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Port KC Approves $800M Bonds for The KC Current Berkley Riverfront Project

A map of Berkley Riverfront. Photo Credit: Port KC

Posted August 15, 2023

The Port Authority of Kansas City has approved $800 million in bonds to aid in the development of the Berkley Riverfront project—announced in July—during a Port KC development committee Monday.

Port KC approved the nearly 11-acre project located next to the professional soccer club’s stadium last month and would see the development of; more than 1,000 apartments, 210,000 square feet of office space and 53,000 square feet of retail space.

On Monday, the Port KC development committee approved its taxable revenue bonds of $800 million, in addition to further investment of $35 million to the infrastructure of the project paid for by the KC Current.

The development of the Berkely Riverfront project is estimated to generate $340 million in taxing jurisdictions over a 25-year time while also generating $13 million in incremental payments from the KC Current.

The project is currently planned out by phase and will span over the next 10 years, according to Port KC.

Groundbreaking for the project is expected to carry out in 2024.