State of Downtown / 2014
Table of ConTenTs
03 Year in Review04 Residential06 Hotel and Hospitality07 Retail and Entertainment08 Office10 TransportationandInfrastructure11 Safety12 Education13 ContactInformation
DoWnToWn We s T ne IG HboR HooD
DoWnToWn ne IG HboR HooD
GReaTeR DoWnToWn sT. loUIs
DoWnToWn CoRe
Downtown Core:the Downtown Core is made up of the St. Louis City neighborhoods of Downtown and Downtown west.
Greater Downtown St. LouiS:Greater Downtown St. Louis is comprised of those uS Census tracts with the greatest concentration of employment in our urban core.
3BaCK to taBLe oF ContentS
f Y e a R I n R e V I e w f
aS fUtURe geneRatIonSlookbackonthestateofDowntownin2014,theyarelikelytopointtothis
astheyearofDowntown’snewbeginning.NeverinthehistoryofDowntownhasthecommunity
seenayearwithmorepublic/privateinvestment,moreeconomicactivity,moreawakeningof
nationalandinternationalrecognitionofourcommunity’sintriguingattributes,oramorepositiveand
collaborativespiritfocusedonbuildingforthefuture.
TheyearhasalsobeenaboutleavingbehindtheremnantsoftheGreatRecessionandreignitingthegrowth
andvibrancyofthedowntowncoreforthenation’s19thlargestmetropolitanarea.Steadyhousingabsorption
overthepasttwoyears,includingtheopeningandsuccessfullease-upofTheParkPacificandTheLaurel
apartments,haslednewinvestorsanddeveloperstore-enterthemarket,seekingopportunitiestocreate
newmarket-raterentalandfor-salehousingoptionstomeetthegrowing
demandforDowntownliving.
In2014,wesawtheopeningoftheToweratOPOP,thefirstnewhigh-rise
apartmentsbuiltinDowntowninmorethan50years,andtherepositioning
oftheMillenniumCenterbuildingtoprovidebothcommercialofficeand
market-rateresidentialliving,inamixed-useredevelopmentsolution.
Thefuturelooksevenbrighterwithplansunderwayformorethan750
additionalnewhousingunitsthroughoutDowntown.
PublicandprivateinvestmentswereequallycriticalindrivingDowntown
forward inthepastyear. Fromthecompletionofthe$600million
StanMusialVeteransMemorialBridge,acriticalbi-stateconnectorfor
economicdevelopment—aswellasaspectacularnewiconfortheDowntown
skyline;tothecommunity’sunprecedentedundertakingtorenovateandexpandtheJeffersonNational
ExpansionMemorialtoconnecttheCity,theArchandtheRiverintoacohesiveandinterdependent
destinationandmagnificentfrontdoorforourcommunity;andthelongawaitedopeningandsmashing
successofBallparkVillage,apremierentertainmentvenuefortheregion.
Duringtheyear,Downtowncontinuedtoevolveintoavibrantanddynamiccommunity,hostinghundreds
ofevents,leadingtheregion’sincreasingnationalacclaimasa“go-tomarket”forlocatingentrepreneurial
businesses,whileretainingandexpandingthecorporateofficesforsomeofourregion’smostestablished
andfastestgrowingcompanies.
Downtownandtheregionaremakinggreatstridesininfrastructure,corporategrowthandentrepreneurship.
Thesesuccessesandthemanyothershighlightedinthisreportareattributabletoenhancedregionaland
public/privatecollaboration.It’sanewbeginningfortheregionandDowntownisintheheartofit!
4BaCK to taBLe oF ContentS
R e S I D e n t I a L
92% Occupancy
Downtown Core Population: 7,967
Greater Downtown
Population: 17,359
ReCenTly openeD
ProPerty name totaL unitS
year oPeneD
LacassianLofts 27 2013
Gallery515atMillenniumCenter
102 2013
ToweratOPOP 128 2014
CityParcatPine 149 2014
wHIle theburstofthehousingbubbleforcedaquick,dramaticandsustainedshiftintheresidentialmarket,
demandfordowntownlivinghascontinuedtogrow. DURInG THe pasT fIve yeaRs, popUlaTIon In
THe DoWnToWn CoRe neIGHboRHooDs GReW by oveR 28%, an aveRaGe of 350 neW ResIDenTs
eaCH yeaR. THIs bRInGs THe Ten yeaR ResIDenTIal popUlaTIon GRoWTH RaTe To oveR 124%. Althoughnew
condodevelopmentstoppedin2009andaverageannualcondosalesdroppedfrom350unitstowellunder100,new
downtownapartmentpropertiescontinuetobedeveloped.Thelatestwaveofresidentialprojects-recentlyopened,
underconstructionorplanned,promisenotonlyadditionalresidentialinventorybutsubstantiallymorediverseresi-
dentialoptionsintheyearsahead.Thisincludes:The Tower at OPOP,thefirstnewconstructionresidentialtowerin
50years;TheArcade,asignificant,historicrehabthatwillhouseover200workingartists;
and The Alverne,anotherhistoricrenovationthatwilloffertwostorytownhomestyleunits.
Astheeconomyimproves,developershavebeguntestingthemarketagainforcondos,
startingwithapartmentconversionsalreadyunderwayatTheMarquetteandTheSyndicate.
Re sIDenTIal UnIT s
Apartments 4,740*
Condo 1,645
totaL 6,385
*Includes 1012 Income Restricted units
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R e S I D e n t I a L
Average St. Louis
MetrO rent:
$801/month Source: Institutional Property Advisors
ResIDenTIal GRoWTH In DoWnToWn CoRe
0
1000
2000
3000
4000
5000
6000
7000
20102000
M eR IDI a n Lof t S
toweR at oP oP
ResIDenTIal GRoWTH In DoWnToWn CoRe
0
1000
2000
3000
4000
5000
6000
7000Population
Residential Units
1312`11100908070605
p opUl aTIon
Re s IDe nTI a l UnIT s
Source: U.S. Censusp opUl aTIon
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H o t e L f H o S P I ta L I t Y
Top HoTel s by Room sIze
HoteL no.
RenaissanceGrandHotel 918
HyattRegencySt.LouisRiverfront 910
HiltonSt.LouisattheBallpark 675
St.LouisUnionStationHotel-Doubletree 539
CrownePlaza 440
DruryPlazaHotelattheArch 355
RamadaPlazaHotel 295
HoteLumiere 295
SheratonHotel 288
Westin Hotel 255
s T. loUIs CIT y & CoUnT y ToURIsm ImpaC T
CateGory imPaCt
Visitors $23.9mil
VisitorSpending $4.88bil
TourismJobs 85,164
TourismWages $2.78bil
TourismTaxRevenue $925mil
Source: IHS, D.K. Shifflet & Associates, St. Louis CVC
2013 Was an oUTsTanDInG yeaR foR HoTels In DoWnToWn sT. loUIs as key InDUsTRy benCHmaRks
—Occupancy, average Daily rate anD revpar (revenue per available rOOm) were all up
sIGnIfICanTly oveR THe pRIoR yeaR. ThatimpressiverateofgrowthcontinuesinQ12014.Inaddition,THe
St. lOuiS cOnventiOn anD viSitOrS cOmmiSSiOn (cvc) bOOkeD 553,000 future rOOm nightS During fy13,
a 10% InCRease oveR THe pRIoR yeaRwithbookingpaceforFY14againaheadoflastyear’space.Inlate2013,the
MillenniumHotelwasshutteredanditsfuturestatusisyettobedetermined.However,re-inveStment in DOwn-
ToWn HoTels WIll sURGe aGaIn In 2014asUnionStation’sDoubletreeHotel
completesamajorrenovation;MagnoliaHotelcompletesa$15millionmakeover
andre-brandingoftheformerMayfairHotel;andnewownersbegina$25million
upgradetotheRenaissanceGrandanda$20millionrenovationoftheRenaissance
Suitestoincludeare-brandingasaMarriottCourtyard.
C A Ry GR A nT SU ITe , M AGnOLIA HOTeL S T. LOU IS
U n IOn S TATIOn
Jon
ath
an
S. P
oll
ack
DoWnToWn HoTel benCHmaRks
CateGory 2013 2014-Q1
Occupancy +7.4% +4.5%
AverageDailyRate +5.5% +9.7%
RevenuePer AvailableRoom
+13.3% +14.7%
7BaCK to taBLe oF ContentS
R e ta I L f e n t e R ta I n M e n t
2013 spoRT s aT TenDanCe
team reGuLar SeaSon GameS
totaL attenDanCe
averaGe Per Game
St.LouisBlues 41 698,059 17,025
St.LouisCardinals 81 3,369,769 41,602
St.LouisRams 8 455,675 56,957
Source: eSPn
aTTRaCTInG andretainingqualityshopscontinuestobeachallengeinanevolvingdowntownwithagrowing
butlimitedresidentialpopulation.Nevertheless,oveR 30 neW ReTaIl bUsInesses openeD In THe pasT
yeaR WITH a ConsIsTenT foCUs on DInInG, seRvICes anD enTeRTaInmenT.Changesindowntown
demographicsandcharacteralongwiththecontinuingevolutionofretailarereflectedinrecentretaildevelopment
activitiesdowntown.f Macy’scloseditslandmarkOliveSt.store,continuingthetrendofdepartmentstore
closingsindowntownsthroughoutthecountryincludingHouston,Pittsburgh,Milwaukee,HonoluluandSt.Paul,among
others. TheMXDistrictopenedonWashingtonAvenuewithfournewrestaurants,athreescreenmovietheaterand
twoindependentretailers-TrovaGiftsandtheaward-winningCollectiveatMX.
Pe a BoDY oPeR a HoUS e
CardinalsNationDrunkenFishFoxSportsMidwestLIVE!HowlattheMoonJambaJuiceMajesticAthletic
PBRBarSt.LouisTedDrewesFrozenCustardTengoHambreTengoSedCantinaTheFudgery
reCentLy OPeneD:
BALLPArk ViLLAGe—
$100 million first phase
open March 2014
40 new retAiL
BuSineSSeS since
beginning of 2013.
in DeVeLOPMent:
nAtiOnAL Blues Museum—
$14 Million
Phase One of the long awaited Ballpark Village opened with great success, bringing 100,000sf of restaurants and entertainment to the Ballpark/Cupples Station District.
This summer, Schnuck’s Markets’ Culinaria, the 25,000sf downtown grocery store, will celebrate its 5th anniversary
Since opening in 2012, the Peabody Opera House has hosted some notable acts and productions: Mike Tyson, Chorus Line, Peter and the Starcatcher, Man of La Mancha, Daughtry, Blue Man group, Lewis Black, Gabriel Iglesias, Fun., Lorde, OneRepublic, Roger Daltrey, Jimmy Fallon.
t He M X DI S t R IC t
Ba L L Pa R K V IL L ag e
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o f f I C e
Downtown St. Louis
Class A Vacancy: 14.9%
Class B Vacancy: 27.3%
Source: Cassidy Turley
86,500 workers in
Greater DowntownSource: U.S. Census Bureau, Center for Economic Studies, LEHD
MAjOr 2013 trAnSACtiOnS:
aCQUIsITIon
BuiLDinG name SQ Ft tyPe PurCHaSeD By:
LammertBuilding 160,000 Acquisition TEC/T-REX
301Memorial 42,000 Acquisition 301MemorialLLC
700Market 128,000 Acquisition KomanGroup
le a se
BuiLDinG name SQ Ft tyPe tenant
St.LouisPlace 129,000 Renewal FleishmanHillard
BankofAmericaPlaza 44,000 New Anders
UnionStationPowerhouse 25,000 Renewal EmmisCommunications
GrandCentral 22,000 Renewal MissouriFoundationforHealth
10S.Broadway 110,000 Renewal GreensfelderLaw
Source: Cassidy Turley
STRonGretentionandthegrowthofexistingcompaniesdrovethesecondconsecutiveyearofsubstantial
positiveabsorptionofdowntownofficespace.a TWo yeaR ToTal of 360,000sf of posITIve absoRpTIon
ConTRIbUTeD To a 3.5%reductioninoverallvacancyandaClass a vaCanCy RaTe of 14.9%, THe loWesT
sInCe 2006.However,consistentwithnationaltrendsduringadowneconomy,tenantstendto“tradeup”fromClassB
toClassAspaceresultingintheClassBvacancyrategrowingto27.3%,andcreatingadowntownsub-markettotal
of20.1%.LookformoreClassBbuildingstoconverttoresidentialand/or“creative”officespacetoreduceClassB
inventoryandattractnewtenantstotheirdowntownlocations.
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o f f I C e
City 2013 aBSorPtion(SQ. Ft.)
vaCanCy totaL BuiLDinGS
inventory(SQ. Ft.)
averaGe aSKinG rent
aSKinG rent CLaSS a
CincinnatiCBD 49,169 21% 54 12,941,698 $20 $24
DallasCBD 108,058 27% 22 21,583,437 $23 NotAvailable
DenverCBD 250,075 11% 341 34,392,096 $29 $31
IndianapolisDowntown -9,078 20% NotAvailable 10,553,268 $18 $19
KansasCityDowntown -120,000 30% 52 7,987,000 $17 $19
MinneapolisCBD 322,652 14% 96 27,114,572 $13 $16
St.LouisDowntown 159,248 20% 59 11,123,710 $17 $20
Source: Cassidy Turley
70 0 M a R K e t
In De velopmenT
BuiLDinG name SQ Ft tyPe tenant Date
700Market 128,000 New LacledeGroup 2015
Source: Cassidy Turley
T-REX,theregionaltechnologyentrepreneurshipcenterwaslaunched
intheRailwayExchangeBuildinginSeptember2011asavehicletogrow
thenumberoftechcompaniesandjobsdowntownandcreateabuzz
thatwouldattractyoung,highly-educatedtalent towork(andlive)
downtown.T-REXhasexceededexpectationsandisbeginningtohave
adirectimpactonthedowntownofficemarket.Inthepastyear,t-reX
acquiredandmovedintothe160,000sfLammertBuildingonWashington
Ave.,increasingoccupancythereas THe Home To oveR 100 sTaRTUp
CompanIes anD 250 enTRepReneURs,funders,mentorsandservice
providers.Perhapsevenmoreimportantly,fIve sTaRTUp CompanIes
have recently “graDuateD” frOm t-reX anD are nOw leaSing
neaRly 20,000sf in four nearby DoWnToWn bUIlDInGs .T-REX
founders,strategicpartnersandstakeholdersareworkingtoposition
moreofthesestartupstograduateandgrowasthrivingbusinesses,
leasingspaceindowntownandthroughouttheregion.
L a M M eR t BU IL DI ng
Courtesy of Matt Carpenter
10BaCK to taBLe oF ContentS
t R a n S P o R tat I o n f I n f R a S t R U C t U R e
in DeVeLOPMent:
St. Louis StreetCAr
unDer COnStruCtiOn:
CityArChriVer 2015
$380 Million investment.
COMPLeteD:
StAn MuSiAL VeterAnS
MeMOriAL BriDGe
$667 Million investment.
Completed February 2014.
oveRthepastyear,majorconstructionprojectshaveimprovedtheinfrastructureaffectingaccessandtraffic
patternsdowntown.f TheStanMusialVeteransMemorialBridgeopenedinFebruary,removingtheI-70
trafficloadfromthecrowdedPoplarStreetBridge,whichcontinuestocarryI-55andI-64.Thismajestic,cable-
stayedbridgecreatesanewandinvitingnorthernaccesspointintodowntownviaTuckerBoulevard.Thefour-lane
bridgehassiphonedapproximately40,000carsandtruckseachdayofftheotherdowntownMississippiRivercrossings.
TheDr.MartinLutherKingJr.Bridgewillberepavedinthecomingyear,andtherampsfromthePoplarStreetBridge
intodowntownwillbeimproved.f AspartoftheCityArchRiverinitiative,constructiontoextendthecurrentnational
parkoverthehighwayintodowntownwillcreateapedestrianpathwayforvisitorstomoveeasilybetweentheGateway
Archandthemanyculturalandentertainmentassetsintheheartofdowntown.
moRe on THe HoRIzon Effortstobringamodernstreetcartothestreetsofdowntownarewellunderway.
AfeasibilitystudycommissionedbyTheSt.LouisStreetcarCompanyhasbeencompleted.Nextstepsincludeanother
levelofstudyonthepotentialimpactofamodernstreetcarontheenvironment,theeconomyandthecommunity.The
streetcarwouldconnectdowntown,thecentralcorridorandnorthcity,andcouldspurdevelopmentalongtheroute
ashasbeenthecaseinothercities.f StreetscapeimprovementsalongTuckerBlvdwillenhanceournewentryway
intodowntown.WashingtonAvenue,namedoneofthe10BestStreetsinAmerica,willbeevenbetterwithstreetscape
improvementsanddedicatedbikelanesthatwillbetterconnectdowntowntotheregion’sbikesystem.
S ta n MUS I a L B R IDg e
C it ya rchRiver
S t R ee tC a R
Courtesy of MODOT and IDOT
11BaCK to taBLe oF ContentS
S a f e t Y
in DeVeLOPMent:
new POLiCe
heADquArterS—
2014: $6.3 Million /
143,000sf / 7 stories
In 2013, theDowntownCorecontinuedtobecomesafer.Thecombinedtotalnumberofcrimesfellslightlybetween
2012and2013,and38%since2007.Securitywasenhancedbysupplementalpatrolsofofficersonbicycles,ashas
beenthecaseeveryyearsince2000.In2013alone,bikepatrolsprovidednearly2,200hoursofadditionalservice
overwhatofficersinvehiclesalreadyprovide.f TheDowntownCommunityImprovementDistrictGuidescontribute
tothesenseofsafetyinDowntown.TheprimaryroleoftheseuniformedGuidesistoprovideconciergeservicesto
downtownguests,andtheirpresencesignalstovisitorsthatsomeoneisincharge.TheCIDGuidesalsomonitorthe
systemof84videocamerascoveringDowntown,Laclede’sLanding,theLocustBusinessDistrictandtheRiverfront.In
doingso,theyareoftenabletoassistlawenforcementduringandafteracrimetakesplace.
CRIme s
CombIneD CRIme ToTal foR DoWnToWn CoRe
2000
2200
2400
2600
2800
3000
2013201220112010200920082007
CRImes In DoWnToWn CoRe
DoWnToWn
DoWnToWn We s T
500
750
1000
1250
1500
1750
2000
2013201220112010200920082007
S t L P oL ICe He a DQUa R t eR S
C I t Yg a RDen
12BaCK to taBLe oF ContentS
e D U C at I o n
Dolan & Associates Photography
Over 5,000 students
and 600 Faculty
Downtown
SCHooLS LeveL
DowntownChildren’sCenter Preschool
RainbowCastlePreschool Preschool
FlanceCenter Preschool
CarrLaneVisualandPerformingArts K-8
GatewayElementary/Middle K-8
JeffersonElementary K-8
LafayettePreparatoryAcademy K-8
PatrickHenryDowntownAcademy K-8
SLLIS–FrenchSchool K-8
St.NicholasElementary/Middle K-8
ConfluencePreparatoryAcademy Secondary
LindenwoodUniversity Post-Secondary
SLULaw Post-Secondary
StevensInstituteofBusiness&Arts Post-Secondary
UniversityofPhoenixLearningCenter Post-Secondary
Vaterott-St.LouisRecordingEngineering&Arts(NellyInstitute)
Post-Secondary
WebsterUniversity Post-Secondary
DoWnToWnSt.Louishasseventeeneducationalinstitutionsofferingservicesthatrangefromdaycareto
post-graduateclasses.Nevertheless,theDowntownNext2020Visionestablishedagoaltoseekandsupport
additionaldowntowneducationalopportunitiesatalllevels.In THe pasT TWo yeaRs, DoWnToWn Has
aDDeD twO, highly regarDeD charter elementary SchOOlS (St. lOuiS french language immerSiOn
SchOOl anD lafayette preparatOry acaDemy); a State-Of-the-art early chilDhOOD eDucatiOn
center (flance early learning center); anD the natiOnally recOgnizeD Saint lOuiS univerSity
laW sCHool.WebsterUniversityhasjustannouncedplanstomorethandoubletheirdowntown“GatewayCampus”
witha54,000sfexpansionintotheArcadeBuilding.Planningisunderwayforneworexpandedpresencebyseveral
otherregionaleducationalinstitutions.
S Cot t H a L L : S LU S CHooL of L aw
fL a nCe Cen t eR
tHe PaRtneRSHIP foR Downtown
St. LoUIS SeRVeS aS a CataLYSt for
creating and promoting a downtown
that attracts investment, economic
activity and vibrancy at the hub of our
region. the Partnership also manages
the Downtown St. Louis Community
Improvement District (the CID) that
provides enhanced services to make
Downtown St. Louis a cleaner, safer
and more inviting place.
for information about membership,
please call 314-436-6500 or visit
www.downtownstl.org.
for questions about the State of
Downtown report, call 314-436-6500
or email [email protected].