KANSAS CITY—Port KC, formerly known as the Port Authority of Kansas City, MO, has just leased five acres of land to Flaherty & Collins for The Union at Berkley Riverfront Park, a mixed-use development on the city's riverfront. Even though it sits on the cusp of downtown, the area has been unused for many years. The company will develop a new 410-unit, market-rate apartment project at 1298 E. Riverfront Rd., with 12,400 square feet of ground-level commercial space and a 400-space parking structure.

MW Builders, the contractor, will begin construction this month, and expects to deliver the project in the summer of 2018.

It's a historic moment for Kansas City, the start of the riverfront's transformation into a vibrant neighborhood. Cities across the Midwest, including Indianapolis and Columbus, have realized that underused or abandoned land adjacent to old canals or rivers can supply picturesque sites for new residences or parkland, an important factor in drawing young people into downtowns. In Kansas City, port officials still have another 40 acres available, and envision a master-planned development with more than five million square feet of mixed-use buildings.