TWG, a national real estate development company specializing in commercial, market rate, affordable and senior housing developments, has begun construction of Reserve at Spencer, a $42.9 million affordable, multifamily community in St. Peters, Missouri.
This community marks TWG’s third low-income housing tax credit (LIHTC) project in the state of Missouri.
Located at 4000 Ryleigh Reserve Lane, Reserve at Spencer will be a 192-unit, four-story property featuring one-, two- and three-bedroom layouts. Reserve at Spencer is set to be a fully affordable community with units reserved for households making less than 60% of the area median income.
Amenities include a community lounge/clubhouse, community kitchenette, playground, dog park, co-working and meeting rooms, fitness center, mail and package security rooms, in-unit washer and dryer, in-unit dishwasher and more.
Reserve at Spencer was made possible with the support from key partners including CREA, LLC, Merchants Bank, UMB Bank, and the Missouri Housing Development Commission. Bond financing was also provided by the Industrial Revenue Authority (IDA) of St. Charles County. Construction for Reserve at Spencer is currently underway, and the community is expected to be completed in late 2024.
