Salisbury Park II

SLEFI, M&I Community Development Corporation and Better Living Communities partnered a second time to develop Salisbury Park II. This development is located in the Hyde Park neighborhood and consists of 22 units. This development is part of a redevelopment plan for the tract of land that lies between Salisbury Street, N. Florissant Ave., and Palm Street in North St. Louis City. The plan calls for affordable rental housing, for-sale market rate housing, and commercial development.

SLEFI INVESTMENT FUND: St. Louis Equity Fund 2005 L.L.C.
OTHER FUNDING SOURCES:
LOCATION: City of St. Louis – Hyde Park
NUMBER OF UNITS: 22
UNIT MIX: Single Family – Two Family 3 – Bedroom Homes
TAX CREDITS TYPE: Low-Income Housing Tax Credits
TOTAL INVESTMENT: $900,573.00
TOTAL DEVELOPMENT COST: $5,330,166.00
DEVELOPER: Better Living Communities
PROPERTY MANAGER: ND & S Management
CONSULTANT: ND Consulting Group
ARCHITECT: Garen Miller, AIA
CONTRACTOR: The Meyer Company
CONSTRUCTION LENDER: MHDC
LENDER: MHDC
LIMITED PARTNERSHIP: Salisbury Park Two, LP
GENERAL PARTNER: BLC Properties Two, LLC (Legal Entity)
GENERAL PARTNER: Better Living Communities
LIMITED PARTNER: St. Louis Equity Fund 2005 L.L.C.
LIMITED PARTNER: M & I Community Development Corporation
ATTORNEY: The Stolar Partnership/Wille, Gregory & Lundeen, LLP. Rosenblum Goldenhersh
ACCOUNTANT: RubinBrown LLC