Sunday, October 30, 2005

St. Louis Lofts Sold!

St. Louis Lofts

2020 Washington #203 $165,300
507 N 13th Street #707 $117,000
2020 Washington #302 $155,000
507 N 13th Street #603 $164,500
2020 Washington #509 $178,500
1501 Locust Street #306 $220,000
2020 Washington #102 $241,900
1501 Locust St. #1004 $290,000
400 S 14th Street #903 $313,716
400 S 14th Street #1109 $337,000
1511 Locust Street #803 $356,206

Pre-construction lofts are not included on here because until they close, you can't really count them. Plus developer's are constantly adding and removing listings from the market, so you can't really rely on the listing data. For what its worth though, all the details are here. Contact me if you wan't any more information. Obviously the MLS information provided here doesn't include some of the sales. I will dig for the information free of charge.

Saturday, October 22, 2005

A Place Like No Other

Its amazing to watch a ribbon cutting event unfold in the city. I arrived at Copia at 3:50pm, the event was scheduled to happen at 4. No one was around outside, it didn't seem like anything was happening inside. Undoubtedly because I had arrived, channel 5 news pulls up and starts setting up, and then around 4, police, the mayor, and a bunch of well dressed social dignitaries all start filing through the doors and shaking hands. The speech from Mayor Slay, and Downtown Partnerships Jim Cloar were inspiring. The appetizers and deserts that were handed out were fantastic, the waiter's were charming and helpful. Every once in a while I have to listen to the nay sayer's and skeptics about the promise of downtown. The opening of this fantastic restaurant and wine bar did us all some good.

Copia is conveniently located across the street from the Lucas lofts and next door to the Meridian.

Monday, October 17, 2005

My sneek peek

Some loft purists have attacked the work of Orchard Development as being too traditional. With the lack of exposed brick, laminate flooring, etc. My impression was never that this construction was bad or anything, but that there were a lot of units that had a similar feel. Too similar at times.

My fears were relieved when I got a chance to look at the incomplete model unit at the Ely Walker building. For more information, fill out this form and specify "ELY."

Sunday, October 16, 2005

As Traci Sees It

I have been recently accused of not keeping this community blog up to date. There was a 18 day hiatus in postings after the downtown loft tour in September.

To avoid any more shame, I am asking for the support of anyone interested in downtown St. Louis lofts, etc. to drop me a line about additional events and things that I may not have posted.

The purpose of this site is to keep people informed and to talk about the renewal downtown. Feel free to share your knowledge, so that others may be helped.

A.D.D. and Me

It really hasn't been long since I could walk down Washington Avenue without getting too distracted. I had a plan the other day and was on the move when I decided to stop by the new architectural design store that opened in the Windows lofts/Windows on Washington building. I'd heard of it and was curious.

Since I'm in the process of remodeling a bathroom, I was very interested in the sinks. They are still in the process of getting the showroom complete, so most of the inventory is spread out on the floor, but there was a lot of great stuff in there. The owner is in China now for a buying trip. More stuff coming soon.

I was directed to the website so I could get a better idea of what was available. Regardless, I am excited to have another great place to spend money and time in downtown west

Friday, October 14, 2005

Arcade and Syndicate Trust Coming soon

From brief discussions with Loftworks and Pyramid, the next two buildings to be redeveloped by these two companies will be the Syndicate Trust (Loftworks) and the Arcade Building (Pyramid).

This may not be a huge secret to some, since there's a huge banner on the Arcade building talking about its opening in 2005.

I heard that the Syndicate Trust building will be traditional high end condo's starting at around $200/square foot. That's just preliminary.

The Arcade building units were described as similar to the Edision Condos in form and style. No information on pricing is out or even hinted. A sales office is going to open in January.

While these projects aren't going to really be lofts by definition They are undoubtedly going to compete for the growing segment of the market: the empty nester. I think this is fantastic. Forcing the "loft" concept on people wanting traditional space is futile.

Tuesday, October 11, 2005

Go Cards!!!!

One thing that excites me more than anything is the number of sports fans that are wanting a primary or secondary residence downtown to be close to the action during baseball season. I've always known that St. Louis should be a destination city. Aside from real estate being a more stable investment over the past 5 years, people are wanting to have a home downtown because its a mecca for Cardinal fans from all over.

Growing up, I always felt that there weren't many things more exciting than being downtown during a Cardinals home playoff series. Now it seems like St. Louis is truly prospering because of this. And with all the new downtown baseball fanatic residents.......we've just barely scratched the surface.

Monday, October 10, 2005

Loft Pricing: 401

What does cost per square foot mean in the loft buying world?

I talk about this non-stop.

There is a strange change in the loft market lately. Traditionally, buying a loft before construction began (pre-construction) was a way to get a substanially lower price on your loft than if you bought a loft at the "market rate" as a resale.

Now it seems that some of the developer's have rejected the idea of selling lower priced lofts pre-construction and are selling them for the market rate even though they aren't complete. It's too early to really speak on this subject, because maybe by next year, pricing will have continued to climb and what appears to be higher prices now will seem like major discounts upon completion. I guess we will have to see if the market supports this.

One of my clients reserved in the Moon Brothers Carriage lofts for around $140/square foot and another loft in the Dorsa lofts for about the same. I'm starting to see pre-construction pricing starting at $169-200/square foot and wondering if there will be any room for appreciation by the time the properties are done.

These are the mysteries of life that one must struggle with daily. As a specialists in lofts, we just have our own way of seeing the pricing of lofts. Talking to developers though, they always seem so sure about 'the plan' and 'the price.' I really do hope they're right. Of course, when one tries to resell or even flip one of these lofts, the market will have the final say. And where will the developer be then?

We commend the developer's that have stuck to the traditional approach. People who commit early to a project should get a better deal.

Friday, October 07, 2005

One of My FAVORITES!!!!

I am one of those people that still walks down Washington Avenue looking up. As much time as I'm there, you'd think I would get over my love for the buildings and the urban landscape. One of my favorite buildings, the Ely Walker building, is going to be unveiled soon to the public with a preview party coming up.

Orchard Development, known for the Terra Cotta and Annex lofts will be completing the project sometime in 2007. Contact us now for pre-construction pricing. Contact me also for more specific details.

Thursday, October 06, 2005

Dorsa Pricing and availability

Since the folks at Pyramid have been so considerate to have all the units "listed" on the MLS we should include a link to the listings. One of the things that has in my opinion always played into the hands of the developers is the mystery about loft sales. This may appear to serve the developer's in the short run, but loft buyer's usually want all the information available. Listing properties on the MLS is responsible and does more to reduce confusion about the lofts available.

In the case of several developments in the area (Windows, Ventana) the lofts have been on the market for months before they have any listings on the MLS. In other cases (Moon Brothers), there is only one 'teaser' listing. While this is legal and ethical, it adds confusion and makes it more difficult for the average realtor who isn't "plugged in" to the loft developers to truly assist their clients.

While we keep up with what's being sold and pricing, I commend Pyramid for being so open about their projects. Click here for what is available and what has been reserved at the Dorsa.