December 12, 2003
Lofts Attract A New Kind Of Benton Park Resident
Two Projects Will Create 25 Owner-Occupied Units Among The Neighborhood's Private Homes.
By Charlene Prost
Of The Post-Dispatch
Two groups, each working with unusually challenging buildings, are bringing
something new to the Benton Park neighborhood: loft condos.
And it hasn't been easy. At a former moving-company headquarters built in 1890
at 1831 Sidney Street, developer Patrick Stanley had to cut through thick brick
walls to make the place livable. Except for some on the front of the first level,
he said: "There were no windows. It was just one huge big shell."
At the former Saint Agnes School, built in 1905 at 2216 Sidney Street, construction
workers are putting back an ornate front entrance hidden for more than fifty
years behind a plain brick addition. "The addition ruined the facade, and
a lot of the detail work was just gone, so we're recreating it," developer
Neal Josehart said.
Together, the projects represent an investment of more than $5.5 million for
a total of 25 loft condos.
Many of the units are sold at Stanley's five-story building, which is nearly
finished. They're attracting a new kind of resident to a historic neighborhood
composed mostly of privately owned homes. And that's welcome news for neighborhood
leaders.
"These are owner-occupied units, and we've been trying to make this a neighborhood
where people live and take care of their properties," said Mark Silver,
president of the Benton Park Community Housing Corp. "They also have high
sale prices, and that's good for the neighborhood."
Stanley, owner of Chastan Properties LLC, bought his building more than two
years ago, shortly after leaving a career in sales to take on renovation projects.
With financing from Allegiant Bank and state tax credits, he's building thirteen
condos, all with twelve-and-a-half-foot ceilings, hardwood floors, modern murals
and tile work done by artists in the lobbies. He set aside space on the first
level for a coffee shop and wine bar and built a sun deck on the roof. Also,
he restored original street lights out front as part of the $3.5 million Sidney
Street Lofts project.
With prices ranging from $139,000 for 990 square feet to $339,000 for 2,220
square feet, all but three condos are spoken for.
"People just started coming around while we were working on the building,"
Stanley said. "They either just stumbled on it or heard about it from a
friend. ... There's definitely a market for this."
Josehart, owner of Beachfront Properties, founded two years ago, and Paul Fendler,
owner of Fendler + Associates, Inc. Architects, teamed up to buy and renovate
the school. Built in 1905 by a Roman Catholic parish, it closed as a school
in 1972 and later was used mostly by neighborhood organizations. The building
has been all but empty since the 1980s.
Using photos of the original structure, Josehart and Fendler have been matching
brick as well as restoring and recreating ornamentation damaged or lost by the
addition in 1952.
By spring, they plan to begin selling twelve condos inside their Saint Agnes
Lofts. All have different floor plans on one or two levels, and all have plenty
of natural light.
"Windows in the building are eight- to nine-feet tall, and there are a
tremendous amount of them," Josehart said.
Prices will range from $150,000 for 900 square feet to $280,000 for 2,000 square
feet. Allegiant Bank and the state's historic tax credit program are financing
the $2 million-plus redevelopment.
"The project will provide modern living space within a historical landmark,"
Josehart said. "There are a lot of loft condos in downtown. But what we
have to offer is that style of living, with off-street parking and in an established
neighborhood."
Josehart and Stanley said their projects will work together. "What (Stanley)
did kind of paved the way for us," Josehart said.