Funded with a $75,000 grant from Civic Progress, the St. Louis Equity Fund was established in 1988 in response to the desire for a locally owned and controlled vehicle to syndicate low income and historic tax credits. Seeing this same need in the Kansas City area, the Kansas City Equity Fund was established in 2006. Although the Kansas City Equity Fund is overseen by the St. Louis Equity Fund, the money raised in Kansas City is invested in the Kansas City area. Since 1988, the combined Funds have raised $313 million which has been leveraged to develop 4,160 units of affordable housing.
In addtion to providing the equity necessary to develop this affordable housing, the St. Louis Equity Fund established Gateway Community Development Fund, Inc. in 2009 to help fill the need for non-traditional loan products and development consulting services in underserved areas throughout the state of Missouri and in Southern Illinois and Eastern Kansas. Gateway received Certification from the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) in 2011.
The Investors and staff of St. Louis Equity Fund, Kansas City Equity Fund, and Gateway understand that the need for safe, affordable housing is more important than ever. They continue to work collaboratively to provide a wide array of services to their partners in the communities they serve.