COMMUNITY HOUSING CONCEPTS ACQUIRES ESSENTIAL COMMUNITY IN HISTORIC DISTRICT OF ST. LOUIS
Community Housing Concepts (CHC), a Denver, CO based non-profit organization, has announced the acquisition of Union Sarah Apartments.
Union Sarah is a 100 unit Project Based Section 8 community comprised of five buildings scattered throughout the city, with four of the buildings located in a Federal Historic District. Built over a 20 year period between 1898 and 1926, its age and defining architectural features contribute to the historical fabric of the community, which is located just minutes from the Gateway Arch, one of America’s most famous landmarks.
CHC is dedicated to providing safe, decent, and affordable housing options for its residents and revitalizing low income communities. It owns fourteen low income communities, including Low Income Housing Tax Credit and Section 8 properties, with over 1500 units in five states. Hud Karshmer, President of CHC, stressed the importance of the organization’s “strong commitment to working closely with the St. Louis community to preserve the historic property and ensure that the residents have quality housing.”
As part of its commitment to low income housing, CHC has agreed to keep the Project Based Section 8 post-Mark-to-Market property affordable to ensure that ownership will remain with a non-profit organization for the next 50 years.
Steele Properties will oversee the redevelopment of Union Sarah. Monroe Group Ltd. will serve as the property management company.