Developer introduces The Edge
By Kathy Feist
At the September 14th Martin City CID meeting, JCM Ventures developer Jake Mooney presented his proposal for The Edge Apartments, a $26 million multifamily housing development consisting of 93 units to be built at 138th and Madison Avenue, behind the Mercedes Benz dealership. The property will include one- and two-bedroom apartments, a small dog park, workout room and a playground. While the apartment complex is not in the Martin City CID boundaries, Mooney requested a letter of approval from the organization. He hopes to present plans to the city in December.
While not strictly defined as affordable housing, the multifamily housing complex is geared for those with an annual income between $20,000 and $73,000 (2-bedroom). The average monthly rent for a unit is expected to be around $1100. By providing this form of “workforce affordable housing,” the developer receives tax credits that can be used for more expensive housing projects or sold to other corporations, according to Mooney. In that way, the developer is subsidized, which helps drive down the rental costs for tenants.
The project is a joint venture between Creason Development and JCM Ventures. Mooney says he has built 32 different apartment complexes in such cities as Austin, Texas, Branson, Missouri, and Winter Park, Colorado.
Mooney expects the date of completion, if all goes well, to be in the fall of 2025.
The CID members voted in favor of drafting a letter of approval.
The Telegraph often gets asked about the future of the Martin City Golf Complex at Wornall and 135th Street.
On August 17, the City Council approved an extension for plans for the Tilden Station, a $30.1 million multifamily development consisting of 211 studio, one- and two-bedroom apartments. The four-story building is intended to provide workforce housing to employees in south Kansas City’s industrial area along 150 Highway, including the National Nuclear Security Administration’s Kansas City National Security Campus.
Plans were introduced in 2021 and was to have been completed by summer 2023. The developer Revive Capital stated that their delay was due to a long, drawn-out lawsuit between the owners of the Martin City property. With the suit resolved, the developers felt they could proceed with plans. The timeline was extended to 2026.