Midwest BankCentre gives land for senior housing near Bevo Mill

Midwest BankCentre gives land for senior housing near Bevo Mill

BEVO MILL – Midwest BankCentre is donating 1.9 acres of land for senior housing near the iconic Bevo Mill. The development, called Crossroads Senior Living at Bevo Mill, will have 53 low-income apartments in a new V-shaped, four-story building.

The development’s name comes from the area’s convergence of five streets, most prominently Gravois Avenue and Morganford Road. There will also be space for a local small business or a community resource center.

Midwest BankCentre is giving the land at its current location, 4914 Gravois Avenue, to the Tower Grove Neighborhood Community Development Corp. The group has been working for three years to increase the area’s housing options for older adults. The bank is moving across the street to a building under renovation at 5017 Gravois Avenue; the current branch will close on Saturday, and the new branch will open on Nov. 23.

“Midwest BankCentre is the star of the show,” Sean Spencer, executive director of the TGNCDC, said in a statement. “By giving us a full city block, the bank removed substantial land costs from our plan. Lowering our costs made our proposal more competitive for the limited funding assistance available for such projects.”

The Tower Grove Neighborhoods Community Development Corp. is a consolidation of Grand Oak Hill Community Corp., Southwest Garden Housing Corp. and Shaw Neighborhood Housing Corp.

 

 

Photo Cutline: Midwest BankCentre’s donation of a 1.9-acre site in the 4900 block of Gravois Avenue, valued at $1.63 million, has enhanced the affordability of the $10 million, four-story Crossroads Senior Living at Bevo Mill, now in the planning stages by Tower Grove Neighborhoods Community Development Corp. Designed by Rosemann & Associates, PC, It will feature 53 affordable apartments for residents aged 62 years and older.

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