https://www.bizjournals.com/kansascity/ ... 8#cxrecs_sThe unnamed development would encompass 1.43 acres, replacing an existing surface lot, Calvert's Express auto repair shop and a boarded-up retail structure.
A recent project application to the Economic Development Corp. of Kansas City does not include a development plan; design refinements are in progress, according to submitted materials.
Development team representatives did not immediately return requests for comment Tuesday afternoon.
The project joins at least 15 development applications filed with the EDC in the lead-up to the April 8 effective date for Kansas City's recent affordable housing set-aside ordinance, approved Jan. 28.
Monthly rent for the planned apartments is expected to range from $1,200 for studios, averaging 375 square feet, to $3,500 for penthouse units, around 1,300 square feet.
In the garage, 658 parking spaces would be reserved for residential users, with 172 spaces for commercial tenants.
Sky Real Estate and Cordish Cos. seek a property tax abatement and sales tax exemption on construction materials.
Those incentives are necessary to make the project "financially viable," representatives wrote in their EDC application. They cited costs associated with blight and environmental remediation, as well as in "developing solutions to incorporate residential units that work toward (Kansas City's) affordable housing objectives."
The developers anticipate a construction start in the third or fourth quarter of 2022, with project completion between the fourth quarter of 2025 and the second quarter of 2026.
Three of the four property parcels are owned by an entity, 1501 KCMO LLC, that shares an address with JE Dunn Construction, the project’s listed general contractor, according to Jackson County property records. The remaining parcel — the surface lot that once housed a historic Hannah Rubber Co. building — is owned by an entity affiliated with Sporting Kansas City
Issues concerning Downtown as described by the Downtown Council. River to 31st Street, I-35 to Bruce R. Watkins.
1 post • Page 1 of 1
- Western Auto Lofts
- Posts: 696
- Joined: Fri Feb 02, 2018 11:24 pm
- Location: King in the North(Land)