Affordable Homes of Berkeley
Affordable Homes of Berkeley involves the new construction of 30 three-bedroom/two-bathroom, single-family homes on scattered-sites in the City of Berkeley, MO. All the units in the development will be rent-restricted Low-Income Housing Tax Credit units available for occupancy by households at 60% of area median income. The project 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.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2018 L.L.C., St. Louis Equity Fund 2019 L.L.C. |
| LOCATION: | City of Berkeley, St. Louis County |
| NUMBER OF UNITS: | 30 Residential |
| UNIT MIX: | 30 3-bedroom/2-bath |
| CONSTRUCTION TYPE: | New Construction |
| TAX CREDITS TYPE: | Federal Low Income Housing Tax Credits |
| TOTAL INVESTMENT: | $6,569,543 |
| TOTAL DEVELOPMENT COST: | $7,750,180 |
| DEVELOPER: | Rubicon Corporation |
| PROPERTY MANAGER: | ND&S Management Company |
| ARCHITECT: | Curtiss W. Byrne Architect, LLC |
| GENERAL CONTRACTOR: | Rubicon Corporation |
| GENERAL PARTNER: | Berkeley Affordable Homes Partners, LLC |
| LIMITED PARTNER: | SLEF 2018; SLEF 2019 |
| LENDER: | MHDC; Sterling Bank; St. Louis County HOME |
| ACCOUNTANT: | Mueller Prost |
| ATTORNEYS: | Polsinelli PC; Rosenblum Goldenhersh |