St. Louis Mayor Francis Slay announced a new program today that’s geared toward building low-income housing near MetroLink stations and MetroBus stops.
The city will use $1 million from the Affordable Housing Trust Fund to spur development around public transit.
St. Louis Mayor Francis Slay said easing transportation costs can help low-income residents move up the income ladder, giving them affordable access to things like jobs and education.
Big picture, he said the idea falls under the city’s Sustainability Plan.
“The more that we can, as a community, offer lifestyles to people of all income levels that is not dependent on a car, the stronger our city, our region will be,” Slay said.
Slay also indicated that he’d like to see the money prompt investments from other sources, both public and private.
President of Metro Transit, John Nations, said even though today’s funding announcement focuses on low-income housing, he hopes it can serve as a model for encouraging similar development near mass transit.
“It’s interesting to look up and down the MetroLink alignment,” Nations said. “Look at Washington Ave., the renewed, and frankly good for the region, interest in downtown St. Louis around the alignment. So, these are all very good things for the future of our region.”
To get access to the funding, developers will be able to submit plans to the Affordable Housing Trust Fund in a competitive bid process. City officials plan to announce early next year what projects will receive the funding assistance.
Follow Tim Lloyd on Twitter: @TimSLloyd
