This is great news for low-income and long-neglected neighborhoods in Saint Louis. From the Instagram of Neal Richardson, Director of SDLC (Saint Louis Development Corporation):

The city’s economic development arm is launching a new $15 million loan fund to spur development and mortgage activity in neighborhoods that traditional lenders have tended to avoid.

The St. Louis Development Corporation says the new fund will help finance as many as 200 new or rehabbed homes in low-income areas for homeownership, specifically, north city!

Read more about it here on the Saint Louis Post Dispatch Website.