SLEFI Development Update

St. Ferdinand Homes II, a 43-unit development in The Ville neighborhood, was completed and fully leased in May 2019. The development consists for 5 market-rate units and 38 LIHTC units and represents the 6th partnership between SLEFI and Northside Community Housing.

Windridge Estates is located in Bonner Springs, Kansas, and consists of 40 units. This development achieved 100% lease-up in July 2019. Windridge Estates II was closed in October 2019, and construction is anticipated to be complete on this 32-unit project in January 2021. All of the units in both phases are rent-restricted LIHTC units and each development has one unit set aside to provide transitional occupancy for a homeless family. Gardner Capital Affordable Housing and Hart Development are the Developer and General Partner of these developments.

Pine Lawn Manor is the 18th partnership between Beyond Housing and SLEFI. This development reached 100% lease-up in August 2019 and consists of 41 new three-bedroom homes, all of which are available for occupancy by households at 60% or less of the area median income. Located in the City of Pine Lawn in St. Louis County, this development enhances previous SLEFI investments in the neighborhood.

Construction at Scott Manor was complete in December 2019 and lease-up is underway. This three-story building is located in unincorporated North St. Louis County and consists of 42 LIHTC units, all of which have two bedrooms and are available to residents 55 years of age and older. This is SLEFI’s first partnership with developers Kevin Buchek with Roanoake Construction and Bishop Calvin Scott with Believers Temple Word Fellowship Church.

Homes at Walnut Creek consists of 18 new, affordable, single-family homes located in a subdivision in Wellsville, Kansas.  Construction was complete in December 2019, and 100% lease-up is anticipated in February 2020. This is SLEFI’s first partnership with North Star Housing, the Developer and General Partner.

Construction at STAR Residences Phase II is anticipated be finished in June 2020, with lease-up wrapping up in October. This is a three-story multi-family apartment building located in the Walnut Park West neighborhood of St. Louis City and contains 30-units of affordable housing for senior individuals and couples (aged 55+).  As a phase II development, this project follows the success of STAR Residences Phase I, a 44-unit senior facility located on the same campus, that opened in December 2016. This is SLEFI’s first partnership with Lewis McKinney of LMAC Holdings, the Developer and General Partner.

Affordable Homes of Berkeley was closed in October 2019 and construction is in progress. This project consists of the new construction of 30 three-bedroom/two-bathroom, single-family LIHTC homes on scattered-sites in the City of Berkeley, MO. It is a follow-up to the Berkeley Manor LIHTC development – completed in December 2013 – which built 30 similar single-family homes in the same immediate neighborhood as Affordable Homes of Berkeley as part of the disaster relief/LIHTC program. In addition to the 30 residential homes, the project will also include the renovation of a home in the neighborhood that will be used as a center for service enriched programs for residents offered/coordinated by Horizon Housing Foundation. Rubicon Corporation is the Developer and General Partner of this project.