RideKC Development Corporation Announces Two Affordable Housing Transportation-oriented Community Development Facility Projects East of Troost Have Received KCATA Board of Commissioners Approval
KANSAS CITY, MO: On January 25th, the Kansas City Area Transportation Authority (KCATA) Board of Commissioners approved two new affordable multi-family developments, Twin Elms and Promise Place, as recommended by their internal development organization, RideKC Development Corporation (RKCDC).
“We’re excited about these two facility projects and how they will impact their neighborhoods,” said Michael Riley, Director of Development for RKCDC. “On a larger scale, we’re excited about how Transportation-oriented Community (TOC) development can have a transformational impact across our region, increasing access to housing, jobs, healthcare, and education.”
KCATA was the first transportation authority in the U.S. to create a dedicated organization for Transportation-oriented Community development, enabled by its unique federal compact powers. “KCATA is leading the way as one of the most innovative transportation agencies in the nation,” said Melissa Bynum, Board Chair of the KCATA. “In addition to being the first to introduce zero-fare, creating RideKC Development Corporation demonstrates our commitment to pioneering new ways to build a stronger region.”
The two approved TOC facilities are made possible through KCATA’s START policy, which stands for Sustaining Transportation and Reinvesting Together.
Twin Elms
Located at 41st Street and Paseo Boulevard, plans call for a 54-unit senior affordable multifamily housing facility. The existing building on site will undergo substantial rehabilitation by developer, Community Builders of Kansas City.
"At Community Builders, we're all about strengthening communities and we believe this project will help do just that," said Community Builders of Kansas City President & CEO, Emmet Pierson. "By providing a high-quality affordable housing option, with easy access to transportation and other amenities, we can help deliver a better quality of life."
Transportation-oriented Community (TOC) development improvements include: transit shelter improvements, overflow parking options and close proximity to two primary transit lines, Paseo 85 and Troost Max, which have connections to UMKC, St. Luke’s Hospital, CVS Pharmacy, Swope Health, job centers, grocery options and other commercial facilities.
Promise Place
Located at E. 45th Street and Olive Street, plans call for a 101-unit multi-family housing facility. The current site, which is vacant land, will be developed as a joint venture by Nash Group and Vecino Group. Project plans show eight buildings connected by pedestrian pathways. 11 units will be for 30% AMI households and 90 units will be reserved for 60% AMI households. A mix of one-, two- and three-bedroom units will also have easy access to a ground-level amenity in one of the buildings including a community room with kitchen and fitness area.
"To me, this is not just a real estate project, it's opportunity creation," said Troy Nash, Chief Executive Officer of The Nash Group, LLC. "Promise Place embodies what we can achieve if we work together with tenants' best interests at heart. We're appreciative of the KCATA and RKCDC's focus on connection, access and support to make this important effort a reality."
Each proposed TOC facility goes through a multi-step process: 1) the RKCDC Board recommends the facility project be brought to the KCATA Board for approval; 2) the KCATA Board reviews and votes on the proposed TOC facility; 3) KCATA issues START bonds. These two facilities are in stage 2 of this process.
For RideKC Development Corporation to recommend a facilities project to the KCATA Board, it must meet strict Transportation-oriented Community development benchmarks, all which serve to deliver economic and environmental benefits to the region.
Additionally, any developer who partners with RKCDC on a facility must make additional commitments to facilitating public transportation, such as: rider and driver amenities, public/private parking options, and improved transit shelter accommodations.