Courtesy The Millennia Cos.
The Millennia Cos. has completed the rehabilitation of the Line Creek Apartments in Kansas City, Missouri. The firm invested about $77,000 per apartment in renovations.
The Millennia Cos. has completed the $11.8 million renovation of 152 affordable homes at Line Creek Apartments, formerly known as Englewood Apartments, in Kansas City, Missouri.
The rehabilitation project has transformed the once-distressed physical conditions and preserved the affordability of the housing complex.
The change is evident in a recent inspection by the Department of Housing and Urban Development (HUD). In November, a HUD-certified inspector facilitated the agency’s Real Estate Assessment Center process and subsequently issued the development a score of 97c, up 35 points from a previous score of 62c, according to Millennia.
To support this rehabilitation, in June 2019, Millennia closed on the financing necessary to preserve the affordable apartments and soon after broke ground on the construction project, which addressed structural, systemic, and functional deficiencies that developed over time at the decades-old complex. Construction costs totaled $11.8 million, resulting in an investment of over $77,000 per apartment.
The scope of work included extensive improvements to the building interiors such as removing drywall to the studs, upgrading mechanical systems, and installing new flooring, kitchens, and bathrooms. On the exteriors, contractors put in place new roofs, insulation, siding, and energy-efficient windows, among making other infrastructure upgrades. Additionally, there is dedicated space for resident programs and activities in the newly constructed community center.
“We are proud to have preserved this apartment development at a time when access to affordable housing opportunities is needed more than ever in Kansas City and in communities across our nation,” says Frank T. Sinito, founder and CEO. “We are finding that both residents and the surrounding community are embracing the changes made at Line Creek.”
Across Missouri, there is a shortage of 122,075 rental homes affordable and available to extremely low-income households, whose incomes are at or below the poverty guideline or 30 percent of their area median income, according to the National Low Income Housing Coalition.
At Line Creek Apartments, 100% of the apartments participate in the HUD project-based Section 8 program, meaning that the residents pay 30% of their income toward rent and utilities, and the remaining portion of the expenses are subsidized. Additionally, the entire apartment development benefits from low-income housing tax credits.
The following partners provided resources and support for this rehabilitation project: city of Kansas City, HUD, Missouri Housing Development Commission, Industrial Development Authority of the City of Kansas City, WNC, Red Stone Tax Exempt Funding, and Sterling Bank. Millennia Housing Management is the property management agent.