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OT: Midtown Development

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I don't think it has been mentioned in this thread yet but I am really excited for Bulrush to open this month. Chef/Owner Rob Connoley, previously of Squatter's Cafe in the KDHX building, and of New Meixco's Curious Kumquat where he was named a James Beard semifinalist, has quite an interesting concept going: "Ozark cuisine".

Here are a few links talking about Connoley and his new restaurant:

https://www.stlmag.com/dining/bulrush-rob-connoley-new-location-opening-foraging-cookbook-kranzberg/

http://www.feastmagazine.com/the-feed/st_louis_news/article_ba9537a8-c1bf-11e8-b398-8f6d4851c089.html

https://www.stlmag.com/dining/st-louis-most-anticipated-restaurants-of-2019/

 

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On 1/8/2019 at 11:43 AM, billikenfan05 said:

This thread has been active for almost a decade. That's incredible! 

Crazy seeing those pictures on page 1 with the Spring Street lofts renovation. 

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13 hours ago, White Pelican said:

I did not see this coming.

What's great is that in this rendering alone there are at least two sites available for additional development across the street.  It will be interesting to see how this area takes shape.

Mill Creek Flats

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Has anyone heard anything on any of the empty Laclede buildings?  Humphreys, Diabliatos, and Laclede's are all sitting empty and have been for years.  You also have the empty warehouse a little east of Laclede's.  It is really frustrating to see those sit there empty with apparently no plans.

A lot of great things happening in the general area of SLU but frustrating we can't even get the stuff across the street from us right. 

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32 minutes ago, milwaukeebill said:

Has anyone heard anything on any of the empty Laclede buildings?  Humphreys, Diabliatos, and Laclede's are all sitting empty and have been for years.  You also have the empty warehouse a little east of Laclede's.  It is really frustrating to see those sit there empty with apparently no plans.

A lot of great things happening in the general area of SLU but frustrating we can't even get the stuff across the street from us right. 

I think you are talking about this building which was a topic Bonwich loved.

Fifth%20House.JPG

Fifth%20House%20Jason.jpg

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22 minutes ago, brianstl said:

I think you are talking about this building which was a topic Bonwich loved.

Fifth%20House.JPG

Fifth%20House%20Jason.jpg

Not owned by SLU and the price is sky high. Similar to Humps. Unfortunate really. 

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36 minutes ago, brianstl said:

I think you are talking about this building which was a topic Bonwich loved.

Fifth%20House.JPG

Fifth%20House%20Jason.jpg

When we worked on University Village over a decade ago (now City Lofts) there was talk about redeveloping this building as well. I can't recall specifics but I know there were some major issues associated with it. Clearly that still seems to be the case.

Really excited for the midtown area Northeast of Grand and Chouteau. Michael Hamburg has big plans for that entire area so don't be surprised if we hear about new developments over the next 5-7 years. Looking forward to hearing more details when I meet with Michael this week to go over some projects. 

 

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36 minutes ago, RiseAndGrind said:

Not owned by SLU and the price is sky high. Similar to Humps. Unfortunate really. 

Unfortunate that those buildings are all owned by land grabbers who never really had plans to develop the properties, just sit on them and sell off later on for profit. Funny because every year they’re essentially losing money, meaning they have to keep asking for a ridiculous price.

I think the guy who bought Humphreys was this a-hole, who if I’m not mistaken I also remember threatening people on Twitter: https://www.google.com/amp/s/www.bizjournals.com/stlouis/news/2016/09/09/humphreys-bar-nearto-be-replaced.amp.html

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1 minute ago, Spoon-Balls said:

Unfortunate that those buildings are all owned by land grabbers who never really had plans to develop the properties, just sit on them and sell off later on for profit. Funny because every year they’re essentially losing money, meaning they have to keep asking for a ridiculous price.

I think the guy who bought Humphreys was this a-hole, who if I’m not mistaken I also remember threatening people on Twitter: https://www.google.com/amp/s/www.bizjournals.com/stlouis/news/2016/09/09/humphreys-bar-nearto-be-replaced.amp.html

Blocked me

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17 minutes ago, Spoon-Balls said:

Unfortunate that those buildings are all owned by land grabbers who never really had plans to develop the properties, just sit on them and sell off later on for profit. Funny because every year they’re essentially losing money, meaning they have to keep asking for a ridiculous price.

I think the guy who bought Humphreys was this a-hole, who if I’m not mistaken I also remember threatening people on Twitter: https://www.google.com/amp/s/www.bizjournals.com/stlouis/news/2016/09/09/humphreys-bar-nearto-be-replaced.amp.html

I'm sure they enjoy the depreciation though...

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46 minutes ago, Slu let the dogs out? said:

I'm sure they enjoy the depreciation though...

You still have pay the piper on depreciation when you sell it

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1 hour ago, Slu let the dogs out? said:

I'm sure they enjoy the depreciation though...

Don’t think u can depreciate a building not put in use - it’s just inventory.  

Not saying people don’t do this & it slips thru the cracks.  

Retired cpa whose practice was based on real estate clients. 🤔

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1 hour ago, Major Majerus said:

Don’t think u can depreciate a building not put in use - it’s just inventory.  

Not saying people don’t do this & it slips thru the cracks.  

Retired cpa whose practice was based on real estate clients. 🤔

Yeah I was wondering about that immediately after posting. Never had to deal with accounting on a commercial building that remained abandoned. Makes sense that you could not.

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2 hours ago, cheeseman said:

You still have pay the piper on depreciation when you sell it

True but until you sell it's always nice to have losses to offset other income you may have. Although as Major pointed out, probably can't get any from a building that remains out of use.

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