Developer Kenneth Block’s company returned Tuesday to Kansas City’s City Plan Commission, seeking approval to add two more floors to a previously approved 13-story apartment tower at 47th Street and Madison Avenue.
Commissioners said yes to a taller, 15-story tower that would provide 288 residential units instead of the 245 approved five months ago. The amended development plan goes to the City Council for final approval.
The original project “didn’t work financially,” said Aaron Mesmer, a Block representative. “The costs were in excess of $300,000 a unit.”
Mesmer said it would be impossible to charge high enough rental rates to get an adequate return on investment unless two floors were added.
No public incentives have been requested for the project, which was introduced earlier this year as a $90 million development.
City planner Joe Rexwinkle said the amended plan fits within zoning regulations for unlimited height at that location. Height guidance in the Midtown Plaza Area Plan recommends a seven-story limit, but Rexwinkle said the zoning code takes precedence.
Garage parking spaces also will be added to accommodate more apartments, Mesmer said.
No one spoke against the height revision.
The Kansas City Council in January gave unanimous approval to the original proposal for the 47 Madison luxury apartment development on vacant ground between Madison and Roanoke Parkway, west of the Country Club Plaza.
In addition to the apartment tower, the development plan calls for a row of town homes along Roanoke.