Clayton, Missouri Plans Major Condo Projects
Clayton, Missouri, which is part of the greater St. Louis metropolitan area is becoming a boom town for condo projects. Two of the top projects include The Crescent and Trianon. Trianon is a $150 million mixed-use project that will include a 26-story tower and two midrise residential buildings. The development will also be home to retail and office space. The condos in the Trianon will range in size from 900 square feet to 2,200 square feet cost from $350,000 to $1 million.The Crescent is a $73 million nine-story development located across from the Ritz-Carlton Hotel. It will include 72 condos and 26,000 square feet of retail space and the remaining residential units are priced between $900,000 and $2 million. Restaurants and retail are moving in and the first residential units are set to be ready later this year. The developer behind the project is also creating Carondelet Village which will be home to 100,000 square feet of retail space, 100,000 square feet of office space and a a 125-room boutique hotel. Carondelet Village is planning a 2010 opening.
It's an ambitious plan. As Spectacular Bid mentioned when we discussed an estate of the day in St. Louis, the area has struggled in regards to real estate prices. In most markets, condos are priced lower than single family homes but the high-end condos in Clayton are positioned fairly close to the top of the overall housing market.
