531 Grand Boulevard

Kansas City, Missouri

531 Grand Boulevard is a Class A+ 185-unit, mixed-use, transit-oriented development located in Kansas City’s historic River Market district. 531 Grand is a direct representation of the investment value that can be achieved through smart development in a thriving secondary market.

Investment Summary

 

Total Project Cost
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Equity Raised
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Cash on Cash Returns
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Internal Rate of Return
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5-Year Hold

 

 

Tax Incentive
  • 15-year tax abatement
  • NPV = $1.85 million
  • Sales tax exemption on all construction materials (estimated $500,000 value)
Construction Timeframe
  • 18-month construction schedule
  • First unit delivered in month 16
  • Clubhouse and model units delivered in month 14
Local Market Trends
  • 2.9% average annual rent growth over the past 5 years
  • 1.2% rent growth 3rd quarter 2016
  • 95.6% occupancy rate

 

531 Grand was developed on an infill site on the north side of Kansas City’s downtown loop, with stunning views of Kansas City’s downtown skyline and surroundings. Podium style construction was chosen for 531 Grand to increase height, maximize views and to create a unique, private, elevated amenity deck two stories above street level. 531 Grand is a luxury apartment building and includes the following amenities and features:

 

  • Floor-to-ceiling windows
  • Quartz countertops
  • 9-foot and 10-foot ceilings
  • USB charging ports in kitchens and bedrooms
  • Nest thermostats
  • Keyless entry door locks
  • Private patios and decks
  • Views of KC and River Market
  • Resort-style pool with sundeck
  • Shaded cabanas and lounge chairs
  • Outdoor grilling station
  • Outdoor Firepit
  • Dog wash and grooming stations
  • Parcel concierge service in mail room
  • Optional extra storage space
  • Secure bicycle parking
  • Bike repair and wash stations
  • Car charging stations
  • Enclosed structured parking
  • Internet café with WiFi
  • Club room with fireplace
  • Dedicated yoga room with fitness on demand
  • Fitness center
  • Kitchen and lounge area
  • Billiards area

 

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