Warehouse 7 Lofts (The Avenida) - 1235 Washington Avenue

urbanstlouis · PostApr 20, 2006#12006-04-20T19:35+00:00

Jacob Development Group has purchased the old Mark Lemp Footwear building at 1235 Washington and named it The Avenida, meaning

The Avenue. They plan to renovate the building into 54 loft condos with 10,000 square feet of retail at street level. The units will range from 1200 to 2200 square feet with an average price around $205/sf.

A display unit will be available for the Downtown Loft Tour on June 10-11, 2006 with pre-sales starting right away.

There should be an article in tomorrows St. Louis Business Journal.

trent · PostApr 20, 2006#22006-04-20T21:41+00:00

Is there a picture of this building?

(I think Google Maps needs to update their pics, they're showing Wash Ave pre-makeover)

stlmike · PostApr 20, 2006#32006-04-20T22:26+00:00

^ I always check builtstlouis.net

...and 1235 isn't there.

debaliviere · PostApr 20, 2006#42006-04-20T23:01+00:00

I think it's the building with the dirty facade (with the Budweiser truck in front of it) in this pic:

urban elitist · PostApr 21, 2006#52006-04-21T00:35+00:00

Nice building, nice location...but $205 a sqft base? Has Jacob Development Group ever heard of pre-consrtuction or even market level pricing? For that much I'd be moving into Syndicate Trust and getting all of the ammenities that come with it.

loftlover · PostApr 21, 2006#62006-04-21T00:55+00:00

Wow, another project on Washington. To tell you the truth, I often walk by this building and never gave it a second thought, assuming it had already been developed. I love the location, on a really nice stretch of WA. It wasn't more than 2 or 3 months ago I was reading posts here that Jacob was in trouble. Now this. The $205/sq ft isn't insignificant either. When shopping for a loft a couple of years ago, everyone talked of prices heading to that figure. I was skeptical then, but now its here.

stlmike · PostApr 21, 2006#72006-04-21T04:10+00:00

That's the one with the Galaxy, and that's 1227 Washington Ave. According to builtstlouis.net, the next building west is 1231.

apickett · PostApr 21, 2006#82006-04-21T04:30+00:00

1235 will in fact be the entire building, from the corner/ alley east to our space. So, it will be the former Lemp Shoe Co. space, and the Galaxy, as well as the floors above. Its hard to decipher what address matches up w/ what facade, but this project will cover everything from the corner over, and stopping at the wall between the Galaxy and Rosemann's office.

buckethead · PostApr 21, 2006#92006-04-21T14:30+00:00

loftlover wrote: It wasn't more than 2 or 3 months ago I was reading posts here that Jacob was in trouble.

They did have a bit of a scare when National City Bank pulled out of the financing deals. Obviously new financing was found so it looks like everything has worked out OK.

urbanstlouis · PostApr 23, 2006#102006-04-23T07:23+00:00

urbanstlouis wrote:There should be an article in tomorrow's print edition of the St. Louis Business Journal.

By the way, the St. Louis Business Journal reported that construction on The Avenida is to start this October with units to be ready by July 2007.

The article also mentioned that the building has 12-foot ceilings, which will allow for 2-story units with 3-bedrooms (JDG cited demand from families with children).

mophipsi · PostApr 23, 2006#112006-04-23T19:42+00:00

From my dealings with Jacob, I think they are pretty top notch especially when compared to other loft developers. I bought in the Ventana and they have started to ahve monthly tours so that the buyers can see the progress...they are very open and honest for the most part.

urbanstlouis · PostApr 24, 2006#122006-04-24T21:54+00:00

Jacob commits $18 million to new project on Washington

St. Louis Business Journal - April 21, 2006by Lisa R. Brown

Jacob Development Group, the developer of two large residential loft conversion projects downtown, has an $18 million condo project planned for one of the busiest corners in the Washington Avenue loft district.

Jacob Development purchased the 115,000-square-foot, seven-story building at 1235 Washington for $3 million April 18 from Mosinger-Cohn Inc., a holding company led by Mark Lemp Footwear Chief Executive Jack Mosinger.

>>> read more

the central scrutinizer · PostApr 24, 2006#132006-04-24T22:42+00:00

urbanstlouis wrote:Jacob commits $18 million to new project on Washington

St. Louis Business Journal - April 21, 2006by Lisa R. Brown

Jacob Development Group, the developer of two large residential loft conversion projects downtown, has an $18 million condo project planned for one of the busiest corners in the Washington Avenue loft district.

Jacob Development purchased the 115,000-square-foot, seven-story building at 1235 Washington for $3 million April 18 from Mosinger-Cohn Inc., a holding company led by Mark Lemp Footwear Chief Executive Jack Mosinger.

>>> read more

What's up with addresses downtown? When I Google mapped this address, it lands on the Bogen building. Also, when I map The Meridian (1136), it shows up farther east on Washington, closer to 11th, instead of being on the corner of 12th & Wash.

brickandmortar · PostApr 24, 2006#142006-04-24T22:59+00:00

The Central Scrutinizer wrote:

What's up with addresses downtown? When I Google mapped this address, it lands on the Bogen building. Also, when I map The Meridian (1136), it shows up farther east on Washington, closer to 11th, instead of being on the corner of 12th & Wash.

Google, mapquest, et. al uses a derivation of Census TIGER files to map addresses. Each block has 100 possible addresses so 1150 Washington would show up halfway between Tucker and 11th when in reality it may not exist or be in a different location than what is displayed.

urbanstlouis · PostMay 08, 2006#152006-05-08T20:56+00:00

Just received an update from Jacob Development on The Avenida.

- Construction of model space is under way. This will be ready for the June 10th Downtown Loft Tour.

- Activities on the rest of building are set to commence in approx. 3-4 months.

- Antique Vitriolite on the face of 1227 Wash. has been donated and carefully removed for reuse in St. Louis.

- Prices for loft homes in The Avenida are available in the office. Please contact Jill or Emily for a price sheet. (314) 621-2226

framer · PostMay 10, 2006#162006-05-10T02:08+00:00

I'm gonna miss the Vitriolite. To me that WAS the face of 1227. What's going to replace it?

irocktheparty2000 · PostJun 11, 2006#172006-06-11T02:28+00:00

Must say, this display rocks! It's a 2 bed, 2 bath unit at 1582 SF on the second floor. Everything in here is upgraded to the tune of about $100,000 just in options. They said they would sell this unit for around $500,000! Hope I can get the pics to post here. By the way, the bathrooms looked as good as everything else but never got a chance to take pics of them as there were always people in the way.

arch city · PostJun 11, 2006#182006-06-11T19:18+00:00

Wicked. Nice photos. Looks like a nice loft.

xing · PostJun 11, 2006#192006-06-11T19:40+00:00

Madness, pure insanity...

loftlover · PostJun 11, 2006#202006-06-11T20:01+00:00

irocktheparty2000 wrote:M the bathrooms looked as good as everything else but never got a chance to take pics of them as there were always people in the way.

Yah those bathrooms were incredible, especially the mosaic tiles with "glitter" grout! IMO, the nicest loft on the tour!

jlblues · PostJun 11, 2006#212006-06-11T23:25+00:00

I wasn't too sure about the loft/bedroom in that unit. It can't be more than 5 foot high ceilings. I could see waking up in the middle of the night and knocking myself out. I guess you'd learn pretty quick though...

urban review st. louis · PostJun 12, 2006#222006-06-12T01:14+00:00

The kitchen picture above, although small, looks really well done.

I had several couples come through my listing this weekend happy that the unit had gas cooking rather than electric but they were talking about how to redo the kitchen to install a commercial-style range.

The display shown above gives upper end buyers the commercial style they seek. The arrangement is efficient although I bet that rolling ladder will get in the way and will make it to the storage locker quickly after a buyer moves in.

Lofts are designed & built in a production mode so it is difficult to get truly custom high-end kitchens in these projects. As we get more older empty nester buyers I think we'll see a trend toward nicer kitchens and baths as these buyers have likely gone through the remodeling process numerous tmes and expect these rooms to be above the norm.

I've designed many a $80K+ kitchen and know that low-end stainless appliances and a granite countertop simply is not enough these days.

debaliviere · PostJun 12, 2006#232006-06-12T12:55+00:00

The loft area in the display was very strange - I don't know what you could really do with it besides put a small bed there.

The library-style ladder in the kitchen was a very cool touch.

aimster · PostJun 12, 2006#242006-06-12T13:15+00:00

loftlover wrote:
irocktheparty2000 wrote:M the bathrooms looked as good as everything else but never got a chance to take pics of them as there were always people in the way.

Yah those bathrooms were incredible, especially the mosaic tiles with "glitter" grout! IMO, the nicest loft on the tour!

I'm glad to hear that somebody likes the glitter grout! We ordered it for one of our bathrooms for our unit at the Meridian! We knew that it was risky, but we're hoping that it looks cool and not just over-the-top flashy.

stlrisen · PostJun 12, 2006#252006-06-12T13:56+00:00

I'd have to say though, in all the buildings I visited on the loft tour, I'd have to say I really like what they did with the Avenida display. I really liked how they used all the space, and my girlfriend went ape$#!+ when she saw the upper level (of course, it helps that she's pretty short

).

I think even at a lower finish level, that would be a totally wicked space to live in. Personally, I'd use the upper level just to have some solitude...a reading chair, small desk perhaps.

Definitely one of the best on the tour, IMHO, given such a short time they had to get the display up.