Forty new single-family homes are headed to a stretch of city-owned land along Evans Avenue in north St. Louis, funded by a $17 million package of federal tax credits and municipal loans that Habitat for Humanity St. Louis says will begin construction later this year. The homes will rise east of North Newstead Avenue in the Vandeventer neighborhood, an area that has spent decades losing population before a modest rebound in the last census count.
According to KSDK, Habitat for Humanity St. Louis secured $17 million in New Markets Tax Credits for the project, with the Enterprise Financial Community Development Entity contributing $6.7 million and the U.S. Bank Community Development Entity adding $3.3 million. The St. Louis Development Corporation kicked in $7 million in tax credits plus a separate $3.45 million loan, and the development carries another $8.8 million in leveraged financing from Midwest BankCentre. Kimberly McKinney, CEO of Habitat for Humanity St. Louis, said conversations with the St. Louis Development Corporation began early in 2025, well before last year's deadly storm reshaped the city's housing math.
The May 16, 2025 tornado, McKinney said, exacerbated the critical need for more affordable housing in St. Louis. That storm was no ordinary weather event: the rain-wrapped EF3 reached peak winds of 152 mph and a maximum width of 1.8 miles, killing five people and causing $1.6 billion in damage to more than 5,000 structures, according to the National Weather Service. Meteorologists rated it the widest tornado in the St. Louis region since reliable records began in 1950.
A 40th Anniversary Milestone Built in Concrete
The timing carries symbolic weight beyond the storm recovery. The 40-home build coincides with Habitat for Humanity St. Louis's 40th anniversary in 2026, a nonprofit affiliate that has constructed or rehabilitated more than 450 homes serving over 1,700 residents in the region, according to Smith NMTC Associates, LLC. The organization has branded the effort around the slogan “40 Years. 40 Homes.”
Habitat will act as master developer on the project, offering five distinct single-family home designs ranging from 1,400 to 1,800 square feet and partnering with local modular builders, per the same source. The City of St. Louis also awarded $3.25 million in American Rescue Plan Act funds toward the Evans Avenue build, with city-owned lots along the corridor being transferred to Habitat in phases after city-funded site clearing and preparation.
How Families Qualify for the Homes
These are not giveaways. Qualifying buyers for Habitat Saint Louis homes typically earn between 25% and 50% of Area Median Income, and up to 80% for designated New Markets Tax Credit builds, according to Habitat for Humanity St. Louis. Buyers must complete 250 to 350 sweat equity volunteer hours, including mandatory courses in personal finance, home maintenance, and insurance, before assuming a 30-year affordable mortgage.
The financing tool itself is unusual. New Markets Tax Credits are historically used for commercial or multifamily real estate, but applying the credits to single-family homeownership was first developed in 2008 by Smith NMTC Associates alongside U.S. Bank and Habitat for Humanity to bridge appraisal gaps in distressed markets. Through mid-2026, that model has deployed more than $933 million in tax credit capital to build over 6,200 affordable homes nationwide, per Smith NMTC Associates.
Locally, the St. Louis Development Corporation created its Housing Access & Neighborhood Stabilization Revolving Loan Fund in 2022, combining American Rescue Plan Act funds and New Markets Tax Credits to subsidize for-sale homes for buyers earning below 80% of Area Median Income, according to the St. Louis Development Corporation.
A Neighborhood on the Rebound
Vandeventer's population rose 18% to 2,041 residents over the prior decade, according to 2020 U.S. Census data, reversing steep historic declines of 40% between 1990 and 2000 and 24% between 2000 and 2010. The neighborhood maintained 1,130 total housing units with an 85% occupancy rate as of that count.
The Evans Avenue build also fits into the city's broader post-tornado recovery playbook. Following last year's storm, the City of St. Louis directed $2.5 million from its Rams Settlement allocation to repair 101 vacant rental properties across north and south side neighborhoods, as Hoodline previously reported, averaging repair grants of $9,590 per unit to quickly reopen empty units. The St. Louis Planning Commission also formally adopted the “A Stronger Northside” plan in January to guide long-term recovery across neighborhoods including The Ville, Greater Ville, and Kingsway East, connecting municipal departments with more than $250 million previously allocated under the Economic Justice Action Plan.
What Comes Next
Habitat for Humanity Saint Louis plans to hold a public community and press event on Tuesday, August 18, at 4200 Evans Avenue to share full site details before groundbreaking begins this fall. Article author Kate Marijolovic reported for KSDK that the nonprofit had quietly worked with city officials and financial partners for nearly two years before making the announcement public.
Questions remain about the exact construction timeline and how many families displaced by last year's tornado will end up among the homeowners on Evans Avenue. Those details, along with confirmation of which modular builders will partner on the five home designs, are expected to become clearer once Habitat holds its site event later this month.
