Tuesday, February 13, 2007

Fundamentally Flawed

There was a pretty big stir created the other day about downtown living when Cordish Company's plan for the new Ballpark Village was presented leaving the residential condos as an optional component in phase 1, based on market conditions.

Riddhi Trivedi-St. Clair, wrote a follow up article loaded with misguided speculation from within the real estate industry. All sources mentioned had one thing in commmon; none of them work in the downtown loft market. None of them sell lofts, and most likely, none of them live downtown. One person quoted was a developer from a competing neighborhood.

The overall slant to the article was a popular misconception; that there are too many lofts. The fact that some developer's are holding an inventory or that some projects struggle was presented as if it's a bad thing. When I work with buyer's downtown, they get my free analysis of pricing, and unfortunately not all lofts are priced where then need to be to sell.

My bottom line: Downtown's growth and renaissance over the past few years is a WONDERFUL THING! While the post disgrace may try to stir up controversy as a way of boosting its plummeting sales, it shouldn't be a concern. The downtown real estate market has growth, appreiation and constantly improving services.

1 comment:

Anonymous said...

Thank you for addressing and correcting the misguided efforts of the STLToday.com 'journalist'.

There may be hurdles on the way to finish line, but honestly Riddhi's comments such as ...

"trendier areas like the Central West End." and "it may not be a sustainable market for a few more"

are of a person who it truly ill-informed and should think more before writing.

Better luck next time to Riddhi Trivedi-St.Clair in understanding the facts from personal opinions!!