PEMBERTON SENIOR LIVING
KANSAS CITY, KS
Before the project, the site location consisted of a dilapidated greenhouse and vacant buildings creating a 15-acre eyesore and dangerous situation for the surrounding neighborhood. The site had many challenges including environmental issues, demolition, buried tanks, and wetlands. Receiving the largest tax credit allocation in KHRC history, the site was remediated and prepared for development.
Today, Pemberton is a 55+ community consisting of 80 market rate and affordable residences and maintains a three-year wait list. The community includes an affordable, maintenance free lifestyle with amenities such as a walking trail, fishing pond, and clubhouse.
Total Development Cost – $11 million
- Objective – Blight removal, environmental remediation, address demand for senior affordable housing
- Financing – $9.5 million LIHTC, Conventional Debt
- Investor/Lender – Boston Capital, Bank of America
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770 East 5th Street
Kansas City, MO 64106