ST. LOUIS — An $18 million senior housing development proposed in Bevo Mill will move forward after the developers were awarded subsidies by a state board, after five years of efforts to secure them.
Crossroads Senior Living at Bevo Mill, a joint project from Tower Grove Community Development Corp. and Lutheran Senior Services, is to have 64 affordable and market-rate apartments for people ages 62 years and older, and employ four full-time staff members, according to a news release. Of the total units, 55 will be designated as affordable, the city said. The complex will feature 52 one-bedroom units and 12 two-bedroom unit, said Tower Grove Development Corp. Executive Director Sean Spencer.
The property that will be used for the project, at 4900-4914 Gravois and 4266 Delor St., was donated by Midwest BankCentre in 2020, its first former bank branch donation to a nonprofit. It has since donated two more branches to other nonprofit organizations. Discussions about the Lemay-based bank donating the land for the project started as far back as 2016, Spencer said.
Funding for the four-story senior living complex comes from state and local governments and a $5.3 million award from the U.S. Department of Housing and Urban Development. The developers had applied for the funding for four years before winning approval this year from the Missouri Housing Development Commission, securing $740,778 in federal credits, $570,000 in state credits, $2.2 million from the National Housing Trust Fund and approval for tax-exempt construction bonds totaling $9 million.
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