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moving forward
RESIDENTIAL | 2015
fAf
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STATE OF DOWNTOWN | 2015
moving forward
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TABLE OF CONTENTS1 Year in Review
2 Residential
4 Hotel and Hospitality
5 Retail and Entertainment
6 Office
7 TransportationandInfrastructure
8 Safety
9 Education
10 ContactInformation
DOWNTOWN WEST NEIGHBORHOOD
DOWNTOWN NEIGHBORHOOD
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.
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Downtown continues to attract new residents, ranging from empty nesters to upwardly mobile young professionals. Many college students have also made Downtown their home, with numerous universities establishing or expanding their Downtown presence.
We look ahead to a year of new beginnings in Downtown St. Louis.
OurnationallyrecognizedstartupecosysteminDowntown
alsocontinuesitsrapidgrowthanddiversification,
addingnewbusinessincubators,accelerators,and
venturefunds,alongwithaneverincreasingnumberof
entrepreneurswholiveandworkinDowntown.
DowntownSt.Louishaslongbeenadestinationfor
conventionsandtourism—hostingover24millionvisitorsin
2014.Thehotelandhospitalitymarketexperiencedhealthy
activitylevelsandfurtherenrichedtheproductmixwith
notableopeningssuchastheMagnoliaHotelandongoing
renovationsattheRenaissanceGrandandUnionStation.
CityArchRiver,the$380millionArchgroundsrenovation
project,ismakingrapidprogressandwhencompleted,
willsignificantlyenhancethevisitorexperienceatthe
region’smostimportanttouristdestination.Thestreets
surroundingtheArchgroundsaregettingafaceliftaswell,
includingnewcurbs,way-findingtoolsandbikepaths.
Inadditiontoprofessionalsports,thearts,anditsmany
entertainmentvenues,Downtownhostedover200special
eventsin2014.Thesespecialeventscelebratethediversity,
specialcauses,fitnessgoalsandculinaryfavoritesofthe2.8
millionpeoplewhocallDowntownSt.LouistheirDowntown.
Lookingforwardtothefinishedproductisexciting,but
progresscanbepainful.Theongoingconstructionofbuildings
undergoingredevelopment,streetrepair,andinfrastructure
upgradescanleadtofrustrationformotoristsandpedestrians
alike.DowntownSTL,Inc.,inpartnershipwithCityArchRiver
andMODoT,beganacommunicationprogramcalled,“Getting
AroundDowntown”toassistsworkers,visitorsandresidents
innavigatingtheneighborhood.OurDowntownGuides
continuedtoserveasaresourceforpeopleseekingthe
perfectplaceforlunchorthebestwaytogettotheArch.
Whilethereweremanybeautifulmomentsin2014,periods
ofcivilunrestwereprevalentthroughouttheSt.Louis
region,andDowntownwasnoexception.TheDowntown
community,includingresidents,businessownersand
employees,workedcloselywiththeSt.LouisMetropolitan
PoliceDepartmenttosupportoneanotherandtomitigate
theimpactofthisdifficulttimeinourhistory.
Aswemoveforwardin2015,thepositivemomentumis
promising.Wewillseetheopeningofthehistoric,yetlong-
vacantArcadebuilding.Wewillcelebratethe50thanniversary
oftheGatewayArch.Wewillcontinuetoworktogether
asacommunitytomakeDowntownavibrant,welcoming
andprosperousdestinationforvisitors,businessesand
residents.ItisanewbeginningfortheSt.LouisRegionand
DowntownSt.Louisismovingforwardintheheartofit.
DougWoodruff
President&CEO,DowntownSTL,Inc.
moving forward
YEAR IN REVIEW | 2015
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RESIDENTIAL | 2015
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0
500
1000
1500
2000
2500
3000
3500
In 2014, the number of residential units in Downtown increased by 282 units, including 128 apartments at the Tower at OPOP, resulting in a 5% increase in housing units. The Downtown residential population grew from 7,937 to 8,286 in 2014, an increase of 4%.
Downtown continues to add new housing options and attract new residents.
90.9%92.9%91.1%
91.4%97.8%
Income Restricted
Overall
Rental
Market RateCondo
Thehousingoccupancyrate,thepercentofavailableunitsthatareoccupied,remainedstrongin2014,increasingfrom92%to93%.
Apartmentoccupancyisalsoover91%.WithArcadeApartmentsscheduledtoopenlaterthisyear,andotherresidentialprojects
indevelopment,weanticipatecontinuedgrowthinbothhousingstockandthenumberofpeoplechoosingtoliveDowntown.
2005 20052005
190
2559
741
2006 20062006
371
2710
1079
2007 20072007
503
2661
1957
2008 20082008
687
2801
1831
2009 20092009
833
2942
1728
2010 20102010
833
2776
1723
2011 20112011
918
3459
1727
2012 20122012
919
3442
1682
2013 20132013
863
3600
1645
2014 201420142000
4000
6000
8000
10000
1026
3679
1691
RESIDENTIAL UNITS IN DOWNTOWN CORE
Condominium DowntownMarketRate DowntownWestIncomeRestricted
POPULATION GROWTH IN DOWNTOWN CORE RESIDENTIAL UNITS IN DOWNTOWN CORE
State of Downtown
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RESIDENTIAL | 2015
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moving forward
90.9%Income
Restricted
“MyfamilychosetoliveinDowntownSt.Louisbecauseitistheepicenterof ourregion’sculture,activity,anddiversity.DowntownhasbecomeOURcommunity!”
— Jared Opsal, Chairman, Downtown Neighborhood Association
Tower at OPOP
Ballpark Lofts
Tower at OPOP
Park Pacific view 10th Street Lofts
moving forward
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moving forward
The opening of the beautiful Magnolia Hotel added product variety in the market. Union Station continued adding to its exciting lineup of family fun activities to attract regional visitors.
The Downtown hotel and hospitality market saw good movement over the past year.
TheDowntownSheratonwasrenamedSt.LouisCityCenterHotel,renovationoftheRenaissanceGrandcontinued,andtheCrowne
PlazaHotelannounceditsclosingandconversionofthebuildingtomultifamilyhousing.Inearly2015,itwasannouncedthattheoffice
buildingat705OlivewillbeconvertedtoaMarriottflaghotel,furtherstrengtheningthehospitalityproductmixavailableinDowntown.
TOP HOTELS BY ROOM SIZE
ST. LOUIS CITY & COUNTY TOURISM IMPACT
DOWNTOWN HOTEL BENCHMARKS (CHANGE SINCE PREVIOUS YEAR)
HOTEL NO.
RenaissanceGrandHotel 917
HyattRegencySt.LouisRiverfront 910
HiltonSt.LouisattheBallpark 670
St.LouisUnionStationHotel-Doubletree 537
DruryPlazaHotelattheArch 355
Holiday Inn 295
HoteLumiere 295
St.LouisCityCenter 288
Westin Hotel 255
TOURISM T YPE IMPACT
Visitors $23.9million
VisitorSpending $4.88billion
TourismJobs 85,164
TourismWages $2.78billion
TourismTaxRevenue $925million
Source: St. Louis Convention & Visitors Commission
CATEGORY 2014
Occupancy +0.9%
AverageDailyRate +9.4%
RevenuePerAvailableRoom +10.4%
State of Downtown
HOTEL AND HOSPITALITY | 2015
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Magnolia Hotel
Renaissance Grand
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Several new businesses ranging from restaurants to a comic book store, opened their doors to the residents and visitors of our urban core.
The past 12 months brought significant activation of street-level space in Downtown.
LivemusichasbecomeadominantfeatureinDowntownSt.Louis!EveryFridaynight,STLiveonWashingtonAvenuebringslocalbands
totherestaurantsandbarsonthishappeningstreet.FoxSportsMidwestLive!inBallparkVillagehostsconcertsandliveentertainment
yearround.FortheDowntownworkers,LunchtimeLivefeatureslivemusicandfoodtruckseachweekatOldPostOfficePlazafrom
11:30amto1:30pm.ThemomentumcontinueswiththependingopeningoftheNationalBluesMuseumandnewrestaurantsinthe
MXDistrict.
TheGatewayArchisthebackdropforover200eventshostedinDowntowneachyear,includingorganizedruns,streetfestivalsand
culinarygatherings.
2014 SPORTS ATTENDANCETEAM REGUL AR
SEASON GAMESTOTAL
ATTENDANCEAVER AGE
PER GAME
St.LouisBlues 41 698,059 17,025
St.LouisCardinals 81 3,369,769 41,602
St.LouisRams 8 455,675 56,957
RETAIL AND ENTERTAINMENT | 2015
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BudweiserBrewHouseCardinalsNationDrunkenFishElBirdosCantinaFoxSportsMidwestLIVE!HowlattheMoon
JambaJuiceMajesticAthleticPBRBarSt.LouisTedDrewesFrozenCustardTengoSedCantinaTheFudgery
Ballpark Village —$100 million first phase open March 2014 New retail businesses
since beginning of 2013
40
STLive
Ballpark VillageLunchtime Live National Blues Museum
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BACK TO TABLE OF CONTENTSState of Downtown
OFFICE | 2015
Many of the assets fueling the St. Louis start-up economy are located in Downtown, leveraging the community’s unique combination of live/work opportunities, multi-modal transportation options and varied entertainment venues to create a collaborative environment for propelling ideas forward.
The St. Louis start-up scene continued to receive national attention in 2014 as one of the country’s fastest growing hubs for innovation and entrepreneurship.
LEASE TRANSACTIONSBUILDING NAME SQ FT T YPE TENANT
500N.Broadway 37,840 New Stewart Title Company
GenAmerica 128,250 New LacledeGas
10S.Broadway 39,013 New HOK
BankofAmericanPlaza 36,928 New LacledeGas
Source: DTZ
Workers in Greater
DowntownSource: U.S. Census Bureau,
Center for Economic Studies, LEHD
86,500
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ACQUISITION TRANSACTIONSBUILDING NAME SQ FT T YPE PURCHASED BY
2N.JeffersonAvenue 84,370 Acquisition GreenStreetRealty
Source: DTZ
Lammert Building T-Rex Arcturis
ClassBofficespacehasbeenprimepropertyforstart-upbusinessesoutgrowingtheir
incubator/co-workingspace,bolsteringnetabsorptionofClassBspacedowntown.
Downtownremainstheregion’slargestemploymentcenterwithover80,000employeesand6.8millionsquare
feetofClassAofficespace.In2014severallargeemployers,includingLacledeGroupandHOK,recommitted
toDowntown,signingnewlong-termleasestotakeadvantageofthemarket’sreasonablerents,connectivity
topublictransportationandcentralconveniencetobothMissouriandIllinoisresidentialmarkets.
Evenastheeconomycontinuedtoimprovein2014,theDowntownofficemarketlaggedsomeofitsnationalpeersinnetabsorption
andgrowth.TheDowntownofficevacancyrateended2014at21.3%.In2014therewasacontinuedtrendtoconvertunderperforming
officebuildingstomixed-usepropertiesofferingbothresidentialandcommercialspace.Thistrend,whichmirrorseffortsinother
traditionalDowntownofficemarkets,willhelpreduceofficevacancyratesandaddDowntownresidentialdensityovertime.
Popular Mechanics Names St. Louis
the No. 1 Startup City in America
COMPARISON AREASCIT Y 2014 ABSORPTION
SQ/FTVACANCY TOTAL
BUILDINGSINVENTORY
(SQ/FT)AVG ASKING
RENTASKING RENT
CL ASS A
CincinnatiCBD 284,660 20.0% 54 12,950,785 $18.18 $22.22
DallasCBD 889,127 24.2% 79 27,541,802 $21.32 $23.36
DenverCBD 542,399 12.1% 351 30,476,877 $31.38 $33.21
IndianapolisDowntown (199,759) 21.7% 67 9,678,134 $16.75 $19.07
KansasCityDowntown (33,000) 23.4% 50 11,970,000 $17.50 $19.02
MinneapolisCBD 321,570 13.4% 95 26,557,607 $27.36 $30.86
St.Louis (121,748) 21.3% 58 11,063,710 $16.76 $19.69
Source: DTZ
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TRANSPORTATION AND INFRASTRUCTURE | 2015
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Workers in Greater
DowntownSource: U.S. Census Bureau,
Center for Economic Studies, LEHD
86,500
CityArchRiver construction is well underway evolving the arch grounds and surrounding ingress and egress. There has been significant focus and investment to improve the experience for pedestrians, bicyclists and motorists.
The landscape of Downtown St. Louis is changing…both literally and figuratively!
TomakegettingaroundDowntowneasier,severalimprovementshavebeenmade.Newcurbswereinstalledatintersectionsalong4th
StreetandBroadway.AfreeshuttleisnowinservicetobetterconnectpeopletotheArchgroundsandsurroundingdestinations,suchas
Laclede’sLanding,theOldCourthouse,theOldCathedralandtheRiverboats.
Aspartof“BikeSt.LouisPhase3,”newbikelanes,streetmarkingsandamenitieshavebeenadded,suchasbikeracksonparkingmeter
polesandalargebikecorralinfrontofCulinaria.
In2014,theTreasurer’sofficeconductedatestofnewparkingtechnologyinDowntownresultinginourtransitiontodigitalpayment
options.Parkmobile,asmartphoneapplicationthatdeliverstheconvenienceofmobilepayments,isnowavailableinsectionsof
Downtownandinstallationofnewparkingstationsthattakemanyformsofpaymentisunderway.
“TheCityArchRiverprojectistransformingthegroundssurroundingtheGatewayArch,connectingournationalmonumenttoDowntown,throughinfrastructureimprovements,
landscapingand7+Milesofneworrenovatedpedestrianandbikepaths.” — Maggie Hales, Executive Director, CityArchRiver 2015 Foundation
St. Louis Metro
Parking Meter Bike Rack Bike RackBike StationCitygarden
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BACK TO TABLE OF CONTENTSState of Downtown
SAFETY | 2015
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In response to the civil unrest that took place throughout the St. Louis region in 2014, Downtown STL, Inc. worked closely with the St. Louis Metropolitan Police Department (SLMPD) to ensure that workers, visitors and residents of Downtown were safe and informed.
Creating a safe and inviting environment is a top priority for Downtown.
Duringperiodsofunrest,informationfromSLMPDwasdisseminatedthroughemailcommunicationsbyDowntownSTL,Inc.Regular
meetingswereheldwithsecuritypersonnelfromareabusinesses.Policecoverageincreasedaccordingtointelligenceandinresponse
toissuesandconcerns.
AsDowntownmovesforwardin2015,severaladjustmentshavebeenmadetoensureDowntownisaplacethateveryonefeelssafe
toenjoydailyliving,workingandentertainment.TheSLMPDhasimplementedaCommunityPolicingmodel,whichstrengthensthe
relationshipbetweenpoliceandthecommunity.Thereareofficersdedicatedtoensuring“QualityofLife”inDowntown,addressing
nuisancecrimesthatcanimpedeanenjoyableexperienceorcausepeopletofeelunsafe.LicensePlateRecognitioncamerashavebeen
installedtoassistlawenforcementinpreventingandsolvingcrimes.
WovenintothefabricoftheDowntownexperiencearetheDowntownGuidesandtheCleanTeam,fundedbytheDowntownSt.Louis
CommunityImprovementDistrict.TheGuidesprovidebothconciergeservices,suchasdirections,andserveasextraeyesandearson
thestreet,workingcloselywithSLMPDtoidentifypotentialissuesorconcerns.
Citygarden
St. Louis Metropolitan Police Downtown Guides
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EDUCATION | 2015
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Webster University has housed their Gateway Campus in Downtown St. Louis since 1974. When the Old Post Office was renovated in 2006, Webster University moved into this historic building in the heart of Downtown.
Universities add vibrancy, culture and diversity to the urban core of great cities across the country.
In2015,WebsterUniversitywillexpanditspresenceinDowntownasatenantintheArcadebuilding;rightacrossthestreet
fromtheOldPostOffice.
Otherpost-secondaryschoolsthathaveestablishedapresenceinDowntowninclude;LindenwoodUniversity,SaintLouis
CommunityCollege,StevensInstituteofBusiness&Arts,UniversityofPhoenixLearningCenter,VatterottCollege-ex’treme
InstitutebyNelly,andSLULaw.
Over
Students and
Faculty
5,000
600
Webster University
Flance Center SLU - Law SchoolArcade Building
moving forward
“WebsterUniversityiscommittedtoDowntownSt.Louis.There’savibrancyDowntowninthewalkingenvironmentthat’spalpable…onecouldwalkdownthestepsandgo
fromyourlivingspacetoyourworkingspaceandyourlearningspaceallinonebuilding.WeareexcitedfortheexpansionandourfutureinDowntownSt.Louis.”
— Elizabeth Stroble, President, Webster University
State of Downtown
RESIDENTIAL | 2015
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Downtown STL, Inc. serves as the catalyst for creating and promoting a
Downtown that attracts investment,
economic activity and vibrancy at the
hub of our region. We also manage
the Community Improvement District,
which supplements city 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 research@downtownstl.org.
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