KANSAS CITY, MO - The Cordish Companies and Kansas City Power & Light District officially commenced construction on Three Light Luxury Apartments with a ceremonial groundbreaking event at the project site in the heart of the Power & Light District. Executives from Cordish and the Power & Light District were joined by Eric Bunch, Fourth District Kansas City Councilman Brian Platt, City Manager, City of Kansas City, MO; Lantrina Stewart, U.S. Department of Housing and Urban Development, Office of Multifamily Housing Paul Neidlein, JE Dunn Construction Company; and numerous community and business leaders to recognize this major milestone.
Following the success of its predecessors One Light and Two Light Luxury Apartments, which have remained 97% occupied through the pandemic, Three Light's construction begins the third stage of luxury living in the Power & Light District. Three Light's opening will bring the total number of new apartment units to downtown Kansas City by The Cordish Companies to 900 since the opening of One Light in 2015. Additionally, the Three Light project is creating 500 construction jobs.
"Three Light is a sign of great optimism and progress for downtown, especially needed as we continue to navigate the ongoing effects of the pandemic," said Nick Benjamin, Managing Partner of The Cordish Companies' Midwest portfolio. "We are proud that One Light and Two Light have become vital parts of the renaissance of downtown Kansas City and are eager to see the vision for Three Light start to reveal itself to the community as work progresses and the tower begins to rise."
"This next phase of development at the Power and Light District is a symbol and example of what successful development in Kansas City can and should be," said Brian Platt, City Manager, City of Kansas City, MO. "The real estate market in Kansas City is strong and continuing to build momentum, and we look forward to future mixed income developments here that also include workforce and affordable housing."
Situated at the vibrant intersection of the Power & Light District and Crossroads Art District, Three Light will bring another 450 residents to downtown. The 26-story, 288-unit building will feature 19 floors of studio, one bedroom, two bedroom and penthouse apartments, a seven-story garage with 472 parking spaces and 7,600 sq. ft. of retail space on the first floor. Units offer floor-to-ceiling windows with inspiring views of the city, gourmet kitchens, luxury Quartz countertops, private balconies, finishes typical of high-end condominiums and more.
More than 20% of the units in Three Light will be priced below the 80% of AMI affordability threshold.
"We are extremely excited to be introducing Three Light Luxury Apartments to the Power & Light District and downtown Kansas City," said Emelyna Aurich, Director of Property Management for Cordish Living. "Three Light will offer its residents a first-class living experience with spectacular views, resort-style amenities and curated concierge services. We look forward to welcoming more residents to downtown Kansas City in the fall of 2023."