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Old 01-22-2014, 10:19 AM
 
Location: Saint Louis, MO
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Reputation: 910

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About 1/4 of the Grove seems very stable to me, with another 1/4 being "okay" and the other half being unacceptable IMO. The fact that brand new apartments, as ugly as they are, are renting for $1,000-$1,600 in the Grove says something. Urban Chestnut is opening on Manchester. A Hilton property is in the works. A new music venue is going in on Manchester, too. Less established than Shaw, I'd say, but trending in the upward direction. The fact that the good part is a bit of an "island" is my main concern. Separated from CWE by the highway, and south of Manchester is still full of abandoned properties.

Shaw seems less risky to me for sure--we just have to find a property we love. We looked at everything we could in Shaw a few weeks ago during the snow disaster that was the first week of January, and didn't find anything that we loved. Trying to find a house from afar in a very busy time of year from a work perspective is hard work!

I appreciate your feedback.
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Old 01-22-2014, 10:33 AM
 
Location: St. Louis
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I guess Shaw would be less risky, but the Grove is on fire right now and within the next decade I can see it approaching CWE levels of desirability. The area is a gold mine for real estate speculators (Wash U especially) and is seeing a rapid influx of young professionals migrating south from the CWE. If I had the money I would buy property there now before it becomes cost prohibitive. So, what I'm saying is, buy in the Grove.
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Old 01-22-2014, 12:13 PM
 
Location: Saint Louis, MO
1,908 posts, read 4,141,907 times
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WashU has some serious homebuying incentives in that area. When we looked at a house there, there was a flyer inside about the help they'll provide if you work there.

Talked to a co-worker who told us "If you told me a few years ago you were looking in the Grove, I would've thought you were crazy, but things have changed significantly in the last year or so." There's definitely a risk/reward opportunity in the area. More risk = more opportunity for increased returns...but it could also fall apart more easily since it's still very much on the up and up. In the end, I see it more as a place to live and less as an investment. Stable property values are fine with me.

It's not that we're avoiding it so much as we'd weigh "the same" house in Shaw more favorably (I'm not the biggest risk taker in the world, my husband would tell you).
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