State Street Apartments
In April 2006, DeSales completed rehabilitation of seven buildings that make up State Street Apartments. State Street is an affordable housing development completed in partnership with the St. Louis Equity Fund. The project consists of 14 apartments in 7 buildings located on Ohio, California and Oregon Avenues in the Fox Park and Benton Park West neighborhoods. This project will include both moderately rehabbed units as well as complete gut rehabs. All units were outfitted with all new mechanical systems, plumbing, wiring, kitchens, bathrooms, security systems, central air, and off street parking.
State Street received assistance from Missouri Housing Development Commission with an award of federal and state Low Income Housing Tax Credits (LIHTC). The project also received support from former 6th Ward Alderman Lewis Reed and 9th Ward Alderman Ken Ortmann. The project received construction and permanent financing from Southwest Bank.
As the general managing partner of the limited partnership, DeSales was responsible for all aspects of the project, from property acquisition to marketing. DeSales also handles ongoing property management through its affiliated company, Fox Grove Management.