Bob Guller's proposed redevelopment of the vacant former Post-Dispatch printing press building at 1111 Olive has taken another step forward, with a request of $2.35 million in tax increment financing to help cover a portion of the $11.75 million in planned improvements.
IT firm Xiolink will lease the bulk of the space in the 100,000 sf building. Roughly 20,000 sf will be offered to other tenants, and 8,000 sf of space on the ground floor will be available for retail tenants.
Xiolink will retain its current space in the Bandwidth Exchange Building at 900 Walnut, where it has 20 employees, and eventually add 50 employees with annual salaries exceeding $50,000 at 1111 Olive. The relatively small number of employees in such a large space would lead me to believe that most of the space will be used for servers and other IT infrastructure.
Personally, I hope that the renovation plans include the removal of the unsightly radio tower from the building's roof. The Marquette Building once had a similar tower and looks much better since its removal.