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LUXURY
LOFTS GO WEST
By Laurie Burstein
Soft lofts are coming to suburbia. As the first developer of new-loft
construction, Conrad Properties has made the bold move to build
loft-style homes outside of downtown St. Louis. Conrad principals
believe St. Louis is ready for the architecture and lifestyle that
loft-homes provide and has developed The Summit Lofts in Creve Coeur
and Hi-Pointe Lofts in Richmond Heights.
Conrad founder and CEO Bob Saur says soft lofts are newly constructed
loft-style units in suburban areas that mix traditional housing
with the elements of a loft typically found in an urban area. Both
Summit Lofts and Hi-Pointe Lofts feature 11-foot-high ceilings,
exposed beams and ductwork, open floor plans, hardwood floors, large
windows and glass block walls. These are many of the same elements
seen in downtown lofts, however, suburban lofts are newly constructed
while downtown lofts are rehabbed older buildings.
Conrad Properties’ Summit Condominiums, Creve Coeur,
Mo. A contemporary display model. |
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“Loft living fits into a contemporary lifestyle,” Saur says. “This
is truly a valid niche, and we are seeing a demand for it.” He explains
that as demographic changes take place in the population, there
are empty nesters moving out of their larger homes in West County
and some are opting for loft-style living. Forty-nine of the 56
loft units are sold at Hi-Pointe and 25 percent of the first building
is sold at Summit Lofts, which just opened this summer.
Balke Brown Associates agrees that the market is ready for the loft
concept and is bringing loft style apartments outside of downtown
to the Central West End area. The company breaks ground this month
on the $34 million Lofts at The Highlands between Kingshighway Boulevard
and Hampton Avenue near the former Arena site.
The Lofts at The Highlands offers loft-style apartments for lease.
One- and two-bedroom units will range in size from 825 square feet
to 1,530 square feet and will lease for between $1,254 and $2,326
per month. The project includes 200 apartments in two six-story
buildings overlooking a central plaza and is scheduled to open in
October 2003.
“The rebirth of the loft district in downtown on and around Washington
Avenue is probably the biggest reason that we felt St. Louis was
ready for loft-style living outside the area,” says James P. Tainter,
senior vice president of Asset Management at Balke Brown.
The Lofts at The Highlands will cater to a young population that
wants to be in the center of everything including close proximity
to major universities and hospitals, as well as Forest Park, with
easy access to downtown and Clayton. The lofts will be part of an
$84 million mixed-use project and is the largest development project
to happen in the City in several decades, say Balke Brown officials.
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traditional display model, Summit Condominiums.
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And what do lofts offer that is better than a traditional apartment?
“Our research shows there is more ‘cache’ to the feel of loft-style
living. The sense of space in a loft apartment generates a feeling
that you are getting more than you are paying for,” Tainter adds.
Wendy Timm, chief financial officer at Conrad Properties, says that
lofts let owners express their individuality and lend themselves
to an eclectic mix of design elements and furniture. At the Summit
Lofts located off Olive Boulevard and I-270, consumers can choose
from one of seven floor plans. All the new lofts have a more open
floor plan and generally do away with formal living and dining room
areas. But for those owners who are more conservative, they can
choose a coffered ceiling if they aren’t comfortable with the exposed
beams and ductwork. Prices at The Summit Lofts start at $290,000
and go up to $540,000 with up to three bedrooms and 2,428 square
feet available.
At both Balke Brown and Conrad Properties loft developments; residents
get the benefits of amenities found in a more traditional apartment
or condominium complex, like on-site management, secure parking
and fitness centers.
Conrad Properties is confident that the loft lifestyle will take
off and is investing in more new loft developments in Clayton and
the West End. “The trend is really there for loft-style living.
Within six months of opening models at Hi-Pointe Lofts in Richmond
Heights, we sold out our first building with 28 lofts. We are gratified
that so many St. Louisians from many walks of life have responded
so enthusiastically to the loft concept.”
Laurie Burstein is a St. Louis-based free-lance writer.
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