At least four apartment complexes, which would add more than 500 residential units, are proposed in the vicinity of 80th Street and Metcalf Avenue in Overland Park.
All four are involved in tax increment financing deals or requests, and three of them are expected to be discussed Monday evening by the City Council’s Finance, Administration and Economic Development Committee.
The newest plan, proposed by Hunt Midwest Enterprises, is for 216 market-rate apartments and a public-access parking garage at 80th and Marty streets.
The $39 million multi-use plan, which includes retail space, seeks $6.7 million in TIF money and $460,000 from a tax surcharge by creating a community improvement district. Developers are proposing demolition of two buildings south of the Rio Theatre to accommodate the redevelopment.
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Two smaller projects seeking TIF approvals also propose apartment and retail or office mixes. The Market Lofts, an $8.9 million project at 80th and Marty streets, intends to provide 36 apartment units. The InterUrban Lofts, a $9.3 million project at 79th and Conser streets, calls for 41 apartment units.
The three newer apartment proposals are coming on the heels of Avenue 80, a $40 million apartment, retail and office project at 80th and Metcalf that won TIF incentives last year. EPC Real Estate Group expects to being construction on 218 apartments.