My Way is No Highway!

Real estate price statistics before and after the construction of the Maryland Heights Expressway indicate that home prices fell substantially nearest to the constructed highway, even as far out as a full mile. Houses in that radius are currently priced at the absolute bottom of homes in the region. The same can be expected of homes near the Highway 141 project.

If the numbers are similar, every homeowner on the east side of 141 between Olive and Ladue can expect to see their home values drop by 30-40% in addition to whatever damage has already been done to their equity by the housing economy. Those in $200,000 homes can expect to see $66,000 or more disappear with the highway; those in $400,000 homes can expect to see $130,000 vanish. Even the unscrupulous spending of $170 million is not as awful in terms of impact; at least with the spending, the money remains in the economy. A drop in home values means that the value is gone for good, as if it never even existed.

If you live in the area and your home is one of those that will be affected by this construction project, please make the effort to be at the public information meeting, Thursday May 14, any time from 4 to 9 PM, at Parkway Central High School.