April 18, 2023 – WELLSTON, Mo – Today, the Housing Authority of St. Louis County, the Wellston Community Empowerment Corporation, and Knight Development broke ground on Wellington Family Homes, LP, setting the stage for a significant renovation and development effort to begin on the scattered site. The proposed redevelopment effort of 186 units on 65 parcels of land is made possible through the Department of Housing and Urban Development’s Voluntary Conversion Program, which seeks to increase affordable housing opportunities through private investment.
“Over four years ago, these units were scheduled for demolition, which could have destabilized and dispersed this once-thriving African American community, but today hope has returned,” said Mayor Nathaniel Griffin. “The Housing Authority of St. Louis County, Knight Development, and all of our community and development stakeholders look forward to welcoming residents home to a renewed Wellston.”
The extensive renovation may include new kitchen and vanity cabinets, as well as updated countertops, vinyl flooring, paint, toilets, mirrors, Energy Star appliances, sinks, faucets, compliant accessibility features, LED lights, and light fixtures. Exterior upgrades may include new roofing, energy-efficient windows, and sidewalk repair. Residents and applicants will be welcomed in an inviting new leasing office.
The development will primarily serve low to moderate-income seniors and families with children. This community investment promises to have a significant and lasting economic impact. The City of Wellston, various non-profits, and other developers have invested nearly $70 million in complementary development, economic, and blight removal activities, which support the success of this revitalization effort and future plans for growth.
CREA, LLC was the equity provider. Fallbrook Financial Services supplied debt coverage for permanent financing, and Sterling Bank was the construction lender. The allocation agency partner is the Missouri Housing Development Commission. The Industrial Development Authority of the County of St. Louis, Missouri issued Multifamily Housing Revenue Bonds, with approvals from St. Louis Economic Development Partnership. St. Louis County provided additional funding. Snyder Construction Group, DNA Workshop, and Ross & Yerger were enlisted in planning and development. Allied Orion Group has been engaged to provide property management.
ABOUT THE HOUSING AUTHORITY OF ST LOUIS COUNTY – The Housing Authority of St. Louis County (HASLC) is the local administrator for the Housing Choice Voucher, Public Housing, and other federally funded programs to provide housing assistance to more than 6000 individuals in the St. Louis area. For more information, visit haslc.com.
ABOUT THE WELLSTON COMMUNITY EMPOWERMENT CORPORATION – The Wellston Community Empowerment Corporation was formed to ensure revitalization efforts for the community, including Wellington Family Homes, LP.
ABOUT KNIGHT DEVELOPMENT – Knight Development, formerly BGC Advantage, is an award-winning real estate development company, specializing in creating and rehabilitating affordable housing communities. For more information, visit knightdev.co.
News Round Up:
Wellington Family Homes Groundbreaking Ceremony – St. Louis Economic Development Partnership (STL Partnership) News Page, Hannah Nixon
Groundbreaking held for north St. Louis affordable homes project, News 2, Joey Schneider