"The STL Partnership was the bridge to provide funding to us to complete our project."
The STL Partnership Business Finance Team worked with Cornerstone Constructors, LLC in receiving a Community Development Block Grant (CDBG) for the development of a community center called The Hub. Cornerstone Constructors, LLC is a renovation services business that is overseeing the buildout and facilities management of The Hub. This community center is providing a safe space for residents in the Jeff-Vander-Lou, The Ville, and Greater Ville neighborhoods. The Hub connects with resources to aid in the overall stabilization and healthy development of local families.
The business is owned by the non-profit Tabernacle Community Development Corporation, which was established in 2014 for the purpose of revitalizing the previously mentioned areas. The funds went to working capital and equipment for the business. The loan was made through The St. Louis Local Development Company, which is housed under the St. Louis Development Corporation.
Pastor Andre Alexander and the nonprofit run by his church, Tabernacle Community Development Corp., spent over one year and over $1 million to transform the former Farragut Branch Elementary School building into The Hub. The center was open to the public in December, 2021.
Alexander said working with the STL Partnership’s Business Finance Team was easy and that the team made the process smooth.
“It was great – you guys helped us out on a unique situation,” Alexander said. “Linda Behrmann (Assistant Vice President of the Business Finance Team) and Zack Folk (STL Partnership Business Development Officer), went to bat for us with all due diligence.”
Alexander is happy to see The Hub being heavily utilized in the community.
“It’s exciting to see the building come to fruition and being used,” Alexander said. “In addition to putting a vacant space back into usage, we’re providing some key services. The uniqueness of The Hub comes from the blend of partnerships; blended faith backgrounds with businesses and healthcare. There’s nothing like this in North City.”