John Steffen has made a lot of people happy over the last several years. He was the “go to” developer, who could be counted on to challenge the most difficult projects with an imagination and ambition that few others possess. Spaces in his buildings usually sold briskly - and always surprised the people who had passed up the original deals.
I don’t want to write about John as if he were dead, because he isn’t. Some of his current projects have gotten caught up in the national credit crunch, and they will require new investors and new leadership. Other projects, already financed or completed, will be just fine.
Over the past several weeks, I have heard from financers, lenders, bankers, developers, and consultants interested in continuing John’s projects. Although everyone faces the same challenges these days, I suspect that John’s vision for downtown will proceed - just without Pyramid and John.
I do not know what John plans next, but I encourage those who are interested to read next week’s St. Louis Business Journal.