St. Ferdinand Homes II
This development represents the sixth time St. Louis Equity Fund and Northside Community Housing collaborated to develop an additional 43 housing units and one commercial unit in The Ville neighborhood. St. Ferdinand Homes II consists of scattered site new construction townhomes and rehabilitated historic apartments, with 11 units restricted at 50% AMI, 27 units restricted at 60% AMI, and the remaining 5 units available at market rate. The commercial space will be utilized for a property management office that will serve Northside’s entire neighborhood rental portfolio.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2016 L.L.C. |
| OTHER FUNDING SOURCES: | MHDC HOME Funds; City of St. Louis HOME Funds; St. Louis Affordable Housing Trust Fund; MSD Project CLEAR |
| LOCATION: | St. Louis City / The Ville |
| NUMBER OF UNITS: | 44 (Residential = 43 units, Commercial = 1 unit) |
| UNIT MIX: | Two, Three, and Four Bedroom Units |
| CONSTRUCTION TYPE: | New Construction and Rehabilitation |
| TAX CREDITS TYPE: | Federal and State Low Income Housing Tax Credits |
| TOTAL INVESTMENT: | $7,881,498 |
| TOTAL DEVELOPMENT COST: | $10,336,169 |
| DEVELOPER: | Northside Community Housing, Inc. |
| PROPERTY MANAGER: | Fox Grove Management |
| CONSULTANT: | Rise Community Development |
| ARCHITECT: | St. Louis Design Alliance Architects |
| GENERAL CONTRACTOR: | E.M. Harris Construction Company |
| GENERAL PARTNER: | Northside Community Housing XI, L.L.C. |
| LIMITED PARTNER: | SLEF 2016 |
| LENDER: | Missouri Housing Development Commission |
| ACCOUNTANT: | RubinBrown LLP |
| ATTORNEYS: | Polsinelli PC; Rosenblum Goldenhersh |