New plans for Union Station....sounds different... (Kansas City, Lambert: sales, hotel)

[MUTGR]

http://www.bizjournals.com/stlouis/m...n-station.html

Hadn't see this discussed.

[mjtinmemphis]

Originally Posted by MUTGR

http://www.bizjournals.com/stlouis/m...n-station.html

Hadn't see this discussed.

I think its a good idea. A destination hotel type place is good for Union Station. The concept isn't something you will see in Indianapolis, Nashville or Kansas City.

By Metrolink being at Union Station gives it an extra boost having access to other attractions like Bush Stadium, Riverfront, Forest Park, Galleria, National Blues History museum and Lambert.

We've got many great things going for us in this ole rust belt city that could make us a fantastic regional destination at the very least that no other cities have outside of Chicago within a 400 mile radius.

[msamhunter]

Originally Posted by mjtinmemphis

I think its a good idea. A destination hotel type place is good for Union Station. The concept isn't something you will see in Indianapolis, Nashville or Kansas City.

By Metrolink being at Union Station gives it an extra boost having access to other attractions like Bush Stadium, Riverfront, Forest Park, Galleria, National Blues History museum and Lambert.

We've got many great things going for us in this ole rust belt city that could make us a fantastic regional destination at the very least that no other cities have outside of Chicago within a 400 mile radius.

Besides the crowne plaza at union station with train car hotel rooms. The stl concept could work barring what's nearby. Indy us used to have the family theme until circle city mall killed it but the grand hall still used for events plus it is a train station still.

[Chicago76]

Originally Posted by msamhunter

Besides the crowne plaza at union station with train car hotel rooms. The stl concept could work barring what's nearby. Indy us used to have the family theme until circle city mall killed it but the grand hall still used for events plus it is a train station still.

Was about to say the same thing until I paged down. Indy also has Georgia Street as a flexible space for street fests and concerts adjacent to Union Station.

I like the general idea presented by LHM, but we're really just talking about variations on similar themes for similar spaces around the country. The plan seems to be fairly cohesive and it includes a longer list of potential attractions, but the underlying weakness of Union Station in STL continues to be location. There is nothing else around it apart from some government buildings and greenspace to the north. The Market St. streetscape pretty much sucks for pedestrians. I'd like to see a mixture of uses developed as part of a cohesive plan to anchor the site with better support.

Time will tell, but I'm skeptical.

One thing I came across a couple days ago was a concept for an MLS facility whose form would fit nicely next to the train shed:

SPACE Architecture + Design | An MLS Stadium as Better Urban Infill and the

Yeah, I know we just went through the fatigue of the Rams stadium, but the dollars probably work for this much better. For the riverfront stadium to have been taken seriously, we would have needed to pump in an extra $100 million to offset what we were asking from the NFL in excess of what they provide within their standard stadium packages. We also would have needed to cover cost overruns, which would have been another $50 million conservatively.

The true cost of the stadium (net of state funding, PSLs, naming rights, and he who shall not be named's hypothetical contribution) would have been in the range of $250 million for the NFL stadium with no ability to use tax funds to offset the cost (because the NFL keeps that).

Total cost of an MLS venue would be $150 million. Including naming rights and a greatly diminished state contribution, we'd be looking at $115 million. LHM is spending a fortune to upgrade Union Station and they went on record as wanting an MLS stadium on the site originally. You can bet they'd love to have over 300,000 visitors from MLS a year. That number of people at 20 bucks a head in retail/bar spending would equate to an appreciation in the property of over $100 million. If they chipped in $60 million, that's still a great return for them. With sports fans from the county no longer contemplating those PSLs the Rams were going to require for the new stadium, it would probably be much easier to go back to the well with the county and get $15 million.

The city's cost would be down to $40 million, which would be completely manageable, considering they would get to keep the ticket and sales tax revenue, they'd get to anchor Union Station with something that guarantees attendance, and they'd have the opportunity to maybe go out and get some TOD funding to start to build some things up around the MetroLink stop there.

[mjtinmemphis]

Originally Posted by Chicago76

Was about to say the same thing until I paged down. Indy also has Georgia Street as a flexible space for street fests and concerts adjacent to Union Station.

I like the general idea presented by LHM, but we're really just talking about variations on similar themes for similar spaces around the country. The plan seems to be fairly cohesive and it includes a longer list of potential attractions, but the underlying weakness of Union Station in STL continues to be location. There is nothing else around it apart from some government buildings and greenspace to the north. The Market St. streetscape pretty much sucks for pedestrians. I'd like to see a mixture of uses developed as part of a cohesive plan to anchor the site with better support.

Time will tell, but I'm skeptical.

One thing I came across a couple days ago was a concept for an MLS facility whose form would fit nicely next to the train shed:

SPACE Architecture + Design | An MLS Stadium as Better Urban Infill and the

Yeah, I know we just went through the fatigue of the Rams stadium, but the dollars probably work for this much better. For the riverfront stadium to have been taken seriously, we would have needed to pump in an extra $100 million to offset what we were asking from the NFL in excess of what they provide within their standard stadium packages. We also would have needed to cover cost overruns, which would have been another $50 million conservatively.

The true cost of the stadium (net of state funding, PSLs, naming rights, and he who shall not be named's hypothetical contribution) would have been in the range of $250 million for the NFL stadium with no ability to use tax funds to offset the cost (because the NFL keeps that).

Total cost of an MLS venue would be $150 million. Including naming rights and a greatly diminished state contribution, we'd be looking at $115 million. LHM is spending a fortune to upgrade Union Station and they went on record as wanting an MLS stadium on the site originally. You can bet they'd love to have over 300,000 visitors from MLS a year. That number of people at 20 bucks a head in retail/bar spending would equate to an appreciation in the property of over $100 million. If they chipped in $60 million, that's still a great return for them. With sports fans from the county no longer contemplating those PSLs the Rams were going to require for the new stadium, it would probably be much easier to go back to the well with the county and get $15 million.

The city's cost would be down to $40 million, which would be completely manageable, considering they would get to keep the ticket and sales tax revenue, they'd get to anchor Union Station with something that guarantees attendance, and they'd have the opportunity to maybe go out and get some TOD funding to start to build some things up around the MetroLink stop there.

This would be nice for Union Station and Downtown.