Welcome to River City Affordable Housing
Creating Safe, Decent, and Affordable Housing
Our Mission
Our mission is to foster the production and preservation of affordable housing for low-income families. We are committed to working with under served populations to provide services for all individuals designed to meet their physical and social needs and to promote general well-being. We strive to provide safe, decent, quality housing, offer resources to improve overall stability, security, physical and mental health, and encourage connection and community building.
About
Our goal is to provide affordable housing and social services to low-income individuals and families in need. By partnering with developers, we help to create more, and improve existing, affordable housing units across the country. We specialize in federal housing programs (HUD, LIHTC) and financing solutions (FHA, SGE, 501(c)(3) public offerings and private placement tax-exempt issuances). By balancing our social mission with financial sustainability, we are best able to serve our residents and communities.
Ways we operate and partner to meet our goals:
✔ Acquiring and developing affordable housing properties: we acquire existing properties to develop new affordable housing units or rehabilitate existing ones.
✔ Securing funding: we secure funding from a variety of sources, such as grants, low-income housing tax credits, and private financing to support our affordable housing projects.
✔ Maximizing occupancy and overseeing operations: we review and manage operating expenses to ensure financial sustainability and ensure that our properties are fully occupied to generate the necessary revenue to cover those expenses and fund future development projects.
✔ Ensuring compliance: we make sure to comply with all applicable regulations and policies related to affordable housing, such as rent control laws and fair housing regulations.
About
Our goal is to provide affordable housing and social services to low-income individuals and families in need. By partnering with developers, we help to create more, and improve existing, affordable housing units across the country. We specialize in federal housing programs (HUD, LIHTC) and financing solutions (FHA, SGE, 501(c)(3) public offerings and private placement tax-exempt issuances). By balancing our social mission with financial sustainability, we are best able to serve our residents and communities.
Ways we operate and partner to meet our goals:
✔ Acquiring and developing affordable housing properties: we acquire existing properties to develop new affordable housing units or rehabilitate existing ones.
✔ Securing funding: we secure funding from a variety of sources, such as grants, low-income housing tax credits, and private financing to support our affordable housing projects.
✔ Maximizing occupancy and overseeing operations: we review and manage operating expenses to ensure financial sustainability and ensure that our properties are fully occupied to generate the necessary revenue to cover those expenses and fund future development projects.
✔ Ensuring compliance: we make sure to comply with all applicable regulations and policies related to affordable housing, such as rent control laws and fair housing regulations.
Communities
Aboussie Pavilion
St. Louis, Missouri | 273 units
1- and 2-bedroom floor plans
100% LIHTC, rents are 60% of AMI
Aboussie Pavilion is currently undergoing a comprehensive rehabilitation to update the building, both interior and exterior. With this rehabilitation, all affordable housing units will be preserved for a minimum of 30 additional years. We are dedicated to fostering a vibrant and inclusive community at this St. Louis location and provide a range of services designed to enhance the resident living experience. With the assistance of an on-site Resident Service Coordinator, residents are provided resources including information about cost-saving grocery assistance programs in collaboration with organizations like the St. Louis Food Bank and Love in Action. In addition, the City of St. Louis Library makes monthly visits to offer residents complimentary access to a wide range of books, movies, and other essential library resources.
Arbors at Water’s Edge
Columbus, Indiana | 150 units
1-, 2-, 3- and 4-bedroom floor plans
100% LIHTC, rents are 60% of AMI
Arbors at Water’s Edge was purchased with the goal of keeping this community affordable. We are proud to offer a robust package of social services to the residents of Arbors at Water’s Edge. Our service offering is centered around four pillars: Health and Wellness, Financial Stability, Education, and Employment. Examples of service offerings include free WiFi in common areas, financial planning classes, career development support, a children’s learning center, homework with a cop, free back-to-school supplies, health and nutrition classes, quarterly blood pressure screenings, on-site flu shots, and monthly arts and crafts classes.
Kimberly Ridge
Kannapolis, North Carolina | 76 units
1-, 2-, 3- and 4-bedroom floor plans
100% LIHTC/90% HAP, rents are 60% of AMI
Kimberly Ridge is currently undergoing an extensive rehabilitation. In addition to upgrading both the exterior and interior of the units, this process will ensure that this apartment community remains affordable for current and future residents. In addition to the low-income requirement, most of the units are also covered under a federal rental assistance program. This means that residents are able to rent at rates as low as 30% of the AMI. We’re proud to be able to secure this source of affordable housing for some of the most vulnerable populations.
Paradise Gardens
Dallas, Texas | 113 units
1- and 2-bedroom floor plans
100% LIHTC/20% HAP, rents are 60% of AMI
Paradise Gardens was a market-rate community that is being converted to 100% affordable in partnership with the Dallas Housing Finance Corporation. The property is undergoing an extensive rehabilitation which will update both the interior and exterior of the units. This project will create new affordable units in a rapidly gentrifying neighborhood of Dallas and provide much needed rent relief for a market experiencing significant rent increases. In addition to the newly affordable units, it will extend a rental subsidy agreement through the Department of HUD that makes units available to households earning as low as 30% of the Area Median Income. River City supported the transaction by providing a construction-bridge loan to facilitate financing the renovation.
Ridge Crest Apartments
St. Louis, Missouri | 83 units
1- and 2-bedroom floor plans
100% LIHTC/88% HAP, rents are 60% of AMI
Ridge Crest is currently undergoing a comprehensive renovation to modernize both the interior and the exterior of the buildings. With this renovation, all affordability restrictions will be preserved for an additional 30 years. Once the renovation is complete, an on-site Resident Service Coordinator will serve as the nexus and primary point of contact for resident needs. The site’s resident services will include afterschool children’s and adolescent programs and career-building and financial literacy programs for adult residents. In addition to these, the Resident Service Coordinator will provide information about cost-saving grocery assistance programs and collaborations with other St. Louis non-profit organizations.
Roosevelt Towne
St. Louis, Missouri | 154 units
1- and 2-bedroom floor plans
100% LIHTC/100% HAP, rents are 60% of AMI
At Roosevelt Towne Apartments, we’re dedicated to improving the lives of our residents. At this location, we provide a dedicated Resident Services Coordinator that is responsible for aggregating resources from a wide range of public agencies. Some of these partnerships include tax assistance from MyFreeTaxes, providing residents with low-cost electronics and internet service via PCs for People, and participation with Love in Action Food Bank for monthly food distributions.
