TWG Underway on Development of $42.9M Affordable Housing Community in St. Peters, Missouri

ST. PETERS, MO. — TWG is developing Reserve at Spencer, a $42.9 million affordable housing community in the St. Louis suburb of St. Peters. The community marks TWG’s third Low-Income Housing Tax Credit project in the state of Missouri. Located at 4000 Ryleigh Reserve Lane, Reserve at Spencer will feature 192 units in a four-story property with one-, two- and three-bedroom layouts. All units will be reserved for residents who earn up to 60 percent of the area median income. Amenities will include a lounge, community kitchenette, playground, dog park, coworking rooms, a fitness center and mail room. Project funding comes from CREA LLC, Merchants Bank, UMB Bank and the Missouri Housing Development Commission. The Industrial Revenue Authority of St. Charles County provided bond financing. Construction is underway, with completion slated for late 2024.