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Jun
2013
6

St. Louis Building Trades Unions Put $600,000 Toward Home Buyer Incentive Program, Job Creation

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St. Louis area unions are continuing to come up with creative ideas to get their members work.  This time, nine area unions have created a fund that will provide incentives for potential home buyers to spur purchases and, in turn, create jobs.

The unions have placed $600,000 into a stimulus fund that will provide $2,000 to $10,000 in cash to residential home buyers at closing.  The program is called Neighborhoods Built by Your Neighbors and will give an average of $5,000 to home buyers purchasing houses constructed by the St. Louis Union Homebuilding Partnership.

Members of this group include:

Bridgewater Communities, Centex Homes, Consort Homes, Fischer & Frichtel, McBride & Son Homes, McKelvey Homes, Payne Family Homes and Pulte Homes.  

Payne Family Homes President Ken Kruse said the program represents unions “putting their money where there mouth is when it comes to stimulating the economy.” The program is similar to a successful campaign launched last year in which unions contributed $1 million to stimulate the market.  

The newly launched campaign will last for one month and include more housing companies than previous efforts.  It is a distant cousin to the Building Trades’ Housing Investment Trust (HIT) which directs significant union pension funds toward housing construction and job creation.

Unions involved in the Neighborhoods Built by Your Neighbors program include:

Carpenters District Council of Greater St. Louis, International Union of Painters & Allied Trades District 2, Plumbers & Pipefitters Local 562, International Brotherhood of Electrical Workers Local 1, Sheet Metal Workers Local 36, Greater St. Louis Construction Laborers, International Union of Bricklayers & Allied Craft workers, International Union of Operating Engineers Local 513 and Cement Mason’s Local 527.

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