St. Louis company to renovate three buildings into lofts

[Big Red Storm]

This is truly great!  I'm glad to see a company with great past success come in to do this.  We need more developers like this.  Maybe it will start a bit of a competition with other developers in KC.  That only means good news!

[ComandanteCero]

i have a question, is there 1.5 million sq ft worth of buildings downtown that could be made into lofts that already haven't or aren't in the process?  Just wondering which large buildings are left for loft conversion downtown....

[LenexatoKCMO]

i have a question, is there 1.5 million sq ft worth of buildings downtown that could be made into lofts that already haven't or aren't in the process?  Just wondering which large buildings are left for loft conversion downtown....

One KC Place; P&L; AT&T; 1201 Walnut; Town Center 

[Big Red Storm]

One KC Place; P&L; AT&T; 1201 Walnut; Town Center 

Yeah, if no businesses are occupying the top floors of One KC Place you could turn them into condos.  630 foot views of the city! 

[KCLofts]

This is great news.  While I'm sad that a local company wasn't able to do these projects, it's good to hear that someone with a lot of experience in this area is getting the job done.  I do think the outside influence helps raise the bar for the local guys.  It was readily noticeable when the boys from Chicago came in and schooled everyone when renovating the Western Auto building.

It's good to see the hulking beast at 2117 Broadway finally get put to good use.  This should have some great views of the city.  It's been up for sale forever, but no offers ever came in that were close to the $5.75M asking price.  The owner was willing to use it minimally and sit on it until someone gave him an offer that was acceptable.

I suspect that this will spur on the sale of the not-so-pretty white painted brick building immediately north of this one.  It went on the market a few months ago.  It's a live/work building now.  Would be a logical candidate for renovation.  Anyone got $2M handy?

If this group is looking for a lot more space, then the Abdiana/Firestone building is probably on their list.  They obviously have the cash to tackle this project.  It could be a fight between St. Louis and Chicago for this one.

[ignatius]

^I was thinking the same thing when the STL guys said they wanted a large portfolio here.  The Abdiania guy might be sittin pretty if both Chicago/STL developers want it. 

I would rather see one of these players do the Abdiana than a likely hack job by the current owner.  Although a raw or warm shell could work too for Abdiana cut into 4 large units per floor.  Some recent projects are overdone me thinks in terms of not having the true open loft feel..

[Gladstoner]

Did the tower on H. D. Lee used to contain a clock? A circa-1950 image shows that it once contained something, but I couldn't tell what. As I stated in an earlier thread, I think it would be cool if they would install stained-glass designs in the now-bricked-over circular openings at the top. Back-lit at night, it could be a landmark for the Freighthouse area. It could be a project for the artists of the area. Maybe they could even incorporate a clock into it as well.

[DiggityDawg]

Update, from this morning's Star :


In other matters, the development agency board approved:

■ Development plan amendments required to allow McGowan Walsh Historic Renovators, a St. Louis company, to proceed with its plan to renovate the historic Argyle Building at 306 E. 12th St. into 91 market-rate apartments. The first floor of the 100-year-old building would be retail.

Jerry Altman, vice president at McGowan Walsh, said his firm would like to start the $18 million project before the end of the year and have it completed by the end of 2006. About 26 parking spaces would be in the basement, and residents also would be able to lease spaces in the new city parking garage next door.

[LenexatoKCMO]

They had the 2117 Broadway building lit up top to bottom last night.  This seems significant since there is never so much as a single light on in that joint.  Are the Mcgowan folks finally going to get this moving? 

[ComandanteCero]

should a new Argyle Building thread be created? methinks so (seeing as they'll start renovation soon) 

from Collison's article about the Berkley lofts today:

At the same meeting it approved tax incentives for Berkley Lofts, the PIEA also approved a development contract for the historic Argyle building at 306 E. 12th St. into 90 market-rate apartments. The first floor of the 100-year-old building would be retail. Construction is expected to begin within 30 days with occupancy scheduled for May 2007.

McGowan Walsh Historic Renovators, a St. Louis company, is doing the $19 million project.

[DaveKCMO]

PIEA approves:

http://www.bizjournals.com/kansascity/s ... aily3.html

McGowan & Walsh LLC leads the H.D. Lee and J.I. Case buildings' conversion. The St. Louis-based company is in a joint venture with Mike Rainen of Kansas City on the H.D. Lee building, 117 W. 20th St.

The buildings are to contain 224 residential units -- 119 in the H.D. Lee building and 105 in the J.I. Case building, 2117 Broadway.

Jerry Altman, a senior vice president with McGowan & Walsh, said the H.D. Lee building's first two floors will be used for restaurants, retailers or offices.

Total budget is $25.3 million. Project completion is anticipated for August 2007, Altman said.

[scartva]

VERY VERY good news!!  /

I'm especially happy about the following statement:

"Jerry Altman, a senior vice president with McGowan & Walsh, said the H.D. Lee building's first two floors will be used for restaurants, retailers or offices."

Now, if they could just decide what to do with the vacant lot just North of the Freighthouse Flats project. 

[ntbpo]

It does seem like their projects take forever. However that are fantastic at what they do. I have viewed many of the loft conversions they have done here in STL and all of them are incredible. You will get quality development out of them.

Rich in STL.

[ComandanteCero]

anyone know what the progress is looking like at the Argyle? 

as a refresher, it's supposed to be 90 rental lofts with 9,500 sqft restaurant/retail space at groundlevel, to open Winter of 2007 (according to their website:

http://www.mcgowanwalsh.com/loftsRegion ... sas%20City

[schugg]

they are moving right along now with all the work. right now they are finishing up some tuckpointing and gutting the interior.

[cdm2p]

McGowan Walsh hasn't touched the Argyle in months. 

[LenexatoKCMO]

McGowan Walsh hasn't touched the Argyle in months. 

Both the freighthouse area buildings have been seing quite a bit of work lately - hard to imagine they would do all three completely simultaneously.

[ComandanteCero]

I wonder if they are slowing down so that their opening is after the district is up and running (from the blurb on the website, proximity to the P/L seems to be one of their main selling points). 

[LenexatoKCMO]

Anybody know what's up with these projects?  The Argyle building looks ghetto now and 12th street between Grand and Oak looks terrible because of the loss of the law building and now the argyle building.

On the good news front - the other projects are advancing nicely.  The Windows project does not look like it is too far from being ready for occupancy - the Hayden, next door looks even closer, and Piper looks like it probably still has a few months to go.  Assuming all these units sell, the Freighthouse neighborhood should see a very substantial population bump by fall. 

[beautyfromashes]

How would this not delay the opportunity for a large convention hotel?