Business & Tech
Union gives $6.6 million to Shrewsbury project
The funds will contributed to the $13 million renovation of the Holy Infant and St. Joseph apartments for low-income seniors.
A planned upgrade to the Holy Infant and St. Joseph affordable housing apartments in Shrewsbury received a big boost today with the announcement that PRIDE of St. Louis will be investing $6.6 million in the project.
The news was released at the group's annual downtown summit in St. Louis Tuesday. The funding provided by the AFL-CIO Housing Investment Trust for the $13 million project will renovate existing facilities, create 75 construction jobs and allow for the refinancing of the property's debts, according to the St. Louis Business Journal.
The living facilities for low-income seniors are operated by Cardinal Ritter Senior Services and the project has been in the planning stages for several years. CRSS representative Kevin Klingerman that it aims to improve the older Section 8 housing by converting existing one-room efficiencies into one-bedroom apartments and adding other amenities.
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KMOX reported Tuesday that work is just now starting in the Holy Infant complex to make the rooms more energy efficient and provide new HVAC units and windows.
The investment is part of HITs Construction Job Initiative, which the trust said has poured $174 million across five construction projects in the St. Louis area in recent years, creating 2,550 jobs.