New apartments coming to Country Club Plaza with Port KC incentives

Port KC has approved $41.9 million in incentives for two projects totaling $353 million, bringing 600 new apartments to the Country Club Plaza area. The projects include The Madison, a 279-unit tower by Block Real Estate Services, and the Plaza Corporate Centre offices, a mixed-use development, by Block and Sunflower Development Group.

Port KC recently greenlit $362 million in conduit bond issues to support the construction of The Madison, a 17-story tower featuring 279 units located south of 46th Street. Additionally, Block and Sunflower Development Group plan to convert the Plaza Corporate Centre into 119 residential units and construct an additional 202 units nearby.

These developments aim to provide a mix of one-, two-, and three-bedroom units at market rates. Incentives include a 25-year property tax exemption and sales tax exemptions on construction materials. The projects are expected to generate approximately $32.8 million in taxes over their exemption period and will contribute $2 million to Kansas City’s Housing Trust Fund, supporting affordable housing initiatives.

Read the full article at Kansas City Business Journal