Bremen Homes
Bremen Homes is located in the Hyde Park neighborhood of St. Louis City and consists of 30 three-bedroom, 6 two-bedroom, and 4 four-bedroom homes. This development further enhances previous Equity Fund investments located in Hyde Park, including Salisbury Park I, II and III and Irving School. Bremen Homes, like the Salisbury Park homes, will be offered to the tenants through a homeownership plan. The general partner, Better Living Communities (BLC), intends to sell the homes upon the expiration of the 15 year tax credit compliance period. BLC, in cooperation with various community partners, will provide resources needed by the residents to ensure that they will be prepared to assume the responsibility of homeownership when offered that opportunity. This investment represents the 4th partnership between St. Louis Equity Fund and Better Living Communities.
| SLEFI INVESTMENT FUND: | St. Louis Equity Fund 2012, L.L.C. |
| OTHER FUNDING SOURCES: | First National Bank of St. Louis, NA; Lutheran Church Extension Fund |
| LOCATION: | St. Louis City – Hyde Park |
| NUMBER OF UNITS: | 40 Residential |
| UNIT MIX: | 6 2-bedroom, 30 3-bedroom, 4 4-bedroom |
| TAX CREDITS TYPE: | Federal LIHTC, State LIHTC |
| TOTAL INVESTMENT: | $6,623,338 |
| TOTAL DEVELOPMENT COST: | $10,234,347 |
| DEVELOPER: | Better Living Communities |
| PROPERTY MANAGER: | ND & S Management Company LLC |
| CONSULTANT: | ND Consulting Group |
| ARCHITECT: | Garen Miller |
| CONTRACTOR: | E. M. Harris |
| LENDER: | Lutheran Church Extension Fund |
| LIMITED PARTNERSHIP: | Bremen Homes, LP |
| GENERAL PARTNER: | BLC Properties 4 LLC |
| LIMITED PARTNER: | St. Louis Equity Fund 2012, L.L.C. |
| LIMITED PARTNER: | First National Bank Of St. Louis, NA |
| ACCOUNTANT: | Sabino & Co., L.L.C. |
| ATTORNEY: | Rosenblum, Goldenhersh, Silverstein & Zafft, PC |
| ATTORNEY: | The Stolar Partnership |