Housing Market

The nonprofit was created in response to the Ferguson Commission Report. It revitalizes vacant and dilapidated properties in underserved St. Louis neighborhoods like Dutchtown and Baden, renovating them before selling to first-time homebuyers.

Nearly 60 new three- and four-bedroom homes will be built over the next few years as the base looks to update its housing stock that includes many homes from the 1960s.

The recommendation from the commission now goes to the city council, which makes the final decision.

The bill makes it easier to construct carriage houses in St. Louis neighborhoods as part of a push to ease housing restrictions in the city.

Group behind the Foundry in Midtown says its $195 million redevelopment in downtown St. Louis will be completed in 2027.

The legislation reduces the lot sizes required to build single-family and some two-family buildings and eases occupancy limits to make intergenerational living easier.

St. Louis ranked in the top 15 U.S. metros with the highest increase in home prices from December 2023 to 2024, according to Redfin.

Following a slow year in the housing market, experts expect first-time Missouri homebuyers to have better prospects in 2025.

Since April 2023, the project concentrated along the 3600 and 3700 blocks of Hebert Street has rehabilitated 10 homes and newly constructed eight.

With $1 million in funding from the federal government, R3 Development leaders hope they can be operational with their expansion in about 18 months.