"Downtown St. Louis: A Real Estate Doom Loop"
TL;DR Summary
The sale of a 44-story office building in downtown St. Louis for a 98% discount from its 2006 price highlights the struggles facing the city's central business district, with a record-high office vacancy rate of 22.3%. The abandonment of iconic buildings and closure of local businesses due to remote work has created a vicious cycle, known as the "urban doom loop," leading to a decline in downtown foot traffic. Midwestern cities like St. Louis are facing challenges in attracting people to their downtown areas, and experts suggest prioritizing the addition of amenities to revitalize these urban spaces.
Topics:business#downtown-revitalization#midwestern-cities#office-vacancies#real-estate-and-urban-development#st-louis#urban-doom-loop
- The city whose downtown 'doom loop' might be worse than San Francisco's Business Insider
- St. Louis downtown trapped in 'doom loop,' marred by empty offices, break-ins and store closings: Report Fox Business
- The Real Estate Nightmare Unfolding in Downtown St. Louis The Wall Street Journal
- One of St. Louis' Tallest Office Towers, Empty for Years, Sells for Less Than 2% of Its Peak Price CoStar Group
- Editorial: Blistering WSJ piece on St. Louis should be a wake-up call for area leaders St. Louis Post-Dispatch
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