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From The ST. LOUIS POST-DISPATCH, July 22, 2008 Centene Plaza developers will submit final plans CLAYTON - Developers of the proposed $190 million Centene Plaza are formally submitting their financial and development plans to the city this week in hopes of breaking ground in early November. On Monday, Robert Wislow, chairman and CEO of U.S. Equities of Chicago, presented conceptual plans for the Centene headquarters expansion and office and retail development to the city Plan Commission/Architectural Review Board. Tonight, the developers hope the Board of Aldermen will approve a redevelopment agreement that would clear the way for partial tax abatements and other financial arrangements. On Wednesday, the developers - U.S. Equities, Clayco and Centene Corp. - will formally submit their plan to the city to be reviewed in time for an August meeting, where the developers hope to secure approval. Plan Commission Chair Harold Sanger said after Wislow's presentation that he liked "just about everything" he saw. Some details have yet to be worked out, he said, including the covering and design for the parking garage. But overall, Sanger and other members, and members of the audience praised the development. In past years, the project had caused public controversy, and the Missouri Supreme Court disapproved of the use of blight and forced eminent domain to obtain property for the project. This time, the developers are acquiring the properties through the private market. Last year, Centene moved the project to downtown St. Louis at the planned Ballpark Village. The company moved back to Clayton this year after those negotiations fell through. Wislow outlined the now familiar plan for two glass office towers designed by Hellmuth, Obata & Kassabaum Inc., with retail, a parking garage and courtyards in an area bounded by Forsyth Boulevard, Hanley Road and Carondelet Avenue in the central business district. Under the latest version, which calls for two phases, Wislow said, "The first tower (21 stories) would be built immediately along with the parking garage." This first phase also would include shops and restaurants at street level along Forsyth. The garage by Forum Studios would be five or six stories above ground plus two more levels when the second phase is built. "Then, when Centene is ready to expand, and that depends on their growth and the economy, the second tower (10 stories) would be built," Wislow said. Asked about the private financing, Wislow said, "We don't think that we will have a problem with a project as well pre-leased and well-located as this." The agreement that aldermen will consider and possibly approve tonight calls for:
In addition, Centene has received $8 million from the state and will receive roadwork contributions from St. Louis County. |
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From The ST. LOUIS POST-DISPATCH, July 19, 2008 Scottrade seeks tax abatement for $82 million expansion Scottrade Inc., the discount brokerage based in St. Louis County, plans to ask the County Council Tuesday for a $10.7 million tax abatement on a new $82 million office building and garage. Rodger Riney, president and chief executive of Scottrade, said the new building will support the broker's expanding number of branches and the growth of its online business. "This growth will bring more opportunities for our associates as well as opportunities for hundreds of others in the region to join the Scottrade team," Riney said in a statement. According to the County Economic Council, Scottrade pays $660,000 a year in property taxes. With the 50 percent tax abatement on the new buildings, it would pay $10.7 million in new taxes over 10 years for a total of $17.2 million. After the abatement period, the taxes are estimated at $2.8 million a year. |
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From the Webster-Kirkwood Times. Friday, July 18, 2008 Waging Peace Polls from countries around the world show that America has lost ground in popularity and esteem. A Des Peres woman - with a particular interest in France - hopes to turn that situation around. Jane Robert is putting her energy into Waging Peace, an organization focused on increasing international understanding both at home and abroad. She is in a unique position to do this through her presidency of the active Saint Louis-Lyon Sister Cities program with France and also her six-year presidency of Federation of Alliances Française USA. "Our standing in Europe suffered with the Iraq war, when we were eating 'Freedom Fries' and dumping French wines down the drain because of foreign policy disagreements," said Robert. "I think most of the French just shrugged their shoulders. I think the Americans actually drank the wine and then poured out water. "The point is, we have to stop being so insular and realize how much we've been enriched by the art, food, music and culture of other countries," insisted Robert. "That is what has given us strength. Building a wall around our country is akin to inbreeding. It will make us brittle, stale and hurt us economically." In greater St. Louis, Waging Peace partners with the World Trade Center-St. Louis with funding from Sigma-Aldrich, Commerce Bank, the Deaconess Foundation and the French company, bioMerieux. It also has the blessing and some funding from the U.S. State Department. According to Robert, a major focus of Waging Peace is to examine better ways to integrate minorities in inner city neighborhoods. In St. Louis, this may involve peoples from Asia and the Balkans. For France, it may involve concern for citizens of African and Arab descent. "Waging Peace has four cities in the U.S. involved and we are about 18 months into the project," said Robert. "We share a lot of ideas. One of the things we've learned from our sister city, Lyon, is how important it is for immigrant populations to express their art and culture. If they can paint their living areas with art and murals, they are much more likely to take ownership and to take care of where they are living." When it comes to French-American relations, Robert said Waging Peace is all about ending stereotypes and malicious innuendos. "We have got to get our peoples to stop saying, 'Oh, all American are this way.' Or, 'Oh, all of those French people think this way,'" said Robert. "We have to appreciate that there is a great deal of diversity of thinking within our respective countries." Citizen Exchanges One of the casualties of the past decade of international turmoil has been a decline of student exchanges between the U.S. and other countries. Robert is committed to turning that situation around, particularly with France as an avowed Francophile. "I know parents in America have been afraid sometimes to send their children overseas for an international experience, but this is shortsighted and a disservice to our young," said Robert. "I know TV images of burning cars and riots in Paris a year or so ago frightened people, but this was confined to small areas. "I have been going to Paris several times every year for 40 years and I've always felt safe," insisted Robert. "I was there in the May 1968 riots as a college student and there was no problem being safe if you just stayed out of the area of the protests. The news media exaggerate a lot of it." Not content to simply promote student exchanges, Robert now is putting energy into an exchange program with a special emphasis on those aged 50 to 70. The program involves "citizen stays" with families in the ancient city of Lyon. Robert said staying with a French family is a far better way to learn about the food, shopping and culture of France than paying to be in an expensive Paris hotel. With gas at $10 a gallon in France, and with Euros costing more in dollars every day, Robert said home stays are the practical way for most Americans to have a French experience. According to Robert and members of the local Alliances Française, spirited conversation is the favorite sport in the homes of the French. They will tell you frankly what they think of the current U.S. president, and they want to know who you think will become president in 2009. Such encounters are unlikely to happen on a tour bus through France. Legion Of Honor Des Peres' Robert is not just your average U.S. Francophile. She now holds a rank established by Napoleon Bonaparte going back to 1693 during the reign of Louis XIV. In December 2007, she received knighthood in the Legion of Honor, the highest honor bestowed by France. "I am a 1965 graduate of Kirkwood High School and Mary Margaret Denigan was my teacher who got me so interested in French," recalled Robert. "I then went to Webster College and had some wonderful teachers in the French language - to think it would all continue to the Legion of Honor! "I was from a large family and travel to France was unlikely, but my professors at Webster encouraged me to try for a travel abroad scholarship. Part of the application process was attending a formal tea at a woman's house in St. Louis to talk about French culture," explained Robert. "I was scared to death." Despite her fright, Robert won the scholarship and the rest is history - specifically French history. Robert said early in life she fell in love with all the clichés of French life you can think of - outdoor cafés, the charm of Paris, ancient castles, sprawling art museums, music, wine and fine food. She has won numerous awards, including the Order of Palms, a high French civil honor. Roberts, who graduated from Webster College in 1969, was commencement speaker for the College of Arts & Sciences this spring at Webster University. "Everyone should study a language and French is a good choice because it is the first or second language in 49 countries around the world," said Roberts. "I told the Webster students that you should choose a language to study that you love and you feel in your soul. Choose from what you are feeling." |
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From the Suburban Journal. Friday, July 15, 2008 Local business honored by Hispanic Chamber; The Gonzalez Cos. honored as company of the year The Gonzalez Cos., accepted the Hispanic Company of the Year Award for 2008 at the 26th anniversary and awards dinner for the Hispanic Chamber of Commerce, held on June 13 at the Sheraton Westport Chalet Hotel. The award is given every year to a Hispanic-owned company that demonstrates success and involvement in the community. The Gonzalez Cos., is an engineering and construction management firm, serving the private sector, municipalities and federal government.The company earned the award because of its rapid growth and its involvement with the chamber, said Al Gonzalez, the chamber's president. "The company started with one person," said Anthony Gonzalez-Angel, senior managing partner of the Gonzalez Cos. "Now we have 30." Gonzalez-Angel founded the company in 1999 after years of experience in construction management, including work with the St. Louis Development Corporation. Gonzalez-Angel has no relation to Al Gonzalez. Gonzalez-Angel, 43, has been interested in building and designing since he was a child. He created architectural designs and made small mechanical machines. After he earned his bachelor's degree in architecture, Gonzalez-Angel worked on projects for other companies, but wanted to start his own business. "You're ingrained with it," Gonzalez-Angel said. "It's part of the American dream." He established the business himself working out of a home office doing consulting and administration of construction projects. In 2003 the Gonzalez Cos., moved from home to their first office at 3830 Washington Blvd. Gonzalez-Angel and his staff then took on a challenging project at Fort Leonard Wood, Mo., in an effort to make their name recognizable and to continue their growth. The waste water treatment tank at the military base was malfunctioning, but still operable. The base possessed only one treatment tank and could not have it out of service for long. The Gonzalez Cos., prepared for the job for six months before completing the project in five days. With this project business prospered for Gonzalez-Angel's company. The business now occupies four offices across the Midwest and serves nine states. The company has worked for large clients, including Ameren and Heartland Bank. Besides the rapid growth in the company it was also recognized for its contributions and participation in the Hispanic Chamber of Commerce. Gonzalez-Angel and his business maintain a presence with the chamber, attending most of the events, such as forums and fundraiser's. They are involved in an internship program called the Hispanic Educational and Scholarship Fund in which the chamber presents the company with Hispanic internship candidates. The annual awards dinner is the main fundraiser for the chamber every year. This year's event was the most successful in its history. Gonzalez-Angel showed his commitment to helping the chamber with a donation of $3,000 at the record fundraiser. "He matched mine, so that's not bad," Gonzalez said. |
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From the Illinois Business Journal. Friday, July 15, 2008 Lambert, developers, Missouri officials make big push for air cargo industry With empty gates, underused runways, a thousand acres of industrial park land and some of the biggest names in commercial real estate, Lambert-St. Louis International Airport is poised to make a run at the international air cargo business. In April, Missouri leaders returned from a trip to China with a Memorandum of Understanding to mutually analyze the feasibility of using Lambert as a hub for air cargo to and from China. "Lambert does have extra capacity," said Tim Nowak, executive director of the World Trade Center Saint Louis. "And when you throw in the fact of the central location of St. Louis and the excellent access to all modes of transportation, we have a real viable option for the Chinese or others to look at it as a central commercial hub." Times have changed. In 2000, Lambert officials announced that they would not take any additional air cargo - and that they would send cargo companies interested in expanding their St. Louis facilities or starting new operations in The pronouncement that cargo companies should look east to MidAmerica, however, was pretty harshly received by the cargo industry, according to news stories at the time. In fact, Glenn Streibig, a retired air division manager for UPS, was quoted in a St. Louis Post-Dispatch story in September 2000: "I think we all kind of laughed at it at the time when they were building this huge facility over there, which would have been great for us if it had been located someplace else," Streibig said. "[Among] the people that I knew doing cargo business at Lambert, I didn't know anyone who wanted to be over there." Since then, however, W1W has been built, large residential areas have been cleared and American Airlines has dropped St. Louis as a hub, drastically reducing the number of flights Lambert hosts. According to Lea, Lambert had just 240,000 airplane operations in 2007, less than 50 percent of the 2000 level, and has 33 empty gates. Today those in and around Lambert are aggressively working to develop the air cargo business. Some of the biggest names in industrial real estate in the country are working on - or already offering - space for lease near Lambert. Duke Realty Corp. has a new 528,000 square-foot building called the Lindbergh Distribution Center that's currently available for occupancy. It's located at the intersection of N. Lindbergh Blvd. and McDonnell Blvd. in the Airport Enhanced Enterprise Zone and boasts tax abatement and other state incentives. Duke is a publicly traded company that is one of the largest commercial real estate companies in the United States, with 142 million square feet of office and industrial properties in 24 cities. Last month, Panattoni Development Co. announced its purchase of the Ford Motor Co.'s former St. Louis Assembly Plant on N. Lindbergh. Panattoni plans to demolish the existing structure and add new buildings totaling approximately 2.6 million square feet of warehouse, distribution and light industrial space on the 155-acre site. Panattoni is a commercial real estate company that develops, leases, owns and manages industrial, office and retail projects in more than 150 cities throughout the United States, Canada and Europe. Further south on N. Lindbergh, McEagle Properties is developing the 150-acre Hazelwood Logistics Center. One 400,000-square-foot building is near completion; the park will eventually house up to two million square feet of space. McEagle is a St. Louis- based commercial real estate company that is also currently working on projects in Kansas City and Dallas. McEagle is also part of Trade Zone Partners LLC which has held the lease on the 50,000-square-foot warehouse building at MidAmerica St. Louis Airport for the past two years. And on the other side of Lambert, at the intersection of I-70 and I-170, McEagle and Clayco Realty Group are co-developing a 550-acre business park called North Park. Clayco Realty Group is the real estate development arm of Clayco Inc., one of the largest construction firms in the St. Louis area. Ultimately, North Park will house up to 5.5 million square feet of office, manufacturing and distribution facilities. Nowak said there were two reasons to focus on China. One, a path of communication had already been opened with Chinese officials. Paul McKee Jr., president and chief executive officer of McEagle Properties, had opened that door through a local attorney, Steve Stone, and his cousin, an expert in Chinese trade. Two, said Nowak, the Chinese economy is booming - and Missouri's exports to China have been booming as well. "We've seen a massive increase in Missouri goods going to China because of a number of things," he said. "China's middle class is growing; it has growing infrastructure needs; and, a lot of it is a result of its growth in the world market, in manufacturing and other areas. It's a real market for Missouri goods. In fact, China is Missouri's fourth-largest trading partner and the fastest growing market for Missouri goods," Nowak added. The feasibility studies that both China and Missouri will be conducting, he said, will focus on two-way traffic. Nowak says a flight between China and Missouri can cost as much as $400,000, so it's important that the plane is filled traveling in both directions. While a lot of work still needs to be done, he estimates that there is $5 billion worth of exports going to China each year from the Midwest. "What we're together focused on is demonstrating that within a catchment area of St. Louis, there's a reasonable chance to fill those planes with products from Missouri and the surrounding states," said Nowak. "That's the key. It's not just Missouri. The catchment area also includes Illinois and Iowa. It's roughly an area within a day's drive of St. Louis. Can we fill these planes going back? Our research is showing that yeah, we're pretty confident that it can happen." |
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From the St. Louis Business Journal. Friday, July 11, 2008 Furniture Brands to change corporate structure, move headquarters Furniture maker Furniture Brands International Inc. said Thursday that it is changing its corporate structure from a holding company to an operating company and will move to a new world headquarters to Clayton. The model switch will allow the company to receive about $4 million in state and county tax incentives over five years, the company said. The new location at 1 North Brentwood will provide 40 percent more space and house about 150 additional employees, mostly in human resources, accounting, credit and information technologies. Some of those company-wide functions had previously been performed at other sites in North Carolina and Mississippi. After the move, Furniture Brands will employ about 225 corporate employees. The company said it had employed about twice that many at the corporate level as a holding company. Brand-specific support functions will remain at those specific offices. To help retain Furniture Brands in the St. Louis area, the Missouri Department of Economic Development gave the company tax breaks through the Missouri Quality Jobs program. The company posted profit of $33.6 million in the first quarter on sales of $477.2 million, compared with a profit of about $2.9 million on sales of $557 million for the same quarter last year. Furniture Brands' first-quarter 2008 profit was boosted by the sale of its Hickory Business Furniture subsidiary for $75 million. The company's brands include Broyhill, Thomasville and Lane. Furniture Brands' (NYSE: FBN) competitors include Ashley Furniture Home Stores. |
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Incubators provide care and nurturing for young companies
Six years ago Mercury Communications & Construction Inc. confronted what could signal the end for any small business: It couldn't pay the rent. Mercury, a builder of wireless towers, took a hit after wireless providers scaled back construction in the aftermath of the Sept. 11, 2001, terrorist attacks. Mercury's executives lobbied their landlord and got a six-month reprieve on rent. A business incubator provides startup companies services ranging from consultation on marketing and growing, to access to photocopiers and notary publics. Typically, the incubator offers space at or below market rates. For one- and two-person firms, the space adds a legitimacy that the owners wouldn't get by operating out of a house. The flexibility to modify the lease helped to rescue the company, said Julie Steis, vice president of finance and one of Mercury's founders. It expects revenue of $6 million this year. The St. Louis area has more than a dozen small-business incubators, several of which have recently opened or are under construction. A recently opened center at University of Missouri-St. Louis focuses on information technology startups. And an incubator at St. Louis' St. Patrick Center, opening this fall, will be host to businesses that want to revitalize the downtown area. Ken Harrington, managing director of Washington University's Skandalaris Center for Entrepreneurial Studies, said he hopes a greater awareness of entrepreneurship is causing the new incubators to open. But he also said more are starting in the St. Louis area because "each one of these has got a specialized focus." Success is measured differently among the regional incubators, depending on the theme. The multi-industry centers look at the number of jobs created and the revenue of the tenant companies. Incubators dedicated to biotechnology and technology companies track the grant money awarded to tenants because tech startups usually don't have revenue in their early years. The theory behind business incubators is much like an incubator for a premature baby: nurturing a new company by teaching the owner how to run a business. The reduced rent and business counseling can help a small company weather problems, giving it a better chance of bringing its products to the market, said Dinah Adkins, president and chief executive of the National Business Incubation Association in Athens, Ohio. Successful companies typically graduate after two to three years at an incubator, and then rent or buy their own office space. The biggest benefit for Mercury was the center's willingness to help, Steis said. "I don't think we could have stayed in business" without the center. Indeed, the landlord component of an incubator operator is "the least of our concerns," said Jan DeYoung, who managed the economic council's incubators until last fall. DeYoung left his job with the economic council to start the Begin New Venture Center incubator in the St. Patrick Center, a nonprofit group that helps the homeless. Construction on the office spaces started in January. When the incubator opens in September, it will house companies dedicated to the revitalization of downtown St. Louis and to honoring St. Patrick Center's mission to the homeless. One floor of the St. Patrick Center's five-story building on North Tucker Boulevard will be set aside for training and business office space. DeYoung hopes some of the St. Patrick Center's clients find jobs with the tenant companies or use the incubator to start their own ventures. "A grand slam for us would have one of our people come up through our programs and start a business," he said. But he acknowledges that would be a long process for those clients. DeYoung said 14 companies have applied so far for the space by hearing about it through word-of-mouth, and he expects to have 10 businesses by the end of 2009. Occupancy in the region's incubators changes as companies add or scale back space, or graduate. For example, the Economic Development Center of St. Charles County offers month-to-month leases for tenants at its incubators in St. Peters and St. Charles, allowing the tenants to expand or cut back space as employment numbers change. Greg Prestemon, chief executive of the development center, said the incubators have operated at less than full capacity for about three years because several businesses graduated and, perhaps in part, because fewer people since then have started up new businesses. Since the opening of its St. Peters incubation center in 1993, 154 companies have graduated from the incubators. The centers housed 51 businesses in 2007 and, after graduations, have 50 companies now. Occupancy at the St. Louis County Economic Council's incubators is at about 80 percent, which is the historical rate, said Denny Coleman, president and chief executive of the council. "Unlike a private real estate owner, we always want to leave room for growth of the client companies in the facilities," Coleman said. According to a survey conducted this spring by the economic council, gross revenue for the center's 49 tenant companies totaled nearly $45 million in 2007. The average incubator nationwide in 2006 had 25 companies with total revenue of $16 million, according to the National Business Incubation Association. Those were the most recent numbers available. |
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From the St. Louis Business Journal. Friday, July 4, 2008 Felicidades, Tony Gonzalez Cos. has been named Hispanic company of the year by the Hispanic Chamber of Commerce of Metropolitan St. Louis, recognizing growth in employees, sales, products and services. Tony Gonzalez-Angel is senior managing partner at Gonzalez, which was founded in 1999, had revenue of $1.5 million in 2007 and provides construction management, civil engineering and other services. The company is targeting revenue of $2.5 million in 2008. It has offices in St. Louis, Swansea, Kansas City and Omaha. |
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A garden-variety misunderstanding: Gardeners will be able to keep their plots near NorthPark after all Clea Tuckson sat in the cool shade and described what he and a half-dozen of his friends were doing in this isolated spot, tucked away in a grove of trees along North Hanley Road. "We're doing some planting, playing dominos and talking about the girls," Tuckson said. There was a brief pause, and it wasn't hard to anticipate what was coming next."I don't know about you guys," said one of the younger domino players, suggesting there's more than talk left in him. And so the conversation goes among the group of mostly older men as they sit on the battered couches and chairs that circle the dominos table. The talk is interrupted periodically by the deafening noise of low-flying jets approaching Lambert-St. Louis International Airport nearby. The real reason the men are here is the individual garden plots that divide several acres of airport buyout property along North Hanley, just north of the NorthPark redevelopment area. The gardens had been cultivated for years. But until last week, it looked like there wouldn't be any more talk or dominos here, or any fresh tomatoes, butter beans, sweet potatoes or okra from these fields. That's because several months ago, NorthPark mistakenly taped off the area and installed "no parking" and "no trespassing" signs. "It was in error," said Dan Brungard, a spokesperson for NorthPark Partners, the group that's redeveloping more than 550 acres northeast of the interchange of interstates 170 and 70. Brungard said the area isn't part of the present NorthPark development and, in fact, belongs to the airport. "We have no intention of disturbing those folks," Brungard said. A spokesperson for the airport said they have no intention of disturbing the gardeners either. Sandy Singer, a public relations spokesperson, said Friday that the gardeners can stay. "It's a win-win situation for everyone," Singer said. The gardeners have been tilling plots here as far back as the 1980s. That's when St. Louis started buying out property in Kinloch as part of the expansion of the airport. With the vast majority of its homes taken, Kinloch lost more than 75 percent of its population between 1990 and 2000. Little piles of stone and concrete, like monuments, are scattered throughout the area, remnants of torn-out building foundations. Gardeners crept onto the airport property because food plots along unused utility and other rights-of-way along Hanley Road aren't new. After receiving assurances from airport and NorthPark officials, Tuckson and others last week were busily tilling and planting individual small plots, making up for lost time. Curtis Verner, one of the four domino players at the table, was still upset that trucks had run over his field. Others like Lonzell Currie of St. Louis were busy roto-tilling his damaged plot, getting it ready for replanting. Many of the gardeners are retired. They come from University City, Wellston, Florissant, St. Louis and other areas. For some of the gardeners, their gardens are a return to their roots. And they can eat the "fruit," mostly vegetables, of their labor. "Food is going to get very expensive," Tuckson said. Tuckson, Robert Gaines and others grew up on farms in Mississippi and Arkansas. Sammy Hoke of North St. Louis worked cotton and rice fields in Hayti, in the heart of Missouri's bootheel. He also spent 32 years as a Missouri Department of Transportation employee and still works with them part time. "It's nice to get out here," Hoke said, pausing after planting some peas. His sweet potatoes were really good last year, he said. Gus Barnes, 64, of University City, sees his garden as a bit of therapy. Barnes, a Vietnam veteran, said it helps him deal with the recurring memories of those times. "My shrink says I need to do something like this," Barnes said. And when the planting and tilling are done, or it gets too hot, there's always the grove of trees. It's an all-season and all-weather gathering place. The trees block the view from Hanley. Near the tables sits an old wood stove with lots of firewood stacked next to the trees. There's also a lean-to, made from the siding and roofing from torn-down Kinloch houses, big enough for three or four people to get out of the rain. "We're a bunch of old folks," Tuckson said. "We can sit here and shoot the breeze, play dominos and barbecue." |
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From the Kansas City Star. Monday, June 30, 2008 The Gonzalez Companies LLC named Hispanic 2008 Business of the Year St. Louis, MO (June 30, 2008) - The Gonzalez Companies, LLC has been recognized as the Hispanic Company of the Year by the Hispanic Chamber of Commerce of Metropolitan St. Louis (HCC). The award was recently presented at the HCC's 26th Anniversary and Awards Dinner. Every year the HCC recognizes a local company that actively contributes to the value of life for the Hispanic community, demonstrates achievements in the areas of growth in number of employees, increased sales or unit volumes, and who has offered the community innovative products and services. "From my point of view this is a company award that I accepted it on behalf of our team. Without their extra effort, the Gonzalez Companies would never have had the opportunity of being recognized with this great honor," said Anthony (Tony) Gonzalez-Angel, Senior Managing Partner. "This genuinely reflects a true team effort and everyone deserves individual recognition. We appreciate the support the HCC has contributed to the growth of our company." For 5 years the Gonzalez Companies, LLC. has been providing their clients with outstanding professional service that is second to none. The Gonzalez team has a strong background in construction, engineering, construction management and architecture. Their solutions are designed to provide practical, buildable and maintainable results. For more information, please visit www.gonzalezcos.com The Gonzalez Companies, LLC. works throughout the central U.S. for the private sector, municipalities and the federal government. The company was incorporated in 1999 by Anthony Gonzalez Angel and is certified as a MBE / DBE and PBE business. The Gonzalez Companies, LLC. is a member of the St. Louis County Economic Council's local business development program and is a member of the following professional organizations: American Public Works Association, American Society of Civil Engineers, American Council of Engineering Companies of Illinois, American Institute of Architects, the National Institute of Government Purchasing, and the Society of American Military Engineers. |
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From the South County Journal. Tuesday, June 24, 2008 Lemay community center in planning stages Group hopes to have plan ready by end of summer Going up the lazy river, attending craft fairs and physical fitness are all in store if a planned Lemay community center is completed. A plan for such a center is several steps closer to becoming reality following a series of recent meetings involving community members and St. Louis County officials. The St. Louis County Port Authority, St. Louis County Parks Department and the Lemay Community Facilities Committee (LCFC) are working on planning and preliminary design studies for the new center which is being designed by Ankney-Kell Architects. Greg Hayden, president of the Lemay Chamber of Commerce and a member of the LCFC, said the suggestions on what a community center should include will be incorporated into a final plan that could be available by the end of the summer. “We wanted to be sure the committee members came to the meetings with an open mind because it’s really about the community and what the community wants and needs,” Hayden said. “So, that’s why we ended up getting a consultant, because none of us are experienced in building community centers. We really felt we should build something the community will use and be proud of.” A survey was taken recently of the 63125 ZIP code area that included residences within a three-mile radius of the community, said Jacqueline Wellington, of the St. Louis County Port Authority. The survey revealed the community was looking for a gathering spot that could provide a variety of activities through the use of flexible room spaces within the community center, she said. Currently Lemay residents have the Kennedy Recreation Center in Mehlville as the closest option, although some use the Affton-White Rogers Community Center. Hayden said a tract of park land owned by St. Louis County at Kingston Drive and South Broadway, at the entrance to Jefferson Barracks County Park, will be the center’s site. The committee considered accessibility and the cost of purchasing land elsewhere “but there’s just not much acreage available in the Lemay area,” Hayden said. Wellington said community suggestions included an aquatic area with an outdoor space of about 15,000 square-feet that would include an outdoor family pool and lap lanes for water exercise classes. An aquatic center would also feature a vortex pool, a current channel, play structures, a water slide andassorted sprays and fountains. Also suggested was a 9,500 square-foot gymnasium with portable seating and space for basketball and volleyball courts, a running and jogging track of 4,000 square-feet, weight and cardiovascular areas of 5,000 square-feet, a multi-purpose room of about 1,200 square-feet and a baby sitting area of about 1,000 square-feet. The entire area, including the building and aquatic area but not the outdoor swimming pool, would total almost 35,000 square-feet, Wellington said. “The architects will take a look at all the various things the community would like to see incorporated into the project, put some budget estimates on it and then we will have to refine it based on the funds that are currently available,” Wellington said. Hancock Place School District Superintendent Dr. Greg Clark, also an LCFC member, said “my view of a community center is one that provides activities for everybody, from kids all the way up to senior citizens. “We’re working with the community to see what they really want, but I also realize we’re working within a budget that try have to stay within,” Clark said. Funding for the community center, about $5 million, was provided by Pinnacle Entertainment through an agreement with the St. Louis County Port Authority and St. Louis County for the construction of their new River City Hotel and Casino. The casino is being built on the former National Lead Industries site near the Mississippi River. The St. Louis County Port Authority owns the site and is leasing it to Pinnacle. Pinnacle estimates the $450 million casino project will create approximately 1,000 jobs during its construction and nearly 2,000 permanent jobs for the community. Plans call for it to feature a 3,000 slot casino, a 100 room hotel andmore than 280,000 square feet of retail and entertainment amenities, including a band pavilion, athletic fields and the community/aquatic center. |
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From the St. Louis American . Thursday, June19, 2008 Constructive engagement in North City It was roughly a year ago that independent reporting by Michael R. Allen on land assemblage in North St. Louis appeared on the front page of the Post-Dispatch under Jake Wagman's byline. An Old North resident and urban conservation activist, Allen had done an exhaustive amount of research that connected a large number of apparently independent land acquisitions to developer Paul McKee Jr. The Post story tied McKee's veiled real estate investments to a bill in the state Legislature that would benefit a developer with a portfolio very much like McKee had assembled in North St. Louis. An activist's hints at dark conspiracies by a powerful developer appeared, almost unbelievably, on the front page of the Post-Dispatch, which is usually friendly to any suggestion of economic development and this City Hall. McKee's maintenance of his North City properties and his intentions for the land have been constant sources of speculation and demagoguery ever since. Candid conversations with other developers have turned up puzzlement over the especially harsh treatment McKee has received. They acknowledge that it is standard operating procedure to assemble land covertly and attempt to influence legislation that will provide tax credits for redevelopment in an urban context. They also know it is rational to keep your development plans close to your chest until all of the critical pieces are in place to move forward. They were puzzled that the Post story and much media attention that followed upon it have been lacking in context and a sense of realpolitik. A set of primary elections in Missouri are coming up on August 8, with an historic general election on November 4. There are signs that community pressure and the need for additional investment, both financial and political, will lead McKee to disclose more of his plans in the coming months. We urge candidates for office - including Attorney General Jeremiah "Jay" Nixon and the candidates for the 5th Senatorial seat in Missouri - to take the question of McKee's development plans off of their campaign agendas until more has been disclosed about his intentions. McKee's collaboration with Clayco on the NorthPark project has made it evident that he can do business in a political context that requires minority inclusion goals, for both subcontractors and workforce. It is unimaginable that McKee could proceed with massive development plans in North City unless he were prepared to meet similar expectations. Also, he has seen Mayor Francis G. Slay take a bruising from the black community over his blunders on school reform and pompous, unrepentant treatment of Fire Chief Sherman George. McKee must approach development in North City with the proper sensitivity to a highly charged and deeply suspicious community. It is not often that we quote the mayor favorably these days, but consider what Slay posted on his campaign website last June after the Post had run its piece on McKee's North City holdings: "No project in North St. Louis, no matter how significant, will be able to treat current residents or employers unfairly. No property owner, no matter how substantial his holdings, will be immune to the City's regulations. And should there ever be a redevelopment plan for the area, current stakeholders must be included in the process." On these important points, we agree with the mayor. The stakes are high. There is an undeniable need to address the deeply entrenched decline of much of North St. Louis. There is a desperate need for substantial change in the fortunes of these neighborhoods and their residents. Renewal of the area will require massive capital investment and significant public subsidy, and McKee's project may be able to bring these elements to the table. To single him out (or politicians who supported the land assemblage tax credit) for political gain in the current campaigns would be a mistake. The real enemies here are the cumulative years of neglect and disinvestment. |
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From the St. Louis Business Journal. Tuesday, June17, 2008 Chinese delegation meets in St. Louis to sign deal to purchase $4.5B in soybeans A delegation of Chinese soybean buyers, along with Chinese Vice Premier Wang Qishan, were in St. Louis Monday to sign an agreement to purchase more than $4.5 billion worth of U.S. soybeans. The United Soybean Board, the United States Soybean Export Council and the American Soybean Association helped facilitate contracts between eight U.S. exporters and 14 Chinese importers. Soybeans are the No. 1 U.S. agricultural export valued at more than $9 billion annually, and Missouri ranks fifth in soybean production in the nation. Soybeans are the state's number one cash crop. In 2007, Missouri exported more than $107 million in soybeans to China and China has already bought a record-breaking 436 million bushels of soybeans from the U.S. this growing season. The Missouri Department of Agriculture also signed a memorandum of understanding with China's Chamber of Commerce of Import/Export of Foodstuffs, Native Produce and Animal By-Products to expand and promote agricultural and food trade, especially in soybeans. Soybeans are just one of Missouri's exported goods that are growing thanks to China, which has a population of 1.3 billion. Several Missouri companies, both large and small, have grown their business in China significantly in recent years. In 2007, Missouri's exports to China broke the $1 billion mark, up nearly 32 percent from $769 million in 2006 and double the $500 million in 2005, according to the World Trade Center St. Louis. The increase equals about 40 percent of the $600 million rise in Missouri's total exports last year when the state sent $13.4 billion worth of goods to more than 200 countries. Canada remains Missouri's largest foreign market, taking in $4.96 billion worth of goods last year. But China is quickly gaining on the next two trade partners -- Mexico ($1.35 billion) and Korea ($1.2 billion) -- and very well could surpass them by the end of the decade. In March, a delegation of Missouri political and business leaders visited China on a trade mission. Members included Gov. Matt Blunt, U.S. Senators Kit Bond and Claire McCaskill, St. Louis Mayor Francis Slay, St. Louis County Executive Charlie Dooley, former Gov. Bob Holden, RCGA President and Chief Executive Dick Fleming, World Wide Technology Chairman David Steward, Pfizer Government Relations Director Drew Duncan, and executives from Peabody Energy, Unigroup, McEagle Properties and Lambert-St. Louis International Airport. During the week-long trip, Blunt signed agreements with Chinese officials aimed at creating a new transportation hub for Air China in St. Louis and increasing trade between China and the state. |
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From the St. Louis Business Journal. Tuesday, June13, 2008 Neeco-Tron gets assistance from development fund Neeco-Tron Inc., a St. Peters company that designs and manufactures printed circuit boards and other electronic controls, hopes to lure $1.5 million in business from Mexico, said President Nick Nibert. Nibert plans to invest proceeds of a $200,000 loan from the St. Louis Business Development Fund toward the effort -- using the funds to ramp up with additional salespeople and specialized electronics. For competitive reasons, Nibert declined to identify the potential assignment. The loan is the fourth this year for the fund, a for-profit business headed by Rick Palank, which is administered through the office of the St. Louis County Department of Economic Development and owned by more than two dozen area banks. The fund is designed for companies that do not have strong enough balance sheets to extend their existing credit or take out a new loan. This year, the fund has made $1.47 million in loans. Other firms receiving loans this year include: JJT Companies, which used a $250,000 loan to acquire McGuire Furniture Rental and Sales in January; Flower & Fendler, a homebuilder, which used a $500,000 loan to acquire assets of American Heritage Homes, and Oakwood Systems Group Inc., which used its $500,000 loan for expansion capital. The Business Development Fund would have posted operating income of $167,000 on gross revenue of $944,000 in 2007, but because of the speculative nature of the loans, the fund places a large amount, 9.5 percent of its notes, or $250,000, for loan loss reserves, Palank said. While the loan loss provision has made profits illusive, Palank said more banks continue to sign up as shareholders. The newest members are start-ups St. Louis Bank and Champion Bank. They join more established financial institutions that helped launch the fund. Until this June all member banks paid $25,000 a share, but because the fund has increased in value over its 14 years, new banks joining the fund will pay $35,000 a share, Palank said. Neeco-Tron started in a St. Charles incubator in 1993 and has grown to 30 employees, with $5 million in revenue. |
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Mayor:Town that almost disappeared has a future KINLOCH - While the rest of Kinloch withers, one street - Schoolway Avenue - hums with activity. Workers are remodeling frame ranch houses on the street that two years ago was the rundown, vacant property of the Lambert Airport Commission. Some of those homes have new, but familiar, owners - former longtime residents returning to the houses they sold to the airport in the 1990s as part of a noise abatement program. "Schoolway is just the start," said Kinloch Mayor Keith Conway, who recently bought one of the Schoolway houses and moved into it."With the right planning, we can draw more people back and duplicate Schoolway all over the city." Conway's optimism might be of the pie-in-the-sky variety, were it not for another fact about Kinloch: Its boundaries contain about one-third of an ambitious enterprise: NorthPark, a 550-acre office and industrial project. The development is in its early phases, but the NorthPark Partners, a collaboration of the developers McEagle Properties and Clayco, have optimism to spare. And cash, too: In October, they will bestow $5 million on Kinloch for municipal improvements, while also contributing $6 million to the coffers of Berkeley and $500,000 to Ferguson, the other cities within the development's boundaries. For Kinloch, the sum equals the average annual revenue that the city has collected over the last nine years. POPULATION SHRINKS The airport began buying land and houses in Kinloch in the 1980s; altogether, it purchased about 1,360 properties on about 215 acres. The buyouts reduced Kinloch, the first all-black city in the state, from a bustling community of about 10,000 people as recently as the 1960s to about 430 residents today. Most of the city's housing stock is gone, too. It is the poorest city in St. Louis County. Block upon block of rutted streets are lined with overgrown vacant lots and mounds of debris where houses once stood. Most of the residents live in one apartment complex on the southeastern edge of town, and most of the rest are in two small apartment complexes that the city owns. A barbershop that keeps only sporadic hours is the town's sole retail establishment. And yet, Kinloch has its own police force, public works department, municipal court, and, in Conway, a full-time mayor. The city's budget this year is about $680,000. The bulk of the revenue will come from rent the city collects from the two apartment complexes it owns. Most of the rest comes from traffic fines and state and county taxes. Some critics of Conway say his motivation for keeping Kinloch alive is rooted in his interest to keeping his $37,440 annual salary, probably the highest of anyone living in Kinloch. Conway says it's more than that. "I see it as my duty to preserve this city as the city of Kinloch for the people who love it," the bald and stocky Conway, 44, said in a recent interview in his office at City Hall, where a velveteen portrait of John F. Kennedy marks the building's former use as a junior high school named for the president. Part of his duty, Conway said, is deflecting occasional annexation overtures from the neighboring cities of Berkeley and Ferguson. And what would motivate those cities to seek to assimilate Kinloch? The answer, said Ferguson Mayor Brian P. Fletcher, is NorthPark, which holds the promise of tax revenue and thousands of jobs. "We have simply reached out knowing that ... we can benefit each other," Fletcher said. Until NorthPark takes off, Conway's plan is to rebuild the housing stock, starting with Schoolway, and hang on until NorthPark blooms. "Those people (at NorthPark) will want to walk to work," he said. "Expensive with the way gas is, we'll be by the jobs, by the highways, by the airports. If we build it right, they'll come." Last year, Kinloch selected a St. Louis developer to build 125 houses in the northeastern part of town. The deal fell apart in March. BARGAIN HOME PRICES On Schoolway, electricians, plumbers and carpenters work on houses that were among 17 parcels that Lambert bought from voluntary sellers beginning in the early 1990s with federal noise abatement money. The airport commission later determined that noise was not loud enough to prohibit residential development and in 2006 sold the tracts back to the city for $354,000. Kinloch in turn began selling the houses at bargain prices - from $8,000 to about $12,000. One of the buyers was Bobbie Keys, the only resident on the block who didn't sell to the airport commission. Keys, 64, remained in the four-bedroom, two-bath home in the 8000 block Schoolway that she bought in 1968 and raised five children in. And she watched as one by one her longtime neighbors packed up and left. By 2001, she was the last resident on the block. "They said this was the chance to escape Kinloch, but I didn't see any reason to escape," Keys said. "The people who were leaving were getting about $55,000 for their houses but then moving to Florissant and other places and paying more than that and getting roped in to a mortgage again. I didn't see the sense in that." Another house on Schoolway is being prepped for the homecoming of Joseph Boyd, 67, a retired firefighter who sold his house to the airport commission eight years ago and moved to Florissant. He said he bought the property back this year. "It's good to be back in Kinloch," Boyd said last week as he puffed on a stubby cigar in front of the house where he had lived for 30 years. "I never felt at home in Florissant," he said. "This is where I want to be and die." Boyd's sister Sandra Boyd moved her family back to the street four months ago from Dellwood. Her son Monte Boyd, 19, said he was hesitant about moving back to Kinloch. "I didn't want to live in an isolated area," he said. But his hopes for the city have been raised by Schoolway's one-street renaissance. "I thought it was a bad neighborhood," he said. "But it's cool." |
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From the St. Louis Business Journal. Tuesday, June 3, 2008 Centene reaffirms Q2, full-year earnings guidance Centene Corp. reaffirmed its fiscal 2008 second quarter and full year earnings guidance at its sixth annual Investor Day event Tuesday in New York City. The company affirmed its 2008 revenue in the range of $3.3 billion to $3.38 billion and earnings between $1.87 per share and $1.97 per share. For the full year, analysts polled by Thomson Financial, on average, expect earnings of $1.87 per share on revenue of $3.4 billion. Centene announced April 22 it was lowering the range of its annual revenue and earnings guidance to reflect a reduction in investment income resulting from actions taken by the Federal Reserve during the first quarter as well as lower results in the Ohio Aged, Blind or Disabled (ABD) market. The company expects earnings between 38 cents and 42 cents per share on revenue between $822 million and $832 million for its second quarter. Nine analysts polled by Thomson Financial, on average, expect earnings of 38 cents per share on revenue of $845.4 million. St. Louis-based Centene Corp. (NYSE: CNC) provides managed care programs and related services to individuals under Medicaid. It also operates health plans in Georgia, Indiana, New Jersey, Ohio, Texas and Wisconsin. |
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From the Webster-Kirkwood Times. Sunday, June 1, 2008 Residents Speak On Both Sides Of Jones' Plan If applause is a gauge, public sentiment toward Edward Jones' request to expand its campus is evenly divided, at least among those attending the public hearing held before the Des Peres Board of Aldermen meeting on Tuesday. Edward Jones attorney John Diehl explained why the city should allow the company to double the size of its campus by adding a six-story office building, plus a six-story garage at the site at 11780 Manchester Road. The additions would total approximately 300,000 square feet and add about 1,000 employees. In March, Edward Jones filed suit against the city alleging that the city has conspired to deny the company its civil rights to due process. Diehl said the plan was to make its headquarters in Des Peres. "We believe that we have complied with the city's comprehensive plan," Diehl said. Terry Bieder, senior project manager from Peckham, Guyton, Albers, Viets, and representing the city, interpreted the Missouri Department of Transportation's comments on the Edward Jones traffic study and the city's view of land use as it pertains to the comprehensive plan. "The goals of Edward Jones are in conflict with the Des Peres comprehensive plan," he said. "The plan favors residential development over commercial development." He also said that the analysis of the additional traffic on Manchester Road signals "a potential red flag for the state. He said additional analysis is needed. "For these reasons, it is the consulting team's recommendation that the amended master building plan for the Edward Jones property as currently proposed not be approved by the city of Des Peres," Bieder said. He added that should a revised plan be submitted, more analysis could result in a different conclusion. Diehl said Edward Jones was going to follow MoDOT's recommendation to put dual left-hand turn lanes on eastbound Manchester Road at the Edward Jones entrance. With dual left-hand turn lanes, "Manchester Road traffic could be handled," Diehl told the Times. After the meeting, Diehl said Bieder "was reading outdated comments from MoDOT. That was before the proposed left-hand turn lanes into the site." Denny Coleman, president of the St. Louis County Economic Council, and Steve Johnson, senior vice president for economic development for the Regional Commerce & Growth Association, both read statements encouraging the board to approve Edward Jones' request. Some residents also spoke in favor of the project. "I ask that you consider the impact of your decision regarding Edward Jones," said Angie Bay, vice-president of the Kirkwood Board of Education. "Public schools are heavily dependent on local taxes, and approximately 90 percent of the revenue for Kirkwood School District comes from local property taxes. "Edward Jones is one of the largest taxable properties within the Kirkwood School District, and they are a good corporate citizen and friend to the Kirkwood School District. I encourage you to reach an amicable solution that is in the best interest of all involved." Resident Fred Schmidt also asked that the board strive for an "amicable solution" with Edward Jones. Jack Barsanti spoke in favor, saying "this is a tremendous coup for the city of Des Peres and they should not push away a company of the standard of Edward Jones." However, former board member Joe Crawford reminded the board of how the 10-story former Community Federal Building got approval. He noted that the Edward Jones plan is "too dense for the property," and will cause traffic to back up more on Ballas Road. Michael Corrigan, whose Nicholas Lane property faces the Edward Jones campus, said the parking structure as planned is "grotesque and I urge the board to reject it." Michael McManus also asked the board to vote against the development, saying he is concerned about the "size, scope and density of the property." Earlier this month, the planning and zoning commission voted 9-1 against approval of the request. Board Member Jim Doering asked how Edward Jones could expect approval without the city having all the information, noting that the city did not get MoDOT's comments on the traffic study until May 23. "The planning and zoning commission should not have had to vote without all the information and the board shouldn't either." "The bill will be in position for a second and final reading at the board meeting on June 11." Lahr told the Times. "The board of aldermen and I continue to aspire for an amicable resolution." |
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From the St. Louis Business Journal. Friday, May 30, 2008 Third time's a charm What goes around comes around. Or so it seems in the continuing saga of Centene's search for a corporate headquarters. This time everyone seems to have gotten it right. The first botched efforts included a clandestine land grab through an eminent domain attempt, overturned in the courts. Then there was the downtown move creating a Rube Goldberg development in the yet-to-be-developed Ballpark Village. Finally the company heeded the concerns of the Clayton community and its government, switched the two proposed building sites and came away with a $215 million proposal that includes more than $30 million in subsidy. A public/private partnership between a company that put pride aside and a community that didn't let bruised feelings get in the way of progress. Remember the hastily convened press conference where St. Louis City officials ballyhooed Centene's move downtown? Quietly and elegantly, Clayton Mayor Linda Goldstein expressed her regret that Centene had chosen another suitor but congratulated the company and the city on the downtown decision. And when that fell apart, Mayor Goldstein and her aldermen were waiting in the wings, this time with the land already assembled. There are those who criticize Clayton for offering subsidy. But even the acclaimed Clayton School District went along with the plan, acknowledging it will receive about $28.5 million in new money over the next 20 years -- nearly a million and a half dollars a year when school budgets are stretched. Critics claim the district would receive twice as much if there was no tax abatement, but it would receive nothing if there was no development. This is not a Hobson's choice. In today's environment, subsidy is what it takes to convince business to build. Those who argue otherwise should talk to economic development officials who are wooing Bombardier to Kansas City or those in Chicago who convinced Boeing to move its corporate headquarters from Seattle. You may not like the game, but you have to understand how it's played. Clayton played well and Centene showed its respect by altering the development site. We can breathe a collective sigh of relief and congratulate all those who stayed at the table to bring about a win for the region. |
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From the St. Louis Business Journal. Friday, May 30, 2008 St. Louis County seeks input on Lemay community center As part of a preliminary study for a planned new community center in Lemay, Mo., several St. Louis County government departments and Ankeny Kell Architects will host workshops June 4 and June 5 to get input from Lemay residents. The exact location of the new center will be announced at the June 4 session. The St. Louis County Port Authority, St. Louis County Parks Department and Lemay Community Facilities Committee are scheduled to complete a study for the new center by the end of the summer, according to a release Thursday from the St. Louis County Economic Council. According to Nancy Schnoebelen, vice president of marketing and communications for the St. Louis County Economic Council, a total budget for the center has not yet been set. She told the Business Journal that $5 million in funding has already been provided for construction of the new center by Las Vegas-based Pinnacle Entertainment Inc. (NYSE: PNK). Pinnacle is providing "significant" funding for the center, according to the release, through its contractual agreement with the St. Louis County Port Authority and St. Louis County for the construction of the planned $450 million River City casino development in Lemay. An initial session is scheduled to be held from 6 p.m. to 9 p.m., June 4, at the Jefferson Barracks Park Visitor's Center. Information including the facility's size, location and potential programming will be provided. Attendees will be asked to share ideas and opinions about proposed design renderings and vote on their favorite elements. Attendees will be asked to return to the Jefferson Barracks Park Visitor's Center the following evening, June 5, from 6 p.m. to 9 p.m., to view the updated designs and vote on their preferences. Pinnacle, a Las Vegas-based company, owns and operates the new Lumiere Place casino development, as well as the President Casino on the Mississippi riverfront, both in downtown St. Louis. Pinnacle owns and operates casinos in Missouri, Nevada, Louisiana, Indiana, Argentina and the Bahamas. |
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From the St. Louis Business Journal. Thursday, May 29, 2008 Advantage Capital, Pulaski Bank finance $18M Hilton Garden Inn at St. Louis' NorthPark Advantage Capital said Thursday that it recently partnered with Pulaski Bank on an $18 million investment that enabled the construction and operation of the Hilton Garden Inn at NorthPark. Advantage Capital's portion of the investment was made in connection with Missouri's New Markets Development Program to encourage investment in low-income communities, according to a release. The Hilton Garden Inn, to be located at the NorthPark development at the northeast corner of Interstates 70 and 170, in St. Louis County, will be managed by St. Louis-based Lodging Hospitality Management. NorthPark Partners , consisting of McEagle Properties LLC and Clayco Realty Group , is redeveloping the 550 acres located along the eastern perimeter of Lambert-St. Louis International Airport into office and retail space. "We expect this (hotel) project to serve as a catalyst for significant economic activity, both in the NorthPark development itself as well as the larger surrounding area," said Jeremy Degenhart, Advantage Capital senior vice president, in a statement. The 136-room, four-story hotel will include suites, single and double rooms, and a restaurant, as well as meeting rooms, an indoor pool and a fitness center. The Hilton Garden Inn at NorthPark will be attached to a 5,000-square-foot conference center, the release said. Chris McKee, president of McEagle, said in a statement that the hotel will bring 30 new, permanent jobs to the area and generate significant new tax revenue. The project is expected to be completed before the end of 2008. Advantage Capital Partners is a private equity firm focused on investing in promising companies in connection with federal, state and local economic development initiatives. It has offices and partners in St. Louis, New Orleans, Austin and other cities. Advantage has raised more than $950 million in institutional venture capital since 1992. Pulaski Bank is operated by St. Louis-based Pulaski Financial Corp. (Nasdaq: PULB). |
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Edward D. Jones gets tax abatement CLAYTON - The St. Louis County Council on Tuesday unanimously granted Edward D. Jones and Co. and an affiliate $17.8 million in 10 years of tax abatement to help finance a $145 million addition at its headquarters in Des Peres. |
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NorthPark project offers 'new beginning' for area, officials say Berkeley Mayor Kyra Watson listened Thursday as developers and government officials extolled the virtues of the NorthPark business development. "It's a new beginning for all of our communities," Watson said. NorthPark is a business-park development under construction on a 550-acre parcel at the northeast corner of interstates 70 and 170. McEagle Properties and Clayco are the leading developers for the project that, officials hope, will encompass 5.5 million square feet of commercial space and create 10,000 or more new jobs. The development occupies parts of Kinloch, Berkeley and Ferguson. Its success is critical to those communities, some of which have been struggling for years to attract new development and increase their tax base, Watson said. That success also is viewed as critical for nearby North County cities and the rest of the county. "It's our largest, largest and largest reinvestment project in the entire county," said St. Louis County Executive Charles Dooley. "Understand the value - jobs, jobs and more jobs." The city of Cool Valley is outside NorthPark. But Mayor Viola Murphy said the project's success goes hand in hand with her city's efforts to spur redevelopment along South Florissant Road. Commercial areas in Cool Valley would serve NorthPark workers and tenants, she said. "It's all tied together," Murphy said. Murphy, Watson and Dooley were among a group of municipal and St. Louis County officials, developers and commercial real estate brokers attending Thursday's promotional event. They huddled under a white tent as the wind picked up, the temperature dropped and rain began to fall. The event was part community relations exercise, part progress report and part pep rally. Each official took time to sign a building beam that is being used on the property. In terms of the progress report and showcase, NorthPark Partners turned the spotlight on the latest buildings under construction. NorthPark will have a Leadership in Energy and Environmental Design-certified office building. The three-story, 150,000-square-foot building, called HPOD (High Performance Office Development) will feature "raised floors" that will lessen heating and air-conditioning costs. A $12 million, 136-room Hilton Garden Inn is under construction and is expected to be finished by next spring. NorthPark also is finishing a 120,000-square-foot building that will house a Corporate Express distribution center and the second phase of Express Scripts' headquarters, scheduled for completion in December and housing 900 employees. Mike Jones, head of the joint commission created to oversee the project, said it's hoped that NorthPark will be recognized as something more than an ordinary business park. It could be an example of how to do an urban redevelopment, he said. The development opens up the "world of the possible in a big, big way," said Chris McKee, president of McEagle Properties. McKee and Dennis Coleman, director of the St. Louis County Economic Development Council, say a withering economy has slowed, but not ended, interest by potential tenants. Coleman said projects like NorthPark have up to a 20-year time frame. "There are always peaks and valleys," Coleman said. One bit of negative news this spring has been the copious amount of rain. Wet weather has turned graded construction sites into mud patches. McKee said construction may be 30 to 45 days behind this spring. But spurring interest from commercial real estate brokers was a major reason for last week's event. A separate event for brokers, including out-of-town clients, was scheduled after the public event. |
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From the Webster-Kirkwood Times. Thursday, May 22, 2008 Edward Jones Expansion Will Benefit Schools In the Webster-Kirkwood Times May 9 edition, the article "Edward Jones Seeks Tax Break For Addition" contained inaccurate information regarding the Edwards Jones expansion project in St. Louis County and tax benefits to the Kirkwood School District. Without the property tax abatement and other incentives, Edward Jones has stated it would not have committed to its expansion in St. Louis County. If that unfortunate case had occurred, the positive economic impact to the Kirkwood School District would not exist. Although the Edward Jones' project is expected to receive 50-percent property tax abatement for 10 years beginning in 2010 on its planned addition, the school district will continue to receive 100 percent of the tax revenue currently generated on the Edward Jones headquarters site and building. As a result of the expansion, the school district will gain (not lose) significant additional revenue - during and after the abatement period. Contrary to what also was written in the article, reassessments will occur during and after the 10-year project term. Direct positive impact on the Kirkwood School District: Current annual tax revenue generated (without expansion): $510,000 Estimated annual revenue during project term (2010-2019): $1,480,000 Estimated annual revenue at conclusion of project (2020): $2,450,000 This doesn't even take into account the economic impact of the 500 permanent, quality jobs that will be created in St. Louis County by the end of 2011 or the more than 1,000 perman |
