Downtown STL, Inc. Annual Report - 2016
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Transcript of Downtown STL, Inc. Annual Report - 2016
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7/25/2019 Downtown STL, Inc. Annual Report - 2016
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STATE OF DOWNTOWN
innovation
State of Downtown | 2016
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7/25/2019 Downtown STL, Inc. Annual Report - 2016
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STATE OF DOWNTinnovation
DOWNTOWN CORE:
The Downtown Core is comprise
of St. Louis City neighborhoods
Downtown and Downtown Wes
GREATER
DOWNTOWN ST. LOU
Greater Downtown St. Louis is
comprised of those U.S. Census
with the greatest concentration
employment in our urban core.
Year in Review Infrastructure &Transportation
Residential Safety Hotel &Hospitality
EducationRetail &Entertainment
ContaInforma
Jobs, Talent &Ofce Space
01
06
02
07
03
08
04
0 9
05
table of contents
GREATER DOWNTOWN ST. LOUIS
DOWNTOWN WEST
NEIGHBORHOOD
DOWNTOWN
NEIGHBORHOOD
Cole
Chouteau
Je
ff
er
son
DOWNTOWN
CORE
Downtown St. Louis is the regions hub for tourism,
dining and entertainment. Whether youre a permanent
resident or in town for a day, Downtown has plenty of
activities, lled with culture and fun for all! Downtown
is home to 200+ annual events, delicious eateries and
numerous attractions. St. Louis is a culture of diversity,
vibrancy and art; embrace our city's beauty in the
heart of itWelcome to Downtown St. Louis!
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STATE OF DOWNTinnovation
In 2015, Downtown St. Louis took a big leap forward.
Our residential population grew by 7%, the largest
increase in 10 years. The Downtown Innovation
Community continued to ourish with nearly 50 new
companies, the announcement of the opening of the
St. Louis Fashion Incubator in the fall, and a growth
target that will further establish the St. Louis region
as one of the best start-up cities in the country.
As the fastest growing neighborhood in the city
of St. Louis, we have attracted the upwardly mobile
young professionals, families and empty nesters. Many
college students have also made Downtown their home,
with numerous universities establishing or expanding
their Downtown presence.
The density of people created by a growing
residential population is critical to attracting retail
establishments and companies seeking a deep talent
pool, as well as the perception of a safe and vibrant
urban core. People who choose to live in an urban
center are often seeking a walkable and cycling-
oriented community with inspiring public spaces, such
as the beautiful Arch grounds and trails currently under
renovation. The appeal of Downtown as a neighborhood,
business district and tourist destination improves daily
as the CityArchRiver project hits major milestones.
The forward momentum in the development market
includes projects announced or underway that total
nearly $1B, such as the redevelopment of signature
buildings like Jeerson Arms and Railway Exchange.
Discussions are underway about new construction of
the rst new oce building in almost thirty years.
Now, that is momentum!
Securing the near north side as the site of the new
location for the National Geospatial-Intelligence
Agency (NGA) will likely be remembered as one of
the most signicant wins of 2016 for the St. Louis
region. Downtown stands to benet greatly from
NGA's proximity to our merchants, housing and
amenities. We look forward to being the home
and playground for NGA employees and a source
of new talent in support of their expansion.
With rapid growth comes challenges and Downtown
St. Louis has their share of both. We continue to ght
the negative perception of decline and high crime. Our
infrastructure is in need of investment. Downtown STL,
Inc. is collaborating with residents, businesses and
organizations across the region to address these issues,
some of which can be addressed relatively quickly and
others that will require long-term systemic change.
It is my privilege to work with the many people and
organizations who have stepped forward to craft
solutions for our challenges, most especially the
sta and members of Downtown STL, Inc.
Heres to another prosperous, challenging, and
energizing year in the heart of our region!
Downtown oers a unique living experience, one t hat
is in demand with both Millennials and older adults who
are seeking alternatives to the sprawl of the suburbs.
The eciency and health benets of being able to walk
or bike to work, to the grocery store, to entertainment
and back home attracts innovators and entrepreneurs.
Access to public transit, modern amenities and inspiring
public spaces are highly valued by the next generation
of home buyers and down-sizers.
In 2015, Downtowns residential housing market
continued to build momentum. Over the last ve years,
the Downtown population has grown by over 32%.
On average, Downtown occupancy rates increase by
approximately 5%, but last year Downtowns residential
population expanded 7% to include over 600 new
residents. The Arcade and Station Plaza opened their
doors and quickly lled up their array of new and unique
residential units. Recently announced residential projects
in unoccupied buildings, including the Monogram
(former CPI building), have illuminated the resiliency
of Downtowns residential market.
An increase in condominium sales also showed signs of
growth; 118 units sold in 2015, which is an 18% increase
from the year before. Average sale prices also went up
by 1% and average days on the market went down by
4% during that same period.
Downtown is theFastest GrowingNeighborhood inthe STL Region
2014
P op ul at io n To ta l 8, 28 6
12 month Population Growth 319
Growth Rate 4%
Number of Units 6,396
Total Occupancy Rate* 92.9%
Affordable Apartments 90.9%
Market Rate Apartments 91.4%
Condominiums 97.8%
Source:Downtown STL, Inc., 2016 Housing Survey*Includes only buildings open 12 months or more as of M
Population Growth Rate
Downtown Forward
Missy Kelley
President & CEO, Downtown STL, Inc.
YEAR IN REVIEW RESIDEN
Downtown Core Population
STATE OF DOWNT
10,000
9,000
8,000
7,0006,000
5,000
4,000
3,000
2,000
1,000
0
'05 '06 '07 '08 '09 '10 '11 '12
year
Source:Downtown STL, Inc., 2016 Housing Survey
Downtown STL CoreResidential Occupancy Growth
Sources:1) U.S. Census Bureau, Population Division, Annof the Resident Population: April 1, 2010 to J
2) Downtown STL, Inc., 2016 Housing Survey
10%
8%
6%
4%
2%
0%
-2%2011 2012 2013 2014
Downtown St. Louis Core St. Louis City
Downtown STLDemographics:
AGE
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STATE OF DOWNTinnovation
Convention and hotel business brings $5.4 billion in economic impact to St. Louis annually
and Downtown STLs hotel market experienced remarkable growth in the past 12 months.
Last year more than 469,000 room nights were booked at Downtown hotels. This reected
an increase of 30,000 over the prior y ear. Recent announcements of three boutique hotels
proves that the Downtown hotel market still has the capacity for growth. With the Dome at
Americas Center now available for rent year-round, the marketers at Explore St. Louis began marketing
the space to even larger conventions and planning for the next phase of renovations and development.
It will become even more important than ever to maintain and advance the quantity and quality of
hotel rooms, ballrooms and meeting spaces.
Downtown is the Gateway to theSTL Region for Millions of Visitors
Downtown Food & EntertainmentVenues are Strong and Growing Stronger
917 910
670
537
355295 295 288
255
Marriott
St.Louis
Gran
d
HyattR
egen
cy
St.Louis
Riverfr
ont
Hilto
n
St.Louis
attheB
allpa
rk
Doubletree
St.Louis
Union
Station
Hotel
DruryP
lazaH
otel
attheA
rch
Holid
ayInn
attheC
onve
ntion
Center
St.Louis
City
Center
Hotel
Westin
Hotel
HoteLu
miere
2014 2015 %Change
Total number of Rooms 7,009 7,172 2.33%
Average Daily Rate $ 131.88 $ 138.21 4.80%
nue Per Available Room $ 87.14 $ 88.86 1.97%
HOTEL & HOSPITALITY RETAIL & ENTERTAINM
The weekly outdoor concert series Lunchtime
Live attracts hundreds of residents, visitors and
workers to enjoy live music and food at the
Old Post Oce Plaza each Friday, May
through September.
Young Friends of Downtown draws from its
membership of over 200 Downtown advocates
under the age 40 to convene at Micro Mondays,
a happy hour the rst Monday of each month.
Each winter Downtown STL, Inc. and the Building
Owners and Managers Association host a luncheon
of 400+ developers, designers and occupants to
highlight trends in Downtown development.
At the end of the scal year Downtown
STL, Inc. hosts an annual event to salute the
accomplishments of the past year, focus on the
year ahead, and present the John H. Poelker
Levee Stone award for the business leader making
signicant contributions to Downtown.
Of the over 300 restaurants and bars currently located in Downtown STL, more than 20 restaurants
opened, relocated, or expanded last year. Some notable highlights include: Gioias Deli, Broadway
Oyster Bar, Shift, Test Kitchen, The Kitchen Sink, Porano, Tim Hortons, Start Bar, Sauce on the
Side and Sugarfre.
Greater density will attract more retail activity, but recent openings and reinvestments bode well for Downtown.
In the meantime, it is important to support the retailers that continue to oer supplies and services to those
who live, work and play Downtown. Commuters, residents and visi tors alike can take a dvantage of dozens of
conveniently located health care providers, jewelers, dry cleaners, boutiques, salons and more.
In 2016, the highly anticipated National Blues Museum opened to join the growing list of Downtown music
attractions. As a look forward, we anticipate the reopening of The Eugene Field House & St. Louis Toy Museum
after a full 4,000 square foot renovation and expansion. Downtown is, now more t han ever, a regional hub for
cultural institutions.
With more than 200 sporting and cultural events hosted last year, Downtown continued to be the premier
destination for visitors to our region. Downtown STL, Inc. works with event producers to help facilitate
logistics, welcome attendees and provide alerts related to the potential impact on the neighborhood.
Downtown STL, Inc. also produces a few signature events each year:
2015 Sports Attendance
Team Regular Season Games Total Attendance Average Per Game
St. Louis Blues 41 755,294 18,421
St. Louis Cardinals 81 3,520,889 43,467
Source:NHL, MLB 2015
ByRoomSize
innovation
Source:ExploreSt.
Louis,
2013
Category Impact
Visitors 23.9 mil
Visitor Spending $4.88 bil
Tourism Jobs 85,164
Tourism Wages $2.78 bil
Tou ri sm Tax Rev en ue $925 mil
Source:Explore St. Louis, 2013
Source:Explore St. Louis
Downtown Hotel Rooms & Rates St. Louis City & County Tourism Impact
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STATE OF DOWNTinnovation
Address Comp SFBuyer/Tenant
Company Lease Type
200 N. Broadway 337,088 Mariner Energy, Inc. Sold
100 N. Broadway 34,145 Crane Insuranc e Company Renewal/Expansi on
1015 Locust St. 29,191 Maune Law Firm New
100 N. Broadway 22,130 Herzog Crebs Renewal
100 N. Broadway 22,130 Nestle Purina Expansion
505 N. 7th St. 19,147 Korein Tillery LLC Renewal
308 N. 21st St. 15,000 USI Renewal
100 S. 4th St. 12,021 Regus New
900-920 Spruce St. 10,000 Asynchrony Expansion
Source:Cushman & Wakefeld Quarterly St. Louis Oce Market Reports, 2015/2016
MAJOR
OFFIC
ESPACE
TRANSACT
IONS
The Downtown STL oce market improved in 2015/2016 with the vacancy rate dropping
to 19.4% at the end of the rst quarter in 2016. Many anchor employers of Downtown,
including Accenture, Anderson & Gilbert, Bryant Group and Schlichter Bogard & Denton,
renewed their leases. Spire (formerly t he Laclede Group) opened their new headquarters
at 700 Market Street. Anders CPAs + Advisors saw continued returns on their recent
investment in a completely renovated space that was designed to attract and retain top
talent in a competitive industry. Marketing rm Momentum committed to move its 150
employees into 27,000 square feet of space at 1831 Chestnut Street.
The Downtown Innovation Community continued to attract local, national and international talent
and announced a goal of 1,000 innovative companies with 10,000 jobs Downtown by 2025. The goal
was established just as both Lockerdome and KPMG announced the addition of a total of 400+ new
jobs to Downtown. Creative coworking spaces like T-REX and Industrious continued to respond to the
growing needs of startups and innovative companies that require spaces to conduct daily business,
host meetings, share resources and network.
The Saint Louis Fashion Fund also launched its capital campaign to fund the St. Louis Fashion
Incubator, a two-year, intensive program that oers emerging designers the tools, connections, and
guidance to take their businesses to the next level. The incubator will house six designers from
across the country and will provide mentorship opportunities and business programming that
will simultaneously help re-establish the Garment District along Washington Ave.
Demand for Creative Spaceshas Extended to Even the MostTraditional Ofce Environments
JOBS, TALENT & OFFICE SPACE
Demand for a MoreConnected DowntownDrives InfrastructuralImprovements
INFRASTRUCTURE & TRANSPORTA
The years-long Arch grounds renovation project saw three
major unveilings; Luther Ely Smith Square, the new Park Over
the Highway and the newly elevated Leonor K. Sullivan Blvd
all opened after signicant investment and coordinated
construction projects.
Arcade Apartments and Webster University in the ArcadeBuilding were both completed and opened to residents and
students, respectively.
The #99 Downtown Trolley route was expanded to appeal to
bus riders needing to go to Wells Fargo, Harris-Stowe State
University, Chaifetz Arena, and Sigma-Aldrich.
The Metro Civic Center Transit Center began an expansion
that will allow the area to accommodate more buses and
provide passengers with new amenities and features.
In spring of 2016, Downtown STL, Inc., with partnership from
the City of St. Louis, St. Louis Development Corporation, and
St. Louis Economic Development Partnership, issued a Request
for Information (RFI) for the establishment of a gigabit ber
network throughout the region. Beginning with Downtown and
expanding to other business clusters, the goal of the RFI is to
encourage service providers to develop a plan for gig abit
broadband infrastructure and improved access to high-speed
Internet for residents and businesses. This process is one of
many steps required to turn St. Louis into more of a Smart City
with ecient, accessible and widely available data systems
and networks.
Over the past 12 months, more than $300 million
in development was completed in Downtown:
innovation
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STATE OF DOWNTinnovation
Over the past 12 months, Downtown has invested heavily in
security-related issues. Much time has been spent collaborating
with the City, St. Louis Metropolitan Police Department (SLMPD),
Civic leaders, businesses and community members. The result
of this investment has been continuous improvement in safety
initiatives and yet there is still much work that remains.
Another signicant investment has been in securing both funds and
community support to improve the technology available to SLMPD as they
work to prevent and ght cri me. These investments included $166K for the
purchase and installation of 16 security cameras throughout Downtown.
As a look forward, Downtown STL, Inc. is currently raising funds for
enhanced lighting and the installation of additional License Plate
Recognition (LPR) cameras in greater Downtown.
The perception of safety is another hurdle that must be approached on
an individual level in addition to systemic levels. One tool that Downtown
is investing in is the home-grown, T-REX-based SafeTrek app, which was
designed to help individuals ll the gap between doing nothing and
calling the police when they feel unsafe, anywhere. It uses a simple,
silent interface that alerts a security call center any time a user feels
unsafe. The call center stays in contact until the person feels safe again
or triggers an escalation that shares their location and situation with
police dispatchers. Downtown STL, Inc. will continue to partner with the
public and private sectors for innovative solutions for public safety.
Safety, Real and Perceived,Must Improve for All
SAFETY
Colleges and UniversitiesAre Choosing Downtown
EDUCA
The Downtown St. Louis post-secondary student population keeps on growing
and our institutions are committed to strengthening urban education! While
Webster University moved across the street from the Old Post Oce into the
newly renovated Arcade Building, Lindenwood University consolidated their
Wildwood and Downtown locations and is now taking up 32,000 square feet
inside the Old Post Oce. This move quadrupled the amount of space
Lindenwood University previously had at 1409 Washington Avenue.
Downtown has a strong history of post-secondary institutions choosing the city center
as their home. Here are all post-secondary schools that have established a presence inDowntown: Lindenwood University, Saint Louis Community College, Saint Louis University Law
School, Stevens The Institute of Business and Arts, University of Phoenix Learning Center,
Vatterott College extreme Institute by Nelly and Webster University. The energy that
college students bring to Downtown adds to the vibrancy of our neighborhood.
STATE OF DOWNTinnovation
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innovation
For More Information 314.436.6500 | downtownstl.org
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.
innovation