by Jayne Siemens
Bounded roughly by 19th and 25th Streets, The Paseo and Brooklyn Avenue, the Vine Street District includes breathtaking views of downtown and accessibility to Crown Center, Hospital Hill and the Jazz District. The $42 million plan encompasses 550 residential units, over 50,000 square feet of neighborhood retail, commercial and entertainment uses, and 16,000 square feet of office space.
"The Vine Street District is going to change the face of downtown housing in Kansas City," remarked Clyde Wendel, president of Bank of America in Kansas City. "The plan provides the only large tract of land close to the downtown area that can accommodate single-family, multifamily, and commercial uses under a single master development plan." The plan ties in with Mayor Kay Barnes' urban core revitalization strategy and its goal of adding 10,000 residential units between the Missouri River and the Country Club Plaza in the next ten years.
The initial stage of the multi-phase development calls for the construction of single-family homes on the site of the former Municipal Stadium and a new loft building along Vine Street between 21st and 22nd Streets. The Vine Street District follows principles of Traditional Neighborhood Design, also known as new urbanism, in which all elements of a neighborhood fall into a "five-minute walk" radius (2,000 feet). This design creates a pedestrian-friendly environment and encourages community interaction. In the Vine Street District, more than 90 percent of the proposed dwellings, three schools, two churches, public park areas, neighborhood retail and commercial uses will fall into the "five-minute walk" radius.
The design also features a four-block long pedestrian mall with community center and activity areas for neighborhood residents. The plan incorporates a mix of housing types to accommodate the needs of all urban dwellers, from the elderly to the upwardly mobile. Pricing will vary widely to attract a truly multi-demographic population. Bank of America will invest $1.4 million in equity for pre-development, then provide approximately $30 million in debt and equity over the life of the $42 million project.
Bank of America, through its real estate development company, the Bank of America Community Development Corporation (BACDC), invests in residential and commercial developments in urban communities, frequently taking an equity position in many projects. Nationally, the BACDC has revitalized and developed nearly 14,000 units of rental and for-sale housing, representing a total investment of $300 million.
The Black Economic Union (BEU), Kansas City's oldest community development corporation, has implemented successful housing, commercial, office and industrial redevelopment projects during its thirty-year history. "We have always been firm believers in utilizing public/private partnerships for revitalizing and redeveloping communities," said Sylvester Holmes, President of BEU. "The comprehensiveness of this development plan addresses all the components for creating a viable, healthy and enduring neighborhood, which will help to insure a successful endeavor." Move Up was formed one year ago from the merger of the Ad Hoc Group Against Crime and Project Neighborhood. Move Up's mission is to collaborate with residents, community groups, and resource providers to restore neighborhoods to safe, drug-free, economically viable communities.
"We want this to become a destination for people who enjoy urban living," remarked Jim Nunn, Executive Director of Move Up. "This is a grand opportunity to bring people back to the urban core."