Homes at Walnut Creek II
Homes at Walnut Creek Phase II, a 14 single-family home development, is located in Wellsville, Kansas, and will enhance the recently completed Homes at Walnut Creek Phase I. Phase I involved the construction of 18 new, affordable, single-family homes in the same subdivision and reach 100% occupancy in April 2020. Each home in Phase II has three bedrooms, two full bathrooms, and an attached two-car garage and all are LIHTC units restricted to 60% AMI utilizing the average income set-aside. This is SLEFI’s second partnership with North Star Housing.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2020 L.L.C. |
| LOCATION: | Wellsville, Kansas |
| NUMBER OF UNITS: | 14 Residential |
| UNIT MIX: | 14 3-bedroom; 2 bath |
| CONSTRUCTION TYPE: | New Construction |
| TAX CREDITS TYPE: | Federal Low Income Housing Tax Credits |
| TOTAL INVESTMENT: | $2,847,715 |
| TOTAL DEVELOPMENT COST: | $3,591,696 |
| DEVELOPER: | North Star Housing, LLC |
| PROPERTY MANAGER: | Belmont Management Company, Inc. |
| ARCHITECT: | Wallace Architects, LLC |
| GENERAL CONTRACTOR: | Oakwoods Contracting, LLC |
| GENERAL PARTNER: | North Star Wellsville II, LLC |
| LIMITED PARTNER: | St. Louis Equity Fund 2020 L.L.C. |
| LENDER: | Legacy Bank & Trust Company |
| ACCOUNTANT: | Tidwell Group |
| ATTORNEYS: | Polsinelli; Rosenblum Goldenhersh |