urbanSTL

shadrach wrote:Let's start dreaming! The Wells Fargo campus is kind of a hatter-scatter, quasi-Clayton/County Gov Center mess.

So, in my dreams—and after the several hundred additional employees—Wachovia hires an urban planning firm to fill-out/urbanize their campus. I'm not seeing tear down, but filling in the lawns, new street-facing structures, street furniture, plantings, etc.

I think this area could have the same kind of urban/congested vibe that Wash U MedCenter is getting.

Way ahead of you on the dreams. I think it would be great if Wells Fargo Securities anchors a new tower at the foot of the Gateway mall as soon as the rebuild 22nd interchange and put the street grid back. Of course, to fill that void, Wells Fargo Bank moves/consolidate some of their back office and IT operations to St. Louis (St. Louis is just as sound and strong in IT as the financial sector). To top it off, BofA sells Merril Lynch and they announce that they are going to buid and move into the second BofA tower across from the City Gardent.

If these jobs are coming from Manhattan then 200 some families are going to be shocked at what kind of real estate they can buy.

Alex Ihnen wrote:Ugh. This is a recurring issue (as you know). Our city suffers at the hands of boring natives (no offense at all to those of you who aren't boring!). Several colleagues have told me how they were very directly pushed to one community or another when moved here, only to become unhappy with their choice. It's not easy to listen to transplants, really hear what they're saying, know the city and make a good recommendation, but we can do better.

Understandably, businesses can do better and certainly after the description that GC gave. Personally, it should more about the employer giving employee more time, more then one trip or maybe even a year of storage rental in St. Louis (gives the option of signing a one year lease). Of course, I had a great employer when it came to my last move.

At the same time, as someone who has lived and worked out of a suitcase as well on owning my fourth home in state number four, I don't have much sympathy for someone who expects their employer let alone a local realtor to be able to give them the best info where to live within a metro region. I have been happy with my choices but it took a quite bit of personal effort and time from both my wife and I when it came to our most recent move.

Personally, I think people who buy immediately upon moving to a new city are nuts. And about the last person I'd ask for advice is my new employer's HR department. But I've heard those same stories of newcomers who get pushed hard by real estate agents to buy in the 'burbs. That sucks, but I can understand how it happens - they're in a rush and it's just easier and safer (not in the crime sense, but in the investment sense). More predictable, lowest common denominator, etc.

Also, as a housing market, STL City takes a little getting used to. As we all know, there's so much block-to-block variability here. You need to know what you're getting into. Someone can suggest Benton Park, and you wind up in Benton Park West, and, on the wrong block, well, there's a big difference. I always suggest city-minded folk rent in the CWE first, and explore from there. They'll find the right place before long.

A few things…
 
-Before it was announced how many people were being relocated here, I  was estimating 25-50 so this is much more than I have expected. I am also surprised they have decided to move the group from Manhattan since its very advantageous for this line of business to be located next to other financial firms. So this is a good measure on how much Wells views the STL location and its future prospects

-The CEO of WF Advisors was relocated here after the Wachovia acquisition and is heavily invested in the STL community. He is the Chair for this year’s United Way campaign, donated to Stray Rescue, Food outreach, and  the Central Library Reno. Sponsors the STL Symphony and is a major player in the RCGA. This shows even a greater commitment to the community and their future impact on the region.

-Their campus design is one of the worst in the city. Everything is inverted and hampers activity along the edges. The buildings are connected with a series of skywalks and are the campus edges are surrounded on most sides with surface parking. The main entrance is on Beaumont (middle of campus) instead of Olive, Market, or Jefferson. Probably because this used to be a bad neighborhood when the site was being developed. There are over 5000 employees on site but the campus generates very little pedestrian activity. There are hardly any restaurants or coffee shops within a short walk. The streets that border the site are way too large and are in a major need of a road diet. There is a full service café on site so most people never venture off campus for lunch. I would like to see improvements to the site to incorporate the site with the rest of its surroundings and generate some development.

-Most corporate relo departments are completely unaware of where to live within STL City. A handful of the people that relocated here with Wachovia live downtown and Soulard but very little live in other city neighborhoods. Most of these relo departments are run by middle aged individuals (no offense) that are out of touch with their city. I have heard accounts of instances where people wanted to live in the city but were pushed towards the burbs by the relo depts. City officials should have a seminar with all the companies relo depts in the region to inform them of the great neighborhoods with our city and which people would be a good fit. This is a major problem with the City of STL.
 

shadrach wrote: Jon Pils posters.

Announcement coming in the near future. Stay tuned......

I hope its regarding incoming jobs and not Neighborhood LIFT.

downtown2007 wrote:Announcement coming in the near future. Stay tuned......

Talk about teasing the blog

But you have to think it is some good news. St. Louis would not be a bad location for Wells Fargo to relocate/consolidated back office and IT workers. Strong Financial & IT workforce, Central location, Central Time Zone, Lots of space it already owns and certainly more affordable/cheaper then San Fran if that is where the bulk of the workers you want to downsize.

Your suspicion is correct. They are closing offices in Minnesota and moving it to St. Louis. It’s a combination of IT and Business positions. I didn’t catch the full numbers but it should be in the low hundreds.

thedude wrote:Your suspicion is correct. They are closing offices in Minnesota and moving it to St. Louis. It’s a combination of IT and Business positions. I didn’t catch the full numbers but it should be in the low hundreds.

Being a native Minnesotan I should remember the regional bank based out of Minnesota that Wells Fargo swallowed up once upon a time; however, can't think of the name of the bank for the life of me.

Norwest?

stlien wrote:Norwest?

Thanks, believe that is it.

Got me to think of another bank with strong ties from Minnesota with a well estabilished and strong relationship that also seems to slow grow its presence downtown - US Bank

Yes STL is getting jobs. Not certain how many yet. It would be awesome if in the 500-1000 range.

^Any idea whether they include any of their Home Mortgage division?

The Home Mortgage division is huge, they have a massive campus off 35W in MN here that used to house Honeywell. That'd be a massive amount of jobs if it includes any of that division.

I believe what we are talking about here are the positions located downtown (directly across the street from my building) in their tower. These positions are (from what I know) primarily focussed on back office/IT and securities trading. Should all be high paying positions. For reference of the possible amount of employees, the tower they currently occupy is about 750 ft (ie BIG building).

The mortgage division is not moving, but agree would be nice if they came to STL.

Where are we seeing this btw? Any releases anywhere?

I always thought this part of town needed major retooling. Including the suburban campus and layout. Unlikely in the near future though.