ST. LOUIS – Rise Community Development in partnership with the Southwestern Illinois Development Authority and the Village of East Alton will host a ribbon cutting and grand opening for the Emerald Ridge (formerly known as the “Defense Area”) development at 1:00 pm on April 20, 2015 at the Keasler Recreation Center, 615 3rd Street, East Alton, Il, 62024. The $15.9 million revitalization broke ground on Feb. 10, 2014.
Replacing 91 obsolete apartments, the redevelopment consists of 46 new single-family homes, with the majority of the homes occupied by existing neighborhood residents.
“We’re pleased with the outcome of this development,” said Stephen Acree, President of Rise. “Emerald Ridge will help to strengthen this community and provide a better quality of life for the residents.”
Residents are enjoying reduced utility bills through energy efficient design and construction, including increased insulation, ENERGY STAR appliances, reflective roofing and high-efficiency systems.
The new single-family homes are affordable to families earning 60 percent of the Area Median Income, which includes nearly two-thirds of the residents of East Alton.
Rise (www.risestl.org/) is a nonprofit community development organization that connects key public, private and nonprofit partners to revitalize communities and neighborhoods in the St. Louis area. Rise develops affordable and market-rate housing, particularly in neighborhoods with the potential to enhance economic diversity. Rise has assisted in the development of over 4,800 homes, bringing $665 million in redevelopment to area neighborhoods.