As of early next week, residents of The Laurel will be privy to a perk unique to the St. Louis apartment community. Enterprise Rent-A-Car and The Laurel have partnered together to place a Chevy Volt extended range electric vehicle (EV) at the building primarily for use by residents as part of the WeCar car-sharing program.
The Volt will have preferential parking at the ChargePoint dual-port charging station located at 7th and Lucas adjacent to the building. The station, installed by local firm Microgrid Energy, is also available for public use.
Nicole Strand, Property Manager at The Laurel, had this to say in the press release:
“We are working with WeCar to bring an affordable transportation option to our residents, many of whom have moved here from other urban areas and appreciate the environmental advantages, convenience and economies of car sharing. This program meets the needs of urban dwellers who prefer car sharing and public transportation options over owning a car. In fact, we hope the program will help reduce our reliance on everyone having their own car and contribute to local sustainability efforts. “
WeCar by Enterprise offers its members around-the-clock access to hourly, daily and overnight rentals. The convenience of only paying for the vehicle when you need it is easily attained by using the stress-free online reservation system.
St. Louis Mayor Francis G. Slay applauded the arrival of the Volt and had this to say in the press release:
“Car sharing is important for creating a lower impact urban mobility system and we are delighted that Laurel Apartments has chosen to work with Enterprise Rent-A-Car, which is committed to developing long-term transportation solutions and supporting a more sustainable future in their hometown of St, Louis and around the world.”
The Chevy Volt will be fully available for use beginning early next week. While this particular Chevy Volt is available to all registered WeCar members, residents of The Laurel Apartments will be given exclusive deals not available to all members. The hourly rent for the Volt will start at $8 per hour and that will include gas and insurance.
Today the Mercantile Exchange welcomes its fourth business to the district with the opening of Collective at MX. The Collective brings 25+ boutiques to downtown St.Louis in part of the building that formerly housed St. Louis Centre. Nicole Benoist, the former Style Editor at St. Louis Magazine and Founder of MiniPinkBook, serves as the Managing Curator.
The retailers that have signed on to be part of the Collective will be showcased in the nearly 4,000 square foot space in a customizable “mini-shop” format. The retail cooperative will feature a variety of unique offerings such as jewelry from Adam Foster, unique St. Louis gifts from Stl-Style, antiques from Roots, stylish home decor from White Rabbit, designer women’s resale from Women’s Closet Exchange and even candy from Oh Lolli Lolli Candy Shoppe.
Laurel residents will be some of the first people to peruse the Collective’s offerings when they attend a private showcase tonight at Collective at MX complete with complimentary wine and hors d’oeuvres.
For immediate release: July 27, 2012
Amir Kurtovic’s coverage provides a positive update on The Laurel Apartments and the downtown apartment market and gives an update on MX retail tenants open and under construction.
St. Louis, MO – For a new apartment building, the first goal is always to fill it up. But that shouldn’t be a problem for the Laurel building, part of Amos Harris’ $250 million Mercantile Exchange development. Demand for apartments has been so good, in fact, that Harris has been able to raise prices less than a year after starting the leasing process.
“We are killing it with the apartments,” Harris said. “When we opened up our preleasing, we were leasing at $1.20 per square foot. We are now leasing at $1.34 per foot, which is huge. We’re talking about a more than 10 percent increase in the last six months.”
About 70 percent of the 205 one- and two-bedroom apartments are leased, said Harris, who is president of Brady Capital and a principal of Spinnaker St. Louis. The grand opening of the Laurel Apartments was in February and Harris said he could see rents rising to about $1.45 to $1.50 per square foot by next year.
The strong performance was a surprise to Harris. The Laurel Apartments were still under construction when Steve Smith’s 230-unit Park Pacific development opened.
“I was right there with everybody else in thinking that there were too many apartments coming on the market at the same time, but that didn’t turn out to be the case,” Harris said.
Deborah Done, president of locally owned rental agency Apartment Search, said there is a lot of demand for the Laurel Apartments because of their location and amenities.“Overall, the downtown market is strong and availability it tight,” she said. “Most of the properties are bringing their rents back up.” Done estimates that average rental price for downtown apartments have increased about 5 percent in the last six months.
Strong apartment leases are not the only good news coming out of the MX development. Harris said there is a lot of interest for the planned National Blues Museum at the MX and a number of supporters have shown interest in helping to raise the $6.5 million necessary to make the project a reality. About half of the $23 million price tag for the museum has been secured in New Markets Tax Credits.
The streetscape around the MX development could also soon get a facelift. The city of St. Louis has submitted an application to the East-West Gateway Council of Government for a $2 million grant that would fund improvements to sidewalks, lighting and decorations on Washington Avenue, from 7th Street to Memorial Drive. Harris said the $2 million grant required a $400,000 match, which the city was not able to provide. Instead, Spinnaker and Stifel Financial Corp. have agreed to split the match, Harris said. Stifel bought its headquarter building at 501 N. Broadway, adjacent to the MX development, last August for $20 million.
The 150,000 square feet of commercial space at the MX are about 60 percent leased so far, Harris said. On the restaurants and retail side of the MX, Pi Pizzeria at the corner of Sixth Street and Washington Avenue is already open and construction is under way for several other projects, including St. Louis Cinema’s three-screen MX Movies theater slated for October. Also under construction is the Collective at MX, a 3,700-square-foot fashion co-op that will house mini boutiques.
Eric Heckman, owner of Tani Sushi Bistro in Clayton, will also be one of the commercial tenants at the MX. Construction for his Takaya New Asian restaurant is under way and should be complete by late summer. The 3,300-square-foot restaurant will seat 120 and Heckman has projected sales of $1.5 million within three years. Harris said he is also in discussions with several companies about putting in an 8,600-square-foot fitness center. The fitness center would include steam rooms, saunas and cater to residents and workers in the surrounding office buildings.
Mack Bradley, StandPoint Public Affairs
314-324-8567 | firstname.lastname@example.org
If you haven’t yet received an awesome Lovin the Lou t-shirt…this just in…we will be at The Outfield at Mike Shannon’s on Thursday, October 20th for the 2nd World Series Game!
Perfect timing right? You’ll already be out enjoying Wednesday night’s win so you can grab a shirt and take a picture with Rally The Squirrel, who will also be with us decked out in his very own Lovin the Lou gear.
We’ll also be at the Solutia Rock n Roll Marathon on Sunday, October 23rd. No rally squirrel but plenty of cute shirts to go around! Come out and cheer on the runners and get your long awaited and much desired Lovin the Lou t-shirt!
Oh, and the contest ends soon so don’t miss your chance to win free rent for a year at the beautiful, new, now renting, Laurel Apartments.
Thank you to everyone who stopped by at the A-List Party! We had a fantastic time! Don’t forget to enter the Lovin the Lou Video Contest for your chance to win FREE Rent for a Year!
Check out the photos below…
It’s time for Parties on the Old Post Office Plaza in Downtown St. Louis! Fat Pocket will start off the outdoor concert season tonight, sponsored by the Partnership for Downtown St. Louis, starting at 5:00. Lots of music, food and drinks, and fun – and the concert is free!
How to get there (8th & Locust)?