Box and Won Posted July 28, 2003 Share Posted July 28, 2003 From today's Post-Dispatch. Personally, I would hate to see the Drake Plaza torn down. It's a beautiful, historic building and Kohner Properties has dedicated a lot of time and money to finishing its renovation and making it an asset to Grand Center. If Grand Center is going to be a thriving neighborhood and entertainment district as Fr. Biondi wants it to, having a solid residential base is key. I hope that some sort of compromise can be worked out that will spare the Drake. Owner of apartment building balks at sale to SLU By CHARLENE PROST Post-Dispatch updated: 07/26/2003 05:56 PM University wants site for arena St. Louis University is close to the halfway mark in its quest to acquire a site in the Grand Center arts and entertainment district for a $70 million-plus arena. But there's at least one major obstacle remaining: the Drake Plaza Apartments. Jon Pyzyk, owner of the fully-leased Drake Plaza, doesn't want to sell. "I told the university that of all the buildings they could possible look at to tear down ... the Drake should be dead last," he said. The Drake is part of a mix of businesses, empty buildings and vacant land covering four blocks across Olive Street from a university-owned 2,100-car garage. Bounded by Olive, Washington Boulevard, Theresa Avenue and Leonard Avenue, the 10.9-acre site also is in Grand Center Inc.'s tax-increment financing district. The district would contribute about $15 million to buy property, raze buildings and relocate a dozen or so businesses. "We are going to give it our best effort to acquire there with the $15 million in TIF money," said Kathleen Brady, the university's vice president of facilities. But if costs go "significantly" beyond $15 million, she said, the university will move on to an on-campus site: a ball field area at Compton and Laclede avenues. The ball fields also are in Grand Center's tax district. But because site preparation would cost less, the district would provide only $5 million for the arena. The arena is for Billiken basketball and other university and nonuniversity events and activities. Brady said the university's choice location was recommended by its traffic consultants "for traffic reasons, and because of its proximity to existing parking and parking planned by Grand Center." That site also is closer to attractions in the growing Grand Center district, which the university has supported for years. "Our hope," Brady said, "is that the arena will be an anchor and help spur more development in Grand Center." Former Mayor Vincent C. Schoemehl Jr., Grand Center's president and chief executive, said either site would work. The university's choice site, he said "is preferable in terms of the impact on street life in Grand Center. But in terms of the cost to the TIF, if they go south, they get $5 million rather than $15 million ... and that would make doing other TIF projects in the district easier." Brady said the university had made offers to most property owners and would make others after appraisals are finished. The university has owned some property there for years. Since making its arena plans public, it's acquired more, including two buildings owned by Mega Sun Inc., a company at 3301 Locust Boulevard that makes sun-tanning equipment. It has 20 to 35 employees, depending on the season. Linda Laspe, one of the owners, said her company planned to stay in the city. And like other business owners interviewed, she thinks the arena will be good for the area. Roger Curdt, owner of Hart Printing Co., leases space nearby at 3441 Olive. "Do I want to move? No. But I don't have a problem relocating," he said. "The university has done an awful lot to improve the area, so I'd like to cooperate." Charlie Koyn, owner of Pavyer Printing Machine Works at 3306 Washington Avenue, has not received an offer for his building. But when it comes, he said, he'll want a "suitable" replacement building for his 22 employees and fair compensation. Pyzyk, by contrast, is digging in. He said the Drake's 87 apartments and commercial areas are filled. Plus, the complex - consisting of a stucco-covered pink building and an 88-year-old hotel designed by noted architect Preston Bradshaw - is listed on the National Register of Historic Places. It was renovated in the late 1980s at a cost of about $10 million. "These are beautiful, upscale apartments," he said. "I'm really proud of the way we've maintained and managed them. I can't understand why they can't build ... near, rather than on top of, the Drake." Brady said SLU needed the Drake if it's to build on its choice spot. The university could ask a city agency to intercede with power of eminent domain but, she said "the university prefers not to do that." SLU spokesman Robert Woodruff said the university had so far raised $8 million of the $45 million in private contributions it needs for the arena. It plans to borrow $25 million to be paid off with revenue generated by the 13,000-seat facility. Quote Link to comment Share on other sites More sharing options...
thetorch Posted July 28, 2003 Share Posted July 28, 2003 Man I would have hoped fund raising would be going a little better than that. We are not anywhere close to what we need. This is going to be a tough sell for the University. This seems like poor planning to me, why would they plan on putting the arena on a site where a landmark building is that just went through millions of dollars of renovation? Even if they did want to sell it would take alot of dough to get them out of there. Quote Link to comment Share on other sites More sharing options...
davidnark Posted July 28, 2003 Share Posted July 28, 2003 It is quite possible that the $8 million reflects only written comittments and that signifant additional money is expected to be secured in the near future. Quote Link to comment Share on other sites More sharing options...
Basketbill Posted July 28, 2003 Share Posted July 28, 2003 As I recall 8 million is what they had to start, I bet it is not an accurate figure. Quote Link to comment Share on other sites More sharing options...
jjray Posted July 28, 2003 Share Posted July 28, 2003 My recollection, from some report I read, was that the university was not going to actively seeks donations for the new arena until a site had been positively selected. The thought being that that you only get to make the pitch once and the sales pitch has more punch if you show a prospective donor a site and conceptual drawings. I would prefer the Drake not come down. Hopefully there are some creative thinkers involved in the project who can figure a way to shoehorn the complex around the Drake. A pink art deco apartment complex flanking the front door of our new arena ... something like having a pink flamingo on your front lawn. I like it!!! Then again, I live in South City so my tastes might not be representative of the Billiken community at large. Quote Link to comment Share on other sites More sharing options...
davidnark Posted July 28, 2003 Share Posted July 28, 2003 The Drake is a wonderful complex. It would be a shame if the University tears down the Drake in the name of redevelopment. There are vacant lots west of the proposed arena site and crumbling buildings immediately east and north of the site, so you would think they could move the project an extra fifty yards one of these directions to save the Drake. I suspect that more politics underlies these decisions. Quote Link to comment Share on other sites More sharing options...
jjray Posted July 28, 2003 Share Posted July 28, 2003 >I suspect that more politics underlies these >decisions. Yes, Father Biondi is not a fan of pink. Quote Link to comment Share on other sites More sharing options...
NashvilleBilliken Posted July 28, 2003 Share Posted July 28, 2003 I lived in the Drake just last year and really think it would be a shame if the university destroyed it. The apartments were probably the best place to live around campus for the buck. And it was very clean and newly renovated. I do not see how aquiring and demolishing the Drake is essential to building the arena in the proposed area. There are several blocks of run down buildings and warehouses that could easily accomodate the arena plans. Quote Link to comment Share on other sites More sharing options...
Quality Is Job 1 Posted July 29, 2003 Share Posted July 29, 2003 I, too, hope that Saint Louis University can build its arena in the target area without having to acquire the land that the Drake Apartments are on. I'm not familiar with them, but it the building is on the Historic Register, then SLU should upset that. It is good, though, that the University has a backup plan in mind. Quote Link to comment Share on other sites More sharing options...
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