In order to maximize effectiveness, CWF has targeted a specific area known as the Kingsway District which is comprised of two historic neighborhoods:  Fountain Park and Lewis Place.

 

The Kingsway District encompasses approximately a 207.8-acre area bounded on the south by the alley south of Delmar Boulevard; on the west by Kingshighway Boulevard; on the north by Page Avenue; and on the east by Taylor Avenue.  This area represents a multi-phase development, consisting of the construction of a commercial complex, rehab of selected properties and the construction of new For-Sale housing.

 

The U.S. Census tract data clearly shows a low income area containing a 98.92% minority population. Of the 1,450 homes within the district there are only 434 owner occupied units, 638 rentals and the remaining 378 vacant. With greater than three-fourths of the neighborhood being either rentals or vacancies, it signals this area is suffering from a wide array of urban problems from physical deterioration of buildings and the environment, to health, social and economic problems. Thus the Kingsway District has already been declared a “blighted” area through the approved blighting ordinance #70587.

 

In 2015, the median value of owner-occupied homes in Lewis Place and Fountain Park was $64,585 according to the 2015 5yr ACS. This was significantly lower than the overall median value of owner occupied homes in the City at $120,400 and the St. Louis Metropolitan Surrounding Area at $157,100. 

 

From 2009 to 2012, housing sales were very low in these neighborhoods as the national and local economies were climbing out of the recession in the global financial crisis of 2008.  In recent years, the pace of housing sales has nearly returned to pre-recession levels. However, average sales prices remain far below their pre-recession peaks. We believe that with the growth of our nearest neighbor (CWE) that our efforts have the potential to not only grow home ownership but stabilize its value particularly in Fountain Park where there is tremendous interest in housing by incoming Millennials working and attending schools nearby.

 

We currently have over 15 active projects within our development area that have been created as a result of the Kingsway Development Plan. These projects were the result of planning dollars allocated in response to the combined technical surveying and community polling that has been done over the past five years. These projects include a $10m micro-unit apartment building, $5m co-working space, $15m urgent care facility and a $5m residential home investment in the neighborhood of Fountain Park located in the heart of the area.

 

We are proudly supported by The Kingsway Merchants Association, Park Central Development, The Fountain Park Neighborhood, Lewis Place and Sherman-Academy Neighborhood Organizations.