The 47Madison apartments project won a 13-0 approval Thursday from the Kansas City Council, bolstered by the fact that no public incentives were sought.
The 13-story luxury apartment development by Block Real Estate Services will rise from a vacant wedge of land at 47th Street between Madison Avenue and Roanoke Parkway.
The tower and adjacent town home-like structure along Roanoke were presented to the City Plan Commission in December. The plan sailed through the city’s approval process and is expected to have a groundbreaking in May or June.
Block acquired the property from Highwoods Properties, the former owner of the Country Club Plaza, and a private investment group. The company opted to build 245 residential units rather than an office tower on the site, partly to minimize traffic congestion on the busy commuter routes.
“This will be one of the most visible and exciting new apartment developments in Kansas City for years to come,” said Scott Taylor, chairman of the council’s Planning, Zoning & Economic Development Committee. “We are excited to support this significant $90 million private-sector investment in Kansas City with no incentives requested.”
The project is designed by NSPJ Architects and will be built by Titan Built. It includes a 322-space parking garage and outdoor green space accessible to the public at the 47th Street tip of the triangular tract. The apartments are expected to command luxury-level rents.
Source: KC Star