Development

Hundreds of new apartments planned near KC Streetcar line score tax breaks. What we know

An aerial view of construction along the Kansas City Streetcar’s southern extension is seen near the intersection of Main Street and Westport Road on Dec. 13, 2023. Major construction for the extension is expected to wrap up by the end of 2024.
An aerial view of construction along the Kansas City Streetcar’s southern extension is seen near the intersection of Main Street and Westport Road on Dec. 13, 2023. Major construction for the extension is expected to wrap up by the end of 2024. courtesy KC Streetcar Authority

Hundreds of new apartments that could be ready in 2027 are planned up and down the Kansas City Streetcar corridor and slated to get tax breaks from the Port Authority of Kansas City.

Port KC’s board, appointed by the mayor, approved moving forward with bonds to help finance three separate apartment projects on Monday: one in the historic Aladdin Hotel downtown, and two on currently underutilized property.

Together, the three projects would add over 400 – mostly market-rate – units to Kansas City’s housing stock, all expected to be within walking distance of the Main Street streetcar line.

Aladdin Hotel in downtown Kansas City

The Port KC board approved moving to issue up to $39 million in bonds for the proposed conversion of the Aladdin Hotel, 1215 Wyandotte St., into a high-rise apartment building with 122 units.

The 16-story hotel was built in 1925, with an ornate stone facade and maroon brick, and was once the tallest building in Kansas City, according to Port KC.
The 16-story hotel was built in 1925, with an ornate stone facade and maroon brick, and was once the tallest building in Kansas City, according to Port KC. Port KC

The 16-story hotel was built in 1925, with an ornate stone facade and maroon brick, and was once the tallest building in Kansas City, according to Port KC. The building is connected to the convention center through an underground walkway and is across the street from Barney Allis Plaza.

Molzer Development’s proposal calls for 107 one-bedroom units, 14 studios and one two-bedroom. There would be 14 affordable units with a maximum rent of $1,083.

The Aladdin is listed on the National Register of Historic Places. Construction could begin in 2025 and be completed in 2027.

Port KC could offer up to $6.086 million in property tax exemptions over 25 years.

The Aladdin Hotel, last under the Holiday Inn banner, closed in 2020 during the COVID-19 pandemic.

The proposed conversion calls for 107 one-bedroom units, 14 studios and one two-bedroom.
The proposed conversion calls for 107 one-bedroom units, 14 studios and one two-bedroom. Port KC

Hundreds of apartments replacing Martini Corner parking lots

The Port KC board also approved moving to issue bonds up to $70 million for the proposed Streetcar Lofts project, off East 31st Street between Main Street and De Groff Way.

Five, five-story buildings would replace what are now parking lots and vacant land on a strip along 31st Street, across the street from the KCTV tower. There would be 240 units: 55 studios, 135 one-bedrooms and 50 two-bedrooms.

The developer, Sunflower Development Group, has worked on several multi-family housing projects across the Kansas City metro, including The Grand, Brookside Commons, Converge KC, Amethyst Place and the Oxbow.

Five, five-story buildings would replace what are now parking lots and vacant land on a strip along 31st Street, across the street from the KCTV tower.
Five, five-story buildings would replace what are now parking lots and vacant land on a strip along 31st Street, across the street from the KCTV tower. Port KC

Port KC could offer up to $9.37 million in property tax exemptions over 20 years. The developer would contribute $750,000 to the Kansas City Housing Trust Fund, which Port KC estimates could help create 55 units of affordable housing.

Construction on the Streetcar Lofts could begin in 2025 and be completed in 2027.

Five, five-story buildings would replace what are now parking lots and vacant land on a strip along 31st Street, across the street from the KCTV tower.
Five, five-story buildings would replace what are now parking lots and vacant land on a strip along 31st Street, across the street from the KCTV tower. Port KC

More apartments coming to River Market

The Port KC board approved issuing up to $25 million in bonds for a new apartment building off Broadway in River Market.

The seven-story 303 Broadway Apartments, replacing a dilapidated warehouse building, are expected to have 59 units off the corner of 4th Street and Broadway Avenue.

The seven-story 303 Broadway Apartments are expected to have 59 units off the corner of 4th Street and Broadway Avenue.
The seven-story 303 Broadway Apartments are expected to have 59 units off the corner of 4th Street and Broadway Avenue. Port KC

Developers George Birt and Taylor McKee have worked on other multi-family projects that include the RMwest Apartments, Old Townley Lofts, Riverbend Lofts, West Seventh Street Lofts, Bridgeworks Lofts and 4646 Broadway.

Port KC agreed to exempt sales taxes for construction materials.

Construction on the 303 Broadway Apartments could begin in 2025 and be completed in 2027.

CH
Chris Higgins
The Kansas City Star
515-423-5146
Chris Higgins writes about development for the Kansas City Star. He graduated from the University of Iowa and joins the Star after working at newspapers in Beaver Dam, Wisconsin and Des Moines, Iowa. 
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