Highland North Newstead Homes

Highland/North Newstead Homes consists of six single-family homes and 12 multi-family townhouse style homes, all of which are affordable. The development is a joint venture between Northside Community Housing, Inc. and North Newstead Association, both of which are previous partners of St. Louis Equity Fund. The single-family homes are leased with an option to purchase at the end of the 15 year Low-Income Housing Tax Credit compliance period.

SLEFI INVESTMENT FUND: St. Louis Equity Fund 2003 L.L.C., St. Louis Equity Fund 2004 L.L.C.
OTHER FUNDING SOURCES:
LOCATION: St. Louis City – Kingsway West
NUMBER OF UNITS: 18
UNIT MIX: 3 and 4 bedroom
TAX CREDITS TYPE: Low-Income Housing Tax Credits
TOTAL INVESTMENT: $3,701,211
TOTAL DEVELOPMENT COST: $4,168,136
DEVELOPER: I-70 Northwest Development Corp/ North Newstead Association
PROPERTY MANAGER: Fox Grove Management
CONSULTANT: RHCDA; Urban Real Estate Consultants
ARCHITECT: Grice Group Architects
ARCHITECT: Mak Architects, Inc.
CONTRACTOR: R. G. Ross Construction Company
LENDER: PNC Bank
CONSTRUCTION LENDER: National City Bank
LIMITED PARTNERSHIP: I-70 NNA, L.P.
GENERAL PARTNER: North Newstead Association
GENERAL PARTNER: Northside Community Housing, Inc.
GENERAL PARTNER: Northside Community Housing XIV, LLC (Legal Entity)
GENERAL PARTNER: Lexington-Ashland GP, LLC (Legal Entity)
LIMITED PARTNER: St. Louis Equity Fund 2003 L.L.C.
LIMITED PARTNER: St. Louis Equity Fund 2004 L.L.C.
ACCOUNTANT: RubinBrown LLP
ATTORNEYS: The Stolar Partnership/ Rosenblum, Goldenhersh, Silverstein & Zafft