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Kansas City purchases Parade Park Homes complex, plans for $275M redevelopment project

Parade Park Homes complex
Posted at 3:20 PM, Mar 11, 2024
and last updated 2024-03-11 16:20:56-04

KANSAS CITY, Mo. — Kansas City, Missouri, purchased the historic Parade Park Homes complex in a foreclosure sale on Monday, Mayor Quinton Lucas announced.

The complex had previously been managed by the U.S. Department of Housing and Urban Development (HUD) since 2022.

HUD announced it would foreclose the property in 2023.

KSHB 41's Rachel Henderson reported HUD foreclosed the property because of unfit living condition in the complex including broken windows, uninhabited units and burn marks among other things.

In early January, there were hundreds of unoccupied of the 510 units at Parade Park Homes, which only continued to increase as KCMO announced efforts to buy the complex.

On Jan. 3, only 189 of the units were occupied, which later decreased to 166 by Jan. 17.

Henderson spoke to residents living in the complex who were concerned about what the buy could mean for them.

Asked about the concerns, Lucas said current residents would be top of mind when deciding what to do next with the complex.

“The biggest thing we have in our current arrangement is, making sure that everybody who is there today has a chance to go back, that’s step one,” Lucas said in January. "I think the next step is, how do you have a modern area and facility that’s something that is attractive to people coming into that area, but also people that have been there for years and years?”

Lucas said the city is planning a $275 million redevelopment for the complex which will include 1,000 new units.

The city has also conveyed the property to Flaherty & Collins Development and Twelfth Street Heritage Corporation.

“Since my first week as a City Councilman, as mayor, and through two presidential administrations, I have fought to return dignified housing and development to Parade Park, a crown jewel of Kansas City’s East Side, our Black community, and our entire city," Lucas said in a press release. "For my family and so many of our neighbors, I thank President Joe Biden, HUD Secretary Marcia Fudge, Congressman Emanuel Cleaver and all who worked with the City of Kansas City over the years to ensure we did right by Parade Park residents.”

Lucas said next, Flaherty & Collins Management, Inc, who's now in charge of managing the property, will work with residents to set up new leases.

In addition, HUD has authorized Tenant Protection Vouchers for eligible residents of Parade Park Homes that will begin on March 12.

Those not eligible for a voucher will still have a chance to live in an affordable unit after redevelopment, the city said.