Kansas City Council approves $5M subsidy for Cordish apartment project

The Kansas City Council has approved a $5 million subsidy to The Cordish Co. for its planned downtown residential project.
The full council passed the measure Thursday after a committee had recommended its approval the day before.
The $5 million brings to $8 million the city’s total cash contribution to Cordish’s project. The $70 million project is expected to bring 316 new residential units to the Kansas City Power & Light District.
Cordish drew down an initial $3 million from the city to construct footings at the corner of 13th and Walnut streets, where the 250-unit high-rise apartment project will be built on a surface lot.
The city also expects to approve a 25-year, 50 percent tax abatement for Cordish, most likely through the Planned Industrial Expansion Authority.
The project, which also includes renovating the Midland office building into 63 residential units, makes good on Cordish’s promise to build apartments in the Power & Light District.
Cordish’s residential plans don’t stop there.
It envisions building an additional 750 units at three different locations in the Power & Light District during the next eight to 10 years.
A surface lot adjacent to Alamo Mainstreet theater, one behind the Bristol restaurant and one behind Bar Louie are slated for future residential development.