Work begins on Kansas City's first multifamily Passive House Institute-certified buildings
A new apartment complex going up in Kansas City’s River Market will use “greener than green” building techniques.
The $62 million project is unique in its Passive House Institute-certified construction, a building method that is more energy efficient than the highest LEED-certified standards, reports the Kansas City Star.
The buildings, slated to open in May 2017, will have 16-inch-thick concrete walls, a “green” roof and other features that are expected to create a 90 percent reduction in energy consumption compared with structures of comparable size and use. The buildings will use an energy recovery ventilation system that reduces heating and cooling demands.
The project will consist of two buildings and provide 276 apartment units, a mix of market-rate and “workforce housing” units designed to be affordable for low-wage workers. One-fifth of the apartments will be allocated for qualified low-income tenants.
The city of Kansas City has committed $2.9 million in street and green space improvements to the site.
Developer Jonathan Arnold said that the project closed on crucial financing through the U.S. Department of Housing and Urban Development, obtaining a $49 million fixed-rate, government-insured mortgage loan.
That financing is coupled with issuance of $30 million in tax-exempt Multifamily Housing Revenue Bonds authorized by the Planned Industrial Expansion Authority and sold by Ameritas.
The project also received federal and state low-income tax credits plus a 10-year, 100 percent property tax abatement followed by a 15-year, 50 percent abatement on the project’s added value. Because of the abatements, the developers agreed to pay $20,000 a year in payments in lieu of taxes to the taxing jurisdictions, such as Jackson County, Kansas City Public Schools and the Kansas City Public Library.
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