Lux Living will not move forward with a $55 million apartment development at Berkley Riverfront.
In May 2022, Lux failed to secure a desired 25-year property tax abatement for a seven-story complex with 254 units and 2,598 square feet of commercial space from the Port Authority of Kansas City.
Opposition from numerous residents — who cited tenant complaints and municipal and legal concerns reported about Lux projects in its native St. Louis — resulted in a final vote falling through.
Nevertheless, Lux went on that September to net final plan approval from the City Plan Commission to build the apartments on about 2.2 acres.
However, more recently, a purchase and sale agreement between Lux and the Port Authority of Kansas City for the site expired in late July, port officials confirmed.
That’s not to say the riverfront’s multifamily momentum is in question. Joe Perry, the port’s vice president of real estate, said developers had started inquiring about Lux’s site even while it was still under contract.
Now, an eventual substitute apartment project could have a similar scale to what Lux had contemplated, though Perry said he is not yet at liberty to say who might build it.
Read more in the Kansas City Business Journal.