Kansas City developers seek incentives for Plaza apartment projects

Kansas City developers are planning to build 600 high-end apartments near the Country Club Plaza with a combined investment of $353 million. The projects include The Madison, a 279-unit luxury tower by Block Real Estate Services, and a mixed-use development by Block and Sunflower Development Group featuring 119 market-rate apartments and 202 additional units.

Port KC’s development committee has recommended 25-year property tax exemptions and sales tax exemptions on construction materials for The Madison and the Plaza Corporate Centre projects. These initiatives aim to leverage the Plaza’s impending sale to HP Village Partners LP and anticipated public and private investments.

The developments are expected to generate significant tax revenues and contribute $2 million to Kansas City’s Housing Trust Fund, supporting affordable housing initiatives in the area.

Read the full article at Kansas City Business Journal