Community Builders of Kansas City’s (CBKC) was awarded $1 million from the Kansas City, Missouri, Central City Economic Development (CCED) sales tax incentive program for its Residences at Overlook development.
The Residences of Overlook is the first of many projects to follow on the success of the sleek and modern Offices at Overlook, a transformational development that replaced blighted lots at Dr. Martin Luther King Jr. Blvd. and Chestnut Ave., with a three-story, 60,000-square-foot office building featuring private tenant roof terraces. Health Forward Foundation will be anchor/owner of Offices at Overlook, consistent with CBKC’s mission to provide in-demand services to the surrounding community.
The Residences at Overlook in projected to have approximately 117 covered parking spaces and 164 mixed-income multi-family units offering contemporary upscale housing and sought-after amenities in one-, two- and three-bedroom units with modern, high-end furnishings.
“CBKC is pleased to have received this investment for a pioneering project, which reflects the CCED team’s recognition of the importance of delivering high-quality, community-focused housing in the urban core – the type of housing CBKC is known for,” said Shannon Hesterberg, CBKC chief operations and real estate officer.
CBKC announced the first Overlook District project in April of 2020. Along with the office and residential buildings, the 11-acre campus will include a three-quarter-mile walking trail open to the public, outdoor event plazas for business and community gatherings and accommodate 19,000-square-feet of future mixed-use development.
Kansas City, Missouri’s CCED tax program is a voter-approved initiative funded by a 1/8-cent sales tax, dedicated to reinvesting in Kansas City’s East Side to support equitable economic growth, housing and small business development. Administered by the Economic Development Corporation of Kansas City (EDCKC), it focuses on transforming disadvantaged areas by promoting shared prosperity through projects that create jobs, affordable housing and opportunities for residents.