In partnership with the City of Independence, Midtown/Truman Road Corridor Association and the Harry S Truman Historic District Neighborhood Association, the private development entity of Cohen-Esrey Housing Partners (CEHP) undertook the transformation of one of the region’s most important neighborhoods.  Ten existing apartment buildings and a utility building within a concentrated two block area were extensively rehabilitated in accordance with the Secretary of Interior’s Standards and all LIHTC-related regulations.  In total, over $5 million was invested in this National Historic Landmark area, while creating an award winning mix of affordable and market rate housing.  Among the honors for the Maple Avenue Apartments was the 2002 Governor’s Award  for Affordable Housing.

This project required extensive community and developer interaction, which CEHP and the City facilitated.  Formerly overcrowded and poorly maintained apartment buildings and rental houses were acquired from multiple owners in order to create the most positive overall impact in the neighborhood.  While maintaining each structure’s historic character, units were reconfigured and upgraded to transition from 75 cramped units to a more livable 64 units.  Several units were also designed to be fully ADA accessible, while again still maintaining their historic character.

The CEHP development team oversaw all aspects of the project form planning, design and construction to extensive financial analysis and lease-up/marketing.  Based on the private development investment in this 30,000 sf project, the City and local utility companies made major infrastructure upgrades in the immediate area.  This coordinated work with the housing development, included new sidewalks and gutters, buried utility lines, period lighting and signage.  When completed this transformative project created a much stronger neighborhood and met the community’s needs for varied levels of affordable housing.

Independence, Missouri

Project developed while Partner in Charge of CEHP affordable housing developers

CLIENT:

CEHP Private Portfolio, City of Independence, Midtown/Truman Road Corridor Redevelopment Corporation

PROJECT OVERVIEW:

Over $5 million, 11-building tax credit redevelopment project within the Harry S Truman NHL Historic District, featuring additional critical infrastructure upgrades.

SERVICES:

Property Analysis and Acquisition
Pro Forma Financial Development
Historic and Housing Tax Credits
CDBG Utility Upgrade Oversight
Combined Tax Credit Feasibility
Integrated Project  Financing Property Management Planning

REFERENCE:

Eileen Weir, Mayor
Don Reimal, Former Mayor
Independence, Missouri
(816) 325-7030