Cottages at Cathedral Square

Cottages at Cathedral Square is a new community that will provide affordable rental housing with supportive services for seniors in the Belleville, Illinois area.  The development will consist of the construction of 32 affordable apartments, half of which will be one-bedroom garden-style and the remaining will be two-bedroom units.  Common space will include a barber shop, a health screening/examination room, a large community room, a fitness center, gardening areas, patios and BBQ grills.  Cottages at Cathedral Square represents the first partnership between Metropolitan Housing Development Corporation, Touchette Regional Hospital, Inc., and SLEFI.

SLEF INVESTMENT FUND: St. Louis Equity Fund 2014 L.L.C.
LOCATION: Belleville, Illinois
NUMBER OF UNITS: 32
UNIT MIX: One and Two Bedroom Units
CONSTRUCTION TYPE: New Construction
TAX CREDITS TYPE: Federal Low Income Housing Tax Credit; Illinois Housing Development Authority Trust Fund; Illinois Dept. of Commerce & Economic Development Energy Grant; City of Belleville Grant; Southern Illinois Healthcare Foundation
TOTAL INVESTMENT: $6,102,670
TOTAL DEVELOPMENT COST: $8,576,911
DEVELOPER: Metropolitan Housing Development Corporation and Touchette Regional Hospital, Inc.
PROPERTY MANAGER: Resident Management Services, Inc.
ARCHITECT: EWR Associates, Inc.
GENERAL CONTRACTOR: IMPACT Strategies
GENERAL PARTNER: Cottages GP LLC
LIMITED PARTNER: SLEF 2014
LENDER: BMO Harris Bank
ACCOUNTANT: Novogradac & Company LLP
ATTORNEYS: Armstrong Teasdale LLP; Polsinelli PC