ST. LOUIS: A plan for a St. Louis agency to buy four-family flats in the Shaw neighborhood and then sell them to future owner-occupants has been approved by a city commission.
The city Community Development Commission approved the idea in its meeting Tuesday. Another agency, the Land Reutilization Authority, would use $200,000 to buy and sell about 15 buildings over 18 months.
The money is part of St. Louis Union Station’s repayment of a special federal grant that was part of its original financing. The Land Reutilization Authority would use the money to buy the buildings and then recover the investment through the sales.
The Land Reutilization Authority has done similar work in other neighborhoods since 1983. Agency officials call it successful because owners who live in one apartment and rent the other three usually maintain their properties better than do owners who live elsewhere.
Shaw Archives 