Ivanhoe Gateway at 39th
Ivanhoe Gateway at 39th 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.
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, with the General Partners Ivanhoe Neighborhood Council and Missouri Housing Partners.
| KCEF INVESTMENT FUND: | Kansas City Equity Fund 2009 L.L.C.; St. Louis Equity Fund 2011 L.L.C.; St. Louis Equity Fund 2012 L.L.C.; St. Louis Equity Fund 2013 L.L.C.; St. Louis Equity Fund 2014 L.L.C. |
| LOCATION: | 3800 Block of Euclid, Ivanhoe neighborhood, Jackson County |
| NUMBER OF UNITS: | 12 |
| UNIT MIX: | One Bedroom Units |
| CONSTRUCTION TYPE: | New Construction |
| TAX CREDITS TYPE: | Federal and State Low Income Housing Tax Credit |
| TOTAL INVESTMENT: | $2,523,868 |
| TOTAL DEVELOPMENT COST: | $2,770,043 |
| DEVELOPER: | Ivanhoe Neighborhood Council and Missouri Housing Partners |
| PROPERTY MANAGER: | Fulson Asset Management Company |
| ARCHITECT: | Hans Thomas and Associates |
| GENERAL CONTRACTOR: | Diggs Construction |
| MANAGING MEMBERS: | MHP Ivanhoe Senior Cottages, LLC |
| INVESTOR MEMBERS: | KCEF 2013, KCEF 2014, KCEF 2015 |
| LENDER: | Lancaster Pollard (Tax-Exempt Bonds) |
| ACCOUNTANT: | RubinBrown LLP |
| ATTORNEYS: | Armstrong Teasdale LLP; Rosenblum Goldenhersh |