Published July 8th, 2020 at 12:15 PM2 minute read
By Kevin Collison
Work on the latest new apartment development in the River Market, the Ashland on Third project, is expected to begin later this month.
The 94-unit, market-rate project being developed by KC Commercial Realty Group was first approved by the City Council in February 2018 and was praised by then-Councilman Quinton Lucas for not seeking tax incentives.
While it’s taken more than two years to finalize the plan, when completed, the six-story building will replace the building housing Paw Paws at 110 E. Third St. and offer residents front door access to a streetcar stop and the City Market.
It’s the second apartment project done by KC Commercial Realty in the River Market. The firm developed the nearby 56-unit Centropolis on Grand project in 2016.
“After the success of our first residential development in the River Market, it was an easy decision to move forward with the Ashland on Third,” David Bayer, Principal at KCCRG, said in a statement.
“The sweeping views of downtown, the access to the streetcar and other public transportation, and its proximity to the City Market make it a great location to call home.
“We remain committed to River Market development and enhancing the neighborhood’s continued revitalization.”
Ashland will be the seventh new apartment development built in the River Market in recent years, adding about 1,200 units to the neighborhood since 2010.
In addition to Centropolis, the 323-unit Market Square project opened in 2010; the 185-unit 531 Grand, 2017; 137-unit River Market West, 2014; 120-unit River Market West II, last spring, and the 276-unit Second and Delaware project is opening next month.
Each of the 82 one-bedroom units and 12 two-bedroom units at Ashland will have one parking space on the first or second level of the structure. The building will also have 5,181 square feet of retail space facing Grand Boulevard, Third Street and Walnut Street.
Monthly rents are expected to range from $1,200- to $1,800.
The development’s name is a nod to a historic hotel formerly located at Independence Avenue and Grand Boulevard in the River Market from the 1880s until the early 1940s, according to the developer.
The 135,790 square-foot apartment building will be ready for tenant occupancy by late summer of 2022. NSPJ Architects of Prairie Village designed the building and Genesis Companies of Kansas City will be the builder.
KC Commercial Realty was formed in 2007. The principals are Bayer and Justin Cottrell. The firm also has a contract with the city to manage the City Market.