New office closing delayed… AGAIN!

I was hoping to post pictures of my new office and home this afternoon. I was originally set to close last Thursday on the property, but the commercial tenant still hadn’t vacated and we had to push it to today. Now it looks like we have to delay it again. For another week! Seems that the fates are against me. Sometimes real estate transactions can be so frustrating.

Hydraulic Brick Lofts

I always love unexpected developments. If you have been following the death of the Fleur de Lis project at Jefferson & Arsenal, you will understand why the lack of activity at the site is so upsetting. I have really started to get used the fact the the lot might sit there for years. And then I drove by site this afternoon. The new home of a large sign displaying a new upcoming project: the Hydraulic Brick Lofts. Read more

Lehman Place in Dogtown

I’m always happy to see large scale projects go up in the City of St. Louis. Years back, when I first heard about the $5.5 million Lehman Place project in Dogtown (specifically, the Clayton-Tamm Neighborhood), I rejoiced like everyone else. Unfortunately, not all developments are created equal. Now all there is to show for the investment is a huge monstrosity of building, displaying no use of common sense in its design. And did I mention that it has been in foreclosure limbo for almost a year? Read more

More on the Lemp Brewery redevelopment

The South Side Journal is reporting that this project is “a go.” Despite continued doubts from local observers, Garrison Development reps are saying that they are moving ahead. For a more detailed update, check out the full article.

Old North St. Louis looking impressive

Two years ago when talk of an Old North St. Louis revival was really heating up I had my doubts. Last year my doubts increased with the virtual standstill in development along North Market and the continued “talk” about the revival of the old 14th Street Mall. As a former skeptic, I’d like to make a formal apology for my doubts.

I drove through the neighborhood last week and was totally floored. Not only was construction along the mall going full steam ahead, I was shocked by the amount of work being done on buildings on nearby streets. I was well aware that construction was underway, but not to this extent. Streets were fenced off, crews were everywhere and the vibe was fantastic.

There is still a long way to go for this project and the neighborhood as a whole, but the future is looking bright. According to the “What’s New in Old North” blog the current development is set to include:

“27 buildings are being completely rehabilitated as a part of this housing and economic development initiative. 33,500 square feet of new high quality street-level commercial / retail / restaurant spaces will be created, constituting the neighborhood’s first significant new economic development in decades—and a boost to the local economy and tax base. 80 units of rental apartments, townhouses, lofts and live/work spaces - reasonably divided between affordable and market-rate units will be completed as a part of this redevelopment effort.”

The question is no longer if this project is going to happen, but what kind of impact it is going to have? Quality developments in North St. Louis have been nearly nonexistent for decades, but if this project is successful it could go a long way in correcting that trend.

A public meeting discussing this project is set for Saturday, January 19th 2008 and all are welcome to attend. For more information check out this blog. Even if you can’t attend, I recommend that you drive by and check out what’s going on in the neighborhood. Make sure to pay a visit to Crown Candy Kitchen while your there. Click here for directions.

*I previously wrote about this development in the December 2006 issue of my newsletter: Check it out.

Lemp Brewery project still chugging along

This is one of those properties that has been “on the verge” of being redeveloped for years. It’s one of the few local “icons” that hasn’t been either developed or demolished. A good project centered around this complex would do a lot for the area in southern Benton Park and Marine Villa. But maybe I’m just biased because I live in Benton Park. Nevertheless, its just a matter of time before something finally happens to it. I just hope this isn’t another one of those cases where the momentum builds up only to fizzle away a few months later. From the sound of the recent article in the Post Dispatch it at least seems like this proposal is being treated somewhat seriously. Take a look for yourself: Redevelopment proposal renews hope for Lemp complex

Old North St. Louis: What’s old is new again with this real estate development project

*NOTE - This article was originally written in December of 2006 for the newsletter.

When most people hear the words, “North St. Louis”, certain images pop into their heads. Most of them, none too flattering. Unfortunately, this negative perception is not wholly unfounded. With high rates of crime and poverty, and a decaying infrastructure, the area has been in a downward spiral for years.

However, as North City has fallen off most people radar, there are still islands of prosperous businesses and communities that are holding onto the area’s successful past.

One of the most recognizable of these areas is Crown Candy Kitchen. In business since 1913, this landmark is located at 1401 St. Louis Avenue in the Old North St. Louis (ONSL) neighborhood. It still draws patrons from all over the area to one of the city’s oldest neighborhoods just north of downtown.

Once part of a vibrant commercial community known as the 14th Street Mall, Crown Candy is now an island unto itself. Changing demographics and shopping preferences have caused most of the old businesses to shut down.

Although the storied first chapter of ONSL has come to a close, the next chapter is already underway. Crown Candy Kitchen has served as a bookmark to the area’s story, and it is now the focal point of many new opportunities for investors and homebuyers alike.

Taking advantage of this new energy, many development projects have already been completed or are currently underway. The most significant of these projects is the rehab and infill construction taking place at the North Market Place project. The 30-acre development area for this project is roughly bounded by Hadley Street on the east, North Florissant Avenue on the west, Monroe Street on the south and Benton Street on the north.

The project began in 2004 through the efforts of the Old North St. Louis Restoration Group (ONSLRG) and the Regional Housing and Community Development Alliance (RHCDA). When completed, the project will feature over 100 new and rehabbed single-family homes as well as a variety of commercial and rental spaces. Many buildings have already been completed.
The early success of this project has produced an influx of much-needed revenue and publicity for the area. More and more rehabbers and developers are turning their attention to this northern neighborhood due to the low acquisition costs and respectful profit margins.

Even though progress is being made,, the ONSLRG and RHCDA have not been at rest. They are already hard at work on their next project. This time they are taking on the one-time shopping destination known as the 14th Street Mall. Just south of Crown Candy, the project is set to require an investment of approximately $25 million. The mixed-use development is set begin by the Spring 2007 and take about 18 months to complete. Whether the development could bring similar retail activity to the area as was seen until the 1970’s is debatable, but it will defiantly help the neighborhood along on its path to rejuvenation.

Local volunteers, organizations and developers have put in countless hours to bring the ONSL neighborhood back from the brink of total destruction. Thanks to their efforts, the wrecking balls have been replaced construction vehicles and scaffolding. The neighborhood’s rebirth is still in the infantile stages, but it is going full steam ahead.

Even with the recent activity in the area, there is still a lot of opportunities available for developers and businessmen. The neighborhood has a variety of resources available, which as worth a look for those interested. For more information, check out the neighborhood website at www.onsl.org.

*UPDATE - It looks like this project is finally underway. They were having trouble with the financing, but demolition and construction have started. The Old North St. Louis Restoration Group has a great blog of their own tracking the progress: newoldnorth.blogspot.com