After spending years in limbo with title issues (it was a DHP property if that means anything to you), 4101 Magnolia is finally getting another chance to shine. This former 24 apartment complex just off Tower Grove Park will soon be transformed into condos. The project will be marketed as Magnolia Place.At this point, specifics on the project are pretty slim, but their website and signs state that pricing will start in the low $100’s. The exact number of units is also still in question, but I think its a safe bet to say that there will be no more condos than their were apartments in the original 24 unit layout.
This project has been on my radar for a while, but things are just now coming together. The West End Word posted a story late last year mentioning the property being in line for a TIF. Specifically they said the property was the target for “a $570,000 TIF to allow developer Rick Yackey to fix up a “problem property” at Magnolia Place and Thurman Avenue near Tower Grove Park. Yackey intends to sell the 24-apartment building as condominiums.” I assume they got their TIF.
No word yet on when construction will get underway, but I imagine something will get going soon. Things have really been booming on the north and south sides of the park and this project will have a pretty broad impact on the Shaw Neighborhood and the Tower Grove area as a whole. This is one to watch.