Unions put up $1 million for incentives to new homebuyers in April

$2,000 to $10,000 cash for Missouri buyers

In an effort to provide quality, affordable housing for potential St. Louis homebuyers, seven construction unions and six major Missouri homebuilders have launched their fifth program that will provide $1 million in cash incentives ranging from $2000 to $10,000 for new home buyers during April.

The program, Neighborhoods Built by Your Neighbors, is the third one created here in St. Louis. Similar programs in 2011 and 2012 were highly successful.

The goal: To put union construction workers back to work building homes and provide a great deal for consumers, said John F. Eilermann Jr., chairman and CEO of McBride & Son Companies.

The program: Provides cash to buyers for use at closing any way they want – to pay down their loan, finish a basement or lower an interest rate. The decision is purely up to the homebuyer. Cash amounts are based on the sales price of the home. Program will be on a first-come, first-served basis until the incentive cash runs out.

The program is limited to participating builder’s communities in Missouri only and only for the month of April. Builders will provide an extra $100,000 in marketing funds over an above what they are currently doing to promote the campaign.

7 UNIONS INVOLVED

Unions participating include Plumbers & Pipefitters Local 562, IBEW Local 1, Sheet Metal Workers Local 36, Greater St. Louis Construction Laborers, Cement Mason’s Local 527, Painters & Allied Trades District Council 2 and the Carpenters’ District Council.

Participating homebuilders are Bridgewater Communities, Fischer & Frichtel, McBride & Son Homes, McKelvey Homes, Payne Family Homes and Simon Homes.

“This program is a testament to the relationship between St. Louis’ leading home builders and its union trade partners,” Eilermann said, “And most importantly it’s the best way to kick off the 2014 selling season.”

‘AMAZING DEAL’

  “It’s really an amazing deal for buyers,” stated Jim Brennan, owner of McKelvey Homes. “It’s real cash for use at closing and it’s in addition to the builder’s best deal.”

“Our local unions are truly putting their money where there mouth is when it comes to keeping people working,” added Ken Kruse, president of Payne Family Homes.

The amount to be invested by each union is based on the amount of hours each trade has in a new home. Monies will come from their market recovery programs, special promotion programs or local funds.

“It is a great testament to the ‘can do’ spirit in St. Louis homebuilding. We are excited to be a part of it,” added Barry Simon of Simon Homes.

For more details, go to STLunionhomebuilders.com.