10-04-2013 07:28 PM

Martin City intersection may get senior housing, ballpark




A 40-unit seniors housing project and a 3,000-square-foot baseball stadium are being proposed for opposite sides of 135th Street near Holmes Road in the Martin City area of Kansas City.
Maximilllian Howell, CEO of Entrepreneurs Enterprises LLC in Overland Park, said the firm is co-developing the roughly $10 million senior-living project with MRE Capital LLC, which is based in Johnson County’s Stilwell community. The 40 duplex units are proposed for an undeveloped site at the northeast corner of 135th and Charlotte streets.
The $12 million baseball stadium is proposed for an 18-acre site at the southeast corner of 135th Street and Holmes Road. The developer for that site, a former driving range, is Barnstormers Baseball, which works with young players aiming for college baseball scholarships.
Howell said the two projects are being pursued jointly to maximize the positive economic impact for the surrounding community and to achieve efficiency in pursing tax credits.
Reggie Harris, director of business development for Barnstormers Baseball, said it had applied for New Markets Tax Credits through the Kansas City, Mo., Community Development Entity.
Entrepreneurs Enterprises and MRE Capital are pursuing low-income housing tax credits through the Missouri Housing Development Commission.
The companies are applying though the MHDC Partnership Initiative, which gives funding preference to proposals with mentor/protege co-developer relationships.
Howell said his firm is the protege developer, while MRE Capital is serving as the mentor and lead developer.
If the developers are granted tax credits for the projects, construction would begin in the first quarter of next year, Howell said.
The Martin City Community Improvement District recently voted to draft a letter for support for the projects.
Rob reports on real estate and development.


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