Photography by Kevin A. Roberts
How quickly things can change.
For years, the national storyline about real estate had remained the same: Homeowners were languishing, realtors were reeling, and contractors were shuttering.
Then, last year, the market began to come back to life.
“After so many years of struggling, it’s so encouraging to see it coming back—2013 was really a turnaround year for us,” says Ken Hill, president of the board of the St. Charles County Association of Realtors.
Today, many St. Louis realtors are reporting enormous demand and “a severe shortage of well-priced homes for sale.” (See this month’s real-estate feature for specifics.) It’s still a buyer’s market, some insist—but that could quickly change as interest rates rise and buyers fight over a limited supply of houses.
Some areas, like Wentzville and Edwardsville, Ill., continue to rapidly expand. Others are showing different signs of change. In North County, the high rate of foreclosures has finally begun to slow. Homeowners in Kirkwood and Ladue are razing older houses to bring in modern replacements. And St. Louis is seeing a resurging interest in condos, opulent apartments, and pedestrian-friendly neighborhoods, with an IKEA slated to open in 2015.
At the same time, downtown is preparing for some important milestones, right on the heels of the stunning restorations of Peabody Opera House and Central Library. After years of delays, the first phase of Ballpark Village is scheduled to open this month, just in time for the Cardinals’ home opener. The Gateway Arch grounds, Union Station, and the highways near the riverfront are also undergoing massive changes. Yet plenty of work remains, with the fate of the Edward Jones Dome still hanging in the balance.
“What we don’t have is the stretch between Left Bank Books and Ballpark Village to walk through,” observes the bookstore’s co-owner, Kris Kleindienst, in a candid discussion about downtown. “It’s like thumbtacks on a map—you need the yarn stretched between them as well.”
Here’s hoping that, too, will soon change.
