The Kansas City Area Transportation Authority (KCATA) Board of Commissioners has announced the approval of three affordable multi-family housing developments, encompassing a total of 212 new and rehabilitated units.
"Our Federal compact charges us with great responsibility," said Frank White III, president and CEO of KCATA. "Public transportation is only at its best when more people have access to it. Developing transit-oriented communities has become a best practice for connecting people to the things that matter most – housing, jobs, healthcare, education – and each other. These projects do just that."
Projects to Serve the Community
Led by the Vecino Group/Nash Group LLC, Promise Place at 45th Street between Olive and Wabash Streets and The Mabion at 27th Street and Forest will serve tenants with incomes ranging from 30% to 60% of the median family income.
"As a native Kansas Citian, it is a great blessing to have an opportunity to provide affordable housing in the very community where I was born and raised," said Dr. Troy Nash. "As a 100% minority-owned and operated company, Nash Group, along with our partners at the Vecino Group, are proud to collaborate with the Kansas City Area Transportation Authority in delivering quality transit-oriented developments. Like the KCATA, we meet people where they are and work to get them where they want to be."
Both Promise Place and The Mabion are Transit-Oriented Communities (TOC) that offer residents access to KCATA's zero-fare public transportation network. Promise Place, situated in the Ivanhoe neighborhood, will consist of 101 affordable apartments across eight buildings, located one block from the Prospect MAX Bus Rapid Transit (BRT) line.
The Mabion, located in Beacon Hill, will feature 57 multi-family units and is located half a block away from the Troost MAX BRT line.
The KCATA Board of Commissioners also approved the rehabilitation of 41 Paseo LLC, an affordable senior living facility, by Community Builders KC. Located at 41st and Paseo Boulevard, this project will preserve and renovate an art-deco-style facility, providing 54 affordable units for seniors.
"The project at 41st and Troost is an example of how our partnership with KCATA enables the continued development of affordable housing for our most vulnerable residents," said Emmet Pierson, president/CEO of Community Builders KC.
Project Funding and Support
The two affordable multi-family housing developments led by the Vecino Group/Nash Group LLC received support from Ivanhoe and the City of Kansas City, Missouri, and achieved high scores in meeting the Transit-Oriented Community (TOC) development outcomes required by RideKC Development Corporation and KCATA.
These projects have secured funding from various sources, including equity from the development team, Central City Sales Tax, the Kansas City Housing Trust Fund, Federal and State Low-Income Housing Tax Credits, and New Market Tax Credits.