A status report on West End Townhouses, Inc. on April 23 revealed that Washington University has pledged itself to guarantee $100,000 worth of loans for the local corporation.
West End Townhouses was formed by the late Philip Lucier to buy, renovate, rent or sell local properties on a limited partnership basis. After Mr. Lucier’s death, Continental Telephone, which had originally financed the corporation, gave the stock to St. Roch’s Parish. Mr. John Fox, chairman, gave a financial report to the people of St. Roch’s at their semi-annual assembly and mentioned that like all other urban real estate projects, West End Townhouses had had little success in obtaining conventional financing.
The generous guarantee by the trustees of Washington University, and their further pledge to underwrite another $100,000 worth of credit on a matching basis, should be a much needed boost to the work of keeping local residential properties in attractive condition. The officiers of West End Townhouses are currently negotiating for funds to match the Washington University offer.
Originally published in The Paper, May 1972.
Read this article in the original newspaper issue.
Original source: SD_Times1972_05.pdf, printed page 1.
