STAR Residences Phase II
STAR Residences Phase II consists of a new, three-story multi-family apartment building containing 30-units of affordable housing for senior individuals and couples (aged 55+). Each 821 square foot unit has two-bedrooms and one bathroom. All units are rent-restricted Low-Income Housing Tax Credits units available for occupancy to indviduals and households earning less than 60% of area median income. As a phase II development, this project follows the success of STAR Residences Phase I, a 44-unit senior facility located on the same campus, that opened in December 2016.
| SLEF INVESTMENT FUND: | St. Louis Equity Fund 2018 L.L.C. |
| LOCATION: | St. Louis City, MO |
| NUMBER OF UNITS: | 30 Residential |
| UNIT MIX: | 30 2-bedroom/1-bath |
| CONSTRUCTION TYPE: | New Construction |
| TAX CREDITS TYPE: | Federal Low Income Housing Tax Credits |
| TOTAL INVESTMENT: | $5,086,891 |
| TOTAL DEVELOPMENT COST: | $5,913,799 |
| DEVELOPER: | LMAC Holdings, LLC |
| PROPERTY MANAGER: | Sustainable Management, Inc. |
| ARCHITECT: | Wallace Architects, LLC |
| GENERAL CONTRACTOR: | Double Diamond Construction and Development, LLC |
| GENERAL PARTNER: | STAR Management II, LLC |
| LIMITED PARTNER: | SLEF 2018, LLC |
| LENDER: | MHDC |
| ACCOUNTANT: | Elliot, Robinson & Company LLP |
| ATTORNEYS: | Polsinelli PC, Spencer Fane Britt Browne LLP |