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Historic Preservation Hyde Park North St. Louis

DHP Got Bargain Price for the Turnverein

by Michael R. Allen

Most sources have reported the December 2003 sale price of the Nord St. Louis Turnverein to troubled DHP Investments at $100,000. Before yesterday, I had not learned the real sale price: $44,000.

Of course, the Turnverein likely needs $3-5 million in work to complete a full renovation — so even the lowest price is a hard bargain. But still, if the previous owners were willing to sell for such a low price, any developer had a chance at the building. I suppose in 2003 DHP Investments seemed like a good developer for the property, although I know almost no one involved in historic renovation work that ever had any contact with the company. I know of no projects that DHP completed.

The good news is that the Turnverein now can be had for at least as low as $44,000, if not much lower.

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