The Netherland + The Monarch
39th & Main — two buildings, est. 1928 — Midtown, Kansas City
A ten-floor Spanish Revival apartment hotel — on the National Register since 1979 and dark for most of the years since — and the Monarch Storage warehouse beside it. Two decades of rehab attempts failed for lack of capital. We assembled a PIEA construction bond, federal and state credits, New Market Tax Credits and abatement, and delivered 136 homes across the pair, with a rooftop bar and pool deck above the old Monarch ghost sign.
- Original use
- Apartment Hotel
- New use
- 136 Units
- Commercial
- ±15,000 SF
- Total investment
- $26MM
Incentive stack
Federal Historic Tax Credit — 20%
Missouri Historic Tax Credit — 25%
New Market Tax Credits
PIEA construction bond
PIEA tax abatement
