$20m development in Dogtown

[Kyle Eckert]

$20m development article

I both live and have invested in this neighborhood.  Thoughts on the ramifications of this development, both on a investment and a neighborhood standpoint?

For reference, 1BR apartments goes for 600-1000 currently, depending on amenities and specific location in the neighborhood.

[Max Householder]

Dogtown is a great area that's walkable to Forest Park with easy access to both 64/40 and I44 so I would think this development would do well, even with rents in the $1200-1900 range. If you already own in Dogtown this is probably great for future rent growth and appreciation. I think the Field Foods aspect is a big plus as currently residents would have to drive to Richmond Heights, Maplewood, or Southwest Garden to get to a Schnucks or Shop'n Save. Fields is a little higher end, but I would think it would do well there. IMO the grocery-retail-apartments all in one footprint is a nice model for redevelopment in urban areas where currently it's difficult to locate a big box style store plus parking lot, etc..

I know a lot of people gripe about gentrification, but it's great for the long term viability of a neighborhood. I'm sure the owners of Seamus, Felix's, Heavy Riff, and the like won't be complaining about 100 upper-middle class customers plopping down across the street.