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Tower Grove East condos

This project has been under development for a while now, but it’s good to see that the condos on the southeast corner of Sidney & Nebraska are coming along. Located in a former Phillips 66 auto repair shop at 2600 Nebraska in the Tower Grove East neighborhood of South St. Louis, these condos will be a welcome addition to the landscape. I don’t know much about the project at this point other than that the condos are said to be “loft” style.

The tuck pointing has long been done, the windows are in, the interior appears to be quite far along and new sidewalks and parking are being poured as I write this. Hopefully they should be available before summer hits. I’m curious to she what the finished product looks like. I’ll share pics when they come available.

Its really great to see a project like this going on in Tower Grove East. The western half of the neighborhood near Grand Avenue has seen a lot of rehabs and development, but the eastern half has been lacking in that department. This is one of those neighborhoods that has really felt the impact of the downturn in the market. If things would have continued to chug along at the same pace for another year or so, the neighborhood would have been much further along than it is. Projects like this are a sign that things are quite as stagnant as they sometimes appear. Hopefully other developers follow suit in the future.

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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