The Gillham corridor in midtown Kansas City could soon see one of its last puzzle pieces ease into place.
That’s thanks to a recent announcement by real estate investment group Kansas City Apartments, which is bringing its Longfellow multifamily property and adjacent vacant lot to market as a potential joint redevelopment venture.
The two contiguous lots total a half-acre of land, located at 2805-2809 Gilham. The first parcel consists of 12,636-square-foot, three-story, six-unit brick masonry building and lot. Parcel number two is a 7,847-square-foot vacant lot.
Firm co-owners Valli Keller and Brooke Sheldon believes the property could complement the new energy of projects in the area including Twenty9 G at 29th and Gilham and Founders and 31 Levy at 30th and Gilham. It comes on the tail end of thirty years of focused development in the area, including other recent project announcements like the Velvet Freeze/Levy Building at 31st and Gilham Road, as well as Gallery Green between Crown Center and Union Hill.
“A decade ago, Brooke and I researched a dozen cities reputed to offer cutting-edge real estate investment opportunities and Kansas City, Missouri, was the only market that met all our criteria including job growth, investment in the arts and housing market stability,” said Keller. “We saw great opportunity in the city in general and the Longfellow Neighborhood in particular. I spent my high school and college years in the Kansas City, Missouri area, and I’ve enjoyed coming home.”
The properties are part of the Longfellow neighborhood, established in 1895, which runs from 25th to 31st street and from Gillham Road to Troost Avenue. In the 19th and 20th centuries, development in the area was driven first by jobs resulting from the Hospital Hill expansion and growth of the Kansas City Star, and later by neighborhood relocation that allowed for the development of Union Station and Liberty Memorial. In recent years, the surrounding area has been revitalized by projects including Home Depot, Costco, Martini Corner, as well as individuals and entrepreneurs who have invested in single-family housing, in-demand restaurants, and unique retailers like The Filling Station, Longfellow Farm, and Enhance Your Art Gallery and Event Space.
“The 2805 Gillham property presents an attractive urban redevelopment opportunity,” said Bob Galamba, senior vice president with Colliers International, the group managing the redevelopment offering. “The Longfellow Neighborhood is unique in that it offers large employer anchors – Truman Medical, Hallmark, Crown Center and Children’s Mercy – and includes a variety of retail, restaurants and schools, as well as residential. The growth in the Longfellow area has been a major contributor to the urban core renaissance and redevelopment of the Kansas City Apartments property will advance that effort.”
In just the last year, more than $90 million in redevelopment has been announced or is under way along the corridor.
“We have enjoyed watching the Longfellow area evolve over the past 10 years and look forward to even more improvement in the future,” said Keller.