DeSales Impact 2014

DeSales Impact 2014 consists of 36 scattered site apartment and townhome units in 14 buildings in the Fox Park, Benton Park West, and Carondelet neighborhoods located in south St. Louis City. All of the units will be rent restricted to house-holds at or below 60% of the area median income. DeSales Community Development serves as the Developer and General Partner, and this development represents the fifth partnership between St. Louis Equity Fund and DeSales.

SLEF INVESTMENT FUND: St. Louis Equity Fund 2014 L.L.C.
LOCATION: Fox Park, Benton Park West, and Carondelet neighborhoods – St. Louis City
NUMBER OF UNITS: 36
UNIT MIX: One, Two, and Three Bedroom Units
CONSTRUCTION TYPE: Rehabilitation and New Construction
TAX CREDITS TYPE: Federal and State Low Income Housing Tax Credit; Federal and State Historic Rehab Tax Credit
TOTAL INVESTMENT: $3,912,995
TOTAL DEVELOPMENT COST: $7,316,266
DEVELOPER: DeSales Community Development
PROPERTY MANAGER: Fox Grove Management
ARCHITECT: Heine & Croghan Architects, Inc.
GENERAL CONTRACTOR: E.M. Harris Construction Company
GENERAL PARTNER: DeSales Community Development
LIMITED PARTNER: SLEF 2014, Sugar Creek
LENDER: Missouri Housing Development Commission (Great Southern Bank Participation Loan)
ACCOUNTANT: RubinBrown LLP
ATTORNEYS: Armstrong Teasdale LLP; Spencer Fane Britt & Browne LLP