If I remember correctly, the owner wants something like $5 million for the land.
If it appraised for $5M instead of $260,700 per the Assessor, the property taxes would be $158,452. Imagine if the taxes were assessed at how much land speculators think their land is worth.
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What someone is willing to pay vs what is valued isn’t a same thing- see Bitcoin. It’s worth nothing but some people are paying $16,000 to $67,000 for one
That's my point. Maybe land speculators' endowment effect might be reined in some if there were a consequence for it.
McBride Homes to build townhomes in The Hill neighborhood in St. Louis
https://www.stltoday.com/business/local ... c0031.html
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I'm guessing these are here?
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https://www.stltoday.com/business/local ... c0031.html
I'm guessing these are here?
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Those look waaaayyyy better than the SFH they threw up in the neighborhood.
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It frustrates me that nobody looked at adaptive reuse of the bulk of the factory complex, but in spite of that I'm glad to see the density that this brings and I hope it's entirely successful. (So that the vacant lots across the street end up developed as well.)
Draper and Kramer sent out a press release saying that Moda is 90% leased.
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That should bode very well for any developer looking to build apartments near Kingshighway.