Investment Committee Approves Investment in 3 Developments
The St. Louis Equity Fund Investment Committee recently approved investments in three developments – Southside Station FM Lutz Apartments, The Salvation Army 3010 Apartments, and the Catholic Refugee and Immigration Center.
The Southside Station FM Lutz Apartments will consist of the rehabilitation of 39 units, utilizing Low-Income Housing Tax Credtis, located in two historic buildings at the intersection of Grand Boulevard and Gravois Avenue in St. Louis City. This will be the second phase of a redevelopment plan led by the Lawerence Group, which serves as the Developer and General Partner.
The Salvation Army 3010 Apartments is the second phase of The Salvation Army’s Midtown Development Campus. It will redevelop the Harbor Light facility located at 3010 Washington Avenue into 58 LIHTC-financed one-bedroom apartments, all of which will serve adults emerging from homelessness in St. Louis, with a special preference for veterans.
The Catholic Refugee and Immigration Center is being developed by Catholic Charities and will consist of the renovation of the former St. Pius V Grade School located at 3530 Utah Avenue in the Tower Grove Heights Historic District. The building will be renovated to provide over 24,000 square feet of space for affiliates of Catholic Charities that offer services to immigrants and others in the Tower Grove Heights neighborhood.
We anticipate all three developments to close by the end of 2013 and look forward to the construction and operational phases of these projects. For more information regarding all St. Louis Equity Fund investments, visit the Real Estate Developments page.