urbanSTL

dweebe wrote:I would love to see what units 606 and 610 are like for $340K to $400K.

From what I can tell nothing too crazy to command that price. They are corner units with balconies which could be considered a premium but one of them is lacking in the number of windows typically associated with a corner unit. They both also have rather long zig zag shaped hallways that turn direction three times which really eat up square footage. But who knows, maybe once up in the space it feels huge and has some pretty cool views.

I am going to buy a unit in this development and I agree that I don't see value in any of the units worth over $250K because of the square footage and the limited views. You have to pay a large premium for a two-bed unit and even more so if it's on the sixth floor.



I can confirm that irock's statement about parking is true. MW gave me the same prices over the phone a few days ago. You can pay $65 / month in the surface lot behind the building or 18K for a secure covered parking space.



I don't know what other developers are charging for secured parking but 18K seems like a lot for a parking space. I guess you have to pay a premium for parking just because it's close to the stadium.

In building parking spaces are worth quite a bit. Even in our building(far from the stadium) extra garage spots were 17k, so 18k there seems fair.

We paid 10k for parking. Did get a "deeded" spot though, which is good.

All paid for/included spots are deeded. Part of there reason I think extra spots were 17k in my building is supply and demand. There were only so many second spaces available, and man people wanted them. Good ol' economics for ya I suppose. 18k for a spot directly next to the staduim, where going rate is $30 on game days, seems fair to me. But tht does make the price per sqft a little high...hmm...maybe I spoke to quickly earlier about them targeting the "less expensive unit" demograpic. These places are pricey, when you consider size and ammenities. Once BVP opens up though, I think it'll be worth every penny.

The BPV will demand premium pricing, which will make other developments nearby look like a bargain, and "may" drive those prices up steadily.



I am keeping my fingers crossed that the BPV does well. I think a lot will hinge on the success of that project. That said, some of my friends are already showing a lot of interest in "investing" in the BPV. That to me is good news.

bsharmastl wrote:

Urban Elitist wrote:All paid for/included spots are deeded. Part of there reason I think extra spots were 17k in my building is supply and demand. There were only so many second spaces available, and man people wanted them. Good ol' economics for ya I suppose. 18k for a spot directly next to the staduim, where going rate is $30 on game days, seems fair to me. But tht does make the price per sqft a little high...hmm...maybe I spoke to quickly earlier about them targeting the "less expensive unit" demograpic. These places are pricey, when you consider size and ammenities. Once BVP opens up though, I think it'll be worth every penny.

You are lucky. I did not even have the option to buy a second space in my building. I too would have paid 17K, if I could have got another spot.

I happily paid 17K for my second spot but still think it was a bit steep. As UE stated though, supply and demand. I still don't get why a developer just would not include the one parking spot in the purchase price instead of making it an option. Perhaps there aren't enough spots in the building for all residents, so they make it an option.

irocktheparty2000 wrote:I happily paid 17K for my second spot but still think it was a bit steep. As UE stated though, supply and demand. I still don't get why a developer just would not include the one parking spot in the purchase price instead of making it an option. Perhaps there aren't enough spots in the building for all residents, so they make it an option.

This puzzles me as well. It's pretty much standard practice to just include one spot. Maybe they want to appeal to the people who only want a place to stay before and after games, and are assuming that they would park and ride Metro to the building? I don't know.

MW indicated that the surface parking lot that would be available for $65 / month has approximately 800 spaces. I will find out how many secured spaces are available for 18K on Saturday. I assume that it may be somewhat limited in terms of the number of spaces available.

Whatever M/W did, looks like it worked. Close to sold out (57 of 68 units) in hours!



http://www.urbanreviewstl.com/archives/000929.php

I am REALLY surprised how fast these guys sold those lofts. Under an hour? Wow.......



This makes me believe that the BPV will now command a VERY high price and I believe they will still sell out.



This is good news for STL DT in the short term. I can only hope that it is not "just" investors who are buying these prime properties, else the long term prospects may be iffy.

wow - and I thought these were a little overpriced

They were, compared to other developments, but the location.......... wow

even in my condo building in clayton, The price difference between my unit (top) and the bottom floor unit was about 20k... My unit comes with 2 garage spots vs. 1, vaulted ceilings, a balcony and a view of the clayton skyline... I'm not sure what can be attributed to what value, but i probably wouldn't have bought there without the second garage spot....



but now I can walk to the Link... horray!!

i probably wouldn't have bought there without the second garage spot....



but now I can walk to the Link... horray!!

AMAZING.

Ihnen wrote:

i probably wouldn't have bought there without the second garage spot....



but now I can walk to the Link... horray!!

AMAZING.

What's amazing??

^



A: bpe235 likely wouldn't have purchased the condo if it were not for the second garage spot.



B: bpe235 is now excited about being able to walk to the Metro.



C: The chage from A to B shows what can happen to the car-dependent. I hope this occurs more often. I think it's amazing.

However,

Switch to unbundled parking to pay the real costs of parking so that the developer can add more units

This is the response I got from an email I sent to MW:



"We will start in late spring of this year, and we are scheduled for

completion spring of 2008.

We are not announcing any retail at this time.



Thank you,



Adhar Usher

Marketing and Sales

McGowan Walsh

2200 Washington Avenue

St. Louis MO 63103

adhar@mcgowanwalsh.com"

I talked to Adhar about the retail in this building and they are going to have retail in this building but they can't announce anything at this time. They are in negotiations with three potential tenants at this time and will be announcing the retail aspect once they are in a position to do so. When I talked to Nat Walsh at the signing event, he indicated that one of the tenants may be Rock Bottom Brewery but I haven't heard if they are one of the three tenants they are negotiating with.



Also, Adhar indicated that there are many people wanting to get in this building which is a positive sign. I am renting my unit if anyone is interested or knows anyone that may want to rent in this building.

When I talked to Nat Walsh at the signing event, he indicated that one of the tenants may be Rock Bottom Brewery but I haven't heard if they are one of the three tenants they are negotiating with.

Yeck, this is one of my least favorite places in Chicago. I'm happy to see a national retailer considering the space, but man, please go to Schlafly Taproom before this place - the food and beer is far superior.

Can it be? Has construction finally started?



Coming into work today, I noticed a guy who looked like he was installing a new window at the 10th & Spruce building.