Sunflower is proud to announce that we have started development on a new hotel property in Kansas City’s up-and-coming Beacon Hill neighborhood. Planning for this hotel has taken over two years, but our team could not be happier with the opportunity to bring a much-needed lodging option to this important corner of downtown.
The $16 million development is located at 24th and Troost. This location was attractive to our team due to its proximity to the Hospital Hill campus. We understood that out-of-town visitors to the hospital often stayed further away, and we wanted to develop a hotel where they could spend a few nights. This hotel will also be the first new commercial development on Troost Avenue in more than 50 years, making it all the more significant for the surrounding community.
The project is funded in part by New Market Tax Credits, which are vital for restoring some of our city’s most overlooked neighborhoods. Our tax credit consultants successfully secured a $9.5 million allocation that closed the financing gap and pushed this project forward.
Our development will continue the positive momentum that Beacon Hill is experiencing. In the next few years, the neighborhood will welcome several new mixed-use developments, including new residential and a housing project specifically for UMKC students. This area of Kansas City has such rich potential and we’re excited to contribute to its long-term future.
Read the full story at CityScene KC.