Thanks for all the reply for Benton Park West, I would like to know how is Benton Park doing? I guess east of Jefferson to Lemp? I think it looked great, and I have alot of good memories of that area. I want to buy a house there within a year. I would like to know if anyone lives that way, what do you think of the neighborhood, is it getting more safe? I know it is still in transition, but maybe I am just being blind, because i love that area so much, but to me it seemed like 100 percent better than 10 years ago? I do have children, and I know
that no neighborhood is perfect, but as long as there are no drive bis. I think I can deal with the other things...
For what it's worth, I drive through there now and then, and it seems there's lots of rehabbing going on. The short, disjointed streets give the neighborhood a nice quirky character.
Mindyhhhhh wrote:Thanks for all the reply for Benton Park West, I would like to know how is Benton Park doing? I guess east of Jefferson to Lemp? I think it looked great, and I have alot of good memories of that area. I want to buy a house there within a year. I would like to know if anyone lives that way, what do you think of the neighborhood, is it getting more safe? I know it is still in transition, but maybe I am just being blind, because i love that area so much, but to me it seemed like 100 percent better than 10 years ago? I do have children, and I know
that no neighborhood is perfect, but as long as there are no drive bis. I think I can deal with the other things...
I don't live there, but I have a small house in that area off Pestalozzi. It's the best part of Benton Park IMHO. I really like Benton Park, it's funky and charming.
I occasionally walk there after dark and am not afraid to do so.
Matt wrote:Appears to be doing well. There are some really beautiful and unique spaces throughout the area. Lots of rehab activity on about every block.
The downside is that Benton Park is no longer priced below Soulard so that former option is gone (I think).
I think prices are gonna drop in Benton Park. Personally, I think that they were too high.
are home prices in Benton Park higher than Soulard in general or on a per square foot basis? It seems like the average house is a bit bigger in BP than in Soulard
I live and work in the neighborhood so I get to see a lot of it. Having worked here for a year and lived here for six months, I couldn't be happier. Its close by everything I like to do (except a good movie theater) without being too crowded or hectic. There are tons of great little restraints too. If you haven't been to Blues City you are missing out on the best deli in St. Louis.
That being said, my only problem with the neighborhood is the pricing as some have said. But I wouldn't let that worry me. A lot of the properties on the market in the neighborhood as overpriced and that is why they are still on the market and will be for the foreseeable future. I work in real estate and have visited most of the projects in the area. Some of these developers are way out of line in there pricing.
But deals do come up. I got a good deal on my condo and some good ones do pop up now and then. There are some really cool condos on Pestallozi (they are calling them platform living) that give a pretty good bang for your buck. I've seen quite a few bargain foreclosures too. Especially if you don't mind doing a bit of work.
Anyway, thats my take. If you have any specific questions about the neighborhood I'd be more than happy to help.
It strikes me the developers, some with nice product, are pricing the neighborhood as though every thing is completed. When in fact around the corner or perhaps next door is a fixer upper, shell, or worse. If I were buying a property I would surely want a discount for the risk that other properties don't get completed and the current pricing doesn't reflect that in my opinion.
The tax credits were supposed to compensate for this discrepancy but I think some developers are trying to double dip, or more likely over paid for their shell on the front end.
All that said BP is a wonderfully, walkable, quirky, little neighborhood. My favorite walking destination.
Mindyhhhhh wrote:Thanks for all the reply for Benton Park West, I would like to know how is Benton Park doing? I guess east of Jefferson to Lemp? I think it looked great, and I have alot of good memories of that area. I want to buy a house there within a year. I would like to know if anyone lives that way, what do you think of the neighborhood, is it getting more safe? I know it is still in transition, but maybe I am just being blind, because i love that area so much, but to me it seemed like 100 percent better than 10 years ago? I do have children, and I know
that no neighborhood is perfect, but as long as there are no drive bis. I think I can deal with the other things...
In general I'd say the north and eastern parts of the neighborhood (closest to Soulard) are the most gentrified if that's what you're looking for. the western edge closest to Jefferson and areas south of the park might be a little shadier but that's probably where the best deals are to be had right now. I wouldn't worry about violent crime, I used to walk/jog at night in the neighborhood frequently without worry. As with any city neighborhood vehicle tampering is always a concern. Next time you're there, check out the antique store on the corner of Lynch and Lemp, the guy who runs it is a character and always up for a conversation.
alfalfa wrote:It strikes me the developers, some with nice product, are pricing the neighborhood as though every thing is completed. When in fact around the corner or perhaps next door is a fixer upper, shell, or worse. If I were buying a property I would surely want a discount for the risk that other properties don't get completed and the current pricing doesn't reflect that in my opinion...
Good observation...I think some people got their hopes a little too high by looking at some of the prices in Soulard, Layfayette Square and Downtown. My favorite is when about 7 or 8 guys from the county buy an old beater for about 80K, slap a new coat of paint on it and do a little landscaping and try and sell it for 250K.
But the developer has the choice of, take a loss, do a crappy rehab, or totally overpay for a shell in an area that's already 'good'. There's a difference between a fixer upper and a condemned / crackhouse. These areas will not get better without developing these homes properly, and part of that is ensuring the AREA is safe, and/or getting it safe during construction. The bottom line is that any up and coming neighborhood needs action on multiple fronts. Rehabs, community involvment, police presence, way more than just flippers and floppers (hold the crappy property till someone fixes everything around it, and somehow the shell is magically worth 100K).
What intrigues me about this area is the green building that is going on. This month's issue of St. Louis magazine highlights an EcoUrban display home at 3140 Pennsylvania that is only one of a handful of U.S. houses to earn LEED for Homes Platinum certification. It was built by a small St. Louis company. I've got to drive by and check it out as the home looks awesome!
The house is 1,875 square feet, cost $275,000 to build, excluding land and including $50,000 in upgrades. A base model of the home starts at $219,000.
What intrigues me about this area is the green building that is going on. This month's issue of St. Louis magazine highlights an EcoUrban display home at 3140 Pennsylvania that is only one of a handful of U.S. houses to earn LEED for Homes Platinum certification. It was built by a small St. Louis company. I've got to drive by and check it out as the home looks awesome!
The house is 1,875 square feet, cost $275,000 to build, excluding land and including $50,000 in upgrades. A base model of the home starts at $219,000.
Technically, that building is in the heart of Benton Park West, not Benton Park, but I know which one you mean. I went in there a few months ago and liked a lot of what I saw. This house is actually modular. Most of it was built off site and shipped to that location. They are putting one up on Magnolia in Tower Grove East too.
I like that they are doing a more modern design, but it is pretty boring. And at that price point in that area with that price point, I can't this property ever selling. I wish similar properties could be found in Benton Park. But I don't think you could get away with it with the historic restrictions of the neighborhood.
What intrigues me about this area is the green building that is going on. This month's issue of St. Louis magazine highlights an EcoUrban display home at 3140 Pennsylvania that is only one of a handful of U.S. houses to earn LEED for Homes Platinum certification. It was built by a small St. Louis company. I've got to drive by and check it out as the home looks awesome!
The house is 1,875 square feet, cost $275,000 to build, excluding land and including $50,000 in upgrades. A base model of the home starts at $219,000.
Technically, that building is in the heart of Benton Park West, not Benton Park, but I know which one you mean. I went in there a few months ago and liked a lot of what I saw. This house is actually modular. Most of it was built off site and shipped to that location. They are putting one up on Magnolia in Tower Grove East too.
I like that they are doing a more modern design, but it is pretty boring. And at that price point in that area with that price point, I can't this property ever selling. I wish similar properties could be found in Benton Park. But I don't think you could get away with it with the historic restrictions of the neighborhood.
Yea, the article said the home is built off-site and then assembed on-site in four hours. Then the doors can be locked and the home can stay weather-tight for the remaining few weeks it takes to finish the work. The big gain, is the drastic reduction in waste production.
I don't think anyone buidling this type of home is worried about how it will do on the resale market. They are building the environmentally friendly home they want, in the area they want and plan on living there for many years. I can definitely see this type of home in my future.
irocktheparty2000 wrote:What intrigues me about this area is the green building that is going on. This month's issue of St. Louis magazine highlights an EcoUrban display home at 3140 Pennsylvania that is only one of a handful of U.S. houses to earn LEED for Homes Platinum certification. It was built by a small St. Louis company. I've got to drive by and check it out as the home looks awesome!
The house is 1,875 square feet, cost $275,000 to build, excluding land and including $50,000 in upgrades. A base model of the home starts at $219,000.
very interesting and possitive segment about ecourban homes on mondays "show me StL"
And the interesting thing is that the 3100 block of Pennsylvania is in Benton Park West.
As well as the developer for the "green" buildings (EcoUrban) lives in Benton Park West.
A lot is going on in Benton Park West -
May is the scheduled opening of the new Dog Park. Watch for more exciting news.
May/June is projected to have a Blues Festival sponsored by Benton Park West with some of the proceeds supporting the BPWNA Dog Park and the Park - Benton Park.
I actually think that they will build these anywhere that will allow them. I am not aware of any historic restrictions in FPSE, so I think you would be ok. As far as the resale on these, I disagree. No developer, no matter how big a tree hugger, is going to build something that isn't going to bring in a profit. I don't even think they could sell this for $200,000 on that block. Would you live there?
Conurbation wrote:I actually think that they will build these anywhere that will allow them. I am not aware of any historic restrictions in FPSE, so I think you would be ok. As far as the resale on these, I disagree. No developer, no matter how big a tree hugger, is going to build something that isn't going to bring in a profit. I don't even think they could sell this for $200,000 on that block. Would you live there?
True that a developer is in the business of making money and not just breaking even, however, there are developers that do take a lower margin as part of the rebuilding/revitalizing an area.
While the structure itself isn't probably something that I personally have fallen in love with, I would live on that block without a second thought (unless there was an equally attractive and inviting house in the next block).
I agree that some developers will take a lower margin out of principal, but they won't go into something if they will lose money. On the surface, that's the situation that might happen here. I'm not saying that Benton Park West is bad, I'm just saying that for $270,000, why would anyone buy this house there? Having such a high LEED rating is great and all, but you have to REALLY be into that kind of stuff to pay such a premium.
Not to steal this thread, but BPW Resident is correct: we are happy to build in any neighborhood that a buyer chooses.
Grover -- FPSE is definitely on our radar because an EcoUrban home fits best in an active neighborhood with access to public transportation, shops, restaurants and parks. We're always looking to find lots that appeal to our buyers, and that is a neighborhood that makes a lot of sense right now, especially with the new rental project slated for development later this year. If you have a lot in mind, we'd be happy to take a look at it and see if it’s a fit for one of our properties.
We recently closed a deal for a great couple on a lot across from Tower Grove Park and, while finding the “perfect lot” can be quite a process, we are willing to help our buyers find lots to build on - and finance the lot purchase if needed.
To address the discussion about our display home on Pennsylvania – We’ve priced it as high as we have ($276K) for a few reasons:
Because we need to keep it as a display unit that people can walk through in order to see what we can build for them.
Historic homes are selling for over $300K just a few blocks away – and our house costs roughly 5 cents per square foot to heat/cool, while a traditional house costs about 14 cents per square foot.
This is literally the only affordable LEED Platinum House in the country. Nothing at this level of efficiency/green exists anywhere at this price.
The goal in developing 3140 Pennsylvania was twofold: to learn green building and really see how far we could take it – LEED Platinum was the result – and to really make an impact in an emerging neighborhood. True BPW and Tower Grove East are still coming around – but I see these areas as part of a great revitalization in the Lou. My wife and I moved into BPW in 2004 and we love our amazing three story, but truth be told, it costs nearly $3000/year to operate! Sometimes you have to push change along, and we hope to offer a unique, green option for folks joining the movement back into the heart of the city.
Right now, we are looking at a couple of great options for our next homebuyers – we’ve just acquired a lot in a more established south city neighborhood, and have been looking around other neighborhoods, Forest Park Southeast being one of them.
Our goals in 2008 are to continue to offer the opportunity for homebuyers to build green anywhere in the city (and inner-ring suburbs), to really nail down a quality, well-designed affordable option ($120-150K W/OUT subsidy) and to explore opportunities for green multi-family/mixed use projects with hopes of breaking ground later this year.
^Have you been able to work around historic codes to get the ok to construct these buildings in neighborhoods with restrictions? ie. Shaw or Benton Park
