that building as-is, still better than anything in either of the O'Fallons.

I hope they don't flatten the south facade - the subtle angles are nice.

oh, I got your sarcasm. Did you not get mine? It cleary was a knock on how awful Ofallon is - architecturally.

A late night diner, open on weekends, what a concept!!



Former Days Inn downtown is getting a makeover

By Rebecca Roussell

ST. LOUIS POST-DISPATCH

12/07/2006



After two years of planning, Bruce Development Co. has begun construction on the $14 million Washington Avenue Apartments at Tucker Boulevard and Washington Avenue in downtown St. Louis.



"We had a lot going on," said Brian Bruce, president of Bruce Development, in explaining why it took so long for the project to get under way. "We actually started off with one lender and got a better deal from another."



The project is financed through US Bank. St. Louis-based Klitzing Welsch Associates is the architect, and St. Louis-based EM Harris Construction Co. is the general contractor.



The nine-story building, formerly a Days Inn, will feature 95 studio, one-bedroom and two-bedroom apartments. Studios begin at 400 square feet, and the two-bedroom units will be about 1,100 square feet.



Bruce said the apartments will be "affordable," with rents ranging from $500 to $850. Rent will include cable, high-speed Internet and parking.



The first floor of the building will be reserved for an "upscale" diner, Bruce said. The company is working with the owners of Copia Restaurant, 1122 Washington Avenue, next door to another Bruce Development project, the Vanguard Lofts.



"With all the people moving in the lofts along Washington and downtown," he said, a diner "is a great concept."



Bruce hopes to attract late-night diners and plans to keep the diner open on weekends. The preliminary name for the restaurant is the 12th Street Diner.

Cool, it will be a welcomed late night addition..

http://www.klitzingwelsch.com



Looks like a good mix of projects - the Chase Park Hotel and Apartments, City Museum, some lofts, Domino's Pizza, and a Rally's on Page!

Ihnen wrote:http://www.klitzingwelsch.com



Looks like a good mix of projects - the Chase Park Hotel and Apartments, City Museum, some lofts, Domino's Pizza, and a Rally's on Page!

wow, that website should apply for historic tax credits, What a dinosaur!