St. Louis Rental Market Steady in 2015: Check Out Last Year’s Largest Developments
Developers have delivered a nice and colorful palette of new apartments in St. Louis in 2015. These include conversion projects as well as brand new homes in every category from affordable options—such as artists’ housing—through student- and senior communities, all the way to luxury high-rises. We set out to find these projects and used the Yardi Matrix database coupled with additional online research to pinpoint and rank all rental developments of 50 or more units completed last year.
Our research shows that Missouri’s largest metro added 9 such properties with a total of 1,532 apartment units in 2015 — this falls only slightly short of the 2014 performance, when 1,551 new homes hit the market in 11 properties.
Arcade Apartments came out as the largest project completed last year with 282 rental units. The imposing downtown property is part of the century-old Gothic Revival skyscraper at 800 Olive Street, which has been converted into a mixed-use space for university classes and apartments. It was followed by the 206-unit West Pine Lofts in St. Louis and the 168-unit Celtic Crossing in the St. Peters suburb, which appeals for those who seek a more laid-back suburban lifestyle. Speaking of suburbia—the Jennings and St. Charles neighborhoods have also gained one property each, leaving only six new developments inside the city borders.
Check out our breakdown below to see what other projects have made it to 2015’s largest rental developments in St. Louis:
#9. Jennings Place: 54 rental units
Address: 2360 Middle River Road, Jennings, MO 63136
Rental types: 12 one-bedroom apartments, 42 two-bedroom apartments
Property size: 51,804 sq.ft., 3 one- and three-story buildings
Short description: Fully affordable. Age restricted – catering to individuals 62 years of age, or older. 81 parking spaces. Fully furnished kitchens. Washers and dryers. Ceiling fans. Window coverings. Spacious community room. Business center. Fitness facilities. Plank flooring with carpeted bedrooms. Walking trails. Planned activities. Controlled access.
Photo credits: Fairway Management – Jennings Place Website
#8. Station Plaza Lofts: 87 rental units
Address: 1910 Pine Street, St. Louis, MO 63103
Property size: 6-story building
Short description: Fully affordable. Historic Liggett & Myers Tobacco Company building built 1884. 107 parking spaces. Exposed wood post and beam construction. Oversized windows. High ceilings. Open floor plans. European styled kitchen cabinetry. Controlled access entry. Common area laundry. Fitness center. Community room. Pet-friendly.
Photo credits: Station Plaza Lofts Website
#7. Suburban Heights: 104 rental units
Address: 5500 Mable Avenue, St. Louis, MO 63140
Rental types: 8 one-bed apartments, 48 two-bed apartments, 48 three-bed apartments
Property size: 80,600 sq.ft., 6 two-story buildings
Short description: 160 parking spaces. Fully renovated, gated student housing community. 160 parking spaces. Two-in-one washers and dryers plus microwave ovens in each unit. Gated community. Cable ready. Free Wi-Fi.
Photo credits: Suburban Heights Facebook Page and Website
#6. Gallery 720 at the Laclede Tower: 111 rental units
Address: 720 Olive Street, St. Louis, MO 63101
Property size: 31-story building
Short description: 333 parking spaces. Office building built in 1969, converted into apartments. Fitness center with fully equipped locker rooms. Executive conference rooms. Meeting/seminar space, as well as private event space with fully equipped kitchen. Assigned/covered parking. 24-hour security on-site.
Photo credits: Gallery 720 Facebook Page
#5. The Reserve at Fountainview: 144 rental units
Address: 1000 Fountainview Circle, St. Charles, MO 63303
Rental types: 114 one-bed apartments, 28 two-bedroom apartments, 4 three-bed apartments
Property size: 128,708 sq.ft., 9 two-story buildings
Short description: 288 parking spaces. Premium plank flooring. Custom routed wood cabinetry. Private patios or balconies. Two tone paint. Gourmet kitchens. Pool with Wi-Fi sundeck. Smoke-free community. 24-hour fitness center. Pet-friendly. Full size washer/dryer in all units.
Photo credits: The Reserve at Fountainview Website and Facebook Page
#4. The Standard at St. Louis: 164 rental units
Address: 3853 Forest Park Avenue, St. Louis, MO 63108
Rental types: 18 one-bed apartments, 33 two-bed apartments, 28 three-bed apartments, 37 four-bed apartments, 12 four-bed townhouses, 16 five-bed apartments, 20 five-bed townhouses
Property size: 199,023 sq.ft., two 5-story buildings
Short description: Student housing. Luxury off-campus apartments, within walking distance to SLU. 390 parking spaces. 42-inch flatscreen TV in all apartments. Resort-style pool. Gaming room. Fitness facilities. Granite countertops. Washer/dryer. Courtyard with fire pit. Fully furnished apartments. Free tanning. Media room. Group study room.
Photo credits: The Standard at St. Louis Facebook Page
#3. Celtic Crossing: 168 rental units – Check availability
Address: 1200 Belfast Drive, St. Peters, MO 63376
Rental types: 48 one-bed apartments, 90 two-bed apartments, 30 three-bed apartments
Property size: 176,286 sq.ft., 14 three-story buildings
Short description: 175 parking spaces. Walk-in closets. Built-in pantry. Kitchen island. Built-in microwave. Covered balcony or patio. Dog park. Pool. Outdoor lounge and fire pit. Clubhouse with coffee bar. Fitness center. Business center.
Photo credits: RENTCafé
#2. West Pine Lofts: 206 rental units
Address: 4050 West Pine Blvd, St. Louis, MO 63108
Rental types: 84 one-bed apartments, 143 two-bedroom apartment
Property size: 174,129 sq.ft., 4-story building
Short description: 250 parking spaces. All units are furnished. Fitness center with free weights. Resort-style pool. 2 tanning beds. Game room and pool table. Free parking. Gated community. Washer/dryer in every unit. Grilling area. Fire pit. Business center.
Photo credits: West Pine Lofts Facebook Page
#1. Arcade Apartments: 282 rental units
Address: 800 Olive Street, St. Louis, MO 63101
Rental types: 179 one-bedroom apartments, 95 two-bedroom apartments, 8 three-bed apartments
Property size: 269,073 sq.ft., 13 and 15 story building (over three floors – 61,000 sq.ft. – of retail)
Short description: Partially affordable – 202 units are affordable. Historic Arcade Building built 1906 and 1919. 19th floor rooftop terrace with panoramic city views. Fitness center with steam room. Theater and clubroom with kitchen. Yoga studio. Pet-friendly community. Spacious and open living areas. Polished concrete flooring and carpeted bedrooms. Rent is utility inclusive (gas, water, sewer, and trash). Electric charging stations.
Photo credits: Arcade Apartments Website
Balazs is a qualified journalist with a thing for real estate. This obsession comes in handy in his work as an online content developer and creative writer for RENTCafé. When he’s not thrashing his keyboard, he takes pleasure in photography, aquascaping and all kinds of DIY projects. Feel free to get in touch with Balazs via email or Twitter.
Changes are coming to Drexel and University City. American Campus Communities will transform Chestnut Street between 32nd and 33rd Streets
While Atlanta proper is still the place to be, the suburbs have their own way of drawing in new crowds.
Phoenix is one of the hottest rental markets in the country right now, and that’s not just because of the