Garcia Properties Selected to Renovate 4063 Castleman

 

With direction from the Shaw Neighborhood Housing Corporation Board and Alderman Conway, the SNHC has targeted the 4000 block of Castleman for improvement.  It was one of a few remaining blocks in Shaw in need of help based on the number of vacant properties.  Over the past 18 months, SNHC has facilitated the development of 4008 Castleman, 4020 Castleman, 4059 Castleman and has worked closely with the developer of 4041 Castleman.  4059 Castleman was completed in less than 6 months, sold for $231,000 after only 17 days on market. 

 

In an effort to continue the progress on the block,  SNHC worked to acquire the property located at 4063 Castleman from Frontenac Bank.  Frontenac Bank previously foreclosed on the property from Eighteen Investments.  The property had been sold multiple times over the past decade but no work was ever completed and the building continued to deteriorate.

Given their success with the “sister” property next door (4059 Castleman), proven track record and financial ability, Garcia Properties was selected to complete 4063 Castleman.  The project will be an approx 2100 sq. ft., 3 bedroom, 2 bath fully renovated home.  The historic tax credit application is underway and construction could start within months.  Garcia Properties is also completing 4012 Shenandoah in the Shaw Neighborhood.

SNHC is excited about the progress on the 4000 block on Castleman and we look forward to significantly and positively impacting the improvement of more properties throughout Shaw in the near future.

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About Shaw Neighborhood Housing Corporation

Shaw Neighborhood Housing Corporation is a not-for-profit organization that promotes responsible development, affordable housing and diverse character and vibrancy in the Shaw neighborhood located in St. Louis, MO. Through its local development and community progress expertise, the organization serves as a resource to developers, real estate agents, neighborhood residents and business owners.
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