St. Louis, MO – December 19, 2024 – The Community Builders Network of Metro St. Louis (CBN) proudly announces that several of its member organizations have been awarded Low-Income Housing Tax Credits (LIHTC) through the Missouri Housing Development Commission’s 2025 Multifamily Rental Production Applications. This achievement highlights the ongoing dedication of CBN members to addressing affordable housing needs and fostering equitable community development across the region.
The LIHTC program is a vital tool for financing the construction and rehabilitation of affordable rental housing for low- to moderate-income households. This year’s awards reflect the strength of CBN members in advancing innovative, impactful housing solutions in collaboration with local stakeholders.
Award Highlights
The following CBN member organizations received LIHTC awards for their proposed projects:
DeSales Community Development: The DeSales Preservation II will acquire and rehab 71 units of affordable housing in the Fox Park, Tower Grove East and Benton Park West neighborhoods.
North Newstead Association: The New Northside Rehabilitation will acquire and rehab 113 units of affordable housing in the O’Fallon, Greater Ville, Kingsway West and Penrose neighborhoods.
Preservation of Affordable Housing: The Clinton-Peabody Redevelopment - Phase 1 is new mixed income development of 89 units of which 71 will be affordable housing in the Peabody-Darst-Webbe neighborhood.
Rise Community Development: The Carr Square Tenant Corporation, with the Rise Community Development serving as development consultant, will rehab 182 units of affordable housing in the Carr Square neighborhood.
These developments will result in the creation of 455 new or rehabilitated housing units, expanding access to high-quality, affordable homes while promoting neighborhood stability and economic growth. The over $8 million secured through this recent round of LIHTC funding will be used and leverage to promote the overall total cost of $105M in affordable housing developments in the City of St. Louis.
Commitment to Community Impact
CBN Executive Director Linda Nguyen remarked on the significance of these awards: “These LIHTC allocations underscore the incredible efforts of our members to meet the critical housing needs of our communities. By leveraging these resources, we are not only building homes but also creating opportunities for families and individuals to thrive in our St. Louis region.”
CBN extends its congratulations to all recipients and their partners. Their projects exemplify the power of collaboration in addressing housing challenges and building stronger, more inclusive communities.
About the Community Builders Network of Metro St. Louis
The Community Builders Network of Metro St. Louis (CBN) is a coalition of leaders and organizations committed to creating thriving neighborhoods. Through advocacy, capacity building, and collaboration, CBN empowers its members to develop sustainable housing solutions and strengthen the St. Louis region.
For More Information
To learn more about CBN and its members' work, visit www.communitybuildersstl.org or contact Linda Nguyen at 314-730-5449 or info@communitybuildersstl.org.
