News

June 2, 2006
St. Louis Business Journal by Lisa R. Brown

Home builders not worried about waning construction
Bruno Homes has plans for an $11 million condo development in Chesterfield Village, its second development in the community this year.

The Clayton-based home builder purchased 2.26 acres from Sachs Properties May 23 for $1.6 million to build 16 townhouse lofts and 16 garden-style homes. The project, Justus Pointe, will be located at Justus Post Road and Milbridge Drive off Chesterfield Parkway. LaSalle Bank is financing the project.

The two- and three-bedroom condos will have between 1,300 and 2,000 square feet of living area and will be priced from $249,000 to $373,000. Construction will begin this year with display homes open in the fall.

Chesterfield Village is a 1,500-acre master-planned community with 2,300 residential units, including apartments, condos and single-family homes. Justus Pointe is the 14th residential neighborhood at Chesterfield Village.

For the past decade, the 25-year-old Bruno Homes, led by President S. Richards Bruno, has targeted the Clayton market. "In our view, Chesterfield Village is on its way to becoming the new Clayton," Bruno said. "While not complete, a good deal of the physical and societal infrastructure that makes a place a community are in place.

"We think that we are bringing Justus Pointe in at a sweet spot in the market. A starting price in the $250,000s puts it within reach of a broad demographic spectrum."

Justus Pointe will be Bruno Homes' second development in Chesterfield. Partnering with McKelvey Homes, Bruno Homes is building The Villas at Westmeade, a $20 million new-home development with 36 villa homes on 12 acres on Baxter Road between Clarkson and Wild Horse Creek roads.