Search
 

Developer to Convert Old University Hospital Into Offices, Apartments

KANSAS CITY-The city council's finance and audit committee approves the sale of up to $20 million in revenue bonds to redevelop the former hospital, which was taken by HUD in a $14-million foreclosure and sold to the city for $1.

By Judie Burkhalter | Updated on January 19, 2001

KANSAS CITY-In what could be a huge boon for the eastern edge of Downtown, city officials and a private developer are making gains in redeveloping the old University Hospital. The facility has long sat vacant, in limbo as financing issues were debated.

The city council’s finance and audit committee voted to approve issuing up to $20 million in revenue bonds for improvements to the building. Plans call for a private developer, Homkor of Missouri, to turn the property at 613 Garfield Ave. into an office and apartment building.

The ground level, second and third floors would be converted to office space, with the top seven floors turned into 224 apartment units. The city would occupy the offices on the first two floors, using them for police property, the fire marshal’s office and emergency preparedness and storage. A tenant for the third floor as yet to be named.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.