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Sitelines building in FPSE

I’ve been tracking the progress of the green rehab at 4512 Manchester in the Forest Park Southeast neighborhood for some time now, and I am happy to say it looks like it is nearly complete. The storefronts look to be finished, the parking lot is in place, and it appears that most of the construciton equiptment is gone.

Being developed by Sitelines LLC, the building will house their offices among other businesses. While the eastern section of Manchester has seena  lot of development, this project is the first major change to occur along the western section of the street in the neighborhood.

As you can see in the pictures, the neighboring building to the west is now under construction as well. The tax records indicate that it is owned by someone else, but it is great to see some spillover. Although the residential sections of the Grove area still have a ways to go, the commercial strip on Manchester is really coming along. To think that just a few years ago there were hardly anyrehabbed buildings and active businesses along the strip. When the economy starts to really turn around, and with upcoming streetscape improvements coming to the area in 2010, things are just going to continue to get better.

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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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