urbanSTL

I saw that bldg when I was there looking for lofts.. I did not like it. Ugly windows, ugly colums.. Yuck and way to expensive. The guys there are from CA and they think they are still in CA.. Naqh..

loftlover wrote:I really don't get the fixation with amenities. So you have a roof top deck and a wading pool? In a couple of years Washington Ave will be so packed with things to do and places to hang out, why be stuck with paying monthly for something you'll seldom use? I seriously looked at the Meridian, but concluded it was overpriced. At $175 a sq ft (average) without upgrades, I found much more value in other buildings. It's got location going for it, but I doubt it will hold up over time on the resale market. And what's with the "light well". Imagine putting down that kind of coin without windows (only three sides of the building have windows). I also found a huge price differece between the lower and upper floors, and from what I experienced, the lower floors will be plagued by road noise.

What did you find that was a better value than the meridian?

I found Railway Lofts (where I ended up buying) and Bankers Lofts to be a much better value (in the 150 sq ft range). Unfortunately, both buildings are now sold out, but I think Pyramid has a new building just West of Bankers comlng on the market soon. In fact, there's not a lot of choice at the moment, at least not until some of the recently announced projects start selling. I'm not sure if <A HREF="http://www.urbanstl.com/viewtopic.php?t=805">Moon Bros Carriage Lofts</A> has anything left, but they too were reasonably priced although the location is off Washington. Lucas Lofts are selling fast as well.

loftlover wrote:I found Railway Lofts (where I ended up buying) and Bankers Lofts to be a much better value (in the 150 sq ft range). Unfortunately, both buildings are now sold out, but I think Pyramid has a new building just West of Bankers comlng on the market soon. In fact, there's not a lot of choice at the moment, at least not until some of the recently announced projects start selling. I'm not sure if <A HREF="http://www.urbanstl.com/viewtopic.php?t=805">Moon Bros Carriage Lofts</A> has anything left, but they too were reasonably priced although the location is off Washington. Lucas Lofts are selling fast as well.

I remember looking at Bankers & Railway before making a decision to go with the Meridian. The prices were similar but I liked the location and architecture of the Meridian better. Note, when comparing, it helps to price configurations at a similar floor, square footage, and number of bedrooms & bathrooms. Also back in late May, the Railway and Bankers didn't have as wide of a selection of units available however the Meridian did as they had just begun taking reservations.



Location also plays a factor. All else being equal, I'd hope you would pay less per square foot for a loft that isn't in as attractive of a location.



I think the Meridian is going to be a great place to live and has great value. Of course, there are other good developments as well. They all have their pros and cons. I just encourage people to shop around and find a place that's best for them.

Innov8ion, I won't debate location with you except to say I think its important to be on Washington. The Meridian is central, but Bankers is closer to the action and to the Metro. Similarly, Railway is in a more pedestrian area of Washington and could end up being more central as the west loft area continues to develop.



I will, however, argue price. The Meridian was clearly more expensive consideing all factors such as layout, amenities, upgrades, etc. Even at the base price, the Meridian was over 40 sq ft more (using the 6th/7th floor as an example) than either Bankers or Railway. If you want to compare price sheets, I'd be glad to do so.



I'm glad you found value in the Meridian, as the value equation is a very personal matter.

In comparing price sheets, regardless of the development, make sure apples are compared to apples. Pyramid, althought they do a fantastic job of finishes, does not include everything in their pricing. Basically anything you want extra costs extra, including building out the 2nd bedroom though its advertised as a 2br. That can cost $10-15k depending how much is needed.

I agree with your insight on location. I like the idea of being able to walk around and check out the shops, restaurants, clubs, etc on Washington while still being able to walk to all three stadiums or the Landing. It's all within a one mile radius approximately.



As far as price, I have a 1218 sq ft, 6th floor loft with 2BR/2BA @ $170 / sq ft. I remember looking at Bankers & Railway and didn't find anything close to that for $130 / sq ft or less as is suggested. It was actually quite commensurate to the price I paid from what I recall. Meridian pricing also looks favorable when you compare to Lucas Lofts. If you have price sheets, I'd look at them out of curiousity.



I don't know where you're getting data that shows upgrades at one location to be more or less expensive than the other. They should be fairly comparable.



So yeah, I'm happy. You're happy. Everyone's happy.

loftlover wrote:Innov8ion, I won't debate location with you except to say I think its important to be on Washington. The Meridian is central, but Bankers is closer to the action and to the Metro. Similarly, Railway is in a more pedestrian area of Washington and could end up being more central as the west loft area continues to develop.



I will, however, argue price. The Meridian was clearly more expensive consideing all factors such as layout, amenities, upgrades, etc. Even at the base price, the Meridian was over 40 sq ft more (using the 6th/7th floor as an example) than either Bankers or Railway. If you want to compare price sheets, I'd be glad to do so.



I'm glad you found value in the Meridian, as the value equation is a very personal matter.

I am surprised to read that the meridian was not perceived to be a good value. In having looked at many of the lofts both downtown, Lafayette Square, the Central West End, and Kirkwood (yuck), the Meridian seems by far to be the best value. Although the upgrades are not firmly established, the philosophy put forth by the sales team is generally not to make money on the upgrades the way everyone else has. For instance, upgrading to stainless steel appliances everywhere I have looked has cost something like $3000 but the Meridian starff has anticipated charging a third of that. (For stainless, carpet and bathroom tile Kirkwood even calculated $37,000 for upgrading a 1100 square foot unit). It is my understanding this is more commensurate with actual cost if you check it out. That makes a huge difference to me and I appreciate it.



Furthermore, everyone has their preferences but it floors me that people have purchased very expensive units at the Lucas Lofts but only a few units have more than one toilet. Every visitor is using your personal bathroom and going through your medecine cabinet. Obviously there are other factors (like the communal spaces) that make the difference for those buyers but for someone like me, who is not really very interesting in chatting up the neighbors, that makes absolutely no difference. I currently live in a complex with a pool, clubhouse, and fitness center and have never set foot in any of these amenities. To each his own, but I cannot see how the Meridian is not a good value.

I agree that the Meridian is one of the best values out there. Many say they dont have the amenities. They aren't having an exercise room because it would add too much to HOA fees and there is a gold's gym down the street. No rooftop deck because it isn't feasable with the building constr. As far as the units themselves, I havent seen any development with the level of finishes and standard items at this price point. The prices are very competitive, my unit being the most popular 2br in the building, at $156/sf. Upgrades are going to be pretty much at developer cost as shelbyelsye said. They are even trying to source granite at a cheap enough price to make it standard. Now that is what Im talking about. I personally dont understand people paying upwards of $180-190/sf at Lucas and still having to pay for upgrades. But thats just me.



Again as was discussed before, value is perceived differently by everyone.

fountboy wrote:I agree that the Meridian is one of the best values out there. Many say they dont have the amenities. They aren't having an exercise room because it would add too much to HOA fees and there is a gold's gym down the street. No rooftop deck because it isn't feasable with the building constr. As far as the units themselves, I havent seen any development with the level of finishes and standard items at this price point. The prices are very competitive, my unit being the most popular 2br in the building, at $156/sf. Upgrades are going to be pretty much at developer cost as shelbyelsye said. They are even trying to source granite at a cheap enough price to make it standard. Now that is what Im talking about. I personally dont understand people paying upwards of $180-190/sf at Lucas and still having to pay for upgrades. But thats just me.



Again as was discussed before, value is perceived differently by everyone.

Value is perceived differently but there are also some tangibles that it can be based upon. When comparing pricing you do have to look at things like amenities, finishes, and location (in some respects). The two main things that mainstream buyers inquire about is a rooftop deck and parking. They may never use the deck but they want the option there. And yea, Gold's gym is down the street but not for long, then what? I too think $180-$190 a SF is high, especially with no options but look how well Lucas is doing. I'm curious to how Meridian is selling. Do you have the latest figures? I'm happy as pie to see developments getting $180-$190 a SF as that just increases my value and I hope all developments do well as that is what the big picture is all about.

From that last figures I saw, all of the smaller 1br's are sold out, All of the 04 unit I have is sold out, I think in all the project is about 1/2 sold out.

I just thought that I would share that I was told last night that granite countertops and a granite backsplash are now confirmed as a part of the standard package. They will be releasing a few of the penthouses this weekend as well.

My boyfriend and I reserved a 7th floor unit at the Meridian and we're VERY excited! We think it's a great value and we'd much rather pay a lower maintenance fee than to pay for amenities that we'll rarely use.



Based on some of the posts on this forum, they must have changed their policy... we put 2500 down to reserve the unit, then we'll have to pay another 2500 in 12 days. 60 days from the 12th day, we'll need to put down 4% of the purchase price, less the 5000 we'll have already paid.



The building is now over 50% sold and most of the best units are gone already.

I reserved a light well unit. I was going to purchase a unit with a view, but I did not like looking at the ugly hotel across the street. At least the zen garden, light well and waterfall will be beautiful all year long. I live in florida and have a swimming pool. I can not think of the last time I was in. The pool ammenity did not matter to me. Expecially since the other lofts will have outdoor pools. No brainer, how much year long action will that get. As for the gym walking up the stairs to my unit or walking to the numerous attractions in the area is enough excersise for me. When I come home I want to pop a bag of popcorn, turn on the t.v. and chill. Not go work out and go swimming. At $163 per sf that's not bad compared to my effenciency condo in Tampa at $235 per sq. ft.



I think the people that complain about the Meridian's need to look at units in East St. Louis. I don't want to be neighbors with cheapskates.

Wow, congrats Chad and aimster! It'll be a great building to live in, and right in the middle of the action downtown.



No need for everyone to get defensive about their buildings. I currently live in the chicago area, and lofts in all these buildings in stl are gorgeous and absolutely a steal compared to other big cities. I think that over time, the value of all these buildings will begin to show as downtown matures. An exciting time to get into the game.

Jeff wrote:Wow, congrats Chad and aimster! It'll be a great building to live in, and right in the middle of the action downtown.



No need for everyone to get defensive about their buildings. I currently live in the chicago area, and lofts in all these buildings in stl are gorgeous and absolutely a steal compared to other big cities. I think that over time, the value of all these buildings will begin to show as downtown matures. An exciting time to get into the game.

^ditto



Why are people being competitive about the different buildings? Different people are looking for different amenities. Nobody is wrong. Everyone of you are luckier than you know. Everyone one of those buildings and lofts are fantastic. People in DC would knock themselves out to get something half as nice for double and triple the price.

I know what you mean Expat. I moved to Tampa from washington dc two years ago. I am not planning to relocate to st. louis any time soon. My mother and father in law live in St. Louis and they are in their seventies. Instead of doing an ALF my wife and I thought a loft would be cool in the city. They can get around and there is much for them to do. They can sell their home rent from me and enjoy the Washington avenue district.

I reserved a lightwell unit, too for the same reasons. I think it is a great building and a great buy for a lot of reasons. For me it is a great fit as I have no desire to pay for or utilize any common areas or amenities. Has anyone heard whether any of the newly-released penthouse units got reserved this weekend? I know there was a waiting list but I wondered if anyone put the money down.

Yes, I know someone who just reserved one.

In case anyone's interested, I talked to someone at the Meridian today who told me that the fire marshal is making them work from bottom to top, instead of top to bottom the way they planned. As of right now, they're expecting all units to be finished and ready to deliver on 6/26/05.

Any info on camparative monthly assn. fees between buildings? Meridian is less than $1 per sqft or ~$150 for a 1500sqft unit...

Billster wrote:Any info on camparative monthly assn. fees between buildings? Meridian is less than $1 per sqft or ~$150 for a 1500sqft unit...

Dorsa is $2.00 a SF. Printer's is $1.35 a SF. I know some have said that certain developers will advertise low association fees knowing full well that the fees will quickly go up once everyone is in. Not sure if there is any truth to that but thought I'd throw it out there.

I 'm paying $1.40 sq ft at Railway and I think Lucas is in the $1-1.25 sq ft range. Be careful in doing any comparisons as different buidings include different things with these fees. For example, the only utility I pay at Railway is electricity.

Another question, a bit off the topic--



any body with recommendations for an interior decorator? Somebody who works well with clients--incorporating well clients' styles, likes and dislikes?

Joan Oppenlander is Fabulous Interior Decorator! You will love her! I think her number is 477-6541.