This article originally published in the St. Louis Business Journal
By PNC Dec 18, 2025
“What happens to some of us impacts all of us” is a refrain that is never far from Chris Krehmeyer’s mind as he leads Beyond Housing’s comprehensive efforts to revitalize North St. Louis County’s 24:1 Community, an area within the Normandy school district containing the metro area’s highest concentration of poverty.
As the nonprofit organization’s longtime CEO explains, supporting St. Louis’ most under-resourced areas not only helps break the cycle of poverty in those communities, it creates a stronger St. Louis overall. “A region is only as strong as all of its communities,” says Krehmeyer. “In order for the Greater St. Louis region to succeed and be competitive in the future, we must invest in under-resourced communities, including neighborhoods in North St. Louis County.”
For local business leaders, including Matt Corcoran, PNC regional president for St. Louis, this premise also speaks to the business case for investing in underserved areas – and the multi-stakeholder collaboration that is necessary to create meaningful impact.
“When our communities thrive, our local economy and businesses also thrive,” says Corcoran. “That’s why PNC is committed to bringing economic vibrancy to the communities we serve, collaborating with multiple stakeholders to maximize our impact and ultimately create opportunities for economic empowerment.”
Beyond Housing is among the stakeholders with which PNC collaborates to deliver on opportunities in North St. Louis County to improve access to affordable housing while driving neighborhood revitalization and economic development.
A $300,000 grant from the PNC Foundation, for example, helped support the2025 completion of Beyond Housing’s Pagedale Town Center Homes, a development of single-family homes and townhomes offering families a stable and attractive place to live while supporting the broader revitalization of Pagedale’s commercial corridor.
A coordinated approach to housing, workforce advancement and transit
In recent decades, the section of North St. Louis County emanating from the intersection of I‐70 and North Hanley Road has experienced robust economic growth, with nearby employment hubs adding thousands of new jobs to the region’s economy.
And while this growth has fueled meaningful economic development for the larger region, those who call this neighborhood home have continued to experience lower incomes, higher rates of unemployment and underemployment, and less favorable housing conditions when compared to the rest of St. Louis County.
Employment Connection of St. Louis and Bywater Development Group are actively working to address these discrepancies through the development of University Crossing, a transformative, transit-oriented mixed-use development located at the North Hanley Transit Center.
In October 2025, PNC’s Corcoran joined Bywater Development Group and Employment Connection to break ground on University Crossing. When completed in 2026, the development will offer 60 new mixed-income residential units designed to meet the needs of the local workforce. And with regional transit just steps away, residents will have convenient access to jobs in employment centers throughout Greater St. Louis.
“Transit-oriented development is vitally important to the St. Louis region, and with University Crossing, we see an optimal model for delivering high-quality, mixed-income housing for the community’s workforce,” says Aaron Burnett, president of Bywater Development Group. “When paired with direct access to transit and employment-related services, this development can truly enhance lives and strengthen the surrounding community.”
In addition to high-quality, affordable housing, the development will feature commercial space for an Employment Connection satellite office, strategically positioned to expand workforce development and employment services for residents across North St. Louis County.
“We understand the importance of creating an intersection between public transportation, quality housing and employment,” says Sal Martinez, chief executive officer of Employment Connection. “We are truly excited to be a part of the University Crossing development team, as it will allow us to intensify our wraparound services for St. Louis County residents who can benefit from our programs.”
Through PNC Multifamily Capital, a PNC Real Estate business, PNC Bank is contributing more than $10 million in Low Income Housing Tax Credit equity and more than $11 million in bridge financing to help make University Crossing a reality.
“I believe this development brings together several qualities that make St. Louis such an exciting place for business: an elevated focus on community revitalization, a profound commitment to workforce development, and the multi-stakeholder collaboration that is needed to execute tangible strategies and solutions,” says Corcoran. “It is my sincere hope that University Crossing will catalyze future efforts to improve access to affordable housing and employment resources throughout our region.”
For more information, visit www.pnc.com.
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