The Kansas City, Missouri, City Council gave final approval on Thursday to a plan that developers say will bring 500 residents to the 34th and Broadway area in midtown.
Phase 1 of the $50 million development is the conversion of the seven-story Missouri Gas Energy Building to 101 upscale market-rate apartments and includes the addition of a penthouse level.
Later comes construction of a complex of buildings on the five-acre site that will bring the total to 235 units.
Council Economic Development chair Scott Taylor praised the California developer for including 18,000 square feet of space for small businesses.
“That's a part of town that could really use a little more foot traffic and activity, and this developer understands that,” Taylor said.
With the basic plan approved, the developer plans to seek tax abatement approval from the Planned Industrial Expansion Authority.
If the tax breaks are granted and approved, renovation of the MGE building could start early next year. The development of the full mixed-use complex would take several years.
Steve Bell is afternoon news anchor and business news reporter for KCUR. He may be reached at 816-235-5173 or at steveb@kcur.org
