DeSales Preservation
DeSales Preservation consists of 65 scattered site apartment units, flats, and townhouse units in 19 buildings in the Fox Park and Benton Park West neighborhoods in south St. Louis City. All of the units will be rent restricted to households at or below 60% of the area median income. DeSales Community Development serves as the Developer and General Partner, and this development represents the sixth partnership between St. Louis Equity Fund and DeSales.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2015 L.L.C. |
| LOCATION: | Fox Park and Benton Park West neighborhoods – St. Louis City |
| NUMBER OF UNITS: | 65 |
| UNIT MIX: | Two, Three, and Four Bedroom Units |
| CONSTRUCTION TYPE: | Rehabilitation |
| TAX CREDITS TYPE: | Federal and State Low Income Housing Tax Credit; Federal and State Historic Rehab Tax Credit |
| TOTAL INVESTMENT: | $2,258,957 |
| TOTAL DEVELOPMENT COST: | $8,415,559 |
| DEVELOPER: | DeSales Community Development |
| PROPERTY MANAGER: | Fox Grove Management |
| ARCHITECT: | Naismith-Allen |
| GENERAL CONTRACTOR: | E.M. Harris Construction Company |
| GENERAL PARTNER: | DeSales Community Development |
| LIMITED PARTNER: | SLEF 2015, Sugar Creek |
| LENDER: | Sterling Bank & Trust; Jefferson Bank & Trust |
| ACCOUNTANT: | RubinBrown LLP |
| ATTORNEYS: | Polsinelli PC; Spencer Fane LLP |