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Saint Louis Construction & Housing News Focusing on new construction & redevelopments within the Metropolitan Saint Louis Area...  www.slfp.com St. Louis Front Page P. O. Box 1354 St. Louis, MO 63188 http://www.slfp.com Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com |
by Bob Moore, SLFP.com ST. LOUIS, (SLFP.com) April 24, 2005 - For the first time in over 30 years, a luxury, 26-story, high-rise condominium is being built in the heart of St. Louis at Euclid and Laclede in the Central West End. John Pitcher, Director of Real Estate Development and head of OPUS' St. Louis office, proudly announced during ground breaking ceremonies that this 21st century, art-deco style building was their first residential development in St. Louis. "And we are thrilled to do so," he stated to Central West End residents and local city officials. "None of this would be happening today, however, without the commitment of many people here. Our vision is to offer unparalleled amenities, amazing views and urban vitality to attract buyers from throughout the metropolitan area and other cities," continued Pitcher. Pitcher noted that the building would be equipped with many modern conveniences from door attendant and enclosed parking to gourmet kitchens, private terraces, fitness center, club room, outdoor terrace and swimming pool. Floor plan options vary from one-bedroom to three bedroom condominiums to ultra luxurious penthouse residences. Prices for the condominium homes will range from $250,000 to over $1 million based upon home size and location within the building. In an interview with Saint Louis Front Page following the ceremonies, Pitcher stated, "I was quite surprised to see the number of people from outside the city and from outside the Central West End that have bought units from us." "We have actually 65% of the units sold. We sold about 50% in the first five months of the project. We expect to be sold out by late fall which will be about a year ahead of time the first units will be delivered to the buyers," stated Pitcher. A new urban environment in the heart of the City
"We have 200 new units going up down the street here," stated Roddy. "The Forest Park Hotel has just reopened with 120 units. We have a new hotel that just opened up a block away. And, we have a number of developments that are going on in the area." "This $50 million project is going to be an important contributing factor, not only with the 89 units but with the 8,000 square feet of retail space." "You have more residents living on these couple of blocks than anywhere in the area. In other words, there's just a whole lot of people living in a relatively small area," stated Roddy. Roddy commented on the economic impact of this density for the Central West End. "What that means is that all those people go out and they just want to buy stuff. They just walk around. It's a very pedestrian oriented environment," stated Roddy. "In Chicago, you have the Lincoln Park area and in Boston, you have the Back Bay," Roddy continued. "So you create an environment, where people can live without an automobile because you are only a short walk to the MetroLink stop." "As we get more and more people living down here, we hope to be getting all kinds of new retail, like small grocery stores. It will be a new, exciting urban environment."
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This is an exciting project, a new high-level watermark for the city, stated St. Louis 17th Ward Alderman Joe Roddy.