Ivanhoe Gateway at 39th Closes!
We are pleased to announce the closing of our most recent investment – Ivanhoe Gateway at 39th. This affordable housing development will consist of 12 newly constructed two-bedroom units located in a “Green Impact Zone” on the site of the former Horace Mann School in Kansas City, Missouri. The Green Impact Zone was designed to serve as a national model for place-based investment, demonstrating how targeting resources in a concentrated area suffering from long-standing disinvestment might lead to significant change.
Federal stimulus funds have been deployed to strengthen neighborhoods, create jobs, and improve energy efficiency within a 150-square-block area that includes the project site. Ivanhoe Gateway at 39th will build upon this investment to further strengthen the Ivanhoe neighborhood. All of the units will be tax credit units set aside for residents aged 55 or older with income at or below 60% of the area median income.
This project represents the second phase of a three-phase redevelopment plan for the area. We are excited to be a part of this development team and pleased to work with the General Partners of this development, Ivanhoe Neighborhood Council and Missouri Housing Partners.