News & Events

Approximately 70 acres of surplus land at Resurrection Cemetery will become site of community-friendly residential development and wildlife enhancement efforts

During an informational meeting last night at Affton High School, McKelvey Homes shared further details regarding its plans to create a premier residential community on the surplus land of Resurrection Cemetery. Jim Brennan, President of McKelvey Homes, conducted the informational meeting to present preliminary development plans to the neighbors and the surrounding community, gather feedback and address any questions or concerns about the project before submitting it to St. Louis County Planning and Zoning Commission and the St. Louis County Council for their consideration.

“Our plan is to make efforts to preserve the natural beauty of the site while creating the best residential community in Affton,” said Brennan.

The new community, named The Preserve, will include the preservation of a significant amount of existing trees and extensive common ground—encompassing more than 20 acres—to maintain the natural beauty of the site.  The community will have trails, pocket parks, and two stocked lakes. McKelvey Homes has consulted with many agencies on strategies for enhancing the butterfly, bee and bird populations on the property.  The builders plan to erect both a bird sanctuary and bee pollination area to protect and enhance the current wildlife in the proposed community.

“Catholic Cemeteries of the Archdiocese of St. Louis has a proven history of working with the Missouri Department of Conservation on efforts to protect and enhance the wildlife habitat throughout the metropolitan area,” said Brennan. “McKelvey Homes is pleased to report that Catholic Cemeteries is pursuing the creation of a nature preserve area, adjacent to The Preserve, consisting of an additional 23 acres of wooded area bordering Shrewsbury Creek.”

Designed for 190 homesites, The Preserve offers new homebuyers a chance to build in one of four distinct villages: the Estates, the Manors, the Glen, and the Villas. Brennan is proud to announce that Payne Family Homes will join McKelvey Homes as builder in one of the villages. Each village will offer a separate series of homes, which will provide a wide variety of affordable quality home styles and sizes to appeal to a broad segment of the housing market. McKelvey and Payne take pride in their ingenuity and creativity to bring the best there is to offer, featuring dozens of options from villas to luxury homes, at an affordable price.

With an estimated completed value of $80 million, this addition to the Affton community will create numerous jobs for the construction industry and generate approximately $1.3 million in additional tax revenue to the county—including the school and fire districts–per year.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase 

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4.8%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase in 2019.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.