Saturday, February 07, 2009

Get Down to the Ballpark!

St. Louis Ballpark Lofts
Last month we were able to list the Ballpark Lofts! A Blue Urban project, these lofts were long thought to be sold out within 1 day. An NFL style draft was a great concept, but did, combined with the recession, didn't work out past the theory. As downtown specialists, never heard until recently that there were some units that didn't close that had come back on the market.

So today, the buildings completed. The units are spectacular, many having views of the stadium, Stan Musials statue and the Gateway Arch. Spring training starts next week, and in a short time the area surrounding Busch Stadium will take on a new life as it does every year.

We're holding the lofts open today for the first time and we have a special buyer's incentive! Any unit reserved today will receive a custom paint package at closing!

The open house will be from 12pm to 3! We hope to see you there!

Friday, January 30, 2009

Urban Oasis

Construction means different things to different people. In general, it pushes people away. Sidewalks are closed. Construction vehicles, dump trucks, cranes and fences take up the sidewalks and block off the area. Prior uses of a space come to a halt and the project takes over.

Right now, there are two projects nearing completion that are currently in the state described above. Thier eminent completion this spring/summer will revamp downtown in a much needed direction.



This weeks St. Louis Business Journal had an article about the Post Office Plaza and how its problems are being addressed. The unanticipated costs of construction is nerve-wracking. In this case, assuming a parking lot hadn't been the construction dump from a prior building at that location was the problem. Kudos to the Danforth Foundation and the Partnership for Downtown St. Louis in keeping the project moving forward. In order to repay a loan from the Danforth Foundation, organizations or idividuals can purchase "naming rights" to park benches for $7500, so businesses like mine who are just shy of buying naming rights to a sports arena can participate.

Just a few blocks away from the Old Post Office
is the nearly complete CITY GARDEN. Expected to be completed by mid summer, this park between 8th and 10th along Market will be another opportunity to showcase downtown and give residents and visitors an enjoyable hiatus. Unlike the plaza style of Post Office Plaza, the combination of art and nature is a welcome addition.

Wednesday, January 28, 2009

St. Louis City Sales Data 2007 & 2008

Last week, I put down a fair amount of information on the downtown real estate market and provided the sales information about the area. I also talked a bit about how the year of 2008 felt for a real estate professional (2008 Real Estate Sales Downtown ).

The post is something I've tried to do for a few years. Putting the year in perspective.

Of course, that was just downtown.

Hearing a news broadcast yesterday, I heard some remark about housing values and felt that the report was misinformation; exagerating the markets downturn.

Today I pulled up the city wide sales statistics. Looking at single family residential, condominiums and multi-family homes, the report is included below, but the most notable data follows:

Year----Total Sales Number/$ Value----Average Price---Days on Market

2007--------5000 / $701,227,559---------$140,246---------------88

2008--------4532 / $515,009,046---------$113,638---------------99



city%20sales%202007%202008.pdf

Thursday, January 22, 2009

2008 Real Estate Sales Downtown

St. Louis Lofts
This post is something I've been thinking about all year. After 2007, as a realtor, I felt kicked around. As we found out a few months ago, a recession started in December of 2007 and we could feel it. My annual Downtown St. Louis real estate sales post,was appropriately titled "To Forget or Not to Forget 2007." We were starting to notice problems on the horizon. Regardless of the hard work or the below market pricing, some listings just wouldn't sell. That was a new problem. Buyer's were surfacing into the market with a cut-throat mentality. Low-ball offers and walking away after the first counter.....another strange new anomoly. Despite the changes that were just appearing on the horizon, as things continued to get progressively more difficult and bizzare in 2008, that post came to mind.

Despite getting harder, the market makes sense today. A year ago, we were still waiting for over 2000 units to flood the market. Nearly all of those had to become rentals as demanded by the bank. Developer's had to start taking responsibility for the loans. Some couldn't.

Pyramids collapse in April was a dismal blow. Despite the numbers not making sense, John Steffen had a vision for our city that was adopted by many. "Paris on the Mississippi" was his line. His ability to do so much at one time was questionable, and ultimately a big part of the company's demise, but the end result was something worth believing in.

The financial crisis which played a big part in Pyramid's collapse has taken its toll on just about all projects downtown and elsewhere, from Ballpark Village to our listing at Westgate Lofts not being completed. Easy street is no more.

When the media covers the financial crisis, the stress always seems to be on foreclosures and personal finance, when the bigger news seems to be the effect on large scale commercial projects. Being out with a buyer a few days ago, they insinuated that the shift in scale of Ballpark Village was proportional to the ability of downtown to sustain that project. My thought and comment was that projects all over the world have been scrapped, delayed,reduced, or changed like Brown Shoe and more recently the Shriner's Hospital.

Foreclosures and relocation sales have taken thier toll on the sales prices this past year. Appraisals are supposed to take similar properties in similar sales conditions. Not using a distressed property to compare with a property being sold "at market" is the standard, but unfortunately, in some places, there aren't any sales taking place other than foreclosures or relocation sales. In this regard, downtown is fortunate. Foreclosures are prevalent, but not the majority of sales. Looking at the sales data though, seeing a loft sell for around $100 per square foot is just wild. The condition of these units are often times horrible.

To sum it all up personally, feeling "bashed in the face with a baseball bat" didn't feel good last year. Now the real estate market is all about getting "bashed." Interestingly though, it's not as bad as the media makes it out to be. We're having the best January as a company we've ever had. Interest rates are favorable and supply is good for buyer's. For seller's it can be horrible unless able to price extraordinarily low and STILL get low-balled.

Happy New Year! Here are the MLS sales from 2008.

Year--#Sold-------$/Sq Ft----Ave.Days on Market-------Ave.Price
2008----109-----------$163-----------------237-----------------$227,668
2007----178-----------$186-----------------181-----------------$240,252
2006----221-----------$164-----------------93------------------$223,063
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

See The Whole Report Here

Wednesday, January 14, 2009

Down to the Ballpark

Ballpark Village St LouisAs a realtor, I've been asked lots of times about the Ballpark Lofts. There really wasn't much to say for a long time. Things started up with an interest list, followed by an event "the NFL Style Draft" where each and every one of the units on floors 3-5 were reserved. Up until a month ago, I'd never heard anything different.

When we got a call from Kevin McGowan to help out with the building, it really excited me for three reasons: its the only "for sale" development within 2 blocks of Busch Stadium, they're move in ready, and lastly that they weren't really made available to realtors to share with buyer's due to the draft style reservations.

Once we got to the building and inside each and every unit left, I was impressed with the views and the modern finishes. With Spring Training starting today, I'm thinking of how the landscape will transform with Cardinal red coming so soon. Also with Ballpark Village's recent approval and removed residential components, these spaces will be the only ones available in Ballpark Village.

Contact us to check out the Ballpark Lofts and get one of the best spaces for Redbird season today!

Sunday, January 11, 2009

Do You Have to Sell Now?

St. Louis loft deals
I'm going out with a buyer this morning and am just blown away by the deals out there. Foreclosures, short sales, and just plain motivated sellers are pretty much all that's out there.

It begs the question that we ask all our prospective listings now; do you HAVE to sell NOW? In a bad real estate market, in the middle of winter, during a recession? Usually we get some derivitive of "yes" to that question. The bottom line, if you try to sell now, you're leaving money on the table--and having to compete for buyer's with those (especially relocation companies) that slash prices incredibly.

Unfortuantely for the buyers though, dealing with banks can be a nightmare. We work with them all the time in either foreclosures or short sales and they can really give the impression that they don't care about anyone.

Monday, January 05, 2009

Happy New Year Ward 6


In the past, the downtown area has been exempt from having to perform occupancy inspections at the sale or change of residency of a loft or condo. As a side effect from the rift going on at the King Bee Building, it was ordained that buildings downtown would begin to be incorporated into the city's HOUSING CONSERVATION PROGRAM

In November, I checked with the office in room 406 of City Hall. As a city landlord and resident, these inspections are familiar. Asking when they would be adding downtown buildings, they told me to check back.

So it was strange, last week, when I did look up the Terra Cotta address to find that they, along with all the other downtown buildings in the 6th Ward, were now assigned to Conservation district 54. (This presently includes 2020 Lofts, Terra Cotta Lofts, The Annex Lofts, Printer's Lofts, Railway Lofts, Windows Lofts, King Bee Lofts, Paris Style Lofts, Knickerbocker Lofts, Garment Row Lofts, Denim Lofts and Westgate Lofts) All the buildings are scheduled to require occupancy inspections by July 1.

Looking at downtown, it should be interesting. Just like any other situation, being able to get the occupancy inspectors into a building requires more leg-work than necessary in a house. Its also one more step in the process of selling or renting your loft.

Thursday, December 11, 2008

Sick Buildings!

St. Louis LoftsNothing new to report here. Buyer's get freaked out when they see lots of places for sale in a given area. Drive down one street in a neighborhood and see two or three houses together with 'For Sale' signs and people start asking what's wrong with the area. Is the Love Canal flowing in back? Is there a crack house on the corner?

The funny thing about downtown is that some buildings go out of there way to force EVERY prospective buyer that walks into their building to see how many units are, or have been on the market based upon the number of lock boxes they see when they walk in the door or as they walk by the building. This is a problem that really should be fixed. Not only does it reflect on the building, but it reflects on downtown as a whole.

Of course, having a buyer's agent like myself, we can explain that there are a number of units that have sold and still have the box there. There are others that may be for rent, and there are still some that just need a lockbox for entry of a utility or service technician. We can also point out that in a building with 100 units, having 10 on the market isn't bad. In the mind of a buyer, no one would want to sell in the building they want. It would be too cool for that.

So this may be another post for the condo board members out there to consider. If the first message a buyer gets out of your building is that a bunch of units are for sale, you have a problem. At a time when re-sale value isn't something we even want to look at, its not a bad time to address the things that will hold back re-sale values in ANY market.

Monday, November 24, 2008

To Live or To Sell!

Downtown st louis lofts for lease
Last month at the Downtown Neighborhood Nights, we ran into one of our clients. With so much for them to do and see, we didn't spend too much time talking except for a few brief minutes. How's your life? Do you enjoy your space? etc.

We found out they had become the Association President too.

That brought up the subject of how they had chosen to implement leadership in the building.

One topic that seems to be coming up lately as a problem for people trying to sell is the creative RENTAL RESTRICTIONS have been implemented in some of the loft buildings downtown.

It seems that buyers, when faced with a decision between two or three lofts will choose one with less restrictive by-laws. Their "short list". That often times one of the determining factors is conveyed like this, "well if I ever needed to rent this one, I could." Of course some loft buyers have every intention of renting out their space at some point of their ownership.

We discussed that with our client. He cited some research that was provided regarding appreciation levels in comparable buildings. One building chose to "manage" its residents affairs with edicts and fines. Another similar building had higher fees with less restrictions. According to the study, in this situation price appreciation was higher in the building with less restrictions. Instead of being heavy handed, the condo association held parties and mixers in the building so that residents could get together and talk about issues in an informal setting.

Of course, I have no idea what study this is or the validity. There could be other factors not made clear in our discussion.

It seems interesting though, that the lofts we are trying to sell with the most difficulty have strict rental restrictions while the units that seem to sell faster have less absolute restrictions regarding rentals or other matters. Since the summer, we've actually sold more units in the Syndicate than any other building. While prices are drastically lower in resale units,

Also interesting to me is that often times condo board members we talk to only cite the negative problems that rentals can cause and seemingly have little or no interest in how restrictions can stiffle resale. Seemingly there are two sides to the matter, and those that believe having strict limits on rentals do so because they are entirely focused on the buildings livability and fear of renters. Selling and resale value tends to not be as high of a consideration. The minority of people selling seem to take up the issue of association restrictions at times, but as people leaving the group, they have little influence. As a realtor, of course, we'd like to think we focus on the "big picture" but my primary interest with buyer's is usually resale.

Condo assocations to have to consider the number of leases allowed in a building to keep the building "warrantable". Usually that number is a maximum of 40-49% leased units. The former giant Pyramid had a brilliant scheme: to only allow rentals for "original owners" creating a noble class within their buildings. This really was a scheme that allowed them to sell with less trouble, and to reduce competition for them down downt the road. Members of the noble class always seem to embrace this right. Sometimes those affected by strict rules talk lawsuit: forcing the will of one onto the many. That doesn't seem like the way things should be handled either.

No matter how this issue is viewed, or any other, one thing clear is that setting policy in condo associations can be a delicate matter. No training or education is required to be elected to the board or to lease, but having some collective wisdom or case studies available to those who serve would be nice.

Monday, November 17, 2008

Help Design Lucas Park TONIGHT!

Downtown St. Louis Lucas Park
In just 30 minutes from now, a "design charette" will be held at Crepes in the City, 500 N 14th St. It should last until about 9. Plenty of discussion has led up to this event in hopes to transform the current space into a more useful and welcoming park for all the city residents.

Thursday, November 13, 2008

One Holiday Thought.........SHOP DOWNTOWN!

downtown st louis santa























A Big topic of discussion this year is holiday retail shopping. Turn on the news. There's talk of the economy and its effects on how much a person will spend on gifts this season. Our thoughts aren't how much, but where our money is spent.

Growing up in suburbia, no one really had to worry where they shopped. Most shops were owned by big business paying minimum wage to its employees. My wife, on the other hand, grew up not far from me but had an entirely different outlook. There were the malls and all the big box retailers, but there were a few strip malls nearby her home with mostly independent businesses. It was important to her to support them because without LOCAL SUPPORT, the storefronts that made up that community would be empty.

Looking at the downtown streetscape, what's different? Particularly around the residential areas, take out the Sprint store and what's left? Small, locally owned and operated independent businesses; many of which are owned by downtown residents!

There was a big increase in store openings in the past year which really helps everyone. Turning around empty or unsightly street level retail does more to change public perception of an area than having 100 occupied lofts sitting above them.

Earlier in the year, we posted about shopping downtown. That was more about the city not being supportive of the downtown retail district.

This is the call to all city and downtown residents and workers. With the economy suffering and retail sales lagging, it's more important than EVER to take care of your own neighborhood by SHOPPING THERE! From my experience as a realtor, downtown residents always get excited by stores and restaurants opening up in and around their building. The thought of these same residents leaving the downtown area to shop would be a disappointment.

Last week, Mrs. G was out with a friend from Springfield MO, enjoying THE LONDON TEA ROOM and Sushi at Wasabi when they did a little window shopping at the new ladies accessory shop D'Elegance, someone pulled them inside and they began holiday shopping. Do your part by adding your "wish list" items from stores downtown and supporting them! Not only will it benefit the owners, the local residents but also will keep tax revenue in the city. SHOP DOWNTOWN!

Friday, October 24, 2008

Our National Audience

Urban Core
Last week, setting the record for audiences at the Gateway Arch Grounds was a nice day of publicity for our otherwise HO-HUM National Park.

Not that the Arch isn't great, but really, outside of some good scenery, what is it?

Today's cover article on STLTODAY.com talked a bit about the little struggle we have going over the hope for revisions of the arch grounds.

According to the NPS, they can't just listen to what St. Louisans want. It has to be opened up for a national competition, similar to the one that Eero Saarinen was in. Seems respectable, huh?

This was posted back in April, the last time the media covered it.


Three concerns I have now. 1. The Arch Grounds are a National Park and should be treated accordingly....BUT we have to live with it year in and year out. Plans should be something that takes into account the city's desire for a world class destination, not just a quick makeover.

2. The actual plan that Saarinen submitted for his original contest victory was more involved. What we have is a stripped down version. Original plans include a theater a levee restaurant, an architectural museum and a history museum. Also the grounds would be forested and the Old Rock House would have been re-built from original materials. The NPS had an opportunity to get it right already. It makes a hell of a fairground, but is it something that brings people downtown?

3. My hope was for a call to action from within the city. Contact your Congressman! Of course, saving the economy has been a bit more pressing, but this should be a close second!

Claims that its National Historic Site should prevent local pressure to make improvements is NONSENSE! I would understand if it was Arlington National Cemetery or something of historical significance but c'mon! Everything historic was razed for the modern art, grassy landscaping and westward expansion museum. Nice, but historic? I might even be swayed by a bit more history on the part of the city that was destroyed to plant the Arch.

Tuesday, October 21, 2008

Party in the Park

Downtown St. Louis EventsLots of talks have taken place about what can be done with Lucas Park. What happened in the past month or so is really fantastic....the talk turned (quickly) to action. Who is to say what the best use of the park is, or how it figures into the neighborhood, but having it cleaned up is fantastic!

Support the efforts and show up!

Fearful?

St. Louis Lofts realtorsLast week, Warren Buffet said something that really hit home with me about his investment choices. He said he follows a simple rule, to "be fearful when others are greedy and be greedy when others are fearful." As a believer in home ownership, it wasn't disconcerting back in 2004 or 2005 when many buyer's came to me wanting to find a home. Buying was a foregone conclusion in those days. At the Ely Walker Lofts release party, I remember some people that tried to reserve several lofts. Stories of huge profits from flipping lofts were legendary then and people wanted to cash in that night. I think about that evening often.

When the market really tanked in Florida, I thought about the launch party at Ely. I heard stories of people getting stuck with multiple units and not knowing what to do. Greed really reared its ugly side.

Despite the markets in many locations being turned upsides down and many of the builders downtown having to drastically change their business plans, the market isn't as horrible as we hear on the news.

One presidential candidate is going around saying that the housing market has "collapsed". When the stock market collapsed during the great depression, it lost nearly 90% of its value. In contrast, our housing appreciation has mostly just flattened out with slight drops or slight appreciation based on market demand.

Other things I keep hearing is that the credit markets are frozen. No one can get a loan. "You watch too much TV!!" was what one mortgage lender told me. I had called him to ask if they'd be able to fund a loan set for closing last month. Of course, there are limitations. Some good, some not so good. Most of what industry professionals called "exotic loans" are a thing of the past. Also, much of the lending going on is in the form of loans that can be sold on the secondary market or otherwise insured by FHA or VA.

So thoughts about the world today are that the news media is spewing bad advice, engendering terror and paralyzing the community. People that buy homes right now are following the most fundamental rule in investing: buy low and sell high. Had I not gone on my buying spree last year, I'd be greedy right now.

Friday, October 17, 2008

The End of an Era


The last time I had something stolen from me in Downtown St. Louis, I was different, downtown was different, and the scenario was different.

Back in 1994, I was a student at UMSL. It was finals week and I was studying all afternoon and evening. I stopped off at Club EVOLUTION to relieve some stress, parked at 13th and Washington and returned about an hour later to find my car window was smashed and my backpack with all my books and notes had been stolen. ON FINALS WEEK! I searched around for at least 30 minutes looking in dumpsters until I found my books strewn across a dumpster full of broken beer and liquor bottles. Wearing only my well worn Birkenstocks, I climbed in and retreived everything except a microcassette recorder. My encounter that morning was likely caused by a person looking to survive in abject property.

Last night, I was enjoying myself at a table set up on Washington Avenue, about 3 blocks from where my last incident occured so long ago. A call came in from Howard McCauliffe, an agent with us that was holding open the City Museum Loft 509W (incidentally, one of the best deals around). He said a middle age, brown hair but balding man, about 5'9", came into his open house and told him that he wasn't allowed to hold an open house that evening. They discussed it, they seemed to agree that it was acceptable to hold an open house (who ever heard of a building that prevented you from reselling your loft?) Then about a half an hour later, a fellow loft owner came in and told him that his(our) sign had been taken.

After a day of calling trying to get our sign back the only option was to call the police.

The funny thing is that in the current market, these lofts probably won't sell anyway. They're priced above market and are in a building that has limited financing options. Even getting a loft to appraise out at over $200 per square foot would require an exceptional space in a building that supports that type of sale. Lastly, in this market or any, it seems odd that anyone wanting to sell housing inventory would shoot themselves in the foot by (allegedly) conducting such a selfish act directed at someone who specializes in selling their product.

As for crime in the city goes though, our last sign to be stolen was a month ago in West County. Go figure.

Tuesday, October 14, 2008

Downtown Neighborhood Nights

St. Louis Printer's Lofts
A couple weeks ago, the idea of hanging out downtown in the evening at the first ever "Neighborhood Nights" seemed idiotic. Sleep deprived, wanting to watch Sarah and Joe duke it out from Wash U. I could think of too many reasons not to be there. Afterwards, all I can say was that I was wrong.

Traditionally the Downtown St. Louis Partnership (recently renamed "Partnership for Downtown St. Louis")held a spring and fall loft tour. Each year, the tour became bigger and wider--going from the small cluster of a few buildings to sprawled out between Jefferson down to Broadway taking two full days to see everything. Still, even with all the hoopla that surrounded the loft tour, it just seemed like something was missing. Tours were usually held during weekends downtown where there wasn't much happening. Residents seemed like they wanted to avoid the whole thing. Whether the crowd was good or not, the normal hustle and bustle of the city seemed to be slowed down and covered up.

St. Louis real estate
At the first Neighborhood Nights, covering the Old Post Office District east of Tucker, I saw what I wanted to see at the preceding tours, the typical buzz of downtown. City lights. A different feel.

This Thursday we'll be there again. The starting point will be at the English Living furniture store at 15th and Washington. Our table (weather permitting) will be a block west on the Corner. We have some great listings at the Printers Lofts open as well as several downtown agents to provide information.

We hope to see you there!

Thursday, October 09, 2008

"Is Now a Good Time to Buy?"

bargain real estateLately I've become a bit of a CNN junkie. All the politics and economy talk seem to get me every time.

With the economy on the ropes people are looking for serious advice.

Well don't start stuffing the mattress just yet.

Based on the news, I wouldn't think it was feasible to get a home loan right now. "You watch too much TV!!" was what one lender told me when I asked if they had any money to lend. The question made sense. All we hear about lately is frozen credit markets, blah blah blah. Restrictions and changes keep coming, yes. So far though, it seems like qualified borrowers haven't been denied.

Rates continuet to drop. Lenders are still lending and home prices, though fairly stable, do continue to favor buyers. The way it looks, the housing market may help pull us all out of the recession.

Friday, September 26, 2008

The Boom Downtown

Downtown St. Louis residentsLoft style has become mainstream in America. Black Granite, high ceilings, slab cabinets, modern decor. Tre Chic. Many loft buyers take this modern style and make their loft space into an attempt at self-expression. Stylish artwork, photos, great designs and modern furniture.

A few years down the road, a different style can evolve. Cool ultra modern stuff begins to share the space with more pastels. Bright colored objects stashed around the floors. Mobiles. Rubber duckies in the spa-like master baths. They become "baby-fied".

With our traditional St. Louis values, some people decide to move away. But what if they don't? Is it acceptable to have children in downtown St. Louis?

Fair housing laws were established in 1968 to protect the rights of people to live where they want regardless of who they were. Race, Color, National Origin, Religion, Sex, Familial Status, or handicap are the "protected classes" in the US.

Recently I heard of a couple that was being harassed by neighbors due to their child crying at night. The condo president got involved, trying to be helpful and resolve the matter. What actually resulted was clearly discriminatory.

They decided to sell their loft because they didn't feel welcome in their building.

One thing about downtown St. Louis, we have our very own office of the Department of Housing and Urban Development (HUD). Discussing this situation with the investigators, they advised that any attempt to control the behavior or living conditions of an individual or couple based on the fact that they have a child is discriminatory and violates the rights of a protected class of people (familial status). Regarding this situation, they told me that the intent of the person making discriminatory actions was less important than the perceptions of the persons being discriminated against.

In light of this situation, it might not be a bad idea for several of the downtown loft condo boards to hold a joint informational meeting on this topic. The folks at the HUD office seemed very open to meeting to talk about Fair Housing matters and to educate those who may be involved. While downtown residents may establish expectations about fellow residents, they should always remember that the neighborhood is open to everyone and the last thing a condo association needs is for its board members to waste time and money dealing with complaints from HUD.

Tuesday, August 26, 2008

So That's What's Happening?

downtown st louis demographic inversion
Working in many city neighbhorhoods gives me a picture of St. Louis that is optimistic. I remember in my former occupation when a client of mine was buying a home in Lafayette Square. He was excited about all the development and changes going on. It was 1997. I just didn't see it.

Now Lafayette Square is a vital urban neighborhood that has stimulated progress in surrounding areas (Old City Hospital, the Gate District, etc.).

Urban sprawl still takes place, but at a much less forceful rate than it has in the past. Also, the people I've worked with looking in places like Wentzville are generally in the entry level price range where the average suburban home buyer in the 1970's was often time able to afford significantly more than what home prices were going for in the urban core.

Other than gentrification, revitalization or adaptive re-use, there is a term that is used to describe what has been happening in St. Louis and other inner city areas in the past few decades. This article in the New Republic describes the process as "demographic inversion". It was a good read; worth sharing. In a times like today when massive amount of development drastically slows down, the false conclusion that there is a problem with downtown. This article reminds me that the trends underlying the shifts in population are still active, and are much more subtle than the amazing transformation that has taken place in such a short time downtown and elsewhere in the city.

The subject of demographic inversion isn't always perceived as positive though. So much talk of displacement of the poor disenfranchised citizens seems to be present when areas are gentrified. The problem (poverty, crime) still remains but just moves elsewhere. Some agree on this point, but another observation is that while gentrification often gradually changes the demographics of a neighborhood, the areas where the poor relocate vary and are never as concentrated as what took place when the inner cities were summarily abandonded by the middle class.

More will be revealed as time goes on. Progress in St. Louis keeps moving.

Saturday, August 23, 2008

Today's Action

Between the Cardinals game this afternoon and my open house at the Banker's lofts from 12-2, one wouldn't think there was room for anything else downtown, but what does one know?
Downtown st louis events
Metropolis is an organization that is hosting "The Lot" and a worthy event it is. Who would want to miss the Funky Butt Blues Band?

Really though, the mission of Metropolis has always inspired me in that St. Louis should never have become a place where entire generations sole focus is to move away. While it seems that the city and downtown's re-birth seems to be happening naturally by participation of several types of entities (government, quasi-government, developers, businesses and residents), the voice of Metropolis has been a positive force throughout the past decade worth hearing.

Happy Birthday to Metropolis and Come on out and enjoy the LOT!!