KANSAS CITY, Mo. — Port KC approved $362 million in bonds for two projects that will bring 600 new apartments to the Country Club Plaza.
The agency approved the funding Monday in a deal with Block Real Estate Services and Sunflower Development, the two developers leading the projects.
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One of the projects, The Madison, is a 279-unit apartment building that will sit on the northwest corner of the intersection of Madison Avenue and 47th Street.
The Madison project received $212 million in bonds.
The second project, Plaza Corporate Center, received $150 million in bonds to revitalize the 1970s building also located on Madison Avenue and 47th Street.
Plaza Corporate Center will add another building and rebuild a parking garage in the 321-unit venture.
Both proposals will have two and and three-bedroom apartments.
The projects will receive tax exemptions for 20 years but will produce an additional $32.8 million in new tax revenues, Port KC said.
The developers also agreed to donate $2 million to KCMO's Affordable Housing Trust Fund.
Construction on the projects is expected to begin in 2025.
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