ST. LOUIS — An entity tied to the Archdiocese of St. Louis got $11.9 million from a sale of South County land now being developed into residential housing, records show.
A purchase price for the 70-acre property, at 6901 Mackenzie Road, an unincorporated area that's in the Affton School District, wasn't previously disclosed. The Archdiocese declined to comment on the sale to Preserve Development LLC.
Chesterfield-based McKelvey Homes and Erlanger, Kentucky-based Fischer Homes in June held a groundbreaking for the 188-home project, called The Preserve, which they said involved an investment of more than $100 million.
The Preserve’s blueprint calls for the two homebuilders to develop four clusters of homes within the 70 acres, which previously was surplus land at the adjacent Resurrection Cemetery.
McKelvey will develop the project’s Estates, Glen and Villas "villages." Fischer Homes will build the section called Manors. Fischer Homes entered the St. Louis market last spring with its acquisition of Payne Family Homes, which was the region’s second-largest homebuilder.
The Villas and Glen homesites have been graded, sanitary and storm sewers are installed, and streets will be paved in coming weeks, said Jim Brennan, president of McKelvey Homes, which had 2020 revenue of $62 million.
The companies in November offered 24 homes in those sites for sale, all of which sold, he said. Homes in the Villas, with 47 sites, start in the upper $300,000s, Brennan said. The Glen includes 36 sites priced in the $400,000s.
The sites of the Estates, with 48 sites starting in the mid-$500,000s, and Manors are graded "and we anticipate completion of the sewers and streets by April." Pre-sales for those sites are scheduled to begin in the spring.
Click here for the full story.