KANSAS CITY, Mo. -- There could soon be another luxury apartment high-rise built in downtown Kansas City, and one group is not happy about it so they are planning a peaceful protest at Thursday’s City Council meeting.
Cordish wants to build a third high-rise with 300 units called Three Light at Truman and Main in the Power and Light District.
The project is expected to cost around $130 million. It would be complete in 2021.
While these apartments are not affordable for low to moderate income families, the belief is there are still enough people to fill a third luxury apartment high-rise with renters.
If Three Light is built, the city is contractually obligated to spend more than $17 million in taxpayer money to build a parking garage for it. On top of that, Cordish is expected to ask for a property tax abatement over the next 25 years to help them get this high-rise built.
That’s a big concern for a group called the Coalition for Kansas City Economic Development Reform, which doesn’t like seeing the city grant economic incentives for projects that might not need them.
The City Council has already given Cordish tax incentives with both One Light and Two Light, and now this advocacy group feels the city should not give Cordish tax incentives but instead use the property taxes from these high rises to pay for more affordable housing in other parts of the city.
The group against Three Light plan to attend Thursday’s City Council meeting with signs to show city leaders their thoughts on the Three Light Project.
Two Light will officially open in about a month, and Cordish doesn’t plan to stop at just three. There are plans to possibly build a total of six luxury high-rise apartments in downtown Kansas City over the next decade.