Utilizing $18.3M total in NMTC funding, the St. Louis Habitat affiliate created 103 brand new homes on previously abandoned derelict properties. With three transactions closed between 2008 and 2011, 67 of these homes were built in the highly distressed Jeff VanderLou (JVL) neighborhood in St. Louis. The JVL development, located within blocks of the infamous Pruitt-Igoe public housing implosion, profoundly transformed the physical fabric of the neighborhood from vacant lots and blight to vibrant streetscapes and homes. Crime in the area dropped by more than half within two years of completion and sale, and the 67 new homes in the development nearly tripled the number of owner-occupied buildings in the community, increasing the proportion of owner-occupied structures from 12 percent to 26 percent. This development brought an influx of working families to the community which had less than 50 percent labor-force participation and only 34 percent of working-age individuals were employed. As a result of the increase in employed individuals, the demand for retail services increased, helping to stabilize a struggling local retail center through the addition of new tenants including a bank and City-operated Community Center for the residents. And, since these homes have been completed, St. Louis Community College built a satellite campus in the area.

The two NMTC transactions completed between 2012 and 2017 brought affordable homeownership opportunities to other distressed neighborhoods of both the City and County of St. Louis.  36 additional homes were built within 7 zip codes, designed to meet the needs of Habitat families while respecting the architectural integrity of each unique neighborhood.  This investment provides significant impact for these areas where unemployment ranges from 1.5 to 9.5X the national rate, with some experiencing median income hovering at 33% and poverty over 48%. Neighborhoods hosting Habitat homes experience increased stability, a growing tax base and consumer spending, and new levels of civic engagement.

Since 2008, all new Habitat homes were built to LEED platinum standards. In 2017, HFH St. Louis began participating in the DOE Zero Energy Ready Home National Program, which combines the standards of ENERGY STAR Homes with proven Building America innovations and best practices. The homes are verified by a qualified third-party and are 40% to 50% more energy efficient than a typical new home.

100% of the homes funded with NMTC financing were sold to individuals with an income at or below 80% of the median family income. In addition to the tax credit equity, this outcome is supported through affordable mortgage products and the sweat-equity program offered by HFH St. Louis.

Smith NMTC developed the New Markets Tax Credits model to support affordable homeownership while working with Habitat affiliates across the country. To ensure compliance with regulatory and tax requirements, Smith NTMC created reporting processes and forms and provided training and support to facilitate data collection and compliance monitoring and reporting  for all affordable housing developers and all other QALICBs it serves.