www.BellevillePride.com
By: Colby Kluthe/ MetroEast NEWS
January 2, 2011
(GRANITE CITY)
20 New Construction Homes are completed in Granite City, and ready for rental occupancy.
Justine PETERSEN (JP) recently completed construction on 20 new homes that were built with financing committed from Illinois Housing Development Authority (IHDA), Liberty Bank, and Madison County Community Development (MCCD).
Pictured: IL State Rep, Thomas Holbrook; Granite City Mayor, Ed Hagnauer and staff member, Vivian Hudson; Madison County Treasurer, Frank Miles; Madison County Board Members, Rick Francher and Art Asadorian; Granite City Aldermen, Michael Skoklo and Dan McDowell; Liberty Bank, Ed Kasten, Justine PETERSEN Board Members, Filomena Angelucci-Dean, Fr. William Hutchison, and Angela Burrage and staff members Robert Boyle and Sheri Flanigan-Vazquez
The development includes ranch style and two-story homes . All homes are three bedrooms, two bathrooms, and approximately 1,300 square feet. Many green components were incorporated into the design to reduce the utility costs for the low-income tenants.
The remaining 12 homes were completed in
December, and ready for occupancy in January 2011. The homes will be available for rent for 15 years; however the program has a strong homeownership component wherein the tenant may purchase the property after the 15 year rental period for a significantly reduced price. All families will be low-to-moderate income.Individuals who are interested in applying for occupancy can contact Baumann Properties of Madison, IL, who has been appointed to manage the development.
JP is also partnering with IHDA and MCCD to purchase and renovate four foreclosed properties in the same neighborhood. These homes are being financed through the Neighborhood Stabilization Program (NSP) and will be sold to moderate-income families.
Justine PETERSEN was founded in 1997 to honor the memory and continue the important
work of the late Justine M. Petersen, a pioneer in implementing community reinvestment in
St. Louis. Headquartered in Midtown St. Louis JP also operates a Social Entrepreneurship & Branch office in East St. Louis, located at the Emerson Park Metrolink Station.
MORE INFORMATION ABOUT OCCUPANCY~
Baumann Properties 1530 Market St., Madison IL is now accepting applications at anytime. The application fee is $40 per adult. The Security Deposit is $595 and is to be paid within 48 hours of approval.
justinePETERSEN (Central Offices)
1023 N. Grand
St. Louis, MO 63106
314-533-2411
www.justinepetersen.org
