Historical May 1991 article. Dates, prices, services and contacts describe the source period; current availability has not been established.
Westminster Development Company is down to just four inventory units in the first phase of DeBaliviere Place West, its development of comprehensively renovated condominiums on Nina Place in the Skinker-DeBaliviere neighborhood. “The end of an era is near,” said Rich Emerson. sales manager. “When we began the first phase here two years ago, the homes were priced from $73,500. Now, with more than 40 units occupied, the least expensive home in our second phase starts at $82,000.” “Since the remaining units in Phase I are priced from $78,600 they present a great opportunity to get in on the ground floor of a community that continues to pace St. Louis City in sales,” he added.
An additional motivation for buyers of Phase I homes is the availability of up to $7,500 in cash from St. Louis City’s ForSale Incentive Program (FSIP) to buy down interest rates and pay points and closing costs. “The maximum FSIP allowance for Phase II is $5,000,”” Emerson noted, “so a Phase 1 home has a built-in advantage of $2,500.” Phase 1 homes are two-bedroom, twobath plans with roughly 1,100 square feet of living area. One is a former display model.
All are available for immediate occupancy.
The combination of FSIP funding and the availability of 95 percent 30-year fixed-rate FHA loans makes ownership at DeBaliviere Place a truly viable alternative to renting. “With a $2,000 down payment, principal and interest payments work out to less than $600 per month,” said Emerson. “When you consider that it can cost more than that to rent an apartment in this area—and that mortgage interest is tax deductible—we feel we offer a tremendous value.” The interiors of development’s turn-ofthe-century structures are completely gutted and equipped with new mechanical systems and interior finishes. Exteriors have been meticulously restored. with such gracious appointments as art glass sidelights and front doors at building entries.
All remaining homes have open living/ dining areas, enclosed sunrooms, laundry areas with washer/dryer hook-ups and large wood decks.
A private storage area is provided in the basement, while buildings and individual units have electronically monitored alarm systems. Secured off-street parking is also provided.
To see DeBaliviere Place West, go to the display at 5877 Nina Place, a building located at the end of the cul-de-sac street.
The office is open daily from noon to 6 p.m.
Original photograph caption
DeBaliviere Place West.Photographer not credited.
Originally published in The Times of Skinker-DeBaliviere, May 1991.
Read this article in the original newspaper issue.
Original source: SD_Times1991_05.pdf, printed page(s) 6; PDF page(s) 6.
