Partners Seek Tax Credit for “Peace Place”
Date Posted: September 24, 2024
Posted In: Organizations, Projects,
From Webster-Kirkwood Times: Members of the Webster Groves community remain committed to building affordable senior housing at 204 E. Lockwood Ave., and will again submit an application for federal and state tax low-income housing tax credits despite being denied funding a year ago.
The land is owned by Peace United Church of Christ (UCC), whose congregation was housed there from 1920 until 2023. It moved to Eden Seminary’s property in 2023 to focus resources on mission work.
Last year, Peace UCC partnered with the Housing Authority of St. Louis County to form a for-profit entity known as Peace Partners whose goal is to create an affordable senior housing development, Peace Place, at the church’s former location.
Shannon Koenig, executive director of the Housing Authority of St. Louis County, said during a public meeting about the project on Tuesday, that the process is highly competitive and it’s fairly typical to be rejected on the first pass.
Peace Partners will submit a new application for funding on Sept. 18 to the Missouri Housing Development Commission.
The application will again seek housing tax credits to support a 52-unit building comprised of one- and two-bedroom apartments. Eligibility requirements would include those ages 62 years and older with a maximum income threshold of roughly $42,000 annually.