Key Points from the Panel
- Investors are looking to tertiary markets that are less volatile than the coasts and St. Louis is one of those markets. They’re especially drawn to core real estate in first rate locations that they can easily understand. We’re seeing investors come from all over. Our equity partner on both of our apartment projects is AIG Global Real Estate out of New York. We’re working with them on several projects across our platform.
- We’re not concerned at all about an apartment oversupply at this time. There’s still room for more projects, but I anticipate we’ll see a bit of a slowdown in new construction starts after next year.
- The biggest opportunity and areas to keep an eye on in St. Louis are areas outside of the urban core that still offer the walkability and the live, work, play lifestyle that our renters desire like Webster Groves and Kirkwood.
- We try to be very technology driven and forward thinking with amenities and features in our spaces. It’s what residents have come to expect. I think we’ll start to see more and more of the smart home concept coming to apartments which is mutually beneficial because it helps keep our operating costs downs as the owner and the Tenant has control of their entire apartment at their fingertips.