Rise received approval for a reservation of tax credits from the Missouri Housing Development Commission on December 4, 2015 for its Adams Grove affordable housing development. The development will consist of 50 townhomes and garden apartments, incorporating contemporary design, green building and universal design principles in the area of the Forest Park Southeast neighborhood that lies south of Manchester. Our intent is to help maintain an economically diverse and vibrant community by interspersing well-designed affordable homes within a larger development area that is primed for more market-rate development. We believe it is important that affordable housing be indistinguishable in quality, blend into and complement other new development in the area.
Here is a little bit of history concerning Rise’s previous work in the area:
In 2001, Rise partnered with Forest Park Southeast Development Corporation (now under the umbrella of Park Central Development Corporation), to acquire 36 absentee-owned, poorly managed and maintained rental properties, all located in a 3×4 block area of the neighborhood north of Manchester. The Rise partnership introduced professional property management and completed the complete historic rehab of 24 of the buildings as 73 affordable apartments (Park East Apartments) in 2003. In a complementary development, the Rise partnership completed the historic rehab and conversion of 11 of the remaining buildings into single-family market-rate homes (Park East Homes) in December 2004. Park East Homes bolstered the homeownership market in the neighborhood and further stabilized the area north of Manchester. The remaining mixed-use building that was acquired was sold to the owner of the business that had been a long-time tenant of the building. All 36 buildings are located within walking distance of the BJC/Washington University Medical Center campus.
In 2006, again working with Forest Park Southeast Development Corporation, Rise completed the historic rehabilitation of another 13 buildings with 27 residences in the part of the neighborhood that lies north of Manchester, bringing us to a total to 48 historic rehab buildings in the neighborhood.
Our work in Forest Park Southeast proved to be both catalytic and prophetic. In the following years, other developers began developing a wide variety of housing, including larger multi-family projects, mixed-use buildings, custom homes, and historic rehabilitation.
St. Louis is a city of neighborhoods and Forest Park Southeast (FPSE) is currently one of its most dynamic. In recent years, FPSE has seen a dramatic rise in commercial and retail development (the area known as “the Grove”) and an improving residential real estate market. FPSE is situated at a nexus of growth in job opportunities not seen in many other parts of the metropolitan area. This part of St. Louis is now the third largest job center in the region, behind only Downtown and Clayton, and it is projected to pass Clayton in the next few years.
We will keep you posted as things move forward with Adams Grove.
For our press release concerning Adams Grove, click here.
For a recent article on stltoday.com featuring Rise and Adams Grove, click here.
Preliminary Elevation for Adams Grove
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Wellston Case Study Features Rise
/in Uncategorized /by Larry PerlmutterRise has been a local partner for some time with an organization known as the National Neighborhood Indicators Partnership (NNIP) convened by the Urban Institute.
Eleanor Tutt (Data Mangement Coordinator at Rise) is on the Executive Committee and has been involved in the Choice Neighborhoods Initiative in Wellston. The Urban Institute is featuring the work of NNIP partners involved in Federal initiatives and has therefore created a report and other briefs which have also been sent to the White House office for science and technology policy and the OMB Community Solutions team. Rise is featured in the Wellston Case Study. Here is an excerpt from the report:
“In 2013, Wellston, Missouri was invited to participate in the Choice Neighborhoods Initiative, a major neighborhood revitalization program by the US Department of Housing and
Urban Development (HUD). Wellston is a city of 2,600 residents located in St. Louis County on the western border of the City of St. Louis and is well positioned for this new investment. Leaders in the St. Louis region consider Wellston an important economic link between the city and the county. Because of its strategic location, two rapid transit stations, and major commercial corridors that connect the area to the regional economy, Wellston’s revitalization could trigger revitalization in the surrounding areas. Wellston has major investment partners and assets, including the Wellston Housing Authority’s approximate 200 units of scattered site public housing and approximately 90 affordable housing units managed by Rise. Maintaining and redeveloping these assets are a critical piece to revitalization.”
To read the full report, click here.
Rise does much more than develop indicators to support planning work. Rise provides access to data and makes it relevant to its users. Rise has been in the Wellston neighborhood working directly with residents and participating in Choice Neighborhood planning meetings. Staff are helping residents understand and use data to represent their perspective in the planning process.
Rise enables organizations, residents, and other stakeholders to use data to inform the vision and strategies for neighborhood planning. This technical assistance allows those with limited experience working with data to fully participate in the planning process.
Rising Stars, New Innovative Program from Rise
/in Press Releases /by Larry PerlmutterRise would like to announce its pilot “Rising Stars” Program. This program will serve as a mentorship, education and hands-on training program for exceptional university students or recent graduates interested in careers in community economic development in the St. Louis metropolitan area. Rise will provide education, supervision, professional development plans and otherwise prepare the Rising Stars for placement in real-world environments. Ultimately, our desire is to develop an emerging group of community development practitioners, “Rising Stars,” that can be placed in positions at local community development non-profit organizations, bank community development corporations and/or public sector planning and community development offices.
Rise was awarded a grant from the Opus Foundation for $25,000 in support of the pilot program. Earlier this year, Rise was invited by the Opus Foundation to submit a grant application to their Impact Fund in the Community Revitalization category and on December 2nd, Rise received notification that the application was successful. For our press release concerning the Opus Foundation’s funding click here.
The Rising Stars Program concept came about due to the need for capacity building in local Community Development Corporations (CDCs). Often, CDCs lack adequate staff to advance their mission and goals. However, with Rise as the intermediary in the Program, we have the ability to educate and develop an emerging group of practitioners through paid on the job training while building the capacity of CDCs by placing its Rising Stars with them.
We will keep you informed as the program emerges in 2016.
Adams Grove on the Rise
/in Real Estate Development, Rise in the News /by Larry PerlmutterRise received approval for a reservation of tax credits from the Missouri Housing Development Commission on December 4, 2015 for its Adams Grove affordable housing development. The development will consist of 50 townhomes and garden apartments, incorporating contemporary design, green building and universal design principles in the area of the Forest Park Southeast neighborhood that lies south of Manchester. Our intent is to help maintain an economically diverse and vibrant community by interspersing well-designed affordable homes within a larger development area that is primed for more market-rate development. We believe it is important that affordable housing be indistinguishable in quality, blend into and complement other new development in the area.
Here is a little bit of history concerning Rise’s previous work in the area:
In 2001, Rise partnered with Forest Park Southeast Development Corporation (now under the umbrella of Park Central Development Corporation), to acquire 36 absentee-owned, poorly managed and maintained rental properties, all located in a 3×4 block area of the neighborhood north of Manchester. The Rise partnership introduced professional property management and completed the complete historic rehab of 24 of the buildings as 73 affordable apartments (Park East Apartments) in 2003. In a complementary development, the Rise partnership completed the historic rehab and conversion of 11 of the remaining buildings into single-family market-rate homes (Park East Homes) in December 2004. Park East Homes bolstered the homeownership market in the neighborhood and further stabilized the area north of Manchester. The remaining mixed-use building that was acquired was sold to the owner of the business that had been a long-time tenant of the building. All 36 buildings are located within walking distance of the BJC/Washington University Medical Center campus.
In 2006, again working with Forest Park Southeast Development Corporation, Rise completed the historic rehabilitation of another 13 buildings with 27 residences in the part of the neighborhood that lies north of Manchester, bringing us to a total to 48 historic rehab buildings in the neighborhood.
Our work in Forest Park Southeast proved to be both catalytic and prophetic. In the following years, other developers began developing a wide variety of housing, including larger multi-family projects, mixed-use buildings, custom homes, and historic rehabilitation.
St. Louis is a city of neighborhoods and Forest Park Southeast (FPSE) is currently one of its most dynamic. In recent years, FPSE has seen a dramatic rise in commercial and retail development (the area known as “the Grove”) and an improving residential real estate market. FPSE is situated at a nexus of growth in job opportunities not seen in many other parts of the metropolitan area. This part of St. Louis is now the third largest job center in the region, behind only Downtown and Clayton, and it is projected to pass Clayton in the next few years.
We will keep you posted as things move forward with Adams Grove.
For our press release concerning Adams Grove, click here.
For a recent article on stltoday.com featuring Rise and Adams Grove, click here.
Preliminary Elevation for Adams Grove
Rise Receives Federal and State Tax Credits for Adams Grove Development
/in Press Releases /by Larry PerlmutterDecember 14, 2015–Rise Community Development received approval from the Missouri Housing Development Commission on December 4, 2015 for a reservation of tax credits for its Adams Grove affordable housing development. The development will consist of 50 townhomes and garden apartments, incorporating contemporary design, green building and universal design principles in the Forest Park Southeast neighborhood in the City of St. Louis. The project architect is Trivers Associates and the general contractor will be Altman Charter. The project is part of a larger, more collaborative effort with Forest West Properties, Inc. (FWP), a subsidiary of Washington University Medical Center Redevelopment Corporation (WUMCRC). Forest West Properties has solicited numerous developers to build up to 150 additional market rate homes in the part of the neighborhood that lies south of Manchester. Rise’s work in the Forest Park Southwest neighborhood, which began fifteen years ago, has been a major catalyst for the redevelopment of the neighborhood and the area now known as “The Grove.”
About Rise (www.risestl.org) Rise is a nonprofit organization that partners with communities to build stronger, more equitable St. Louis area neighborhoods. Rise develops both affordable and market-rate housing, particularly in neighborhoods with the potential to enhance economic diversity. Rise has developed or assisted in $700 million in neighborhood redevelopment in the St. Louis area.
About WUMCRC (www.wumcrc.com) Washington University Medical Center Redevelopment Corporation (WUMCRC), is a partnership between BJC Health Care and Washington University School of Medicine and works to improve the quality of life for the neighborhoods surrounding the medical campus. In order to achieve this goal in Forest Park Southeast and the Central West End , WUMCRC has invested millions of dollars toward regenerating the market for private investment in businesses and real estate, enhancing human and social service opportunities, and improving the level of physical and personal security.