The Old Post Office historic district of downtown St. Louis is the site of revitalization projects, including the Syndicate Building considered a key, cornerstone; historic building that was in a state of advance deterioration. In fact, the condition of the building and potential threat it posed for the future of the surrounding buildings caused the City’s Land Clearance for Redevelopment Authority to purchase the property in 2002.
Turning this problem into a revitalization opportunity the CDE, Valued Advisor Fund (VAF) provided a 1 percent NMTC loan of $2.19 million in partnership with local CDFI, the Central Bank of Kansas City for the market rate units and commercial space portion of this ambitious project.