St. Louis Condo Conversions Stalled
The developer of the 10th Street Lofts and Louderman Lofts in St. Louis took some time to be interviewed by the St. Louis Post-Dispatch. Here’s the interview. In it, he notes the difficult time financing condo conversions currently and that a lot of St. Louis condo projects are stalled. Banks just don’t want to risk it in the current credit crisis and declining real estate market.
But at the same time, he notes the strong fundamentals of the downtown area and that as more people move downtown, more retail will follow the people into St. Louis.