North Newstead 5

North Newstead V is a seven building, 31 unit development consisting of one- and two-bedroom units. This project is located in close proximity to several SLEFI investments and further stabilizes this neighborhood. This development represents the fifth partnership between North Newstead Association and St. Louis Equity Fund.

SLEFI INVESTMENT FUND: St. Louis Equity Fund 2008, L.L.C., St. Louis Equity Fund 2009, L.L.C., St. Louis Equity Fund 2010, L.L.C.
OTHER FUNDING SOURCES: TCAP Funds, HOME Funds
LOCATION: St. Louis City – O’Fallon
NUMBER OF UNITS: 31 (Residential = 31 units, Commercial = 0 units)
UNIT MIX: 2 and 3-bedroom units
TAX CREDITS TYPE: Federal LIHTC, State LIHTC
TOTAL INVESTMENT: $3,280,859
TOTAL DEVELOPMENT COST: $8,234,039
DEVELOPER: North Newstead Association
PROPERTY MANAGER: Sansone Group
CONSULTANT: RHCDA
ARCHITECT: Grice Group Architects
CONTRACTOR: R. G. Ross
LENDER: MHDC
LIMITED PARTNERSHIP: North Newstead V, LP
LIMITED PARTNER: St. Louis Equity Fund 2008, L.L.C.
LIMITED PARTNER: St. Louis Equity Fund 2009, LLC
LIMITED PARTNER: St. Louis Equity Fund 2010, LLC
LIMITED PARTNER: NNA GP, LLC
ACCOUNTANT: RubinBrown LLP
ATTORNEY: Rosenblum, Goldenhersh, Silverstein & Zafft, PC
ATTORNEY: The Stolar Partnership