KANSAS CITY, Mo. - The 13th and Walnut Tower hopes to break ground in December. The 25-story, $75 million building will have 311 apartment units.
“We believe it’s the first market-rate apartment building ever built downtown,” said Nick Benjamin, executive director at Cordish’s Power and Light District, the developer of the new apartment tower. “We’re building a new market.”
The tower will be the tallest structure built downtown since the 30-story was built at 1201 Walnut in 1991.
Benjamin says Cordish has additional residential projects planned in the next eight to 10 years that could bring new life to the area. Four new towers and the rehabilitation of the Midland Office building at 13th and Baltimore and three additional apartment towers on the south side of the Power and Light District are in the works.
“This is the start of what we call phase two of the Power and Light District,” Benjamin said.
Cordish hopes to complete the 13th and Walnut tower in late spring of 2015, and the rehabilitation of the Midland Office Building in 2014.
Benjamin says the city has made available direct cash assistance of up to $8 million for the first two projects, of which roughly $7.5 million will go toward the 13th and Walnut building.
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