Washington Ave Musicfest Postponed

One thing that I was looking forward to this weekend is the Washington Ave Music Fest. Unfortunately, for reasons I am unaware of, it has been postponed to October 7th. Visit their website to get more information about this great event.

I am actually pretty excited about it being held in early October despite my plans changing this weekend. I'm actually on vacation in Mexico and was sort of thinking that I'll have had my fill of sitting out in the heat by then.

Check out Downtown St. Louis Partnership's website if you would like more information about events downtown.

Great New loft for sale

I am so excited to see the doors open at Moon Brother's Carriage Lofts. I was in that building so much over the last year observing the construction work progressing forward. Now that the buildings complete its just wild.

We listed the Southeast corner unit last week and have had a ton of excitement so far. We had three realtors in it within the first day on the market. Shoot me an email on Friday or later with any questions or a viewing.

This building has tons of exposed brick and great timber ceilings. Loftworks has done a great job of turning so many spaces into cool 2 bedroom lofts also. I am excited for all our clients going in. It's a gem.

Carpal Tunnel Syndrome

Oh how I wish it was still May. It wasn't 100+ degrees outside, the grass wasn't brown, and I only had 8 lofts to put in the list of monthly sales. For June and July the MLS says there are 47 sales. In truth there are many more. In June, move in's started in Banker's; July saw Lucas Lofts, Moon Brothers, and Meridian. Moon Brothers Carriage lofts, the Meridian, Banker's Lofts and Lucas Lofts all are begining to come to life. Last summer, when a bunch of projects had move in's around the same time, the neighborhoods suddenly felt different. I couldn't get a parking spot as easily in the typical places, I no longer could get a seat in Flannery's during a ballgame and so on. I'm bracing myself. Here's the sales for June and July.


June

Banker's Lofts Units
#208------------------------------------------$161,934
#310------------------------------------------$180,185
#202------------------------------------------$182,172
#205------------------------------------------$220,823
#307------------------------------------------$229,661
#306------------------------------------------$233,986
#204------------------------------------------$318,810

This would be an appropriate place to comment that Pyramid, like some of the other developers lately, should be commended for listing all the units on the MLS so that 1. Realtors can learn something about selling downtown neighborhoods without having to pull teeth, and 2. most importantly, so appraiser's can appraise lofts without looking like complete buffoons. I've had appraiser's tell me more than once that they can not use information that isn't on the MLS to justify a price. While I don't believe that, they do have constraints.

Other Sales in June
1627 Locust #204-----------------------------$156,000
1511 Locust #401-----------------------------$161,500
1501 Locust #403-----------------------------$176,900
1501 Locust #1003----------------------------$183,000
2020 Washington #210-------------------------$185,000
2020 Washington #214-------------------------$222,900
1511 Locust #307-----------------------------$229,900
1709 Washington #706-------------------------$247,900
1010 St. Charles #501------------------------$289,000
1501 Locust #1008----------------------------$311,500
703 N 13th St. #402--------------------------$325,000

July

Banker's Lofts Units
#308-----------------------------------------$179,212
#302-----------------------------------------$180,900
#303-----------------------------------------$211,586
#406-----------------------------------------$214,900
#311-----------------------------------------$224,926
#304-----------------------------------------$294,487
#209-----------------------------------------$311,788

Lucas Lofts Units
#202-----------------------------------------$115,290
#212-----------------------------------------$115,815
#211-----------------------------------------$118,590
#302-----------------------------------------$128,595
#412-----------------------------------------$129,650
#512-----------------------------------------$134,725
#612-----------------------------------------$135,000
#301-----------------------------------------$135,840
#311-----------------------------------------$139,275
#411-----------------------------------------$139,880
#502-----------------------------------------$140,300
#401-----------------------------------------$144,685
#312-----------------------------------------$144,920
#601-----------------------------------------$148,870
#501-----------------------------------------$149,300
#712-----------------------------------------$151,425
#611-----------------------------------------$152,210
#511-----------------------------------------$154,440
#701-----------------------------------------$156,685
#711-----------------------------------------$169,130
#210-----------------------------------------$193,475
#410-----------------------------------------$205,505
#304-----------------------------------------$206,875
#309-----------------------------------------$210,492
#404-----------------------------------------$210,975
#610-----------------------------------------$214,830
#208-----------------------------------------$216,055
#609-----------------------------------------$216,205
#710-----------------------------------------$220,970
#408-----------------------------------------$225,140
#403-----------------------------------------$225,820
#303-----------------------------------------$227,000
#313-----------------------------------------$247,815
#405-----------------------------------------$256,040
#205-----------------------------------------$256,637
One of my mortgage broker friends told me that Lucas lofts hadn't fully applied for abatement as of his closing at a unit. The developer had to kick in some additional funds at closing to cover the difference. Was that the case for all those closings? I wonder but have been too busy to find out.

More July Sales
1627 Locust #404-----------------------------$150,000
2020 Washington #510-------------------------$169,000
1501 Locust #1203----------------------------$182,000
1501 Locust #1202----------------------------$188,000
1501 Locust #405-----------------------------$260,000
1611 Locust #405-----------------------------$290,000
1203 St. Charles #6D-------------------------$410,000

Can anyone blame me for putting this post off 'til mid month?

And also, to my faithful readers, my sincere apologies for not posting lately. With all the technical problems and all the selling going on, its no wonder I haven't been up to date. Hope to see you at Washington Avenue Music Fest this Saturday!

Downtown Restaurants Fare Well

Tell me something new! Ok....if I wanted to break up with someone and still be seen....go to Lucas Park Bar & Grill.

In looking through the latest reader poll from Sauce Magazine I was pleased to see that many of the best downtown restaurants were highly regarded by the readers. Pleased, but definately not suprised.

When it comes to restaurants, downtown just has a superior collection. What's also nice is that many of the other recognized establishments may not have been "downtown" like Eleven Eleven Mississippi, but are just outside the downtown area.

Bon Apetit!

The Million Dollar Question

What's all the confusion about tax abatement?

Questions are always asked about tax abatment. People have different ideas. We've even heard of buyer's agent's who advised clients that Abatement means "No Taxes". YIKES!!

The principal behind tax abatement is that the building is in drastic need of repair. In blighted areas, if someone is willing to do the right thing and make the necessary repairs, the building will be taxed at the same rate as prior to the improvements. This is of course, the theory only.

Important points to consider:

Downtown St. Louis is no longer considered a blighted area.
There are only 2 buildings under abatment that are new construction.
The majority of abated lofts and condos are re-sales.
Abatement is temporary. Taxes were previously reduced for a 10 year, transferable period.
Currently new construction in other neighborhoods in the city is being offered for 5 year periods. It is getting more and more difficult to qualify for this reduction in taxes.

By comparison, taxes in Missouri aren't bad. A friend in the metro east pays over twice my property tax bill for the same valued home. Abated taxes can be just a fraction of our already reasonable tax rates. Never in my experience though, has the abatment meant total elimination of taxes. That's just not reality.

Where's the Party, Dude?

Last weekend, loft tour, this weekend, East Meets West Block Party, next weekend, Washington Ave Music Fest. We just can't stop celebrating the changing going on, can we?

East Meets West is a great concept though. Like many events, it may have to be held year after year to really get going. Downtown stores and restaurants are popping up left and right. Last week we just found out about Simply Fondue opening up in the Printer's loft building C. As a creature of habit, I find that I have to make an effort to get out and visit new places. This is just the opportunity.

The setup of musical acts was sent to me (thanks DS!) at the Downtown St. Louis partnership site. I hope to see you there!

Spring Loft Tour Day 2

On the frozen tundra of Washington Avenue we set up shop for day 2 of the tour. The much cooler and breezy weather paid off. It seemed like there were more people out and about than on day 1 when the Komen race brought in 64,000 people.

My overall impression of the attendance this year was that it was lighter than last spring, but more of the people that came stated they wanted to
buy. People seemed really excited about what they were seeing and really were impressed with the area. We felt that there were more "empty-nesters" that are really excited to live downtown.

Some of the feedback we got from people was that they liked the re-sale lofts we had open more than some of the new construction displays. Despite that, of the developer's I've talked with so far, most of them are optimistic. Traffic was really good at the Avienda and Bogen. Most of the developments that have move-ins within the next 12 months are ahead of their sales forecasts also. From where I stand, the St. Louis loft market is in great shape.

St. Louis loft tour--Day 1

Day one of the Downtown Living Tour was a blast! Special thanks to our friends and clients that stopped by to help and visit. Also a thanks to McGowan Brothers Development for letting us set up in front of the Goodman Building.

Having the Komen Race for the Cure on the same day as the downtown living tour seemed to help to get people who normally wouldn't attend. The attendance in general seemed to be lighter than last year. Possibly because the buildings are a bit more spread out (try walking from the Motor Lofts to the Syndicate in 5 minutes). All & all it was great.

My favorite part was the music and dancing troup that was there to promote MacroSun. You just can't beat belly dancers.

St. Louis Lofts Sold in May

Loft sales in May felt a bit slow. That may be in part because much of the activity was in pre-construction sales. As a realtor, I sometimes gauge my level of activity by trips to the title company. In pre-construcion, that is delayed by several months. In looking at the sales for this month, I also looked at pending sales for pre-construcion lofts. That list exceeded the actual closed sales by 1, and that's just MLS listed properties. There are certainly more in the buildings not listed on the MLS.

Here are the May loft sales:

1720 Choteau #402----------$170,600
1511 Locust #104-----------$179,900
1511 Locust #309-----------$208,825
1511 Locust #205-----------$241,300
1611 Locust #201-----------$272,500 (congrat's AB!)
703 N 13th #405-----------$287,000
1511 Locust #806-----------$293,010
1121 Locust #401-----------$435,469

It looks like the Annex cleaned up this months sales. More of those to come in June too. More and more buyer's are coming to the market asking for things like workout facilities. They definately had foresight in having a great workout room, as did the Printer's lofts.

In the past, loft sales seem to really peak following the loft tour. We'll see what June and July brings.

Gearing Up for the Downtown Living Tour

The month of June is upon us and what a month we are looking at! The annual Spring Downtown Living Tour will be June 10th & 11th and that is all I can think about lately. More and more lofts are starting to come on the market, sales seem to be picking up, and crews are working at a rapid pace to turn more and more space into gorgeous lofts. I am working hard to come up with ways of showcasing the great loft spaces that we have listed for that weekend.

What the Downtown Living Tour is to me is a snapshot of the progress this downtown has made since my college days--hanging out at clubs all over Washington Avenue and Delmar, going to parties in abandoned warehouses. I don't mean to sound sentimental, but with the Meridian, Bankers, and Moon Brother's lofts all nearing completion and so many more people looking to relocate into this fantastic neighborhood I get excited. With more people comes more business, more dollars, and more development.

In 2004, looking at the Downtown Living Tour, one still had to have a fair amount of vision to see the progress. Today you can't help but feel it. The downtown living bug is catching on and the loft tour (as I always call it) is the place to do our best to showcase the fantastic downtown neighborhoods so that the bug keeps spreading.

Lofts Properties on Display
Our loft listings on the tour

The No Spin Zone

Competition must be heating up between developer's lately.

Last week I visited several developments with prospective loft buyers. We visited one project and heard about one of its competitors and all of its drawbacks. Then we visited the freshly trashed development. After a brief summary, they started in on the other development. Hmmm.

Both loft projects can stand in their own light. They don't need to try to attack another building to make themselves look better. The more established builders don't seem to get caught up in that game.

I asked my client what they thought about the exchange. They agreed that it cast a negative spin on their process and would prefer to just hear the positives in whatever building they visit.

All the loft developments depend upon each other to transform this great city into something dramatically better. Can't we all just get along?!

What Grocery Dilema?

So ever since the first loft was built downtown, one of the major negative's I've heard from local media about urban living is the lack of grocery stores. Ask anyone that moved into 10th Street Lofts in 1999 and that was the case back then. But why do we still hear that question?

Last week at the launch party for Motor Lofts, Kevin McGowan talked about that issue. Currently there are 5 grocers downtown. These are the smaller sized grocer's like City Grocers & Lucas Park Market. There are imminent plans for a grocer at 15th and Lucas. If you want a superstore grocer like Schnucks, there are a few within a short drive (the link has the addresses and distance).

It would be great if a Straub's or Whole Foods Market would also open up downtown. I think that is likely as the population continues to rise.

As Kevin pointed out though, the average St. Louisan drives 1.8 miles to the grocery store. My parents in Ballwin have to drive 2.59 miles to get to the closest Schnucks.

So with 5 small grocer's and several more within a 5 mile radius, what's the problem?

Realtors Hit the Downtown Streets

Nearly 300 realtors attended a presentation today about the subject of lofts. It was good to see such a turnout. In order for this neighborhood to continue in its robust growth, the entire St. Louis metro area will have to adopt new attitudes about downtown living. A great place to start is with the people who assist in home buying and selling.

Once the development has moved on to some other part of the area, realtors will have to become familiar with the idiosyncrasy's of this urban market.

The New & Improved Washington Ave Music Fest

The Washington Avenue Music Festival originally scheduled for this Saturday was postponed until JUNE 24th! Washington will be closed from Tucker to 14th street. This is an event that is inclined to repeat itself if successful. BE THERE!

MOON PARTY TONIGHT!

Just in case this picture above isn't showing up, Loftworks is having a party tonight for the opening of the sales center and display at Moon Brothers. The party is from 5 to 7, and regrettably I can't be there. There are still some great 2 bedroom units available in the Moon.

The Residents

Someone from the Downtown St. Louis Residents Association recently mentioned that the organization had designed a new marketing piece and revised its website.

It's great that they are reaching out to the hundreds of people moving down here each month. Last summer, several buildings were completed around the same time. It felt like things changed overnight. Groups like DSLRA work to keep the neighborhood cohesive. This summer when Lucas, Meridian, Moon Brothers and Bankers all have move in's tentatively within days of each other, the neighborhood will be a different place fast. Hopefully the rush of new downtown residents get involved with The Downtown St. Louis Residents Association. By joining up, we ensure that downtown's residents voice is heard and considered in all that's being done to revitalize the area.

Don't Look Now.....

If the Locust Avenue Film Festival just begins to excite you about downtown street festivals, then the following day, May 20th be at the Washington Avenue MusicFest! I saw the ad in the Greensheet, and then looked online at the address. No luck there. There's only 8 days until the event so I would guess the website should be up and running by now. There wasn't any contact number either. The print ad says that its from 10am to 10pm and will include Food, Music, dancing, games, art showings, dog park and adoptions. All this will supposedly take place on Washington between Tucker and 14th.

If, like the web address, you get there and nothing happens....don't blame me.

Loft District Hosts Film Festival and Street Party

On May 19th, I plan on attending the Locust Avenue Film Festival.

I've been seeing these little blue cards all over the downtown area of late and finally picked one up. It sounds like a great time. There's music, food, games, and shopping.

It sounds like an event that should be held every month during the summer. Presented by one of my favorite shops downtown,UMA I'm hoping to get more of these cards and spread them around town myself, especially outside of the loft district. This sounds like a great opportunity to showcase the neighborhood.

St. Louis Lofts sold in March & April

What a fantastic time of year! They say that the numbers don't lie. In this case they can. There were'nt really very many re-sale options for buyers in the months of February and March in the loft district. Depending upon price range and other factors, it seemed like there were times when nothing was available downtown and buyer's had to look elsewhere....or to reserve a pre-construction unit. Of course, new construction can be wonderful, but most of my buyer's that have been contacting me lately aren't interested in more than a 90 day wait. Call it baseball season or the fear of Highway 40 traffic intensity, but people want to be downtown NOW!

We can speculate all day, but here are the sales for the months of March and April:
507 N 13th St. #606------------------------$135,000
1720 Choteau #106-------------------------$138,400
1612 Lucas #409----------------------------$149,000
507 N 13th St. #208------------------------$150,000
2020 Washington #602-------------------$152,000
507 N 13th St. #407------------------------$154,000
1511 Locust #301----------------------------$162,750
1501 Locust #303---------------------------$174,000
1501 Locust #603---------------------------$177,900
2020 Washington #405-------------------$185,000
1612 Lucas #205----------------------------$199,900
1720 Choteau #201-------------------------$203,600
1709 Washington #602--------------------$205,000
1511 Locust #707----------------------------$229,250
1010 St. Charles #503----------------------$246,000
1612 Lucas #410----------------------------$249,900
1501 Locust #204---------------------------$269,000
1611 Locust #703----------------------------$291,000
1611 Locust #604---------------------------$299,900
701 N 15th St. #503W---------------------$387,500
1619 Washington #902--------------------$420,000

Awesome 2 Story Loft!

The artistic spirit of creating a living space out of an industrial space is exemplified in this 2 story Jack Thompson Square loft. Located on the 6th & 7th floors, this loft has 3 bedrooms and large amounts of living space. Two stories of windows let in plenty of natural light. The location at Tucker and Washington is second to none. Visit our web site for more information or to schedule a showing.

My Blogging Hiatus

The past month has been a blur. We have listed some awesome lofts and been really really busy. I feel like this spring will be a great time for the loft district. For anyone wanting the March loft sales, I will be posting all that information next week along with all the lofts sold in April.

I took some time to do a few things that I hadn't ever done like tour the Campbell House Museum and visit the Missouri History Museum. They have a small exhibit on the Moon Brothers Automobile that I have wanted to see. Part of the scope of this blog is to highlight what makes the neighborhood special downtown. I'll have to post about some of this stuff soon.

One major thing that has been a year long distraction has been resolved recently. As a result of a settlment with another real estate company, we will be changing our company's name soon. We still aren't sure about what to call ourselves, but helping people sell their loft or find an awesome place to live is what we want to do. Getting an expensive course in intellectual property law is not.

The New Gateway to Downtown West

My St. Paddy's day gift today was getting some semi-concrete information on the new construction project planned for the Southwest corner of Tucker and Washington. The information was listed this morning on the MLS. As soon as it popped up, I called to interrogate the listing agent about all the details.

The pricing appears to start out around $198/square foot for the base price non-penthouse, which is hard to.
justify without more details about base plan and upgrades. Overall it sounds like an exciting project and a better use of such valuable space.

There are going to be 17 units, five of which are 2 story penthouse units on the 6th & 7th floors. Pricing on those ranges upwards to around $248/square foot.

Of course, since plans are still in the works, any details here are certainly subject to change, but contact us to get reservation information. Most definately, these 17 units will quickly sell long before the scheduled Spring 2007 completion date.

February Loft Sales Stay Strong

It seemed as if the intense rush of loft buying that was going on in late December / Early January tapered off a bit in February. Lots of the closings took place in February.

The market is still very strong. For a brief period this winter the area experienced a bit of a seller's market. There were limited choices for many of the buyer's in the market in December - February.

Summer is just around the corner. New lofts are coming on the market every day. We're getting into the busiest real estate time of the year soon.

We're getting ahead of ourselves.... Here's the downtown sales that took place in February.

1700 Chouteau #311------$116,060
1700 Chouteau #209------$119,200
1700 Chouteau #303------$143,200
1627 Locust #704--------$144,000
1700 Chouteau #206------$170,180
1511 Locust #408--------$184,175
1612 Lucas #205---------$199,900
1511 Locust #802--------$202,350
1709 Washington #801----$209,000
1511 Locust #202--------$210,575
1612 Lucas #405---------$217,500
1619 Washington #303----$229,000
1511 Locust #407--------$231,500
1511 Locust #606--------$235,000
1501 Locust #209--------$235,000
1501 Locust #905--------$264,900
1501 Locust #705--------$278,000
1611 Locust #303--------$285,000
703 N 13th #308---------$331,000

Click here for the loft mls listing details for these sales.

Stadium Issue of the STL Business Journal

It was great reading the business journal this morning with a great deal of focus on the new Busch Stadium and also all of the development that seems to be targeting the areas growth relating to the new stadium and ballpark village. For someone that spends lots of time reading about and studying downtown development, it's rare that I get really overwhelmed with excitement. Today was one of those days.

Of the articles that grabbed my attention the most, cover story about the work going on around Gratiot Street and 4th was interesting. I had heard this development area being dubbed, the "icehouse district" about a year ago. It seems that it will really round out the downtown area and break away at the void between downtown and Soulard.

As soon as this weeks paper is placed online, the stories will be linked here.

Happy 38th Birthday Bob Ray!

Stop by the Washington Ave Post today to wish Bob a happy birthday.

Feng Shui of Loft Design

I was reading this article in the Arizona Republic and thought it was worth a read (Note: unless you've visited the Arizona Republic online before, you will be asked to complete a brief survey before viewing the article....sorry). One of the best things about working downtown is being able to see the great designs and creativity used in decorating lofts once a buyer moves in. Of course, that can also be a difficulty, because due to the unconventional styles, sometimes people can not visualize themselves in a more modern environment. Click here to see some lofts decorated by Better Homes and Gardens online.

The loft shown here is a relatively small space that, when decorated, was a fantastic living space. It sold in just a few days on the market. Its eye-catching design and great layout probably had a hand in its quick sale.

Blog Directory

Art Loft Theater was a Blast!

Back in January, I posted about the Art Loft Theater at, where else, The Art Lofts.

On Friday we experienced the play Batboy. It was a hit!

I don't know what my expectations were, but they were exceeded. The acting, singing and story were tremendous.

There were two suprises though: one was that the bathrooms were "uni-sex" which to me, means one either sex can go in at a time. These were more like, everyone goes in at the same time with only a bathroom stall seperating men & women. A little strange.

The second suprise was that I didn't see anyone I knew there. Neither did my better half. It seems like there were few downtown residents that knew much about it.

Based on the webpage of the Art Loft Theater, they do say that they "Bringing 17,000 People a Year Into Downtown St. Louis." Maybe now that there are already some people downtown, they can get some home grown support. It's definately a great evening out!

Order Batboy tickets on Metrotix.

Action is good!

A few weeks back, there was a meeting at the Downtown St. Louis Partnership about the traffic patterns downtown and what needs to be done. It was a good meeting with some good ideas.

In a brief meeting with the Downtown St. Louis Partnership, I asked about implementation of those ideas. They said that it was in the works. I've noticed a few improvements, like driving down 14th Street, the lights seemed like they were all in synch. Also, a couple weeks ago Locust Street was changed to two way (west of 14th Street--it is still one way going west east of 14th).

Ideas thrown around about how things can be improved are always good, but its fantastic to see that the city is really serious about taking action to improve downtown. Could that have something to do with more voter's in the city elections are living downtown?

Lofts Across the Country

A guy called me today from San Diego. He is interested in a loft in St. Louis. Talking with him about the prices of lofts in San Diego invigorated me. Ocassionally I work with someone, often times a native St. Louisan, who seems to think lofts are all overpriced and that they are a fad. I hate to say it, but its true.....some people think that way.

One of the sites I enjoy clicking around on to get a feel for pricing in other cities is

Of course, I hope Lofts in the 'Lou is really "your loft resource," but seeing lofts for sale in some cities for over $700 per square foot reminds me of how fantastic our city is and why the loft market continues to be so busy.

January St. Louis Loft Sales

January was another busy month in the world of downtown lofts. Of course, sometimes the business doesn't translate into closings right away. There was an intense busy spurt where it seemed as if there wasn't a supply of lofts on the market. Of our listings, one sold and two went under contract in January.

The Terra Cotta lofts seem to have the best sales this month. Four sales with an average days on Market of 48.5 days. That average was brought up by one listing that seemed a bit high on price and one that I had a hard time showing that had a respectable 59 days on market. The other two listings sold in 4 days and 21 days. NOT BAD!!!

Here's the St. Louis loft sales on the MLS for January:

507 N 13th Street #207 $120,000
1501 Locust #301 $165,000
1501 Locust #601 $170,500
1511 Locust #210 $190,425
1612 Lucas #305 $211,000
1501 Locust #1006 $254,900
1501 Locust #905 $264,900
View all the details here!

Congratulations Crepe's in the City

Sunday was a record day for Jose & Mary's "Crepes in the City" at Washington Ave Post at 1320 Washington. They made a record of 105 crepes. A late comer, I had crepes 101 and 102 (I was hungry, what can I say?). I can't seem to forget about the Zamba, and I tried the newest item off the menu.

There is a fantastic menu of crepes that suit just about any taste. Check out the menuand stop by for some great food!

The Bottle District sudden turnaround

In talking about downtown St. Louis real estate, one of the big question marks people have is "The Bottle District." As far as major developments go, it seems that everything is on course based upon the article in this past weeks business journal. Hopefully more information will be ready for the Business Journals February 17th issue that features downtown developments.

I'm not really that crazy about the new name, The Gateway Village. "The Bottle District" sounded unique. Ok... there is unofficially the "loft district," but the new "Gateway Village" name seems to redundant in St. Louis. There's already plenty of things named Gateway in the downtown area (Gateway Arch, Gateway Mall, Gateway One Building, etc.) And the new Ballpark 'Village' will be just blocks away.


It is great to see that the plans for building residential towers are continuing. I was asked yesterday to what extent would the bottle district impact the loft district. Seeing some of the clubs and nightlife being moved away from the loft neighborhoods, it seems that the bottle district or gateway village may help add some entertainment destinations. It also seems like people fear that this great city will become too diverse or have too many facets. I'm not worried about that today.

More Space for Urban Dwellers Downtown

Just over a week ago, I was standing next to the Paul Brown Loft Apartments looking east at the beautiful Chemical Building at the Northeast corner of 8th and Olive. Not sure of its current use, I was wondering if it would ever be redeveloped and turned into a more classy office space or condo development.

The wait wasn't very long.

According to this weeks St. Louis Business Journal article on the front page, Crossland Capital Partners and Heismann properties, the developer's of the Meridian Lofts, have purchased the Chemical Building and plan a mixed use building. Existing tennants in offices will be moved to the first few floors, rental apartments will occupy most of the building and the top floors will be for sale as condos according to the article.

Looking at the ornate and unique architechture of this building, it should be exciting. The developers say that they will be building more traditional apartments and condos as opposed to loft style apartments and condos.
Looking at the rear of the building, there are several corners, so a great possibility exists to have a superb view in any number of locations, particularly in the top level condos.

The vision of the new downtown is becoming more and more clear as the weeks pass. More will follow on the progress of this development. Initial projections of completion are for April 2007. Lets hope for the best!

2020 Loft For Sale

Fantastic 1 bedroom loft for sale in the Lofts at 2020! It is a great sixth floor unit with a northern view facing the Adler Lofts and Majestic Stove Lofts. .
Lofts like this weren't on the market but for 30 minutes during the summer. The market has been very good since then, but it is picking up quickly.

This loft features hardwood floors, ceramic tile in bath, open floorplan over 1023 square feet. Upgraded lighting and custom cabinetry. Washer, dryer, and stainless steel refrigerator are included in the modest purchase price. It is MOVE IN READY and TAX ABATED.
Taxes are less than $8 per month.

The Lofts at 2020 (otherwise known as the Sporting News Lofts) are located on Washington Avenue right in front of Schlafly's Tap Room and the Pepper Lounge.

To visit this loft, contact us via email or at
314-517-5050

Cultural backbone of Washington Avenue

I was just surfing around the internet when I found this link to the Art Loft Theater. Unfortunately, I had never been to any of the performances and thought that it had closed a while ago.

I'm excited about the new lineup of shows coming out starting February 23rd with Bat Boy, the Musical followed by Jesus Christ Superstar in June.

Click here for Metrotix online for tickets to Batboy.

Click Here for Metrotix online for tickets to Jesus Christ Superstar.

Another Year for Loft Data

Happy New Year!!!

Conveniently, I did some searches the other day to get an idea of what the loft market has been like in the past few years. There have been several out of town clients that have been asking me lots of questions about the market lately.

Its always nice to be able to just point to the market information instead of talking about it. So here are the past 5 years of loft sales (taken from the local Multiple Listing Service).


Year--#Sold----$/Sq Ft----Ave.Days on Market----Ave.Price
2005-----121----------$156-----------------209-----------------$256,678
2004------84----------$141-----------------233-----------------$187,976
2003------53----------$135-----------------170-----------------$214,890
2002------25----------$121-----------------248-----------------$186,674
2001------19----------$104-----------------194-----------------$233,908

Keep in mind that these averages in some cases reflect the buildings that were released and priced on the MLS for those years. Some developers only use the MLS to list one unit, sort of as a 'teaser' listing to attract people to the building for a complete tour. About 50% of our loft sales have taken place outside of the MLS.

Regardless of the case, the averages indicate a nice steady period of growth and appreciation and not the insane type of markup that is more indicative of a "boom and bust" cycle.

Again, Happy New Year!