Big New STL Apartment Building

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FangKC
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Re: Big New STL Apartment Building

Post by FangKC »

This is a good outcome. Tearing down an attractive and historic building to construct a new tower, when there are numerous vacant parcels in downtown StL is a bad practice--even if it's next to the downtown ballpark.

Chris Stritzel
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Re: Big New STL Apartment Building

Post by Chris Stritzel »

FangKC wrote:
Sun Aug 09, 2020 12:13 pm
This is a good outcome. Tearing down an attractive and historic building to construct a new tower, when there are numerous vacant parcels in downtown StL is a bad practice--even if it's next to the downtown ballpark.
Here's the full scope of the new project...
  • Ballpark Flats is the "working name". An official name hasn't been chosen yet.
  • There will be 80 apartments.
  • There will be a pool, fitness center, business center, and sky lounge in the building.
  • The rooftop will have two decks. One with a view of downtown and ballpark village. The other will have a narrow view into the stadium
  • Bleachers will be put on the south roof deck for the narrow view of home plate and 3rd base.
  • Retail space will be 3800sf and sets up well to be a sports bar.
  • The new addition will have a slight mansard look to it.
  • No date on when construction will start.
  • Pier Property Group is the developer partner on the project.
  • Arcturis is the architect.
Story on CityScene STL: https://www.cityscene-stl.com/post/rede ... y-unveiled

Renderings...
Image
Image

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DColeKC
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Re: Big New STL Apartment Building

Post by DColeKC »

Glad to see it being repurposed. Can't believe what they paid for it! Steep!

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normalthings
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Re: Big New STL Apartment Building

Post by normalthings »

Image

Wasn't a fan of using that site for this tower but would love to see the original developers bring the tower plan to KC.

Chris Stritzel
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Re: Big New STL Apartment Building

Post by Chris Stritzel »

normalthings wrote:
Mon Aug 24, 2020 8:16 pm
Image

Wasn't a fan of using that site for this tower but would love to see the original developers bring the tower plan to KC.
Put it on the Bravicci site since those people probably aren’t serious. 33 floors and 337’ would make a solid impact on the skyline.

Chris Stritzel
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Re: Big New STL Apartment Building

Post by Chris Stritzel »

DColeKC wrote:
Mon Aug 24, 2020 6:36 pm
Glad to see it being repurposed. Can't believe what they paid for it! Steep!
$3.6 Million is what the building was bought for, which is nearly $4 Million less than the original asking price. However, I believe there was the chance they probably would've added more than just one floor, but it is what it is. The building is prime real estate being across from Busch Stadium and Ballpark Village (which has seen great success in space filling up. 75% of apartments are leased, there's only 5 small retail spaces left to lease out. With Spark going into the PwC Pennant Building, the office portion will be over 75% occupied).

The 80 apartments planned at 300 S Broadway will probably go quick as they'll probably be more affordable than the ones at One Cardinal Way. The 3800sf of retail space will also probably fill up quick depending on how everything goes at BPV. Plus, the 80 apartment units here probably won't bother what Cordish has planned for Two Cardinal Way and what not at BPV. 80 is a sweet number,

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DColeKC
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Re: Big New STL Apartment Building

Post by DColeKC »

Chris Stritzel wrote:
Tue Aug 25, 2020 2:23 am
DColeKC wrote:
Mon Aug 24, 2020 6:36 pm
Glad to see it being repurposed. Can't believe what they paid for it! Steep!
$3.6 Million is what the building was bought for, which is nearly $4 Million less than the original asking price. However, I believe there was the chance they probably would've added more than just one floor, but it is what it is. The building is prime real estate being across from Busch Stadium and Ballpark Village (which has seen great success in space filling up. 75% of apartments are leased, there's only 5 small retail spaces left to lease out. With Spark going into the PwC Pennant Building, the office portion will be over 75% occupied).

The 80 apartments planned at 300 S Broadway will probably go quick as they'll probably be more affordable than the ones at One Cardinal Way. The 3800sf of retail space will also probably fill up quick depending on how everything goes at BPV. Plus, the 80 apartment units here probably won't bother what Cordish has planned for Two Cardinal Way and what not at BPV. 80 is a sweet number,
I guess it comes down to how many units you can fit and that plays into purchase price. 5-7 million when you’re building 300 units makes sense. 3.6 when you’re only getting 80 units is a challenge, even in a hot market.

One Cardinal Way is just such a baseball fans dream. I’m here now and it’s very nice. Believe this is my 5th visit but first with a home serious in town.

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