The Kansas City Equity Fund raises capital on an annual basis from financial institutions and corporations interested in investing in affordable and historic housing in Kansas City and the surrounding metropolitan areas. The fund in turn invests this capital by purchasing federal and state low income housing tax credits as well as federal historic tax credits from for-profit and not-for-profit developers, allocating the benefits of these credits to its investors.
Our mission is to effectively utilize corporate
investment and available tax incentives
to stimulate the development of
affordable, low- and moderate-income
housing units. We strive to revitalize
and stabilize neighborhoods, through
public/private cooperation and
superior asset management.
The Kansas City Equity Fund established itself in the affordable housing community during 2006, and the initial offering in 2007 attracted a broad range of investor banks. With an offering in each subsequent year, we now have investments totaling nearly $11 million and an investor base of 12 financial institutions.
The Fund made its first investment in 2007 in Westside Apartments, partnering with Westside Housing Organization in the rehabilitation of 75 units of affordable housing in the historic West Side neighborhood of Kansas City, Missouri.
Since that initial investment, three additional properties have been added to the portfolio:
- 65 units at the Valentine Apartments, with McCormack Baron Salazar as the General Partner
- 14 townhomes at Jamison Housing on the Boulevard with Jamison Temple CDC and the Fulson Housing Group
- And our first property on the Kansas side of the metro area: The Villas at Ridge Pointe, a second phase of a property for seniors in Kansas City, Kansas, in partnership with the Overland Property Group.
Potential investments on the horizon include another in Kansas City, Missouri, as well as one in Wyandotte County, KS.