A brand-new townhome across from Tower Grove Park in St. Louis has come on the market for $950,000, and neighbors are talking. First Alert 4 reported the listing on October 15, 2026.
The house sits at Arsenal Street and Morgan Ford Road. It runs to more than 3,300 square feet, with a two-car garage and two primary suites, a layout meant to let relatives share a home and still keep some privacy. Only a couple of years ago the lot held a used-car business.
Listing agent Jenifer Garcia says nothing else in Tower Grove South looks like it. “It’s a unicorn,” she said. She credited the modern finishes and custom build for the asking price, and added that building is costly across the board right now, whether you are remodeling or starting from scratch.
Residents were less taken with the number. “950,000 dollars is a lot of money,” one said. Another wondered, “Who in the world is going to live there?”
Owner and developer Nick Baldwin did not argue. The price reflects higher labor and material costs, he said, along with unexpected foundation work. “It is a shock to me as well as them,” Baldwin said. He knows some people suspect developer greed, and he allowed that greedy developers exist, but said many work to a set margin and their prices have risen with their costs.
Buyers face a tougher borrowing climate too. The national average long-term mortgage rate stood at 7.4 percent, the highest in three years.
Garcia does not expect the listing to move prices for cheaper homes nearby. Neighbors say they will wait and see whether the townhome stays an outlier.
