KANSAS CITY—Village Green, one of the nation's largest and oldest privately-owned developer, owner and manager of luxury apartment communities, recently purchased ICON on the Plaza Apartments in Kansas City. The Farmington Hills, MI-based company intends to redevelop and reposition the 214-apartment community in the city's Country Club Plaza neighborhood as one of its City Apartments brand. The company will rename the community in June when after it opens new models and completes other significant changes. Village Green Construction will begin working immediately and plans to complete the job by spring 2016.
“Country Club Plaza is an ideal location for our City brand - it's a very popular area for professionals where you can walk to work, world-class shopping and entertainment,” says Jonathan Holtzman, chief executive officer of Village Green, in a statement. “This is our first acquisition in Kansas City and will serve as a foundation for Village Green to develop and expand our third party management of luxury apartment communities.
The purchase price of the community was not disclosed. Company officials could not be reached by press time.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
