February 27, 2020 | Green Street
Green Street is set to construct a 168-unit multifamily development in St. Louis, offering both market-rate apartments and workforce housing units priced around 15% below market rates. The project is unique in its efforts to prevent neighborhood displacement while providing amenities comparable to luxury apartments. Abdul-Kaba Abdullah, executive director of Park Central Development, called it “revolutionary.” The project is part of Green Street’s $60 million 2020 pipeline and $75 million 2021 pipeline. The development will leverage the company’s past experience and relationships with lenders to make it financially feasible as workforce housing, ensuring residents can benefit from neighborhood revitalization.
