Developer Plans 248-Unit Apartment Project on Troost Near Hospital Hill
Published December 19th, 2018 at 1:15 PM
By Kevin Collison
Another big apartment project is in the works for Troost Avenue near Hospital Hill, a 248-unit development at the southeast corner of 25th Street that would take up an entire city block.
The $40 million development planned by GSSW Real Estate Investments of Dallas was endorsed by the City Plan Commission Tuesday.
“It’s an exciting project,” said Babette Macy, chairwoman of the Plan Commission.
The development calls for 10 buildings ranging from three- to six stories occupying the block between Troost and Forest, from 25th to 26th streets. The developer hopes to break ground in March with an opening in mid-2020.
“It’s a great site proximate to downtown and in a great area,” said Ian Degalan of GSSW.
The developer will be seeking tax incentives from the Land Clearance for Redevelopment Authority to help finance the project.
The planned 248-unit apartment project will occupy a full city block near Hospital Hill. (Image from GSSW City Planning application)
If approved, the GSSW development will be the latest in a series of residential projects either completed or in the works that will add almost 1,000 apartments along an eight-block stretch of Troost from 27th Street to Armour Boulevard.
On top of that private residential boom, UMKC recently completed its Hospital Hill apartment project at 25th Street that accommodates 243 students.
Much of the new residential development has been sparked by the increased employment and academic growth at the Hospital Hill medical complex. An estimated 13,000 people now work or attend UMKC’s healthcare colleges in the area.
The project planned by GSSW has 58 studio units; 114 one-bedroom, and 76 two-bedrooms. Mostly rent for a studio is $800; a one-bedroom, $1,125, and a two-bedroom, $1,250.
The project also will include 218 parking spaces concentrated in the center of the development.
The tallest building is planned for the corner of 25th and Troost and also will include ground floor commercial space for a coffee shop. The designer is DRAW architects.