KANSAS CITY, Mo. — Interest in developing Kansas City's riverfront continues to grow.
Kansas City, Missouri-based Prairie Fire Development Group, is proposing to add a mix of affordable and market-rate units to a small parcel of land currently owned by Port KC.
The parcel is just southeast of the Union Apartments on the corner of Front Street and North Lydia Avenue.
Prairie Fire co-founder Kelley Hrabe said half of the renters in Kansas City make less than $40,000 a year and he wants to cater to that market.
"I think now is the time to address that one out of every two renters that has been kind of neglected," Hrabe said.
The proposed project could be a three to four story building with anywhere from 60-80 one and two bedroom units. Hrabe said 55-65 percent of the units would be considered affordable, meaning rents could be $600-$895 per month.
The group is currently working on a design.
"We want to do something really innovative with our design and show that affordable housing can look cool and hip," Hrabe said.
The project has the backing of Port KC, which owns the land.
"The economy is going to continue to add units and people want to move here which is a good sign for our city," Port KC CEO Jon Stephens said. "We also have to make sure that all of our citizens have quality housing and quality and affordable housing."
The development group's Columbus Park project, called CP Lofts, is already booked.
"We have a waiting list of at least 150 people on it. It's never empty," Hrabe said.
One thing that will make riverfront developments even more desirable is the possibility of the streetcar expansion.
"Having transit down there certainly helps with the overall quality of life with some of the folks that may be on the lower income scale and giving them that transit," Hrabe said.
"We are working every day to privately finance that and to finance that with the development partners down here because this area could really support five to six million square-feet of development and support potentially thousands of new citizens," Stephens said.
Citizens that may not have the means to rent a luxury loft downtown can have a space on the riverfront, on a budget.
"The need is great," Hrabe said. "For every unit we build, there's a need for about a 100 more."
Prairie Fire Development Group plans to ask the MIssouri Housing Development Commission for $12-15 million in incentives.
Construction could start mid-summer of 2020.
