Rise Wellston Homes I, II, III & IV

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Rise has developed a total of 93 new low-income housing tax credit single-family lease/purchase homes in the City of Wellston, Missouri.  These homes were built on concentrated, but scattered, sites in one of the most distressed communities in St. Louis County.  The 40-unit first phase also used St. Louis County HOME funds (completed in 2000).  In the second phase, Rise developed 26 more new single-family homes that also used State HOME funds (completed in 2002).  The third phase added another 12 new single-family homes (completed in 2005) and the fourth phase added the final 15 new single-family homes that also used County HOME funds (completed in 2009).

 

 

Lillian Park Homes I & II

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Rise provided full turn-key real estate development consulting services for a first-phase 11-unit low-income housing tax credit financed single-family lease/purchase homes development in the Walnut Park East neighborhood of St. Louis (completed 2006). These newly-constructed homes helped stabilize the area and cultivated additional development activity.  We provided full turn-key real estate development consulting services again for the second phase of 21 new low-income housing tax credit financed single-family lease/ purchase homes (completed 2009).

St. Ferdinand Homes

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Rise provided full turn-key real estate development consultant services for St. Ferdinand Homes, 18 single-family lease/purchase homes developed using low-income housing tax credit financing in the Greater Ville neighborhood of St. Louis.

Crown Square

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Rise redeveloped the former “14th Street Pedestrian Mall” and the surrounding area in the Old North St. Louis Neighborhood.  This $35.5 million historic rehabilitation effort has revitalized the former “town center” of the neighborhood, creating 80 units of mixed-income rental housing and 33,000 square feet of retail/commercial space in what was a virtually abandoned neighborhood commercial district.  The financing included tax-exempt bonds, low-income housing tax credit equity, historic preservation tax credit equity, New Markets Tax Credit equity, State and City HOME funds, City CDBG funds, City Affordable Housing Commission Trust Fund money and a federal Surface Transportation Enhancement Grant.