The Oggi Furniture building, vacant since its namesake furnishing company went out of business in 2007, may become an apartment building in Kansas City’s Garment District.
Developer Andy Homoly, along with Ted Murray of Colliers International, purchased the 25,000-square-foot building from an entity owned by developer Brad Nicholson. Homoly and Murray now have a plan to turn it into an apartment project.
The project comes with an estimated $5.7 million price tag.
Homoly’s proposal goes before the Land Clearance for Redevelopment Authority on Wednesday. That group’s staff recommends approval of a 10-year, 100 percent property tax abatement.
The Oggi Furniture building at 600 Central St., was home to Oggi Modern Furnishings until it went out of business in 2007. The building is listed on the historic register. Homoly said he is applying for state and federal historic tax credits to assist with the financing of the project.
The apartments, ranging from studio to two-bedroom dwellings, will be market-rate units and would add to downtown Kansas City’s stock of multifamily housing. Rent rates would range from $1,006 a month for a studio, between $1,059 to $1,246 for one-bedroom apartments and $1,995 to $2,195 for two-bedroom units.
Homoly plans to complete construction next year with occupancy starting as early as spring 2018.