North Newstead 4

North Newstead Association and St. Louis Equity Fund partnered a fourth time to develop North Newstead IV, a fourteen unit scattered site development located in the North Newstead neighborhood. This neighborhood has enjoyed previous investments which include 50 homes and New Vision Child Development Center, an early childhood facility which was developed in part through a SLEFI donation.

SLEFI INVESTMENT FUND: St. Louis Equity Fund 2005 L.L.C.
OTHER FUNDING SOURCES:
LOCATION: St Louis City – Penrose/O’Fallon
NUMBER OF UNITS: 14
UNIT MIX:
TAX CREDITS TYPE: Low-Income Housing Tax Credits
TOTAL INVESTMENT: $2,667,413
TOTAL DEVELOPMENT COST: $2,772,680
DEVELOPER: North Newstead Association
PROPERTY MANAGER: Sansone Group
CONSULTANT: RHCDA
ARCHITECT: Grice Group Architects
CONTRACTOR: RG Ross Construction Company
LENDER: Commerce Bank
LIMITED PARTNERSHIP: North Newstead 4-2005, L.P.
GENERAL PARTNER: North Newstead Association
GENERAL PARTNER: West Florissant-Carrie, LLC (legal entity)
LIMITED PARTNER: St. Louis Equity Fund 2005 L.L.C.
ATTORNEY: The Stolar Partnership/ Rosenblum, Goldenhersh, Silverstein & Zafft, P.C.