OT: Midtown Development

[Lando Griffin]

On 3/13/2024 at 10:32 AM, Slu let the dogs out? said:

Much needed. Haven't been to Armory yet (probably because i'm not a 25 year-old that wears shin-high socks with tennis shoes) but the Foundry is such an amazing project. Walking through it, you get the sense you're in a proper city. The kids even love it. Took them to Puttshack and then to the food hall. Had a blast. Tons of stuff for all ages. The wife and I are checking out Gerard Craft's new speakeasy, located in the bowels of the Foundry, after dinner next week. None of the Above. As Bart Scott once eloquently stated, "Can't wait!"

I love that this is going to get done.

This will link these two developing areas together and allow SLU students to take advantage of the Armory a bit easier.  Of course Uber solves a lot of pains now.

just hope the city and SLUPD ensure it’s a safe area at all times.

[Slu let the dogs out?]

13 minutes ago, Lando Griffin said:

I love that this is going to get done.

This will link these two developing areas together and allow SLU students to take advantage of the Armory a bit easier.  Of course Uber solves a lot of pains now.

just hope the city and SLUPD ensure it’s a safe area at all times.

I believe both developments also have private security. A lot to like with the development going on in that area. 

[TRN]

13 hours ago, White Pelican said:

I believe this story. I'm wondering if the mayor woke up to a horse head in his bed.

Back then the Mayor was Freeman Bosley JR. the current Vito’s was Lindell Mini Mart.  Then, it became Bosley or Clarence Harmon’s election headquarters before turning into Vito’s.  

Originally, Vito’s was located in the basement of the Feathers apartments next to Bullfeathers.  Now I’m reminiscing of the real good times..

[billikenfan05]

https://fox2now.com/news/missouri/the-armory-stl-says-it-will-close-temporarily-citing-lack-of-funding/amp/
 

RIP The Armory

[willie]

16 minutes ago, billikenfan05 said:

https://fox2now.com/news/missouri/the-armory-stl-says-it-will-close-temporarily-citing-lack-of-funding/amp/
 

RIP The Armory

It will reopen in some form. Attendance was not the issue just too much debt. At the least the debt will be reorganized possibly with new ownership. 

[billikenfan05]

48 minutes ago, willie said:

It will reopen in some form. Attendance was not the issue just too much debt. At the least the debt will be reorganized possibly with new ownership. 

According to?

 I would say that a lot of things were messed up by the developers. Essentially one way in and out of the area. It is prohibitively difficult to get there, especially during peak hours in that area. No pedestrian bridge crossing 40 to connect SLU/Prospect Yards. There are so many people 200 yards from the facility that have to Uber or drive to the Armory.

[willie]

2 minutes ago, billikenfan05 said:

According to?

 I would say that a lot of things were messed up by the developers. Essentially one way in and out of the area. It is prohibitively difficult to get there, especially during peak hours in that area. No pedestrian bridge crossing 40 to connect SLU/Prospect Yards. There are so many people 200 yards from the facility that have to Uber or drive to the Armory. 

Pedestrian bridge is in the plans as long as long as money is there. Green Street the developer has other troubles beside the Armory. New money will be found at discounted levels either in distress or bankruptcy. If nothing else the city will help for they need it for tourism. The foundry people also want it to succeed. The parking lot sure looked full every time I  drove by. 

[willie]

2 minutes ago, willie said:

Pedestrian bridge is in the plans as long as long as money is there. Green Street the developer has other troubles beside the Armory. New money will be found at discounted levels either in distress or bankruptcy. If nothing else the city will help for they need it for tourism. The foundry people also want it to succeed. The parking lot sure looked full every time I  drove by. 

Just to throw out a name I could see the Lawrence Group getting involved. 

[BrettJollyComedyHour]

2 hours ago, billikenfan05 said:

According to?

 I would say that a lot of things were messed up by the developers. Essentially one way in and out of the area. It is prohibitively difficult to get there, especially during peak hours in that area. No pedestrian bridge crossing 40 to connect SLU/Prospect Yards. There are so many people 200 yards from the facility that have to Uber or drive to the Armory.

I'm with you. I'd be surprised if it reopens unless they overhaul it and make it a mid-sized concert/event venue again like it was in the past.

[TheChosenOne]

It is a neat place, but I remember walking out struggling with it conceptually. You spent all of that money to rehab the facility and you made it essentially a bar and small food court? Again, cool place, but the expenses have to be absurd.

[Lord Elrond]

4 hours ago, willie said:

Pedestrian bridge is in the plans as long as long as money is there. Green Street the developer has other troubles beside the Armory. New money will be found at discounted levels either in distress or bankruptcy. If nothing else the city will help for they need it for tourism. The foundry people also want it to succeed. The parking lot sure looked full every time I  drove by. 

SLU should buy it. It would make a great indoor track/ indoor tennis facility, and you could turn some of that parking into outdoor tennis courts too. Build the pedestrian bridge and it would be convenient for students/athletes to get to. All it takes is money.

[brianstl]

21 minutes ago, Lord Elrond said:

SLU should buy it. It would make a great indoor track/ indoor tennis facility, and you could turn some of that parking into outdoor tennis courts too. Build the pedestrian bridge and it would be convenient for students/athletes to get to. All it takes is money.

The basketball team’s first recognized home court was the now long demolished armory located on Grand in what is now the medical complex.

[brianstl]

4 hours ago, willie said:

Pedestrian bridge is in the plans as long as long as money is there. Green Street the developer has other troubles beside the Armory. New money will be found at discounted levels either in distress or bankruptcy. If nothing else the city will help for they need it for tourism. The foundry people also want it to succeed. The parking lot sure looked full every time I  drove by. 

It will be years before they build the new pedestrian bridge to replace the one the city just had to tear down.

[Old guy]

I do not know if you all are aware of this but the Armory is closing down, and they have been opened on weekends and after 4:00 P other days (not sure if the announcement indicated limited week days or not).

[Old guy]

triplicate

[Old guy]

triplicate.

[wgstl]

Oh

[ARon]

15 hours ago, TheChosenOne said:

It is a neat place, but I remember walking out struggling with it conceptually. You spent all of that money to rehab the facility and you made it essentially a bar and small food court? Again, cool place, but the expenses have to be absurd.

Keep in mind this was at least the second pivot made by the developer since they began sinking money into the place.  First it was intended to be office, and they seemed to be getting very little interest even before COVID crushed that market. Then something else that also wasn’t working. This was a last ditch effort to make something work.  Unfortunately the whole company is in trouble. 
Hopefully rates dropping and or someone like LG stepping in can work. 
 

Unfortunately LG seems to have gone so all-in on the Foundry that I wonder if they can even afford adding any more risk to their portfolio.

[TheChosenOne]

@ARon, that’s very true. While not the original plan, it’s basically a $30 million bar at this point haha. Maybe someone will be able to buy it "cheap" and still incorporate some aspects of the original plan? I just can’t imagine the revenue is remotely close in its current functionality to cover what I assume to be significant expenses for such a huge facility.

I remember on the front end my friend who is contractor saying this would be a massive boondoggle and he is being proven right. Basically the original project and winning bid were illogical. It’s a shame that this city has some of the developers that it has.

[brianstl]

6 hours ago, TheChosenOne said:

@ARon, that’s very true. While not the original plan, it’s basically a $30 million bar at this point haha. Maybe someone will be able to buy it "cheap" and still incorporate some aspects of the original plan? I just can’t imagine the revenue is remotely close in its current functionality to cover what I assume to be significant expenses for such a huge facility.

I remember on the front end my friend who is contractor saying this would be a massive boondoggle and he is being proven right. Basically the original project and winning bid were illogical. It’s a shame that this city has some of the developers that it has.

The problem starts with the city itself.  It isn’t exactly developer friendly.  The political games that people have to play are a joke.

[willie]

2 minutes ago, brianstl said:

The problem starts with the city itself.  It isn’t exactly developer friendly.  The political games that people have to play are a joke.

I have a good friend who recently retired from the St Louis redevelopment agency and he would definitely disagree with your statement. He recently gave a presentation outlining the development going on in the city. From the NGA to cortex to the foundry to the landing to midtown to the grove. Billions. Maybe this is being done in spite of the city but I am not sure your narrative is correct. 

[TheChosenOne]

I think many would certainly dispute your takeaways, but congrats to your friend on his retirement nonetheless.

[willie]

2 hours ago, TheChosenOne said:

I think many would certainly dispute your takeaways, but congrats to your friend on his retirement nonetheless.

I gave several examples of major developments in the city. You want to give some examples of where the city was obstructive. 

[TheChosenOne]

13 hours ago, willie said:

I gave several examples of major developments in the city. You want to give some examples of where the city was obstructive. 

Not particularly, it wouldn't be constructive. I certainly hope to see St. Louis turnaround the downward trend we have been on, so I hope you and your friend are right. I suppose you get to a point where there is nowhere to go but up and we are likely near that.

[billikenfan05]

Chicken n Pickle YOU are the new owners of the Armory.