Published September 26th, 2023 at 11:30 AM2 minute read
By Kevin Collison
A 10-story apartment project is being proposed at 4627 Madison near the Country Club Plaza by Block Real Estate Services, just across the street from another residential tower being pursued by the firm.
Plans filed with the city indicate the proposed development would include 218 apartments on top of a four-level, 477-space garage. It would be located on a parking lot north of the Plaza Corporate Centre at 800 W. 47th St.
Across Madison Avenue, Block Real Estate already has the approvals necessary to build a 15-story luxury apartment tower on a vacant, triangular site where Roanoke Parkway and Madison meet at 46th Street.
That project, The Madison, was first proposed in in 2016. No construction activity has occurred however, since it completed the city approval process in early 2022.
The 238-unit The Madison development also would include a row of townhouse-style apartments along Roanoke. A 374-space garage would be built into the slope of the site.
Aaron Mesmer of Block said the two projects are separate and progress relies on lining up investors. He added rising construction and interest costs have made the apartment development market difficult.
“Our goal now is to have everything teed up so when a deal comes into the strike zone, we’ll be able to go ahead,” he said.
The new proposal at 4627 Madison also joins another big apartment development proposed by Lane4 Properties at 4711 Belleview. The firm wants to build a 13-story project that would hold 328 apartments.
The Port KC board recently approved the framework of a deal that would provide the developer with a 20-year property tax abatement, 10 years at 85 percent, five years at 80 percent, and five years at 75 percent.
The 4711 Belleview development planned by Lane4 Properties was approved by the City Council last year. It would be located on property that includes the former JJ’s restaurant location, which was destroyed in an explosion in 2013.
Together, should the three projects move forward, it would add almost 800 apartments in a roughly two-block area on the west side of the Plaza.
While the historic Country Club Plaza itself and its retail and security situation have been the topic of community concern, and the owners have defaulted on a $295 million loan, the area around the Plaza has experienced strong development interest.
In addition to the three apartment proposals, Price Management also recently completed the 102-unit West Plaza Flats project at 44th and Belleview.
A $100 million-plus hotel development by Capital Management at 46th Terrace and Wornall Road is nearing completion.
The 124-room Aloft hotel opened in January and the adjoining 180-room Cascade is expected to open next month. The Cascade will include a Strang Food Hall with four chef-driven concepts and two bars.