Thanks to a mild winter, Dominium Development expects construction on the Arcade Building, located at 800 Olive St. in downtown St. Louis, to be completed on schedule by early December.
The $118 million project is transforming the long-empty, 18-story structure, which will be home to Webster University and apartments when it is completed.
According to Jeff Huggett, partner and vice president at Minneapolis-based Dominium, the building was in very rough condition.
"It required a complete gut for the renovation," Huggett said, noting that the century-old building has been vacant for 20 years.
Dominium purchased the building in June 2013 for $9 million from the city of St. Louis' Land Clearance for Redevelopment Authority. While the company has worked on several projects in the area since 2001, the 500,000-square-foot Arcade Building will be the largest local project to date.
Work on the structure began in August 2014 and is about one-third complete, according to Huggett.
Once reopened, the Arcade will feature 282 apartments beginning on the fourth floor and rising to the 18th. Of those apartments, 202 will be artist lofts, with an additional 80 apartments going for market-rate which is in the vicinity of $850 per month.
Jason Szachnieski, the senior project manager for Paric, said there have been no surprises on the project.
"Thankfully, we did our due diligence in the beginning and haven't run into any problems along the way," Shenetsky said. "We've already started finishes on the 18th floor and are working down from there on the interior," Szachnieski said, noting that 175 tradesman are working on the project daily. Finishes include drywall, paint and cabinets for the apartment levels.
Currently, plumbers are working to drill holes and stub out pipes for fixtures throughout the building. The parking garage that is housed in the basement is not yet complete. All windows have been replaced down to the 15 floors and exterior masonry repair is ongoing.
Webster University, the only commercial tenant, will occupy the lower three floors of the building for classes, but specific terms of the 20-year lease were not disclosed.
The building originally housed an eight-story shopping arcade, one of the first of its kind and likely a predecessor to the modern-day indoor shopping malls.
The area where Webster University students enter will be the original arcade itself on Olive St. It is a striking room with 35-foot-tall, barrel-vaulted ceilings. All the marble, terracotta and original woodwork will be restored, according to Huggett.
"Clear down to the wrought iron and plaster — everything is being restored to it's original condition," he said.
The school also will occupy the former storefronts at street-level that faced Olive and 8th streets, with plans for a 6,000-square-foot art museum on the north and east sides of the street-front space. Along the southeast corner will be a café. Webster University offices will line the remainder of the south side of the campus. Additionally, a 160-seat auditorium for the university will be housed in the portion of the building occupied by Webster University as well.
The second floor will house 12 classrooms, two study labs and lounge areas.
In addition to preserving the historic design, the rehab will include modern improvements, such as all-new wiring. The upper floors are taking on a new look as they are being redesigned into apartments.
Huggett added that the building would feature an "awesome" 4,000-square-foot rooftop deck for use by the tenants of the building.
St. Louis firm Ebersoldt + Associates is handling the architectural work on the project. The general contractor is Paric, which has extensive experience in redevelopment work downtown with the Bee Hat Lofts and the Peabody Opera House. Trivers Associates is handling the specific architectural work for Webster University's needs.
The $118 million Arcade project involves a mix of federal and state historic tax credits and New Markets Tax Credits through U.S. Bank (about $78 million); loans (including one for $13 million from BMO Harris Bank); mortgages (including $4.2 million from the city of St. Louis and $4.2 million from the Missouri Housing Development Commission); and an investment from Webster University ($4 million).
The Arcade Building actually is comprised of two buildings, joined nearly 100 years ago. The 18-story Wright Building was completed in 1906, and the Arcade Building was built around it in 1919.
Click here to watch video on KSDK.comDengan RTP tinggi, slot ini memberi kesempatan menang lebih sering bagi para pemain. Rasakan sensasi kemenangan yang datang di setiap putaran. RTP slot tertinggi adalah pilihan terbaik untuk para pemain yang ingin menikmati permainan berkualitas dengan peluang menang besar. Segera daftar dan jadilah bagian dari para pemenang kami. Menangkan hadiah besar dalam setiap permainan yang Anda mainkan!
Permainan slot dengan deposit rendah seperti Slot Depo 5k menjadi pilihan utama bagi pemain yang mencari hiburan ekonomis namun tetap menarik. Dengan modal kecil, peluang menang besar tetap terbuka lebar.
Situs Slot Gacor selalu memberikan promo menarik untuk meningkatkan peluang kemenangan pemain. Slot 777 sering mendapatkan tambahan bonus yang bisa digunakan untuk bermain lebih lama. Bonus harian, mingguan, dan bulanan selalu tersedia bagi pemain aktif di platform ini. Dengan adanya promo ini, pemain bisa lebih leluasa menikmati permainan dengan modal yang lebih besar. Semua ini membuat Situs Slot Gacor semakin menarik bagi para pencinta slot online.
Berharap menang besar di permainan togel bukan lagi sekadar mimpi. Beberapa platform kini menyediakan Togel Hadiah Terbesar, memberikan peluang bagi Anda untuk mendapatkan bayaran fantastis dengan angka yang tepat. Bermain dengan disiplin adalah kunci suksesnya.
Bermain Toto togel membutuhkan pemahaman dasar tentang aturan permainan dan jenis taruhan yang tersedia. Pemula sebaiknya memahami cara memasang taruhan 4D, 3D, dan 2D untuk memaksimalkan peluang menang. Selain itu, mempelajari pola angka yang sering muncul dalam data keluaran sebelumnya dapat menjadi strategi yang efektif. Menggunakan prediksi togel dari sumber terpercaya juga bisa membantu dalam memilih angka terbaik. Dengan memahami mekanisme permainan, pemain dapat meningkatkan peluang untuk mendapatkan keuntungan lebih besar.
Dalam permainan Toto Macau, menganalisis Live Draw Macau adalah langkah penting untuk memahami tren angka yang sering muncul. Keluaran Macau yang diumumkan setiap hari memberikan gambaran jelas tentang pola yang dapat dijadikan acuan dalam menentukan Result Macau berikutnya. Dengan memantau Live Draw Macau secara rutin, pemain dapat mengembangkan strategi Toto Macau yang lebih baik dan meningkatkan peluang kemenangan. Oleh karena itu, memahami pola Keluaran Macau berdasarkan Result Macau sebelumnya adalah kunci utama bagi para pemain yang ingin sukses dalam permainan ini.
Banyak permainan toto slot modern yang kini menawarkan fitur buy bonus yang memungkinkan pemain langsung masuk ke dalam mode bonus tanpa harus menunggu scatter muncul. Situs slot toto dengan fitur ini memberikan fleksibilitas bagi pemain yang ingin segera mendapatkan kesempatan menang besar. Toto togel mungkin lebih mengandalkan keberuntungan dalam pemilihan angka, tetapi dalam toto slot, fitur ini bisa menjadi strategi cepat untuk meraih keuntungan. Meskipun fitur ini memerlukan biaya tambahan, hasil yang didapatkan sering kali lebih besar dibandingkan taruhan biasa. Dengan strategi yang tepat, fitur buy bonus bisa menjadi alat yang sangat menguntungkan bagi pemain.