MARKET OVERVIEW
Downtown St. Louis, the geographic and economic center of the 18th largest metro area in the United States (population 2.8 million), is experiencing a dramatic renaissance that has been honored with national and international awards and recognized in prominent media throughout the US. Since the Downtown St. Louis Development Action Plan was adopted in 1999 - Total Investment - $4.6 Billion spent or committed w/ $900+ million currently in development- Latest development highlights include: new Busch Stadium (2006), the Old Post Office (2006), Lumiere Place -Pinnacle Casino/Four Seasons Hotel (2007), Post Office Plaza (2008), Multi-modal Transportation Center (2008), Federal Reserve Bank Expansion (2008), Ballpark Village - Retail, Residential, Hotel (2009), Urban Gardens (2009); Mercantile Exchange District - Residential, Office, Hotel, Retail (2010); Centene Center – Office/Retail/Parking (2010)
Residential Rebirth - $1.44 Billion spent or committed w/ $500+ million in development- 59 additional properties (4300 units) opened or under construction / 1500 units in development
Hotel Development - $513 Million spent or committed for new construction and renovation- 50% Growth - 2800 rooms/8 new hotels incl. Four Seasons, Westin, Renaissance, Sheraton, Hilton
- 5 additional hotels / 900 rooms (4 new-to-the-market brands) currently in development
Retail Revival – 80 new shops, restaurants and services (300,000+ sf) open or committed since 2003- 500,000+ sf of additional street level retail space in development and planned to open by 2010
Office Expansion/Renovation - $685 million in new office construction and renovation- Includes new construction Class A headquarters office tower(s) planned for Ballpark Village
New Streetscapes/Plazas/Parks – Over $50 million spent/committed and $30+ million in developmentAwards/Recognition - World Leadership Award for Urban Renewal by the World Leadership Forum
- Entrepreneurial Leadership Award by the Partners for Livable Communities
- Preserve America Presidential Award by President Bush and Dept.of the Interior
- Positive media impressions in national publications including the New York Times, Wall Street Journal, USA Today, Boston Globe, Associated Press, Planning, Fortune, among others.
The Downtown St. Louis AdvantageEconomic Center of the Region- 11 million sf of Class A and B office space – Largest inventory of contiguous Class A space in the region plus new, creative spaces in historic, mixed-use renovations.
- 1,700 businesses - anchored by Government Services (17.8%); Professional, Scientific and Technical Services (15.3%); Finance and Insurance (13.2%); Hospitality (10.7%) and Information (10.2%).
- National or regional headquarters for numerous Fortune 1000 companies including: Ameren, AT&T, Bank of America, Blue Cross/Blue Shield, Centene, CPI Corp., Fleishman Hillard, HOK, Macy’s, NestlePurina, Peabody Energy, Ralcorp, U.S. Bank and Wachovia, among others.
- Great for small business & entrepreneurs – 80% of downtown offices have 25 or fewer employees
Large, Diverse Marketplace w/Total Avg. Daily Population of 131,000+- Residential Population - 10,000 (8,000 in 2000 - 13,000 in 2010)
- Worker Population – 88,000
- Daily Hotel Guests – 6,000
- Event/Attraction Visitors Annually – 25 million+ = 27,400 daily
Central Location and Easy Access – Close to customers, employees and multiple markets- Convergence of four interstate highways ( 64/40, 70, 44, 55)
- Multi-modal transportation hub -Amtrak, Greyhound, Metrolink (light rail), Metro (bus)
- Close proximity to Lambert International Airport and Downtown St. Louis Airport
- Closest business center to substantial and growing employment base in Southern Illinois
High Quality Infrastructure- State-of-the-art telecommunications services, fiber-optic systems and redundant power
Convenience/Amenities- Walk to rapidly expanding number/variety of shops, restaurants, services
- Close to sports, attractions and events
Dynamic and Creative Environment- A mix of historic and modern architecture
- Investment/Development and Construction occurring throughout downtown
- New streetscapes, upgraded and expanded landscaping, new parks and public spaces
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