I hosted a dinner program last night at a trendy restaurant on Washington Avenue in downtown St. Louis. It was a pretty cool place, with a extensive wine list (What, no Mad Dog?), and a decor full of wood panelling and subdued lighting that made for a very intimate environment.
I parked in a garage a block or so away, and as I walked down the street, what struck me was the sheer number of older buildings that are being converted to lofts. Some of the developments are advertising roof-top pools, private parking, and prices in the multiple hundreds-of-thousands of dollars. All I kept thinking was, "Who lives in all these places and what do they do for a living?"
The other things that nag at me are why people want to live in a part of town with no neighborhood grocery stores, very few family-friendly venues nearby, the threat of urban street crime, and the possibility that your investment may not pay off in the long run. Then again, maybe I've just lived in the suburbs too long.
I don't blame the city, or developers, for promoting a product that brings much needed revenue to St. Louis. I just wonder about the long-term viability of this trend.
About Me
- Merc Man
- Life in North St. Louis County is always interesting. Living near the airport, you get used to jet noise, rattling windows, and the occassional F-18 test flight. Living close to the city makes it an easy commute to ballgames, downtown attractions, and drive-by shootings. There are about 90 municipalities in St. Louis County, so it's possible to cruise through a dozen jurisdictions in an evening's run. What with the red-light cameras, fast-food joints, and past-their-prime neighborhoods elbow-to-elbow with new developments, who could ask for anything more? Just make sure you own a car at least as big as a '88 Lincoln Town Car and a handgun at least 9MM in caliber.
5 comments:
I wonder about the lofts myself, but I also work with several people who live in the lofts on Washington Ave. There are 2 neighborhood grocery stores downtown now. They are more expensive than schnucks, but they are in the neighborhood.
Aparently the lofts are being bought up like crazy. Of the people I know, all three are men, two are young bachlors (in their 20s) and one is in his 30s and divorced (yet living with a girlfriend).
I'm not so sure that the City is picking up much revenue at all. To spur development, they have to be giving out huge incentives to (re)developers and businesses. I don't think they've yet reached a tipping point where they're making up for it in sales tax revenue.
There was a story in today's P-D about how the City was considering leasing a piece of Forest Park to BJC. The area is bounded by Kingshighway, Barnes-Jewish Plaza, Euclid, and Clayton, so most people (myself included) thought it was merely an exercise area for BJC/WUSM doctors and med students. Anyway, if you read the article carefully, the City is hoping to use the funds from the lease to mostly displace funds already going towards Forest Park. Not sure how all this works with the County, since we Countians share the cost of maintaing the park.
This, coupled with the City's unwillingness to consider repealing the 1% Earnings Tax (researchers demonstrated that it restricts the economy in the City and actually costs more than it generates), and it doesn't tell a good story. The City is still hurting for revenue.
Hopefully, someday soon, downtown will be a vibrant and successful part of town. The last two years, we visited Gaslamp Quarter in San Diego. It's a trendy area with many new restaurants and brings a lot of people downtown. Interestingly, like downtown St. Louis, it's anchored by a brand new ballpark (Petco). The architecture of the buildings is similar to those in St. Louis, so it's pretty easy to imagine what a revitalized downtown area would be like here.
But I doubt the weather here will ever be as nice.
In any case, the City still faces huge challenges in other areas. Time will tell if a booming downtown translates into a broader economic and housing revival. As you mentioned, there's quite a bit of roughness right up against the loft district. I personally have recently witnessed several drug deals that took place in a wide-open area. And I do not spend a large amount of time downtown. Obviously the criminal element has no fear of the City's finest. Nor do the omnipresent homeless contribute to an overall feeling of safety. I really believe that overcoming that is going to be the biggest hurdle for getting large numbers to move back.
This is ignoring the fact that many city residents endure severe amounts of crime, having been abandoned since their areas are perceived as having been "bad for a long time." But that's a rant for another day.
What about Ballpark Village? Does that proposed development include housing AND shopping?
Here's the Ballpark Village plans according to the ballclub.
And then there's the Bottle District that they are building north of the dome and west of hwy 70. Basically it will have the highway on 2 sides, the dome on one side and some serious ghetto on the other.
The Bottle District is slated to have an indoor go-kart track, bowling alley, restaurants, shopping, a concert venue, grocery store, 250+ lofts & condos and 150+ hotel rooms.
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