As Habitat for Humanity Saint Louis celebrates 40 years of impact in 2026, it’s preparing to develop 40 new homeownership opportunities in the Vandeventer neighborhood of St. Louis, Missouri with the support of a New Markets Tax Credit-funded loan.

On July 31, 2026, a total of $17 million in New Markets Tax Credits was deployed by St. Louis Development Corporation ($7M), Enterprise Financial CDE, LLC ($6.7M), and USBCDC LLC ($3.3M) to Habitat for Humanity Saint Louis for the development of affordable for-sale homes. U.S. Bancorp Community Development Corporation was the NMTC investor and Smith NMTC Associates, LLC facilitated the closing to maximize the project’s community benefits, provide the recapture guaranty and guidance through the 7-year compliance and impact reporting period.

In addition to the NMTC loan, Habitat Saint Louis has secured $3.25 million in American Rescue Plan Act (ARPA) funding from the City of St. Louis and a $8.8M loan from Midwest BankCentre to help finance the project. The City of St. Louis is further supporting the development effort by conveying lots to Habitat Saint Louis in phases and demolishing existing structures and removing other development impediments prior to transfer.

Howard Smith, co-founder and principal of Smith NMTC Associates, LLC, shared how his personal passion for homeownership was nurtured through his decades-long relationship with Habitat Saint Louis, and how important this project is to St. Louis and its residents:

“Over my 30 years as a volunteer with Habitat Saint Louis, I have seen how strategic financing can transform tragedy into long-term stability. By blending innovative funding with grassroots dedication, NMTCs are providing the vital capital needed to build 40 new homes following the devastating May 2025 tornado. Closing our company’s 10th NMTC transaction with Habitat Saint Louis, we are not just rebuilding houses together—-we are restoring neighborhoods and strengthening communities.”

Community Transformation Through Homeownership

The NMTC-funded loan will support the development of 40 new homes on city-owned lots along Evans Avenue in the Vandeventer neighborhood of north St. Louis, where the majority of the homes will be sold to low-income households earning 80% AMI or below.

Habitat Saint Louis will serve as the master developer, working with local emerging developers, including a modular housing developer, to bring the homes to completion. The development will feature five home designs ranging from approximately 1,400 to 1,800 square feet, with both one- and two-story options.

By transforming vacant and underutilized properties into high-quality homes for local families, the development will create new opportunities for neighborhood investment, stability, and long-term community growth.

About Habitat for Humanity St. Louis

Founded in 1986, Habitat for Humanity St. Louis is a nonprofit, ecumenical housing ministry dedicated to eliminating substandard housing and expanding affordable homeownership opportunities. Over the past four decades, the organization has built and rehabilitated more than 450 homes, serving more than 1,700 individuals throughout the St. Louis region.

The Vandeventer development aligns with Habitat Saint Louis’ longstanding mission of creating sustainable communities through quality housing. The organization’s developments have helped increase neighborhood stability, expand local tax bases, encourage consumer investment, and foster civic engagement across the region. In addition to community impacts, homeownership strengthens household economic well-being by building generational wealth through equity and property appreciation, providing financial stability and access to capital for investments and emergencies.