Changes Coming To Macy’s In The Railway Exchange

Macy’s currently occupies the first six floors of the 21-story Railway Exchange Building.

The department store plans to consolidate into the lower three floors.  Macy’s contains two restaurants, Papa Fabares on the 2nd floor and The St. Louis Room on the 6th, but you need to know about them because you won’t find any information on their website:

The store is still listed as “St. Louis Centre” for the former mall to the north being rebuilt as a parking garage with street-level retail.

Papa Fabares takes you back in time and the French Onion Soup is the signature item.  I don’t see this restaurant going anywhere when Macy’s consolidates.

The 6th Floor St. Louis Room, however, will be a casualty since this floor will no longer be a part of Macy’s.

I’m unsure what will happen to the pedestrian walkway over Olive to the parking garage.  Most months when I go to a regular lunch meeting at the St. Louis Room I just use my wheelchair to travel the 10 blocks to the store, but a few times I will drive my car and then the pedestrian bridge is handy in bad weather.

The pedestrian bridge connects at the 4th floor of the Railway Exchange Building, one above Macy’s after consolidation.  It is butt ugly and should go but the sidewalk level disabled entrance faces 6th Street, not Olive.   Removing the bridge might present some ADA access issues.  I’m torn, the urbanist in me says the bridge needs to go but the disabled me says it is handy.

– Steve Patterson

Readers: Missouri Shouldn’t Lower Cap On Historic Tax Credits

In July of this year Gov Nixon created the Missouri Tax Credit Review Commission, co-chaired by Steve Stogel & Senator Chuck Gross, to review the various state tax credit programs, including the successful historic preservation tax credit.  From the detailed historic preservation subcommittee report:

“A well-thought-out and skillfully drafted tax incentive for historic preservation cannot achieve its objectives if the total amount of credits that can be awarded annually is subject to a statutory limit, particularly if the limit is fixed at a low figure…

…Where demand for credits exceeds the amount permitted by law, applicants either must compete for credits or participate in a lottery or other arbitrary allocation system. Projects that truly require the state credit to be financially feasible have tended to be discouraged from participating because of the lack of certainty as to the outcome, the cost of preparing a competitive application that nonetheless may be unsuccessful, and the difficulties of keeping financing commitments in place during the evaluation process.”

Still it is possible Missouri will lower the cap on our historic preservation tax credit, thus prompting my poll question & post last week:

Q: Missouri is considering lowering the cap on the Historic Rehab Tax Credit from $140 mil to $75 mil. Reaction?Bad idea, this credit pays for itself 75 70.75%

1. Bad idea, this credit pays for itself 75 [70.75%]
2. Good idea to lower the limit 11 [10.38%]
3. I’d set the cap even lower 6 [5.66%]
4. Other answer… 6 [5.66%]
5. We should eliminate this tax credit entirely. 4 [3.77%]
6. Unsure/no opinion 4 [3.77%]

The six “other” answers were:

1. Fight for $100 million in order to be realistic about state of politics
2. The cuts have to come from somewhere.
3. There are probably other tax credits that should be lowered before this one.
4. I’m not happy, but I realize we are in the middle of a recession
5. sacrifices have to be made to have a balanced budget
6. Good idea if and only if savings are put towards job creation tax credits

No surprise that over 70% of the readership wants the state to not lower the cap.

In November 2008 nearly 85% of St. Louis voters supported Democrat Jay Nixon for Governor.  Statewide Nixon received just over 58% of the vote, showing how much St. Louis voters support Democrats.  Will Gov Nixon listen to the people of St. Louis, or does he know we always vote for the Democrat regardless?

St. Louis and communities across the state need the historic tax credit to put buildings back into use, creating jobs & revitalizing areas along the way.

– Steve Patterson

These McMansions Will Be Hard To Give Away A Decade From Now

About 8 years ago I had a client on a quiet & respectable street in the suburb of Chesterfield. What struck me at the time was the number of houses all with a single road to get out of the subdivision. One visit I stopped to reset my trip odometer just to see how long it was from the main road to their house, it was over a mile and a half!

I remembered this area as I read an article about a recent study:

People who live in walkable communities are more socially engaged and trusting than those who live in less walkable areas, says a new study from the University of New Hampshire.

The study buttresses other research that has linked a neighborhood’s walkability to its residents’ quality of life, notably improved physical and mental health.

The McMansion on the large lot & 3-car garage was once desirable by many, but those days are fading. This subdivision has sidewalks, but no direct connection to each front door!

Out of curiosity I decided to run the Walk Score for this street. No surprise it got a 2 out of 100 and the label “auto-dependant”

Half a century ago you couldn’t give away mansions in the city. They were big, drafty, and “functionally obsolete.” They lacked modern plumbing, wiring and air conditioning. A decade from now these McMansions will be obsolete. The cost to heat & cool these houses alone is enough to make them undesirable but it will be the lack of walkability that will do them in.

In contrast, my downtown address got a score of 95 – walker’s paradise. My first apartment in St. Louis (CWE) has a score of 91. My first apartment in Old North St. Louis has a “very walkable” 77. The two properties I owned in Dutchtown have a “somewhat walkable: score of 52. Must someone live in a downtown loft to have a high Walk Score? Hardly. My former office was in Kirkwood where the residential units where the former Target store was located get a 91 “walker’s paradise” score. Inner-ring suburbs often score high because they originate in days of streetcars. Ferguson MO gets an 80 and Maplewood 75, both “very walkable.” On the Illinois side of the region you have places like Belleville (80) and Edwardsville (86).

Here is how they define the levels.

As gas prices & public transit ridership go up homes in car-deopendent areas will have little appeal. Areas that are somewhat & very walkable will be retrofitted to become more walkable. I’ve set up a calendar reminder for December 23, 2020 to revisit this issue, and this street in Chesterfield.

– Steve Patterson

Readers Skeptical About Ballpark Village

Last week readers showed they are skeptical about the stalled Ballpark Village project that was first announced in the fall of 2006.

Q: Two of six blocks of Ballpark Village are to begin, thoughts?

1. I’ll believe it when I see it 83 [49.4%]
2. It is good to phase the project rather than try to do it all at once. 46 [27.38%]
3. As long as they don’t get more tax money I don’t care 29 [17.26%]
4. Other answer… 8 [4.76%]
5. They should wait until it can all be done at once. 2 [1.19%]
6. Unsure/no opinion 0 [0%]

The second choice selected shows many think phasing the project is a good idea.  The “other” answers were:

1. the only 2 blocks we’ll likely see developed
2. We should keep the land so we have it for the “new stadium” needed in
3. It will be better than a softball field!
4. Crooks!!!
5. we need an aquarium
6. Boycott the Cards who not only welched on payroll, but also BPV!
7. its a shell game
8. We need a new city cemetery, why not here?

In time we will see if the Cardinals & Cordish come through.

– Steve Patterson

Poll On Missouri’s Historic Tax Credit Program

The State of Missouri is facing a budget crunch so everything is on the table, including tax credits:

“Missouri has 61 tax credit programs that waived $521 million in state income taxes last year. Costs for tax credits have increased five-fold during the past dozen years while state revenues have risen much less.” (AP via Bloomberg)

One credit that may be scaled back is the historic tax credit:

“Gov. Jay Nixon’s tax credit commission recommended Tuesday lowering Missouri’s annual cap on historic tax credits from $140 million to $75 million a year.

The commission said the reduction, which would be permanent, should cover all historic renovation activity under the program. Nearly $100 million in historic tax credits were authorized in 2010, according to the commission’s report.”  (St. Louis Business Journal)

In 2010 “nearly $100 million in historic tax credits were authorized” so lowering the cap would reduced the number of projects getting renovated using the tax credit.  This is the subject of the poll this week.  I want to know how you, the readers, feel about the cap being lowered.  The poll is in the upper right corner of the blog.

– Steve Patterson