Ground is to be broken Tuesday on a new $72 million apartment and retail project on Kansas City’s riverfront.
Partners Port KC and Flaherty & Collins Properties will kick off development of 410 luxury apartments, 12,400 square feet of retail space, and a parking garage at 1298 E. Riverfront Road.
The development, named Union | Berkley Riverfront Park, will overlook the Missouri River just northeast of downtown and the River Market. It will be the first mixed-used project in the park.
“Our partnership, from day one, has been focused on fulfilling the vision of creating a vibrant new community along our waterfront,” said Michael Collins, CEO of Port KC, the Port Authority of Kansas City, which owns 55 acres of the riverfront property.
Port KC is leasing the tax-exempt land to the developer after investing more than $5 million in infrastructure improvements on the site which formerly housed the city’s tow lot and dumping grounds.
The Union | Berkley Riverfront Park plat covers about 20 acres bounded by East Riverfront Drive on the north, Front Street on the west, Interstates 29 and 35 on the east, and railroad tracks on the south.
Ryan Cronk, vice president of development for Flaherty & Collins, predicted that the project will be “transformative” for the area.
The residential project will include a bar/coffee shop, fitness center with yoga and cycling studios, a year-round saltwater pool, hot tub, and outdoor living rooms with fire pits, a bike shop and game rooms. It also will feature a “bark park” with special features for pets.
The development team said the apartments will have high-quality finishes, lighting and appliances, energy-efficient windows, Energy Star-rated washers and dryers and Nest thermostats.
Construction is expected to take 18 months, with move-in scheduled for mid 2018.
The mixed-use development was first publicized in mid 2014 after at least two other attempts to revitalize the site failed to reach fruition.
Flaherty & Collins, known for multi-family developments in Indianapolis, Minneapolis and Chicago, entered the Kansas City market with an apartment and retail project in Gladstone, The Heights at Linden Square. The company also is working on a development in Kansas City’s West Bottoms.