Recent St. Louis Housing News

Sheila Sweeney named acting head of city-county partnership
stlouishousingmarket.com
Sheila Sweeney, a politically connected real estate consultant, has been named as the interim boss of the St. Louis Economic Development Partnership. Sweeney is filling in for Denny Coleman, who is officially retiring on Aug. 1, but his last day at ... [...]
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Discussion on rising interest rates
stlouishousingmarket.com
The Federal Reserve of St. Louis reports sales increased by nearly 18 percent – twice the national rate. Area home prices also increased by nearly six percent; again, also higher than the national rate. In its latest report on economic conditions in ... [...]
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Developer McKee loses some NorthSide property to foreclosure
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Michael Allen, a building preservationist who years ago documented McKee's purchases of north St. Louis properties, attended the foreclosure. He said afterward he believes Campbell, through foreclosure, is nibbling away at NorthSide in an effort to get ... [...]
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Wages flat but employers are hiring in St. Louis
stlouishousingmarket.com
The metro St. Louis real estate market is making a nice comeback after a weak sales year in 2014. Sales are up 18 percent from a year ago. The Fed quoted CoreLogic, the real estate data firm, which estimated that prices here were up 5.8 percent over ... [...]
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North St. Louis strip center gets new owner
stlouishousingmarket.com
Baceline Investments, of Denver, said Wednesday it has completed its acquisition of Grand Marketplace, a strip center in St. Louis, for $1.275 million. The center, at 1401-05 North Grand Boulevard, is 82 percent leased, Baceline said. Tenants include ... [...]
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McKee loses some NorthSide property to foreclosure
stlouishousingmarket.com
Michael Allen, a building preservationist who years ago documented McKee's purchases of north St. Louis properties, attended the foreclosure Tuesday. He said afterward he believes Campbell intends to continue nibbling away at NorthSide in an effort to ... [...]
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Lester T. Sanders Joins St. Louis Fed's Real Estate Industry Council
stlouishousingmarket.com
Each council is supported by one of four of the Reserve Bank's offices: St. Louis (real estate), Little Rock (agribusiness), Louisville (health care) and Memphis (transportation). The councils meet twice a year. Contact: Adriene Dempsey mediainquiries ... [...]
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Nixon signs NGA bill allowing tax increment financing
stlouishousingmarket.com
McKee got more than $3.5 million in tax credits through the Distressed Areas Land Assemblage program to acquire 88 north St. Louis properties, according to information provided by the Missouri Department of Economic Development. The city's development ... [...]
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St. Louis Place tower facing foreclosure
stlouishousingmarket.com
(Updated at 4 p.m. Thursday to include comment and clarify lender information.) St. Louis Place, a 20-story office building in downtown St. Louis, is facing foreclosure after its owner apparently was unable to renegotiate its real estate loan. The ... [...]
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MLB scours ballpark area for fake merchandise
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The Cardinals and the Red Sox aren't the only teams in St. Louis for the World Series. Major League Baseball Properties, the league's licensing agent, also has flown in a team from New York to seek out and seize counterfeit T-shirts, ball caps and ... [...]
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St. Louis area's industrial market clearly on the mend
stlouishousingmarket.com
Commercial real estate brokers agree: The St. Louis area's industrial market is in full post-recession rebound mode. Vacancy is down, rents are stable, absorption (brokerspeak for changes in occupancy) is up and, for the first time in years ... [...]
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Duke selling St. Louis office properties
stlouishousingmarket.com
Updated with identity of some properties. Fifteen office buildings in suburban St. Louis are among 62 properties Duke Realty Corp. is selling for $1.1 billion to a group led by Starwood Capital. Duke said it is leaving several of its suburban office ... [...]
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Toby Martin named CEO at NAI DESCO
stlouishousingmarket.com
Toby Martin, a former senior vice president for Duke Realty Corp. in St. Louis, is now the new CEO at NAI DESCO. Martin has more than 25 years experience in the St. Louis real estate industry, working also with Cassidy Turley (now DTZ Cushman) for more ... [...]
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Developers seeking approval of St. Louis area senior living projects
stlouishousingmarket.com
Multiple developers want to build three separate senior communities throughout the St. Louis area that are worth more than $37 million. The developers are seeking state regulatory approval from the Missouri Health Facilities Review Committee to build ... [...]
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Hampden Hall changes hands
stlouishousingmarket.com
An affiliate of Asprient Properties of St. Louis is the new owner of Hampden Hall, a 1920s apartment bulding at 4400 McPherson Avenue in the city's Central West End. The new owner is Everest-4400 McPherson LLC, which bought the building from CEAI ... [...]
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McEagle creditor plans auction of assets
stlouishousingmarket.com
Assets of McEagle Properties, headed by developer Paul McKee, are scheduled to go up for auction next week. Legal notices published Monday said Titan Fish Two LLC, a McEagle creditor, plans to conduct the sale next Monday at the Lewis Rice law firm in ... [...]
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A timeline of Urban Assets events
stlouishousingmarket.com
2008 • Urban Assets starts buying properties in north St. Louis. 2008-2014 • 1,600 code violations filed against properties as they were allowed to deteriorate. August 2013 • Post-Dispatch writes about mystery of who is behind Urban Assets. October 30 ... [...]
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Assets no more: Steve Roberts linked to company that let properties …
stlouishousingmarket.com
ST. LOUIS • In September 2008, a company called Urban Assets began acquiring large numbers of properties in north St. Louis, primarily buying abandoned parcels cheaply at sheriff's tax auctions. Within a year, it had gobbled up nearly 240 properties, a ... [...]
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Streets of St. Charles about to come alive
stlouishousingmarket.com
Aspiring movie makers, chefs, interior designers, photographers, fashion marketers and graphic designers are being sought by one of the first tenants in the Streets of St. Charles. The Art Institute of St. Louis plans to begin classes July 9 in the ... [...]
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Health Care REIT buys HealthLease for $950M
stlouishousingmarket.com
NEW YORK • Health Care REIT said Wednesday it will spend as much as $2.3 billion on a deal that could give it more than 100 additional properties in the U.S. and Canada in the next few years. The company said it will pay about $950 million, or $14.20 ... [...]
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Houston hotel owned by St. Louis' Roberts brothers files for bankruptcy
stlouishousingmarket.com
A Houston Holiday Inn owned by St. Louis developers Michael and Steve Roberts filed for bankruptcy today, representing the latest in a string of legal troubles for the brothers' holdings spread across the country. Michael and Steve Roberts are ... [...]
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Been shopping in Chesterfield? No surprise for the retail hub
stlouishousingmarket.com
CHESTERFIELD • Name a national retailer and it's likely already here, or plans to open a store here soon. H&M opened late last year, construction crews are now erecting walls for a new Burlington store, and Gander Mountain plans to open in Chesterfield ... [...]
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Big bulk purchase of US homes said to include St. Louis properties
stlouishousingmarket.com
Cerberus Capital Management is buying about 4,200 U.S. houses, expanding its foray into home rentals in the industry's largest bulk purchase. The investment firm plans to acquire the properties from BLT Homes, a rental company owned by closely held ... [...]
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New housing contracts on the upswing in St. Louis aea
stlouishousingmarket.com
ST. LOUIS (KTVI) – No doubt many of the new housing contracts are for first-time home buyers, and local realtors are forecasting good things in the next six months. Kelly Hager from the Hager Real Estate Group visits Fox 2 News in the Morning to talk ... [...]
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St. Louis Home Sales On The Rise
stlouishousingmarket.com
ST. LOUIS, MO (KTVI)– Home sales in the St. Louis area are going through the roof giving the economy a much needed boost. We've heard of flash mobs but what about flash sales, when homes are sold after being on the market for only a day. The trend ... [...]
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Gershman Commercial forms new firm
stlouishousingmarket.com
Gershman Commercial Real Estate said Wednesday it has formed Gershman Commercial Equities to acquire and manage investment property. Cofounders are Tom Stern, chairman of Gershman Commercial Real Estate, and Joe McGauley, president of ... [...]
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John Steffen's Pyramid crumbles
stlouishousingmarket.com
... partner, Spinnaker Cos. of Connecticut, has taken over St. Louis Centre; the Dillard's property, renamed The Laurel; and is considering the nearby Mercantile Library building. However, Spinnaker has no plans to proceed with any other St. Louis ... [...]
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From the editor: Raising critical issues on area housing
stlouishousingmarket.com
The St. Louis Post-Dispatch invests great resources to support our original investigative work, which holds up a mirror to our community and those who influence public policy. The main front-page story on Aug. 18 read “North County Suburbia In Crisis ... [...]
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Housing market seen improving this year
stlouishousingmarket.com
A limited supply and rising demand for houses will produce what real estate experts say should be a healthy market this year in the St. Louis area. Dawn Kennedy, chief executive of the St. Louis Association of Realtors, said the median house price on ... [...]
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No longer a buyer's market for homes?
stlouishousingmarket.com
Lynne and Brandon's Scott's house-hunting story sounds like something out of the housing bubble of 2006. They got in a bidding war. “We were surprised. Houses are moving very quickly,” said Lynne Scott. “My husband and I have gone numb with the ... [...]
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RealtyTrac says St. Louis leads in homes that sell for less than market value
stlouishousingmarket.com
A report released Thursday says the city of St. Louis led the nation in the average price, by percentage, of homes that sold in April for less than their estimated market value. The report by RealtyTrac, a real estate data company, said St. Louis homes ... [...]
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St. Louis housing market favors buyers, report says
stlouishousingmarket.com
A report released Thursday says the city of St. Louis led the nation in the average price, by percentage, of homes that sold in April for less than their estimated market value. The report by RealtyTrac, a real estate data company, said St. Louis homes ... [...]
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Index shows house prices stalling in St. Louis
stlouishousingmarket.com
Private-sector reports have been more upbeat about the St. Louis housing market. CoreLogic shows a 4.8 percent price gain between March 2014 and March 2015, and Zillow says prices rose 3.7 percent. The FHFA's broader all-transactions index, which ... [...]
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Sara Investment buys Fenton building
stlouishousingmarket.com
Four months after opening an office in Chesterfield, Sara Investment Real Estate of Madison, Wis., has bought its first property in the St. Louis area. Sara Investment said Tuesday it has completed its purchase of the 49,996-square-foot building at ... [...]
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Luxury home sales picking up in St. Louis
stlouishousingmarket.com
The new boss of Build-A-Bear Workshop Inc. and her family initially targeted Clayton as the preferred location of their new home. But the scarcity of available high-end homes there prompted the family of Sharon Price John, who this month became chief ... [...]
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Vacancies slide as St. Louis apartment market recovers
stlouishousingmarket.com
Rents are up a little. Vacancy rates are down considerably. Landlords are happy, but they are not happy enough to start building lots of new apartments. That's the situation in the St. Louis-area apartment market six years after housing began its big ... [...]
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St. Louis turns to data to guide development
stlouishousingmarket.com
St. Louis officials are trying a new tool in their efforts to boost city neighborhoods: data. And that could mean a big shift in the way they dole out community development money. The city on Tuesday unveiled a new “market value analysis” of city real ... [...]
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Inventory of homes for sale remains low in St. Louis area
stlouishousingmarket.com
Barbara Heise has worked in residential real estate sales for three decades, but she's never seen a market like this one, with so few homes for buyers to choose from. “My listing inventory is the lowest it's ever been, and it's been like this for ... [...]
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Gershman Commercial Announces April Lease & Sales Transactions
stlouishousingmarket.com
Lily Seymour, Stephen G. Symsack and Roger Zigler of Gershman Commercial Real Estate represented Mi Caribe, LLC in the lease of 4,850 SF of office space in The Coronada located at 3701 Lindell Boulevard in St. Louis, MO from St. Louis Properties I, ... [...]
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Luxury home category thrives
stlouishousingmarket.com
Luxury home sales in the St. Louis area largely avoided the deep slump that affected the rest of the housing market during the recession. Sales of homes costing more than $1 million barely skipped a beat and began rebounding in 2009, when the economic ... [...]
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Public housing high-rises to become part of the past in St. Louis
stlouishousingmarket.com
Inside the brown brick high-rise, the notices have been delivered. Soon, the building just north of Grand Center is coming down. Residents such as Davonda McElroy are being relocated to other locations run by the St. Louis Housing Authority. [...]
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Check out the 10 priciest homes in St. Louis
stlouishousingmarket.com
Luxury home sales in the St. Louis area largely avoided the deep slump that affected the rest of the housing market during the recession. Sales of homes costing more than $1 million barely skipped a beat and began rebounding in 2009, when the economic ... [...]
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St. Louis is hot spot for 'underwater' mortgages
stlouishousingmarket.com
Metro St. Louis is a national hot spot for “underwater” mortgages, according to a new study, and the problem is particularly acute in north St. Louis County. Half or more of homeowners with mortgages owe more than their homes are worth in ZIP code ... [...]
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A zombie is revived in Wentzville
stlouishousingmarket.com
WENTZVILLE • A zombie is coming back to life. Payne Family Homes is reviving the partly built Huntleigh Ridge subdivision, where construction halted in 2012. Zombies — the living dead of the home building industry — were common in parts of the South ... [...]
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Media portrayals hinder Ferguson, housing experts say
stlouishousingmarket.com
News media stories that showed the unrest in Ferguson as a result of the Michael Brown shooting hinder the city and surrounding area's housing market, housing experts said Friday. Don Brinker, homeownership manager of the Missouri Housing ... [...]
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Look Back • Housing crunch during Depression and World War II inspires …
stlouishousingmarket.com
ST. LOUIS • On Sunday, Oct. 20, 1929, the Post-Dispatch classified section included five pages of homes for sale. In the Fairlight Downs subdivision in Olivette, new homes with “every improvement completed” were offered for $8,750. New bungalows in the ... [...]
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