Emerald Ridge

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Rise redeveloped the former “Defense Area” of East Alton with 46 new affordable single-family lease/purchase homes with a development cost of $16 million. These homes surround three sides of Keasler Park and Recreation Center.  The area was developed in the early 1940’s as housing for the nearby Olin munitions plant employees during World War II.  Conceived to be strictly temporary housing, the barracks-style buildings packed as many small apartments in as dense a site plan as could be accommodated in the project area.  After the war, these buildings were not dismantled as originally planned but were sold off to private owners.  The first phase of redevelopment included the demolition of the existing, obsolete structures. The development team handled both the temporary and permanent relocation of residents.  In addition to the private construction and permanent financing, the development is utilized low-income housing tax credit equity, a State Affordable Housing Tax Credit-eligible charitable contribution, State HOME and a Low Income Energy Efficiency Grant funds, and Madison County HOME, CDBG and UDAG repayment funds.  The ribbon cutting for Emerald Ridge was held on April 6, 2015.

East Fox Homes

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In conjunction with several affiliated not-for-profits, Messiah Lutheran, with Rise as its consultant, undertook the substantial rehabilitation of twelve vacant multifamily buildings with forty-seven one, two and three bedroom apartments located in an otherwise stable and growing neighborhood. The buildings are in the Fox Park, St. Francis DeSales and Tower Grove East National Register historic districts.  The project utilized state and federal LIHTCs and Historic tax credits, tax-exempt bonds, state and local HOME funding, and the City’s Affordable Housing Trust Fund.

Village at Delmar Place

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Village at Delmar Place includes ten new 4-unit, two-story apartment buildings, and lease/purchase fee simple townhouses. The apartments and townhomes have been built to meet Enterprise Green Communities standards and EnergyStar rating requirements.  The unit mix is 16 two-bedroom, 20 three-bedroom and 4 four-bedroom units.  The development includes secured parking and the site has been attractively landscaped with low maintenance sustainable plantings, shrubs, flowering plants, and trees.  A stand-alone community building for residents includes management offices, a meeting/sitting room, computer/study lab, kitchenette, and restrooms.

Barton Apartments

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In 2001 Rise (formerly RHCDA) completed this 18-unit historic rehab apartment development in the Soulard neighborhood of St. Louis serving as the full turn-key real estate development consultant, using tax-exempt bonds, low-income housing tax credit equity and historic preservation tax credit equity.