Blog > Blog > Archive by tag 'Benton Park West'

January 20, 2010 at 1:40 pm

It’s been far too long since I have relayed my thoughts on the state of the investment real estate market, so in the spirit of the season, here is a quick rundown of my current investment market impressions in South St. Louis, Missouri:

  • Single-Families – There is no doubt that the $8000 homebuyer credit had a positive impact on house sales in the fall. September and October were especially productive. With the deadline for the credit originally set for November 30th, buyers were in a frenzy to find and close on properties prior to that deadline. Of course, when the program was extended until April 30th, 2010, the sense of urgency wore off. Couple that with the typical slowdown during the winter holidays and the market for these properties has been particularity slow for the past month or so. The good news is that with the holidays now over and the new homebuyer credit deadline  approaching in a little over three months, the market should see a nice resurgence soon. After April 30th though, its anybodies guess what is going to happen. So if you are in the middle of am rehab or thinking of selling a house, I would hurry up.
  • Condos – Not much to say here other than to avoid them. There have been some pretty good deals out there as of late, but the big issue is that buyers can’t get condo financing right now. Unless you can make sense of renting a condo or seller-financing it, I would stay away from them until something changes financing-wise.
  • Multi-Families – Where last year seem to offer a steady mix of 2-family and 4-family foreclosures, the last few months have been very heavy on the duplexes. Since the fall, however, things have been very heavy on the duplexes. Some of the single bedroom properties don’t present the greatest deals, but there heavy been a  fair amount of 2+ bedroom properties that heavy been pretty solid. It seems that a great many of the 4-families out there have already been foreclosed and sold, so it is possible that this might be somewhat of a permanent trend.
  • Apartment Rentals – November and early December were great for renting mid-level apartments. We moved a lot of inventory during that time. The properties that seemed to be getting less activity were the cheap units ($450 for single) and expensive ones ($650 for single). There hasn’t been much of a resurgence following the holidays as seems to happen some years. Lots of window-shoppers out there requesting showings, but not many pulling the trigger. Average would probably be the best way to describe the current amount of rental activity.
  • Neighborhoods – When looking for investment properties, location and price are always big factors. But the one thing it is hard to control is where all the good inventory is coming from at any given time. Much of last year produced a glut of quality foreclosures and short sales in neighborhoods like Tower Grove South, Shaw and Tower Grove East. But since the fall, things seem to have shifted increasingly eastward, with the best deals coming up in Tower Grove East, Fox Park, McKinley Heights, and Benton Park. Areas further south such as Benton Park West, Gravois Park, Dutchtown and Bevo continue to have a solid flow of inventory coming through as well, obviously rentability and resale remain a concern.
  • Best Investment Bets – So what’s the moral to this story? Obviously you should be on the lookout for all types of property in any quality area, but if I had to point you in one direction it would be Tower Grove East. Despite the sluggish economy of the past few years, or maybe even because of it, this neighborhood is really changing fast. There has always been a nice housing base, but the vast amount of foreclosures on derelict and substandard properties recently in the neighborhood has created a huge influx of development in the vicinity. Pricing hasn’t really caught up yet so there remain some pretty good deals. Look out for properties of all types there. Also pay attention to the increasing number of singles and duplexes in Benton Park and McKinley Heights. Benton Park West and Gravois Park within one block north or south of Cherokee is also a place to watch.

September 8, 2009 at 5:35 pm

The new grocer in Benton Park, Pointer’s Market, is now open at 2901 Salena. Yours truely hasn’t been there yet, but they have been open for almost a week. Benton Park is really coming into it’s own when it comes to business and residential progress. Looks like they just got another good addition to the lineup. Read more

August 31, 2009 at 6:16 pm

It’s been nearly a year since I moved my company, Threshold Investment Properties, into my current building at 2654 Gravois and I haven’t stopped working on it for one minute. The building has quite a ways to go before its done, but the office itself is nearing completion. The best example of this transformation is the nearly complete storefront. Read more

August 4, 2009 at 7:01 pm

Let me go on the record as saying I love historic architecture. It humbles me to think that with all the technological advancements of the last 100 years, the buildings of 100 years ago display a level of craftsmanship that seems to be lost in the modern day. That being said, our current system of preserving these historic structures misses the point entirely Read more

March 3, 2009 at 5:45 pm

File this one under a non-real estate related bit of nonsense. Driving down Cherokee Street in Benton Park West this afternoon, I noticed a mural, which I have never seen before: This picture of Barrack Obama. Read more

February 13, 2009 at 1:39 pm

With the St. Louis Public School system ready to slash the number of schools they are operating across the City of St. Louis, one of the biggest questions on everyone’s mind is what is going to happen with the shuttered schools? Read more

December 4, 2008 at 3:51 pm

Today I finally got a chance to take another look this morning at the inside of Foam, the upcoming coffeehouse/nightlife destination coming to 3359 Jefferson. Things are starting to come together and the place should hopefully be open sometime in January. Read more

October 22, 2008 at 5:55 pm

While Cherokee Avenue in the Benton Park and Benton Park West neighborhoods as had its share of troubles in the past few years, there is no doubt that the overall outlook has looked continually positive. I’ve posted about Cherokee locations such as The Stable and Foam, but it looks like the whole area is getting a pat of the back. This time from the Riverfront Times in their Annual “Best of” list. Read more

October 9, 2008 at 5:00 pm

I’ve seen quite a few Blue Brick signs in various areas of South St. Louis over the past couple of years, but never really took the time to find out more about them. A few weeks ago, Brad Roell, co-owner of Blue Brick, contacting me through this blog to see if I wanted to check out some of their projects. I accepted his invitation. Read more

October 9, 2008 at 3:07 pm

I just got word from Foam owner, Mike Glodeck, that they have passed their rough mechanical inspections and are now moving on to insulation, drywall and flooring. Now that they have jumped through most of the hoops put in place by the city, progress should pick up. I’m going to pay another visit later in the month to check out how the inside is looking, but I did get a few new photos of the exterior. Looks like the glass is now in on the storefronts and they have been experimenting with paint colors. I think its going to look pretty great when they’re finished. What a change from what was there before.

August 14, 2008 at 3:54 pm

Following a couple of delays, and still with a few strings attached, the purchase of my new home and office was finally closed today. I was reluctant to post much about it until I closed, but now its open season. This image is a picture of the front facade of the building. Many of the others I have taken have personal items of current and former tenants, but those included should give you an idea of the makeup of the building. Read more

August 14, 2008 at 3:17 pm

I’ve been dropping tidbits about this project for months so I figured it was about time I produced some more details. Especially since this Benton Park West microbrewery will finally be open soon.  I managed to meet up with owner Mike Glodeck yesterday and finally got a chance to take a look inside. Read more

July 31, 2008 at 12:09 pm

The side of Park West Grille (2917 Jefferson Ave) just got a face lift. Check out this great looking mural that now advertises the site as you drive along the burgeoning South Jefferson Commerical District. It adds a nice touch to the strip, don’t you think.

July 8, 2008 at 2:06 pm

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

June 5, 2008 at 5:04 pm

A couple of months ago I posted about a pair of upcoming microbreweries opening this June in the Benton Park neighborhood of South St. Louis. I happy to say the the first of the pair, Mattingly Brewing Co, finally opened last week. I had a chance to take a look at the finished product and sample some of the food this afternoon. From what I have seen so far, things are looking promising. Read more

Next Page »