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The Lenexa City Council voted to approve a $12 million TIF plan for The Rise, a 122-apartment complex coming to the Lenexa City Center.
Posted May 26, 2025
The Lenexa City Council approved new tax incentives for an 11-story mixed-use apartment complex coming to the Lenexa City Center.
On Tuesday, the Lenexa City Council voted to approve a TIF plan for The Rise project, located at the southeast corner of 87th Street Parkway and Renner Boulevard, and would sit on a 1.54-acre site. REAL Property Group is developing the Rise.
The TIF plan, which will last 20 years, would allocate $8 million to the developer and $4 million to the City of Lenexa. Additionally, the City Council also approved the developer’s request for $21 million in industrial revenue bonds for a sales tax exemption on construction materials.
The Rise will also receive a $400,000 grant from the City Center East Community Improvement District. The grant will be paid out in quarterly installments, with the first installment being paid within 30 days of the project obtaining a certificate of occupancy. The grant is contingent on the project being completed by December 31, 2030.
During the meeting, the City Council was scheduled to review the final development plan for the project; however, the developer requested the review be moved to the next City Council meeting on June 2.
Plans for The Rise would encompass an 11-story building that includes approximately 122 active-adult boutique residential units; 7,000 square feet of office/retail space; a 2,500 square foot rooftop restaurant and bar; and structured parking. The Rise is being designed for adults over the age of 55. The Rise would be located north of The Lofts at City Center, another mixed-use property developed by REAL Property Group.
