ST. CHARLES COUNTY, Mo. — Construction is underway on a new apartment complex in St. Charles County, funded with low-income housing tax credits.
The $42.9 million Reserve at Spencer, a 192-unit development that will have four floors and layouts ranging from one to three bedrooms, will be built in St. Peters, according to a news release from Indianapolis-based real estate development company TWG.
The affordable housing complex, which will be reserved for households earning less than 60% of the area median income, will be the third built by TWG in Missouri, according to the release.
Construction is expected to finish in late 2024, after starting in June, TWG said.
Amenities at the apartments, which will be located at 4000 Ryleigh Reserve Lane, will include a community lounge, clubhouse, community kitchenette, playground, dog park, co-working and meeting rooms, a fitness center, mail and package security rooms, and in-unit washers, dryers and dishwashers.
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