Slowly, but the Wheels are Moving

A few years ago there was a traffic study of downtown streets and recommendations from experts on what needed to be done. Suggestions ranged from making some streets 2 way, (such as what was done shortly afterwards on Locust), synchronizing the traffic signals to allow for better traffic flow, and reducing the lanes on Tucker and allowing for better streetscape and parking (aka making it more pedestrian friendly).

I was jazzed about the changes and started watching for them right away. Locust did change between 14th and Jefferson--lowering the chances of me causing a head on collision overnight. Not the most observant of people, but that's all the changes I saw.

According to Mayor Slay's PR team, downtowns street revisions are now being drawn up by HOK downtown and plans should be ready by next spring. It's hard to concieve of more road work being done at the same time as the I64 project, but the recommended changes seemed relatively minor. Let's get it done folks! We're ready for these improvements.

Mortgage Rates Hit 2 Year Low!

The latest word from Freddie Mac on mortgages is that the fixed rate 30 year mortgage dropped down to 6.10%. That's the lowest since October 2005. With the deals available, the rates low, and everyone else at the mall, now might be the best time to buy in years!

Mayor Slay's Realtor: Please Read

Mayor Slay has hinted on several occasions of an interest in living in a loft. In his most recent blog posting, he talks about having the moving bug and already having a realtor. So to you, Mayor Slay's Realtor, here are the top 10 reasons why the Mayor and Mrs. Slay need to relocate to downtown.

1. The short walk to work would be invigorating and a positive lifestyle change for the mayor.

2. Membership in Downtown St. Louis Residents (DSLRA) would keep him informed of social events and community activities.

3. Walk to Washington Ave Post for Crepes in the City or to the Rooster.

4. Instead of driving a few miles to meet up with friends, just walk a few blocks or stay in your own building!

5. Pre-game parties in the loft with a short walk or shuttle to Cardinal, Ram's or Blues Games.

6. Rock Climbing at Upper Limits gym to alleviate the stress of public office.

7. Catch a cab with neighbors to visit Soulard Market or Forest Park.

8. Every first Friday of the month get a fresh dose of new art at all the local galleries and shops.

9. Live in one of the best collections of historic architecture in the nation.

10. Enjoy the modern upgraded style of living amongst a rapidly building community eager for a cosmopolitan lifestyle.

Build It and They Will Come

The most stable blocks in Downtown West are moving towards a new level of completion. At 1224 Washington, the Roberts Galllerie & Lofts construction began this week.

An era ended this week as the Downtown Childrens Center vacated its location beneath the Knickerbocker Lofts to move down Washington into the newly completed Motor Lofts building. Our kids started at DCC a few months ago and love it. The new facilities have lost the "urban funk" feeling, which seems to have everyone pretty happy.

The vacancy puts that space into the hands of Kevin McGowan & Urban Blue, which will definately put the space to good use. (Never to be relied upon) word on the street is that a restaurant and 3 retail spaces will result.

Also, at the opposite end of the block, Riley Waldrop purchased the old Marte's Shoe store and plan on converting it to more boutique style clothing and accessory stores.

The street traffic and presence on these two blocks can definately support this type of development and added retail, particularly as residents continue to take advantage of some of the great deals on lofts. It's exciting to see these key locations being developed, I can't wait!

Thankfully Downtown

Holidays have lots of traditions. That's especially true for downtown.

Usually, my Thanksgiving traditions were pretty much limited to listening to Alice's Restaurant on KSHE and then heading off to the family feast.

This year was different.

The morning festivities started with the Thanksgiving Day Parade. This is an ongoing event. Not being much of a parade person isn't an excuse when there are little ones involved. The boys went crazy over the parade. We pulled up next door to the Hilton at the Ballpark for my selfish need to be close to Starbucks. What impressed me the most was participants attempt to pretend it wasn't cold outside. Miss Soulard was dressed like it was a warm summer day. Her face told the true story. She looked miserable. We saw Santa then hit the road (he was appropriately dressed).

Our next event was a bit more challenging. Hosting a feast for 23. What made it more complicated was the home it was to be held in is still under construction. Thanks to our friend in the Kingbee building, we were able to use her space to host the family.

Hosting 23 people from around the metro area, most of which have never been in a loft was interesting. Our thought when we announced that we were moving the celebration downtown was that people would be hesitant. "The ONLY reason they're coming (into the city) is to see your new house!" my mother-in-law explained. We were delighted by the actual response though. Everyone was thrilled to be downtown. Being inside a loft excited the whole bunch.

Between dinner and dessert, we piled into 3 minivans and pressed further into the city to visit the downtown Macy's. A tradition that my elders couldn't stop talking about. "We used to always come to Famous Barr downtown to see the windows", I heard several accounts. My thoughts recalled the articles I've read through the years regarding the decline of downtown. For years and years, our region revolved less and less around the downtown area. An article in the St. Louis Post Dispatch in 1997 (2 years before the first loft condo building was completed) said that if our region was going to compete in the 21st century, that we would need to address the problems with our downtown.

When we got to Macy's, there was a pretty good crowd traversing from window to window around the store. The window displays were well done. The response was good too. Keeping track of the 9 kids in our vans was the priority, by this time they weren't to excited about forming an orderly procession from window to window. Hearing the positive remarks about downtown development was nice, but being able to say that so much more is on the way was even better.

Happy Holidays!

Ready, Set, Bowl!

Some thought it wouldn't happen, some thought it would never get done. But for all you bowlers out there, and everyone else, the Flamingo Bowl is finally coming!

Set to open December 14th, Joe Edwards told the St. Louis Business Journal that he already has booking requests. Also, he said he was doing it out of a love for St. Louis.

Downtown Bowling means more to downtown than just another bowling alley. It means one more thing we can do downtown without having to travel. Priceless!

We'll see you on the lanes!

Demand Continues to Expand

The downtown loft market continues to surge. So says Lisa Brown, real estate reporter for the St. Louis Business Journal in this morning's edition. Interesting timing, really. The article headlines the fast pace and talks about the Syndicate building. The Syndicate is scheduled to start closings within the next few weeks, Dorsa has already begun closings. So between the surge in existing loft sales that has taken place in the past two months and longer range sales that should consumate before 12/31, we are on pace to nearly double the sales downtown from 2006.

What slump?!?

Ok, so there's still a few developer's with mounds of unsold inventory. Despite the value and the recent uptick in sales, existing lofts are still sitting on the market. I do applaud the Business Journal's latest article for its positive perspective. As we hear all the time, or maybe that's just me, the St. Louis market is in pretty good shape considering the mess elsewhere.

Because we're finally taking advantage of our urban core (anywhere else this repository of 19th Century architecture would be priceless) we're ceasing to be the forgotten city. Real estate articles in the mid-90's, St. Louis wasn't even a city under consideration, now we're starting to regain our standing in the world.

PS. It's good to see we didn't make Forbes list of 20 MOST OBESE CITIES!

Leadership Downtown

As a business leader and downtown resident Mike Finan has made his mark on the Loft district! Mike was drawn to downtown 4+ years ago when he relocated from Kirkwood. He just finished rehabbing a condo in downtown Kirkwood but still wanted more of an exciting, urban feel. He explored downtown and came across the Louderman Lofts by Loftworks. For him it was home. He was Sold on Downtown!

In October of 2004 Mike began his business UMA( located @ 1100 Locust, with UMA Dot Spot is just two doors down at 313 N. 11th street.) The concept for these stores emerged out of frustration with trying to locate affordable accessories that reflected a modern sleek look for his own loft. UMA is a contemporary store that offers unique home accessories not found elsewhere in the St. Louis area. UMA has evolved in a variety of ways. It now is 3X the original size having 5 employees & 2 store fronts. The accessory line has grown & reflects a variety of edgy items such as a hammock chair, wall mounted wine rack, hand sculpted sconces for coats and much more. They have incorporated trendy Blu Dot furniture not found locally that has high design but a moderate price & Tivoli audio systems that hold great sound and are technologically advanced. Mike is always introducing fresh items that are unique to the area.

When asked about the affects of the highway 40 shut down, Mike states that it may change his customer base a bit, but many shoppers come in on the weekends so he expects continual growth. His clients are loyal & he feels the 40 shut-down might actually increase foot traffic downtown as many work & play in the city.

Along with his business growth & success he loves life in the city. He says that while the growth is amazing, he can still walk down the street and be greeted by many. Mike stresses that downtown continues to get the added stores & commerce it needs to become a residentially friendly neighborhood. He alludes to the much rumored Schnucks Market that has ownership of a local garage and supposal plans to open in the future. There are tons of great restaurants, banks, dry cleaners, shops, city grocers & much more now and slated in the future. If downtown doesn’t have it, the surrounding city does! Home Depot, Target, Walgreens & more! Everything is within a few miles or just a short drive away. Mike feels as a downtown resident his job is to shop in the city. Supporting our local commerce is what will make the City of St. Louis thrive and grow.

It was a privilege to meet with Mike so I could talk to him about the city & help share his experience. He had a vision and has been very successful in his business as well as being a constant supporter of downtown. If you have not been by UMA I encourage you to stop in to see what is available. You will find great home accessories and holiday gifts for your loved ones. You’ll be compelled to return over and over again!

Downtown Sculpture Park

More green space is coming to downtown St. Louis. According to an article by the post dispatch the city’s Preservation Board gave unanimous approval for the 20 Million Dollar sculpture park that will be created on the gateway mall. A group called the Gateway Foundation, a private agency that has placed art installations around the region, is paying for the project. This project will help create another aesthetically pleasing outdoor space in downtown St. Louis. It will be near the new Old Post Office Plaza.
Investment in green projects, such as this sculpture park are useful ways to attract business and residents to the region. St. Louis has a special taxing district called the Great Rivers Greenway District which, according to its website, uses a 1/10th of 1% sales tax to work“for a clean, green, connected St. Louis region. To deliver its mission, Great Rivers Greenway is spearheading the development of The River Ring, an interconnected system of greenways, parks and trails that will encircle the St. Louis region, enhancing the quality of life for residents and visitors." The Chouteau Greenway

My take on the tour

The Downtown Living tour seems to be like taking a drink off a fire hose; both for the participants as well as the workers. According to the Downtown St. Louis Partnership's Matt Schindler, there were over 1200 people registered. There was many more not registered, just walking the route looking at open houses.

One thing that those in my profession look for is the number of people who want to buy (or rent) downtown. They gauge the success or failure of the tour based on the number of true "prospects."

I disagree.

The best thing about the downtownt living tour is that it gives so many of the people who don't want to live downtown a perspective on living that they may not experience otherwise.

Getting the general public to see what downtown living is all about is important! Occasionally I hear about people wanting to live downtown and getting flak from parents, co-workers etc. The tour is for these people. We need to continue to encourage people to check out the urban lifestyle whether they are ready to climb aboard or not. So many people in St. Louis still
look at downtown living as such a novelty. It's scary how slow some people are at accepting changes.

As for the prospective buyer's, I'm more afraid than happy for them. The loft tour really is like getting a drink from a firehose. Many of the people we met were overwhelmed this weekend. Overwhelmed and caught in the hype is not a good position to be in when making such an important decision.

One positive note though, the loft district is finally looking like it's growing up. Most loft districts start out with the young and creative class building up and preserving the city, followed by the more mature owners coming in behind to add stability and clout. If this tour was any indication, the more mature buyer has found out about downtown. My guess is that they'll be coming soon.

Tea For Two

So I am really excited with the changes I see along Washington Ave. I was told that I must stop by The London Tea Room located on the 1st floor of the Ely Walker Loft @ 1520 Washington. I was impressed with the friendly staff & selection of drinks & foods. The teas are unique and have a true European flair & there is something for everyone, even the non tea drinkers. I also enjoyed a very tasty sandwich & a chocolate molten dessert that melted in your mouth!

This is a fresh concept down in the loft district. It feels like home and a place that downtown residents will love.

Attached to the tea room they have a huge furniture showroom. This store was ironically located out in West County and they moved to the city. In speaking with one of the designers they stated they have a large list of clients from all over including Central West End, the Loop, and Even Illinois! The furniture concept is unique and has a strong European edge. You really don’t expect this fresh surprise to be located in the heart of St. Louis’s Loft district. It is great to see that the stores are catching on & they feel that their growth lies on Washington Avenue.

If you are down around town stop in to this unique addition to the loft world! It’s certainly an enjoyable experience!

Help Your Neighbors!

We will be participating again this year in the Downtown Living Tour on October 13th and 14th and we need help!

In the past, downtown residents have helped out by working with the Downtown Partnership to staff developer's showrooms. Help Your Neighbors! We're looking for people willing to spend a few hours talking with tour attendees about downtown living and the awesome community that we have in the urban core. There can be stories written about how supporting the existing loft market will do more for downtown area now.

Drop us a line! We'd love to have you!

Free Public Transportation

Commerce Bank and Metro are bringing free public transportation to St. Louis, at least for a day. Throughout the month of October you can pick up a free metro pass at any Commerce Bank location in St. Louis City, County, or the Metro East. The pass will allow the use of Metrolink and Metro Bus for a whole day, anytime throughout 2007. Don't know where to begin using Metrolink or MetroBus? Go to Metro's home page, they have a feature called "Trip Finder," which allows an easy search of the best way to get anywhere in the St. Louis Region, when you need to get there. Just plug in the origin point, the destination, and the time of departure. "Trip Finder" will figure out how to get there and how long it will take. Highway 40 will be shutting down soon. This is a good opportunity to see how public transportation in St. Louis works. While your using Metro, think about ways the system could be improved. How could it be more efficient? Where else, would you like downtown to be linked to via public transportation?

Downtown Residents, Unite!

Tonight at the Dubliner is the quarterly residents meeting of the Downtown St. Louis Residents Association.

When buyer's walk around downtown looking for a loft home, lots of questions come up. Is it safe? What development is going on? How stable is the neighborhood? What is the appreciation?

Participation in DSLRA is all about these questions and placing the influence of the residents on what happens downtown. Plus, the added benefit of involvement, is the benefit of being a part of the tight knit downtown community instead of just living in it.

The meeting starts at 7, but Two of the downtown aldermen will be present, so show up early. Help DSLRA help YOU!Flyer

Meeting Agenda

Corporate Relocation, Downtown Style

Centene Corporation announced its plan to move to Downtown St. Louis and into Ballpark Village.

In hearing about the original plans of Ballpark Village, it seemed that there was a missing piece. Cordish and Cardinals exec's talked about the site attracting people all year long, not just during baseball season. They also mentioned that the towers that seemed to excite so many were really optional, and that they would be built as part of the protracted development AFTER all the parking, retail and entertainment was established. At the time, it seemed as if we needed another element, like a corporate headquarters. Having a few, or maybe 1200 more people showing up for work, dining in the restaurants, using the space will undoubtedly help such a monumental project to really establish itself into the area.

There's certainly going to be those who agonize over the fact that approximately $102 million worth of subsidies are a part of the $250 million overall deal. I tend to agree with the mayor on this one. This move, assuming it comes together completely, is one big piece of the urban renaissance taking shape. The payoffs for the region and the city will surely outweigh the costs.

Now we can focus on getting pro-soccer and the NBA!

The Train, The Train!

Downtown has lots of meetings. One important one is scheduled for this week regards the prospective expansion through the city from north to south. At this point, we're just talking about a study. Community involvement is key. The meeting is in south city tonight and downtown on Thursday. Click Here for the Meeting Flyer

Show us and be a part of our strong steps forward as we establish a world class public transit system in St. Louis.

The Economic Web of Downtown St. Louis

Downtown St. Louis used to be a pretty dreary place. The places that I walk today with prospective loft buyers are the same streets I walked as a much younger college kid looking for a wild night out. When I walk downtown today, the first thing I see are, like many people, loft buildings with big banners and ads enticing people to embrace an urban lifestyle in St. Louis. Unfortunately, to many, only these lofts seem to stand out as a single lonely blip on the radar of what's new in town.

But wait, could there be more? Can St. Louis have more than just a few loft buildings and a big steel arch?

Fifteen years ago, with the population of residents downtown at anemic levels, the downtown economy pretty much boiled down to the 80-90,000 people commuting in to work daily, the St. Louis Cardinals, and a few late night clubs. Factories were mostly shuttered, and retail was pathetic. Tourism existed, but why? The entire downtown area folded up at 5pm.

Dramatic plus that our urban renaissance has created is that the glut of class "A" and "B" office space downtown has disappeared. Buildings once open at barely surviving capacity have been reinvented as lofts and hotels.

The ongoing increase in population downtown has prompted a new need for services and retail that doesn't close at 5pm. This need has been slowly changing the downtown streetscape to a blighted appearance to that of a trendy metropolis.

Some major key investments by the community was the building of Americas Center, Edward Jones Dome, and Scottrade Center. Despite having a world class convention center, most large convention committees try to assess the area surrounding the convention center as well. Conventioneers complained of no life, sparse restaurants, and very little entertainment.

Bringing both residents and retail into our downtown area has helped our convention bureau to generate a buzz about our town and to lure the type of large scale events that are coveted by cities across the country.

With residents, housing, retail, entertainment and tourism all on the rise, what comes next? The final piece of the puzzle is more commercial. Fifteen years ago, any merger involving a downtown business or even lease renewals seemed to have a familiar tone. Businesses and jobs were abandoning the city for St. Louis county, or worse yet, outside of the region completely. With a more positive environment and housing among the most affordable in the nation, companies can begin to eye downtown St. Louis as a strong contender to start or move their business in. Just within the past 6 months, St. Louis is experiencing the obvious benefits of our improving community. Currently AG Edwards and Wachovia are merging and instead of another St. Louis based corporate headquarters leaving town (TWA, McDonnell Douglas, etc.) the retail security division of Wachovia is moving here. We have already experienced the influx of more new residents into the St. Louis community. Another possible situation with Centene in Clayton, considering a move out of the region, is also considering a move Downtown.

The real gift is that this cylce can continue to repeat itself until our downtown is the thriving downtown that it once was.

Dinner and a ball game!

JBuck’s business is booming at the new downtown location! And what a better spot to open a place… only 400 yards away from the ballpark! What took so long?? The downtown location has many great features. The roof top dining area is great place to have a private party and can be rented for any occasion. The main dining room has many of the buildings original features such as original pocket doors and original flooring.

Here is a little fact about the restaurant named JBucks. Ted Geiger the owner of the restaurant approached Jack Buck many years ago with the idea of opening a Jack Buck “themed” restaurant. Mr. Buck at the time was not too keen on the idea, stating he felt he would have to be there all the time. Well Mr. Geiger did not take no for an answer. He went to Jack’s daughter Julie and asked her knowing a father could never say no to his daughter! Well Jack finally came around and said “yes” as long as it would be named “JBuck’s” J standing for Jack, Joe and Julie.

Now the restaurant is as well known as the name it represents one of the world’s best broadcasters! Kudos to The DSLP and Mr. Geiger for bringing yet another fine eating establishment to the ever growing downtown area!

Too Big For One

The vision for Lofts in the Lou was simple. To have a site that promotes the downtown renaissance, looks at pressing issues to the downtown community, and offers insight on real estate matters that one seeking to buy or sell in downtown St. Louis would find helpful.

Downtown's storied growth in the past few years is taking some pretty large strides right now. It's been overwhelming. Where can we even start?

My real estate team, consisting of Lisa Grus, Dean Ritchie, and Howard McAuliffe, decided that it was time for them to get involved in sharing their views and adding it to the vision of what this blog is about. Starting today, look for an expanded point of view and hopefully more useful information about the awesome downtown neigbhorhood.

Help the Balancing Act

According to the mayor's blog post, the city's TIF commission will be meeting soon to discuss whether new developments should receive the benefit of Tax Increment Financing.

I'm not sure why, but I tend to be a sucker for giving public money incentives to people trying to make better use out of our city and its property. I know the downside and I know some downtown residents that can think of better uses for their taxes.

I'm also a sucker for our civic responsibility and a good meeting (The city is hosting one next month). There may be lots of time to talk after the decisions are made, but the right time would be at the meeting. Show up!