St. Ferdinand Homes II Closes and Two Additional Investments Approved during Third Quarter
The SLEFI Investment Committee approved investments in two developments during the third quarter – Windridge Estates in Bonner Springs, Kansas and Blair Homes in North St. Louis City.
Windridge Estates will consist of 40 two- and three-bedroom apartment units in three garden-style buildings. All of the units will be rent-restricted under the Low Income Housing Tax Credit program and one will be set aside to provide transitional occupancy for a homeless family. Twenty-four units will be available to households earning 50% or less of the area median income and the remaining 16 units will be available to households earning 60% or less of the area median income. This development represents a joint venture between Gardner Capital Affordable Housing LLC and Hart Development Group and will be the first partnership with SLEFI.
Blair Homes will continue the concentrated redevelopment efforts of ND Consulting Group, the Developer of Blair Homes, in the Hyde Park neighborhood. This development will consist of 29 new, affordable homes to be constructed on scattered-sites within this neighborhood which will further enhance several other SLEFI investments in Hyde Park. All of the units in this development will be rent restricted under the Low Income Housing Tax Credit program and will be available to households earning 60% or less of the area median income.
We are proud to be a part of the development teams for these investments and congratulate each of our partners!