July 23, 2009 at 2:02 pm

Magnolia Place construction stall?

<?php the_title(); } ?>

It has been over five months since construction started on the highly visible condo project at 4101 Magnolia, but in that time it does not seem like much has been completed.In February, when construction first began, progress seemed to be pretty rapid with the property being demoed in a matter of weeks. Looking through the window openings it also appears that quite a bit of interior stud work has been completed. They even started putting windows in.

The trouble is, this rebuilding process has been restricted only to the far west wing of the building. For the rest of the project, they tore out the windows, opened the building up to the elements and then quit. Although the old windows weren’t going to win an awards for aesthetics, at least they protected the building from the weather and gave it some curb appeal.

On a quick drive-by this afternoon, there didn’t seem to be much activity on the site either. The development website has also remained untouched since it was originally put up last year. Hopefully, whatever issues have been holding the project up are soon remedied as this project is really important for the Shaw neighborhood. We’ll see what the rest of the Summer brings.


Matt Kastner is the owner/broker of Threshold Investment Properties in St. Louis, Missouri. When he isn't representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business for over four years. Email Matt


Speak Your Mind

Please Log in now. If you don't have an account you can for one or you can skip it and just fill in your personal information below. If you want a pic to show with your comment, go get a gravatar.


Notify me of follow-up comments via email.