ABC Storage Slated to Become Lofts, Latest Exact Deal on Streetcar Route
Published September 23rd, 2021 at 11:30 AM
By Kevin Collison
Exact Partners has snapped more properties on Main Street in anticipation of the streetcar extension: the six-story ABC Storage building at 3244 Main and a smaller building next door.
The firm has the propertiess under contract and intends to redevelop the buildings, which date to the early 1900s, into apartments with commercial space on the first floor and a potential rooftop bar, according to Caleb Buland of Exact.
“We have very grand ambitions for the buildings…they’re a great piece of history,” he said. “We want to turn them into 60 lofts and we’re looking for partners for main floor commercial.”
An example of a car manufactured by the Anderson Electric Car Co. in Detroit.
The ABC Storage & Van Co. Warehouse building was completed in 1908 and has been used for storage its entire history. The three-story building to the north at 3240 Main opened in about 1912 and originally housed the Anderson Electric Car dealership.
Cydney Millstein of Architectural & Historical Research is preparing the National Register of Historic Places application necessary to apply for state and federal historic tax credits.
The transaction also includes a portion of the parking lot to the south of the buildings. Exact also controls about 100 parking spaces across the street.
Buland said the main floor of the ABC building could be a small grocery store, restaurant or specialty urban retailer such as DGX that sells food and household essentials.
He estimated the firm’s planned investment would be about $15 million. Exact plans to hold meetings with the neighborhood over the next two- to three months to solicit ideas and review plans.
Exact Partners has invested heavily along Main Street including the renovation of the former Netherland hotel building near 39th and Main into 144 apartments.
The firm, which includes partner Ilan Salzberg of Denver, has made substantial investments in the urban core of Kansas City, both along Main Street, Martini Corner and Troost Avenue.
Exact Partners redeveloped the historic Netherlands Hotel near 39th and Main and Monarch Storage building next door into 144 apartments two years ago. The Canary restaurant and rooftop bar also operate at the Netherlands.
The firm also has bought properties at strategic corners along the planned streetcar route including the former MainCor office building at 3215 Main, the former Kansas City National Guard Armory at 3620 Main, and an office building on the southeast corner of 39th and Main.