Sinai Village II Groundbreaking in East St. Louis, Rise is a vital partner

The groundbreaking for Sinai Village II took place on April 28, 2014 in East St. Louis, Illinois. This marks the beginning of 30 new single family homes in the Winstanley neighborhood of East St. Louis, Illinois as part of a $9.5 million revitalization scheduled for completion in spring 2015.

Rise is the development consultant providing assistance to Mount Sinai Development Corporation (MSDC) in project feasibility, financial structuring, project applications, reporting and final closing.

Rise will remain involved in the consulting role through the construction and lease-up of Sinai Village II. A Rise affiliate, Technical Assistance Corporation (TAC) provided pre-development financing to MSDC to cover the costs of property acquisition, professional services, and application fees.  Another Rise affiliate, St. Louis Public Development Corporation I (PDC I) is co-guarantor with MSDC and will remain involved in the project throughout the 15 year project compliance period providing asset management assistance.

Rise is building strong and healthy neighborhoods, improving the quality of life in our communities.