KANSAS CITY, MO – The Cordish Companies announced that the highly anticipated $ 140 million Three Light Luxury Apartments will become affordable with the construction of the historic Midland office building in a 139-unit Midland loft this May Prices will start this summer. Following the success of its predecessors One Light and Two Light Luxury Apartments, which were 95% occupied throughout the pandemic, Three Light Luxury Apartments will introduce the next level of urban luxury living in the Power & Light District in downtown Kansas City. Together, these projects will create over 1,000 new jobs. Today's announcements are a great sign of optimism for the future of downtown Kansas City after a difficult year amid the pandemic.
"We are very excited to start building Three Light and The Midland Lofts and to bring two cranes into the Power & Light District, a sign of new growth and renewed energy in the downtown area after an incredibly challenging year," said Nick Benjamin, Executive Director of Power & Light District and General Manager of Multifamily Development for The Cordish Companies. "Each of these projects will be an important step forward in getting back to downtown renaissance business and creating over a thousand new jobs."
Three Light will be located on the corner of Truman Road and Main Street at the lively intersection of the Power & Light District and Crossroads Art District, bringing an additional 450 residents into the city center. The 26-story, 288-unit building will include 19 floors of studio, one-bedroom, two-bedroom and penthouse apartments, a seven-story garage with 472 parking spaces and 7,600 square feet of retail space on the first floor.
"It was a great honor to have worked with The Cordish Companies on such landmark projects that changed the downtown Kansas City skyline," said Jim Coulter, vice president of JE Dunn Construction. "From the company's vision with the Power & Light District to One Light, Two Light and now Three Light Luxury Apartments, we are grateful for the relationship we have with The Cordish Companies and for the impact the company has on Kansas City had. We look forward to bringing the rest of the corporate vision to life. "
Three Light will offer over 30,000 square feet of amenities that can rival any apartment or condominium building in the United States, including a deck overlooking 14th Street, an infinity pool, bar, demonstration kitchen, and theater room. In addition, Three Light will have a sky bridge directly over Walnut Street connecting it to Two Light so that residents of both towers can share the social facilities of their buildings.
The Midland Lofts are located in the middle of the up and coming Power & Light District in downtown, which is directly connected to the Midland Theater and steps away from Cosentino's Downtown Market, Onelife Fitness, the KC tram line and dozens of restaurants, shops and entertainment venues . The renovated building is an unused historical gem that has been vacant for more than 20 years. It will include 139 rental units offering multiple open studio and one bedroom floor plans. Prices for the units in the Midland Lofts start at $ 700 per month.
"We are committed to bringing the historic Midland building back to life as Midland Lofts," said Marnie Sauls, executive director of residential management for Cordish Living. "The renaissance of downtown Kansas City residential neighborhoods began with historic remodeling. We feel it should be added both Power & Light and a top-quality historic renovation at the start of this next phase of the renaissance, Circle."
Midland Lofts amenities include a stunning street-level lobby with large windows that let in natural light, and multiple seating areas for entertaining and entertaining, including a coffee bar and entertainment kitchen on the corner of 13th & Baltimore. There will also be a conference room, fitness center, music room, theater, rooftop terrace and various amenities spread throughout the building to facilitate access for residents.
The local Kansas City architecture and design firm Helix is the project architect for The Midland Lofts. Helix was also the project architect for the historic renovations of the Midland Theater and Mainstreet Theaters in the Power & Light District. RD Jones Interior Design is the interior designer for the interior design rooms The Midland Lofts and Three Light. Hord Coplan Macht, the project architect for Two Light, is also the project architect for Three Light.
The architecture and interior design of the Midland Lofts reflect the rich history and unique character of the building and theater, while channeling the upscale surfaces and design of One Light and Two Light. While prices for apartments in the Midland Lofts start at $ 700 per month, the finish, décor, and attention to detail in Midland will reach the same high bar as One Light, Two Light, and Three Light.
"The Midland Loft renovation is an important step towards providing wider access to downtown KC for the downtown workforce," said Emelyna Aurich, director of property management at Cordish Living. "We are delighted to be introducing so many units in the Power & Light District that are priced below $ 1,000 a month, and we strongly believe that Midland Lofts can be a catalyst for the development of lower-cost units in the downtown area – both of which increase our density and make the community more affordable. "
The plans for these projects are now more robust than originally set out in the agreement between The Cordish Companies and the City of Kansas City, Missouri. Original plans were for Cordish to build 68 apartments in the Midland Office Building. The revised plans have 139 units in total, and Cordish agreed that a third of the units in the Midlands would be affordable to renters who earn 80% of the area's median income. The updated program for The Midland Lofts includes all units priced below this threshold. Additionally, 20% of the units in Three Light are priced below the 80% threshold of the AMI.
With Three Light, the total downtown tram-related investment is more than $ 1.1 billion and the total number of downtown new buildings announced since construction began on the tram and One Light Luxury Apartments has exceeded 7,500 .
Three Light is expected to lay the foundation stone in May 2021 and be completed in May 2023. Renovation work on the Midland 12-story office building is expected to begin in the third quarter of 2021 and be completed in the fourth quarter of 2022.
