9 Years After Initial Construction, St. Louis Homebuilder Plans to Finish Cottleville Condos

By on February 8, 2019

From St. Louis Business Journal:  Nine years after completing the first portion of its Bordeaux Condominiums development, Payne Family Homes has plans to finish out the Cottleville project.

Ken Kruse, president of Payne Family Homes

Construction is expected to begin this month on the four remaining buildings of the Bordeaux Condominiums, located near St. Charles Community College. Payne Family Homes completed Bordeaux’s first three buildings in 2010, but then took a hiatus from the project during the economic and real estate downturn, according to Vice President of Sales and Marketing Cyndie Roche.

“Now that the market has picked back up, there is a real thirst for affordable first-time housing and an equally strong demand for down-sizer housing,” said Roche. “It’s the perfect time to now complete this development.”

Development of the remaining four buildings is estimated to cost about $6 million, according to Payne Family Homes. Each of the new buildings will have 12 units, for a total of 48 new condos. The two-bedroom, two-bathroom, garden-style condos will be priced starting at $149,900, and range from 1,078 to 1,270 square feet in size.

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