DeSales Impact 2014
DeSales Impact 2014 consists of 36 scattered site apartment and townhome units in 14 buildings in the Fox Park, Benton Park West, and Carondelet neighborhoods located in south St. Louis City. All of the units will be rent restricted to house-holds at or below 60% of the area median income. DeSales Community Development serves as the Developer and General Partner, and this development represents the fifth partnership between St. Louis Equity Fund and DeSales.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2014 L.L.C. |
| LOCATION: | Fox Park, Benton Park West, and Carondelet neighborhoods – St. Louis City |
| NUMBER OF UNITS: | 36 |
| UNIT MIX: | One, Two, and Three Bedroom Units |
| CONSTRUCTION TYPE: | Rehabilitation and New Construction |
| TAX CREDITS TYPE: | Federal and State Low Income Housing Tax Credit; Federal and State Historic Rehab Tax Credit |
| TOTAL INVESTMENT: | $3,912,995 |
| TOTAL DEVELOPMENT COST: | $7,316,266 |
| DEVELOPER: | DeSales Community Development |
| PROPERTY MANAGER: | Fox Grove Management |
| ARCHITECT: | Heine & Croghan Architects, Inc. |
| GENERAL CONTRACTOR: | E.M. Harris Construction Company |
| GENERAL PARTNER: | DeSales Community Development |
| LIMITED PARTNER: | SLEF 2014, Sugar Creek |
| LENDER: | Missouri Housing Development Commission (Great Southern Bank Participation Loan) |
| ACCOUNTANT: | RubinBrown LLP |
| ATTORNEYS: | Armstrong Teasdale LLP; Spencer Fane Britt & Browne LLP |