Renovations of apartment buildings along Armour Blvd.

[chrizow]

It would be great, if someone at the Star, (Mr. Collison?), would do an in depth article on Antheus/MAC. Who are they? What is their structure? Where are they headquartered? What else are they doing? How much more might they do? Where the hell do they print their money?

Hooray for them and as result, for us! Really so extraordinarily important to the health and future of midtown and rippling out concentrically.

from what i understand, antheus is based in NJ. MAC Properties manages the properties. my understanding is that it is a holding company, but the arm doing the work in KC has also renovated a lot of apartment buildings (like 40) in chicago's hyde park for a similar demographic.

[earthling]

Good to see they will mostly be market rate and great to see Armour cleaned up even more than it already has been. That section of midtown to 39th/Main has been the last leg of Midtown problem areas (granted Westport still needs improvement - dumping Americas Pub would probably do it). Would hope to see some market rate investment along 39th/Broadway to Main after this is done. The whole RCP corridor has really come together over the last 10 years.

[brewcrew1000]

Good to see they will mostly be market rate and great to see Armour cleaned up even more than it already has been. That section of midtown to 39th/Main has been the last leg of Midtown problem areas (granted Westport still needs improvement - dumping Americas Pub would probably do it). Would hope to see some market rate investment along 39th/Broadway to Main after this is done. The whole RCP corridor has really come together over the last 10 years.

Agreed, maybe this will improve retail along Main and Broadway. So sick of the Pawn Shops, Smoke Shops, Check Cashing, and Gas Stations that sell Crack Accessories (They sell Chore Boys, a type of steel wool pad, behind the counter and the Shells on Main and Broadway which is used for cleaning out crack pipes.)

[chaglang]

Some of the backstory on Antheus' buy-up of Armour is interesting, in a good way. I heard Peter Cassel speak last summer and he talked about how the city used "leftover" money (I have no idea what this means) from the Home Depot/Costo development to help Antheus buy the Homestead off its previous owner at above market rate. Homestead had a San Diego based owner who was fine with collecting Section 8 checks and didn't feel the need to sell. Antheus was concerned because that building was a huge problem and it sits right between two of their renovated properties. Great move by KCMO.

[chaglang]

There's a shiny new Hufft Projects sign outside the large apartment building west of the Park Central. So maybe that project will start moving again. I think Mel Solomon's office had the project there before Hufft - does anyone know what happened that it was on hiatus for so long?

[dangerboy]

he talked about how the city used "leftover" money (I have no idea what this means)

The Midtown Marketplace and Mill Street Station (Sunfresh) projects had a component where part of the TIF revenue went into fund for small grants to renovate homes in Midtown.

[DiggityDawg]

Not on Armour, but nearby...

It looks like they're tearing down some of the apartments on Knickerbocker ( just West of the Ambasssador ).

Something else I've noticed - it looks like they're tearing down the building just south of the Free Clinic there on Broadway. Dunno what's going on there.

[brewcrew1000]

I wish that damn Plasma center would go away and is really holding all of midtown back. It's a haven for drug dealing. People get cash from plasma, then walk towards 37th or 38th and Central/Baltimore and complete their transaction for crack

[beautyfromashes]

I know that KC Life owns that building mentioned on Broadway, so I wouldn't be surprised if it is being torn down because, really, that is what they do. They are in the building teardown, neighborhood decimation business.

[dangerboy]

I wish that damn Plasma center would go away and is really holding all of midtown back. It's a haven for drug dealing. People get cash from plasma, then walk towards 37th or 38th and Central/Baltimore and complete their transaction for crack

The bigger problem is lack of a CID on Broadway to provide security, infrastructure improvements, and marketing. With CIDs on Main Street, 39th Street, and in Westport, Broadway has become a international waters for sketchiness. I was hoping the investments by MCC, MAC, and others would finally lead to a CID or at least a united front, but so far no luck. And of course Larry Sells' dormant TIF district continues to be a blight on the heart of the corridor.

[KCtoBrooklyn]

First, some apparent bad news: I just noticed that on the north side of Armour between Baltimore and Wyandotte, which consists of smaller apartments which have long been vacant, where there was previously a "MAC Properties Coming Soon" sign, there is now a for sale sign. This does not seem to bode well for these properties if MAC couldn't make the rehab work.

Now, the good news: new construction activity seems to have picked up on a number of MAC properties. There has been activity for a while on two of their larger properties - The Bellerive (the largest building on Armour) and Westport Central - but more recently I've noticed activity picking up on other buildings including the Homestead and the Kenwood Apartments. The Armour Park building renovation seems to be nearly finished.

Depending on the pace of the rehab of the various buildings, it seems that there could be a rather larger number of units coming on the market in a relatively short time frame. I wonder if the market can support that many new units in the area. I had previously though they were delaying work on some of their properties to avoid a glut of apartments, but it seems they may have just been waiting on the funding.

[brewcrew1000]

It would be better for those properties between Baltimore and Wyandotte to just be demolished. Peter Cassell, the developer in that project stated the two apartments have too many structural problems to make it happen.

[FangKC]

I also noticed that 1110 E. Armour Boulevard (east of Troost) is for sale. Does MAC own this building now?

http://www.blockrealestateservices.com/ ... tyID=11164

[beautyfromashes]

It would be better for those properties between Baltimore and Wyandotte to just be demolished. Peter Cassell, the developer in that project stated the two apartments have too many structural problems to make it happen.

There are structural problems because they have done nothing with them for the last several years. The front porches were just allowed to rot and fall down. If they weren't going to develop the properties (or at least maintain) immediately then why buy them? Someone else might have been willing to put the effort in to restore them. What a waste!

[FangKC]

They can be fixed. It will just be more expensive. Hopefully, someone with an interest in preserving these buildings will buy them. These are interesting old apartment buildings and they deserve to be saved.

Renovation is the preferred outcome because if they get demolished, those parcels will probably remain vacant for decades.

[chaglang]

I also noticed that 1110 E. Armour Boulevard (east of Troost) is for sale. Does MAC own this building now?

http://www.blockrealestateservices.com/ ... tyID=11164

According to the county, someone named Joe Mackey does. Looks like the building is broken up into condos.

[chaglang]

It would be better for those properties between Baltimore and Wyandotte to just be demolished. Peter Cassell, the developer in that project stated the two apartments have too many structural problems to make it happen.

This is just on the north side of the street, right? I think there are tenants in the buildings on the south side.

[Pork Chop]

New Jersey-based Antheus Capital recently closed on its purchase of the nine-story building at 3560 Broadway. The firm plans to renovate the historic structure, now cut up into 197 small units, into larger, market-rate apartments after the leases of current tenants expire.

“It’s in very deteriorated condition,” Peter Cassel, an Antheus director, said. “The work done most recently was inadequate at best and the years have been hard on the building. We need to do a complete gut rehab.”

Cassel said the renovation of the old Ambassador will continue the work being done along Armour into Broadway.
“Broadway is an important part of midtown,” he said. “This is an opportunity for the corner of Armour and Broadway to be a pivot between two strong apartment corridors.”

Cassel said it will be several months before architectural plans are completed and the number and type of new apartments is determined. The firm will be seeking federal and state historic tax credits to assist the work.

The total cost of the redevelopment has not been determined. Parking also has not been arranged.

Code: Select all

We’re working on a number of solutions,” he said. “We know market-rate renters in Kansas City own cars and providing parking is part of solving the legacy of these great buildings.”

Read more here: http://www.kansascity.com/2012/07/03/36 ... rylink=cpy

[KCMax]

MAC Properties will renovate apartments in Midtown

he Ambassador Apartments building in midtown Kansas City is set to be renovated this year, said Peter Cassel, director of community development at MAC Property Management LLC.
The nine-story 1920s-era building at 3560 Broadway will be converted from 190 studio units into 115 studio, one- and two-bedroom apartments by the beginning of 2014, Cassel said Wednesday.

[KCtoBrooklyn]

I posted this info on the MAC projects in another thread and there was a request to also put it in this thread, so here it is. I also added some new info about the Homestead (now called The Ricardo, 57 units scheduled to be completed this spring).


Armour and Broadway is the Westport Central. 188 units. I have seen them bringing in appliances, so I would guess that is near completion.



The Ambassador is at 36th and Broadway. 115 units. Work is scheduled to start in the second quarter this year and be completed by early 2014.


The Bellerive is the building at Armour and Warwick. 150 units. There hasn't been as much work visible from the exterior lately, but I have no reason to believe this project is stalled, as I always see trucks in front of it.


The Kenwood Apartments are the two buildings at undergoing work at Armour and Kenwood. The Middle section that previously housed the elevator has been demoed to return building to original condition.



The Homestead, 57 units at Armour and Campbell is under construction and looking much better. It is returning to it's original name, The Ricardo, and is expected to be finished this spring.




500 E Armour - an old mansion split into six units called "The Duke" and 3421 - 3425 Locust are also currently being worked on and seem like they could be near completion. I don't know how many units.





The Windmere Apartments at Armour and Cherry - 78 units - Was recently completed. It is not listed on MAC's website, so it may be fully rented already.