Quote:
Originally Posted by LAsam
That's an interesting point and could definitely speak to why the value is so diminished. It's odd though that AT&T would need the same amount of parking for a downsized office workforce. I'd think they could work out an arrangement to lease some presumptively excess parking back to whomever takes over the old AT&T tower.
|
They honestly don't need the amount of parking that they have. They have a parking garage comparable to what you see sitting next to a stadium. I honestly wouldn't be surprised if some of the previous redevelopment plans fell through because they weren't willing to come to an agreement with the developers about lot sharing.
Quote:
Originally Posted by edale
This is something I've posited for a while about Downtown St. Louis. It's increasingly becoming less central in the region, as the money and population continues to drift west. If East St. Louis and the IL side generally was healthier and wealthier, DTSL would no doubt also be healthier. I've seen this first hand with Cincinnati and Northern Kentucky. There is a significant amount of wealth, employment, and regional points of interest (obviously including the intl airport) in Northern Kentucky, and that has helped to keep Downtown Cincinnati and inner core neighborhoods relevant, even as sprawl continues its northern march to Dayton.
|
I am honestly not the most objective person regarding this since I am originally from the Metro East, but the area is still relatively stable. The decline in overall population hasn't been massive, and it might be even less since the Census Bureau has admitted that they badly undercounted Illinois overall. They didn't bother to update any of their official numbers though after admitting that Illinois likely surpassed 13 million residents in 2020.
That aside, the Metro East does have wealthy communities, and new subdivisions keep springing up. In terms of employers, Scott Air Force Base remains a huge draw. The area also has SIUE being a big draw in terms of local regional public universities.
As for ESTL, I honestly have the opposite opinion of you. I think there might be more push to redevelop ESTL and the surrounding inner ring communities if St. Louis itself was doing better. They don't have the tax base to do it on their own, and they all sit in flood plains. You have to get to the second ring communities on tops of the hills and bluffs to exit said flood plains, and those are the communities that seem to be seeing renewed interest due to their ease of access to STL and older homes.
For years the narrative has been that Illinois is more expensive than Missouri due to its real property taxes, but those are all city specific. It's starting to become realized that Illinois can be cheaper or on par with Missouri depending on where you move, what type of car you drive, etc. For being Republican controlled, Missouri will hit you hard with taxes. It's the worst of both worlds, honestly.
Quote:
Originally Posted by edale
South Jersey has a ton of wealth and lots of healthy communities. The IL side of the STL metro is very spread out without much of a center, and as bad as Camden might be, it's 100 times better than East St. Louis, which is probably tied only with Gary, IN for decimation. Philly also never lost in-town wealth like St. Louis did. There's no Rittenhouse Square in St. Louis.
|
I'd honestly say that ESTL is worse than Gary. There's just honestly not much left of its urban glory heyday. The most intact areas are further away from downtown ESTL, and they're predominated by 1940s and 50s ranch style homes. You are also correct that the Metro East doesn't have a real center of gravity anymore. It all just operates rather independently. You still have a ton of people commuting into St. Louis city and county for work though, even in the rural communities. This is honestly why St. Louis' MSA reaches so far into Illinois farm country.
As for St. Louis itself, I think you are selling the city short. The days of wealth not being in the city anymore are long gone. The Central West End has a ton of money, but also a ton of broke students in studios. Compton Heights, Lafayette Square, city portions of Demun and Wydown-Skinker are all quite monied as well.
Prev
Linear Mode
