EDCKC’s LCRA has approved five projects for financial support, paving the way for new economic opportunity.
The Economic Development Corporation of Kansas City (EDCKC) is proud to announce that the urban landscape of Kansas City is set to undergo a significant transformation as five dynamic urban renewal projects in different areas of the city receive approval for tax abatement.
EDCKC’s Land Clearance for Redevelopment Authority (LCRA) has served as the City’s urban renewal agency since 1951. Authorized by Missouri state statutes, the LCRA encourages redevelopment through the removal of blight and blighting conditions within designated Urban Renewal Areas (URA) and has leveraged millions of dollars of investment in Kansas City, Missouri. The LCRA board of commissioners recently approved financial support for five promising efforts.
“Each of these projects will enhance and further the efforts and economic growth of the communities and neighborhoods they are in,” said Dan Moye, EDCKC’s Vice President of Land Development. “We’re thrilled to see the future impact each of these efforts will have, from job creation to new housing opportunities.”
Spearheaded by committed developers and bolstered by community support, including local taxing jurisdictions, these projects promise to breathe new life into neglected spaces, foster economic growth, and enhance the overall vibrancy of the city.
Each project is required to meet LCRA’s MBE/WBE participation goals and adhere to an established reporting process as part of the tax abatement approval.
Creating Pathways to Prosperity: The Projects
Transforming the former Marlborough Elementary School
In the heart of the East Kansas City Urban Renewal Area, the Kansas City Community Land Trust (KCCLT) is leading the charge with a $6.3 million endeavor to renovate the former Marlborough Elementary School. This multi-phase project aims to repurpose the three-story building into a versatile space for commercial and community use, providing much-needed support for local entrepreneurs and organizations.
Film Studio Incubator: 4451 Troost Avenue
Meanwhile, the Troost Paseo Urban Renewal Area is poised for revitalization with Rockhill Studios, LLC’s $850,000 investment in the renovation of a vacant commercial building. Set to become film studio incubator spaces, this project will cater to Kansas City’s burgeoning film industry, offering essential services and equipment to filmmakers while injecting new energy into the neighborhood.
Revitalized Office Building: 3645 Troost Avenue
Located on the northeastern corner of E. 37th Street & Troost Avenue, an aging commercial office building stands largely vacant, awaiting transformation. With a budget of $735,000, the project spearheaded by 36 Troost, LLC, with affiliations to property owner Mila Geisler, involves acquiring and renovating the structure into 2-3 apartments and two ground-floor commercial spaces.
Historic Building Gets New Life: 929 Walnut Street
In the heart of the Central Business District, Exact 929, LLC is embarking on an $11.1 million historic rehabilitation project at 929 Walnut Street. Once an eight-story commercial building, this landmark structure will soon be transformed into 57 apartments and ground-floor retail/restaurant space, preserving its architectural heritage while addressing the city’s housing needs. Additionally, the development team has committed to working with the Kansas City Public School District to provide a discount to District employees.
St. Michael’s Veterans Center: Phase 3
Located at 5100 Leeds Trafficway, St. Michael’s Veterans Center (SMVC) works to end homelessness among veterans in Kansas City. 58 apartment homes were opened in 2014, 59 homes opened in 2016, and this third phase of the SMVC campus plan includes adding 62 more units of affordable housing for veterans supported by an allocation from the Missouri Housing Development Commission (MHDC) and tax abatement from the LCRA.
Each project embodies a commitment to revitalizing neglected spaces, fostering economic opportunity, and promoting community development. With support from all parties involved and alignment with the city’s urban renewal plans, these initiatives herald a new era of growth and prosperity for Kansas City.