A Tax Increment Finance district was established for the revitalization of the St. Peters/Waterway neighborhood in 2005. This neighborhood had not seen investment in over 80 years and experienced an increase in blight and crime. Since 2004, CHWC has constructed over 70 new homes and is devoted to the construction of over 60 additional new single-family homes. Since our work began, crime has greatly diminished and existing homeowners have taken greater pride in their neighborhood.
Specifically, the St. Peter’s/Waterway Redevelopment Project includes the following activities:
- The acquisition of property within the redevelopment district. Vacant, tax delinquent and dilapidated properties were targeted for acquisition.
- The demolition of abandoned, unsafe, and dilapidated structures.
- The improvement of sidewalks, sewers, and other utilities.
- The construction of 92 homes, including:
- 71 new single family detached homes
- 12 rehabilitated single family homes
- 9 rental units in 4 rehabilitated buildings
Homebuyer education, loan/grant opportunities and financial counseling is available to each of the new homeowners/tenants.