Yeah, sorry. I get confused with all these variations on Maryland... 
- 8,912
ahh. duhhh... thanks for the correction.. sorry bout that jlblues... i believe its 17 or 18 stories... beautiful building IMO
Just to clarify: Conrad did both the Maryland Walk, now nearing completion, and also the Clayton on the Park, finished several years ago. They clearly have the capability to build highrise buildings.
Conrad is an excellent firm and a true asset to the city/ region. They take bold design to the next level, and keep st. louis on par with the great cities of the world. Now that I've said that, I've never been a huge fan of Clayton on the Park.. it's ok, but not as cool as their other projects.
Great view! That's a web-cam I'll have to keep my eye on. I can't wait to see the building start to fill in that space.
- 156
Wow, thats great. Posts like these keep us out-of-towners in touch. Thank you!
The Real Estate section in today's Post reports that they have sold 7 of 34 units so far.
^That rate doesn't seem good. Makes you wonder about the rummors surrounding the new Mills project.
An article on page three of this thread said that reservations were nearing halfway before ground-breaking. I haven't seen the most recent article, so I can't comment on it further. Are you sure it wasn't 7 of 34 remain?
It was in the seperate New Home Folio section in the Sunday Post. It says "Sales began in April of this year, and already 7 of the 34 residences have been sold, including one of the three available penthouses". That's all I know. Maybe they're tallking about confirmed sales, as opposed to "reservations".
That was one of my thoughts as well.
Another part of the article that doesn't necessarilly make any sense is that sales just started in April. It was under construction then, reservations had started a year prior. So the sales vs. reservations could be what it is.
Essentially, I think that we don't really know anything besides there definitely being 7 firm contracts, and probably many more reservations.
Another part of the article that doesn't necessarilly make any sense is that sales just started in April. It was under construction then, reservations had started a year prior. So the sales vs. reservations could be what it is.
Essentially, I think that we don't really know anything besides there definitely being 7 firm contracts, and probably many more reservations.
WE obviously won't know anything for sure until all these buildings are complete, but I do worry that the there is only so much demand for luxury highrises in the CWE and that the Park East Tower may have gobbled up quite a bit of that demand since it was the first to market. There were probably a good number of people already in the CWE who were looking for a new alternative who jumped on board that ship--who knew more towers were coming? But how many more people are there looking for this type of living experience, at a substantial premium I might add. Since the Mills project and the 2nd Opus highrise are predicated on the quick sales of the Park East, I'd like to think these developers know what they're doing and see something in the market to justify putting up two more highrises. And I really, really hope they are right. In the meantime I will be watching 4545 Lindell closely as an indicator of demand.
Tax Guru, I am reading a lot of anxiety in several of your recent posts. Especially related to new, luxury, high-rise buildings in the Central West End. Since you have invested considerable money in the Park East, you are concerned about property values. I can understand that.
As a Park Easter, you are the top of the food chain in the Central West End, if not the entire city and metro area. You need not worry so much. The same could be said for other new luxury buildings in the CWE, such as the 4545. If any one should worry, it will be the older buildings that used to be THE luxury buildings. But, trickle down will take care of them, too. The new buildings are making the Central West End all the more popular. Adding new people, retail, etc.
A couple of things to consider. The 4545 has 34 more units to sell at this time, possibly less. St. Louis has enough wealth & love for the Central West End to absorb 34 units. This will not bring the Central West End to a stop. Out of over 2.5 million people, they will certainly find 34 people that want to live in a stunning, new, luxury building on Lindell. It is a no brainer.
No ground has been broken, literally, for the other possible new towers. Your place in the real estate food chain will be firmly established by that time. If there is a market for those buildings, they will go up. If not, they will be delayed, downsized, or opened as apartments, etc.
And consider this, sending out negative, anxiety filled messages about the the Central West End condo market will not help. You need to be boosting the image of the Central West End every chance you get. For decades, it has been THE best address in the city. All these new luxury buildings will keep the CWE at the top. Enjoy it, support it, boost it.
As a Park Easter, you are the top of the food chain in the Central West End, if not the entire city and metro area. You need not worry so much. The same could be said for other new luxury buildings in the CWE, such as the 4545. If any one should worry, it will be the older buildings that used to be THE luxury buildings. But, trickle down will take care of them, too. The new buildings are making the Central West End all the more popular. Adding new people, retail, etc.
A couple of things to consider. The 4545 has 34 more units to sell at this time, possibly less. St. Louis has enough wealth & love for the Central West End to absorb 34 units. This will not bring the Central West End to a stop. Out of over 2.5 million people, they will certainly find 34 people that want to live in a stunning, new, luxury building on Lindell. It is a no brainer.
No ground has been broken, literally, for the other possible new towers. Your place in the real estate food chain will be firmly established by that time. If there is a market for those buildings, they will go up. If not, they will be delayed, downsized, or opened as apartments, etc.
And consider this, sending out negative, anxiety filled messages about the the Central West End condo market will not help. You need to be boosting the image of the Central West End every chance you get. For decades, it has been THE best address in the city. All these new luxury buildings will keep the CWE at the top. Enjoy it, support it, boost it.
Thanks for the post Expat. Real estate equivalent of "cold feet" I guess.
- 1,768
Lets not forget that 4545 starts near half a million dollars. With the Park East, Mills, and Lindell Condos all averaging in the low-mid 200s, I would definitely not consider 4545 a barometer of general demand. This development is more online with Maryland Walk and The Crescent. Remember it took FOREVER for the Plaza in Clayton to finally sell out.
TheWayoftheArch wrote:Lets not forget that 4545 starts near half a million dollars. With the Park East, Mills, and Lindell Condos all averaging in the low-mid 200s, I would definitely not consider 4545 a barometer of general demand. This development is more online with Maryland Walk and The Crescent. Remember it took FOREVER for the Plaza in Clayton to finally sell out.
But the Plaza in Clayton way more than 500s.... according to their website "998,000 to 3,100,000" There is a huge difference in the amount of demand for 1 million and 1/2 a million..... more so than 250 compared to 500.....
Do either of you know how resales are going at the Plaza in Clayton? I looked at that building too but found it a little stuffy, not that there is anything wrong with that. And it seemed Ginormous to me. Like a military installation.
- 1,768
tbspqr wrote:TheWayoftheArch wrote:Lets not forget that 4545 starts near half a million dollars. With the Park East, Mills, and Lindell Condos all averaging in the low-mid 200s, I would definitely not consider 4545 a barometer of general demand. This development is more online with Maryland Walk and The Crescent. Remember it took FOREVER for the Plaza in Clayton to finally sell out.
But the Plaza in Clayton way more than 500s.... according to their website "998,000 to 3,100,000" There is a huge difference in the amount of demand for 1 million and 1/2 a million..... more so than 250 compared to 500.....
I would not consider the Plaza a barometer for general condo demand either.
As for resales at the Plaza...I would have to win the frickin lottery just to put a down payment on it.
- 8,912
^ some of the units at the plaza have condo fees in excess of $2000.00 yes that is three 0's a month. That on top of your mtg, utilities...but if you can afford to buy there...money is really no concern...
Its like a boat - if you have to ask how much - you can't afford it....
Do you guys remember that failed plan in 2002 to build another residential highrise in clayton "Fountain Place" (http://www.emporis.com/en/wm/bu/?id=103127) I think this 29 story building would look great in CWE.
picture: http://www.stlcommercemagazine.com/arch ... ction2.jpg
picture: http://www.stlcommercemagazine.com/arch ... ction2.jpg
^I agree. Needs to loose some girth and gain a few floors, then, maybe it would look really nice on Kingshighway on one of those waste of space lots.