TGNCDC Awarded $620,000 in Gap Financing to Build 5 New Homes

Tower Grove Neighborhoods Community Development Corporation  (TGNCDC), in partnership with Rubicon Development,  has been awarded $620,000 in gap financing to build 5 new construction single family homes in 2015. The location of the new homes are:

1. 4056-58 Detonty (Shaw neighborhood) 2. 3279 Alfred (Tower Grove South neighborhood) 3. 3283 Alfred (Tower Grove South neighborhood) 4. 3884 Fairview (Tower Grove South neighborhood) 5. 3504 S. Spring (Tower Grove South neighborhood)

Construction on the Spring and Fairview homes will begin in early 2015.   All the new homes will be built on long vacant lots owned by the Saint Louis City land bank, Land Reutilization Authority (LRA).  The new construction homes will attract new home owners who are invested in our communities, eliminate the need for the City of St. Louis to provide ongoing maintenance, and increase the tax base over time.  Below are photos of two homes to be built.  Thanks to former Alderwoman Florida, Alderwoman Green,  Alderman Conway and Alderman Vollmer for supporting the projects.  Please contact Sean Spencer for any additional information at sean@towergrovecdc.org.