Port KC approves $362M in bonds for Country Club Plaza apartment projects

Port KC approved $362 million in bonds on Monday in a deal with Block Real Estate Services and Sunflower Development to fund two projects that will bring 600 new apartments to the Country Club Plaza.

One of the projects, The Madison, is a 279-unit apartment building at the northwest corner of Madison Avenue and 47th Street, which received $212 million in bonds. The second project, Plaza Corporate Center, secured $150 million in bonds to revitalize the 1970s building at the same intersection, adding another building and rebuilding a parking garage in the 321-unit venture.

Both proposals include two- and three-bedroom apartments and will receive tax exemptions for 20 years, generating an additional $32.8 million in new tax revenues. The developers have agreed to donate $2 million to KCMO’s Affordable Housing Trust Fund, with construction expected to begin in 2025.

Read the full article at KSHB 41 Kansas City