The site of what was to have been the Skyhouse condo tower in downtown St. Louis changed hands today at a foreclosure sale.

A firm called Star Park LLC placed the winning--and only--bid of $550,000 for the property at 14th Street and Washington Avenue. Star Park is a new venture of Larry Waldrop--an investor, property owner and father of Brad Waldrop, who was among the developers behind the failed Skyhouse project.

Skyhouse was to have been a 22-story condo tower. It was proposed in early 2007, just before the for-sale housing market began to teeter and collapse. The Skyhouse partners said they had presold about 30 of 166 planned condos. But by the summer of 2007, the number of deposits dropped from several a month to zero, one of the deveopers, Ben Riley, said in 2010.

The Skyhouse site is now patchy grass and a small parking lot. That likely won't change for awhile. Larry Waldrop's lawyer, Roger Herman, said Star Park will seek partners to develop the site but that at least a year will pass before a new development plan emerges.