Draper and Kramer Announces St. Louis Property Completion
Gershman Mortgage originated a $44.4 million HUD loan for the project’s construction.
Moda at the Hill. Image Courtesy of Draper and Kramer Inc.
Draper and Kramer Inc. has announced the completion of Moda at the Hill, a 225-unit rental community in St. Louis, Mo. Gershman Mortgage provided a $44.4 million HUD loan for the development in August 2021, according to Yardi Matrix data.
Moda at the Hill is located at 2100 Boardman St., in one of the city’s historic neighborhoods. The community is close to S. Kingshighway Blvd. and within 1.2 miles from Interstate 44. St. Louis Children’s Hospital and SSM Health St. Mary’s Hospital are also in close proximity. Nearby attractions include Missouri Botanical Garden, Tower Grove Park, Saint Louis Zoo, Art Museum and Forest Park.
The community encompasses a four-story building with one- and two-bedroom units ranging from 572 square feet to 958 square feet. Common-area amenities include a fitness center and business center, a swimming pool, a spa, a yoga studio, a dog park and cabanas with grilling stations and fire pits. In-unit amenities comprise washers and dryers, digital locks, patios or terraces and stainless-steel appliances.
Moda at The Hill marks Draper and Kramer’s third multifamily development in metro St. Louis, following EVO Apartments and EVO Flats, which are both located in the suburb of Richmond Heights.
Earlier this year, the company arranged $114 million in HUD loans for the refinancing of an existing community and the development of a multifamily property in Chicago.
