News Release – June 3, 2003

Ceremonies mark completion of $5.3 million renovation project in Florissant

A special ribbon-cutting ceremony will be held 11:30 a.m., June 10, to celebrate the completion of the $5.3 million renovation of Charbonier Manor Apartments, located at 844 Thompson Drive in Florissant.  The ceremonies at the site will include a luncheon for invited guests.

Gundaker Commercial Group (GCG) recently completed the extensive rehabilitation project on the property after receiving funding from the Missouri Housing Development Commission (MHDC) and Fannie Mae.  Funding included a $1,855,770 Fannie Mae loan that was combined with a $618,590 MHDC loan and $296,430 in federal and state Rental Housing Tax Credits to finance the development.

Extensive rehabilitation at the 72-unit complex includes the addition of two ADA accessible units.  Each of the 18 buildings received new windows, patio doors, soffit, fascia, balconies, shingled roofs and gutters.  Interior renovations included new cabinetry, flooring, paint, electrical devices, plumbing fixtures and wire shelving.  The entire complex underwent a complete transformation as landscaping was updated around each building.  Construction began in mid-April 2002 with recent completion in May.

Apartments rent for $530 per month.  Contact Connie Boehle, Director of Multi-Family Property Management, at (314) 298-5146 for more information regarding this community.

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NOTE TO EDITORS:  Media representative questions can be directed to Brandon Laster, Public Information Officer, at 816.759.6692 or e-mail blaster@mhdc.com.