North Newstead 5
North Newstead V is a seven building, 31 unit development consisting of one- and two-bedroom units. This project is located in close proximity to several SLEFI investments and further stabilizes this neighborhood. This development represents the fifth partnership between North Newstead Association and St. Louis Equity Fund.
| SLEFI INVESTMENT FUND: | St. Louis Equity Fund 2008, L.L.C., St. Louis Equity Fund 2009, L.L.C., St. Louis Equity Fund 2010, L.L.C. |
| OTHER FUNDING SOURCES: | TCAP Funds, HOME Funds |
| LOCATION: | St. Louis City – O’Fallon |
| NUMBER OF UNITS: | 31 (Residential = 31 units, Commercial = 0 units) |
| UNIT MIX: | 2 and 3-bedroom units |
| TAX CREDITS TYPE: | Federal LIHTC, State LIHTC |
| TOTAL INVESTMENT: | $3,280,859 |
| TOTAL DEVELOPMENT COST: | $8,234,039 |
| DEVELOPER: | North Newstead Association |
| PROPERTY MANAGER: | Sansone Group |
| CONSULTANT: | RHCDA |
| ARCHITECT: | Grice Group Architects |
| CONTRACTOR: | R. G. Ross |
| LENDER: | MHDC |
| LIMITED PARTNERSHIP: | North Newstead V, LP |
| LIMITED PARTNER: | St. Louis Equity Fund 2008, L.L.C. |
| LIMITED PARTNER: | St. Louis Equity Fund 2009, LLC |
| LIMITED PARTNER: | St. Louis Equity Fund 2010, LLC |
| LIMITED PARTNER: | NNA GP, LLC |
| ACCOUNTANT: | RubinBrown LLP |
| ATTORNEY: | Rosenblum, Goldenhersh, Silverstein & Zafft, PC |
| ATTORNEY: | The Stolar Partnership |