We’re a week late in marking the occasion, but December 21 was a banner day for Old North St. Louis. In yet another indication of the transformation in progress throughout ONSL, the neighborhood welcomed new owners for three properties last Friday, each with plans to bring something good to long-neglected buildings. After a long odyssey toward getting purchase/rehab financing, Shaun & Lyndsey Fosdick (see below) closed on their acquisition of 1506 Hebert from ONSLRG and are already in the midst of rehabbing their new home across the street from the Hebert Community Garden. ONSLRG was able to keep the house from falling into the hands of speculators by purchasing it last year with funds from a grant from Fannie Mae. Now, instead of becoming another absentee-owned vacant and deteriorating building, 1506 Hebert is getting rehabbed by a young couple who are contributing to the life and vitality of the community.
In the article, Graham describes how he and his wife decided to move to ONSL: “Thanks to a local blog we could tell there was a concerted effort from the whole neighborhood toward redevelopment.” The Lanes are another example of the growing creative community taking root in ONSL.
After a full year of activity that included the launching of the $35 million redevelopment of the former 14th Street Mall and progress toward the stabilization of the Mullanphy Emigrant Home building, the real estate activity on Friday the 21st represents a fitting end to 2007 - and a sign of what we can expect in 2008!