Parade Park will undergo a $275 million renovation after the nation’s oldest Black-owned housing cooperative was sold at a foreclosure auction for just under $12 million on the courthouse steps.
The U.S. Dept. of Housing & Urban Development had the winning bid, although two others bid on the historic 510-unit housing complex that sits in the heart of the 18th & Vine Jazz District.
As was previously agreed, HUD then gave the property to the City of Kansas City (for $10) who then transferred the property to redevelopment partners Flaherty & Collins Properties and Twelfth Street Heritage Development Corp.
The complicated change in ownership of the property was agreed upon after Parade Park Homes were foreclosed on last year. City officials, recognizing the significant history of the property that had fallen into disrepair, put together a plan with HUD to redevelop the property. The City put out a request for proposals that had to include an option for home ownership possibilities, low-income housing, and some preservation of Parade Park’s history.
Four development proposals were received and the City Council voted unanimously in January to choose the proposal from a partnership of Flaherty & Collins and Twelfth Street Heritage, because “they are long-time developers in Kansas City with a shared vision for the future success of Parade Park.”
“Since my first week as a city councilman, as mayor, and through two presidential administrations, I have fought to return dignified housing and development to Parade Park, a crown jewel of Kansas City’s east side, our Black community, and our entire city,” said Mayor Quinton Lucas.
Flaherty & Collins and Twelfth Street Heritage have collaborated on redevelopment projects in the past, including nearly 200 affordable housing units at Jazz Hill Apartments. Alexis Williams, director of operations at Twelfth Street Heritage, says the project has been years in the making.
“This is the biggest development on KC’s east side that’s ever been done,” says Williams. “The east side deserves the same development and opportunities as anywhere else; for so long it’s been overlooked.”
What About the Residents of Parade Park
Of the 510 residences currently in Parade Park, only about 165 units are occupied. Developers have taken ownership of the property and are working to issue new leases but say they will not raise rent through the duration of construction, which is expected to be through 2030.
“Some residents have lived in Parade Park for 60 years,” says Williams. “This is home for them — and even though the conditions don’t look that way now — this was a place of joy where doctors, lawyers, and baseball players have all come out of Parade Park. We don’t want to just come in and disrupt their living.”
Parade Park Homes had a unique cooperative housing structure that allowed low-cost ownership options. The new developers have set aside 60 new units for ownership but say their plans are all preliminary and can be changed based on current residents’ input.
“We want the residents to feel like they are a part of this and have some input in the design phase,” says Williams. “Right now, it’s 60 [ownership opportunities] but if we find out that all the current residents want to own, we’ll work with them to try to figure that out and make it possible.”
HUD has issued Tenant Protection Vouchers (TPV) to Parade Park residents to help maintain affordable housing costs throughout the redevelopment. These vouchers will help cover the cost of rent to those who must move during redevelopment and also feature a right-to-return policy that ensures residents can return to their units after the redevelopment is complete.
“They won’t be displaced, we’ll be taking care of residents every step of the way,” says Williams. “When we start the construction, they will have a relocation specialist to help them move for the time being and then they will be the first one to come back and enjoy this new development project.”
A relocation specialist will meet one-on-one with residents to figure out their best options and assist with the logistics up to helping residents pack and move. Williams says that those with vouchers will pay the same rent indefinitely and that returning residents would only have a change in housing cost if they purchased a unit or opt for a market-rate apartment.
Developers say they will be in open communication with residents, have regular meetings, and have a monthly newsletter to keep residents informed. They also say they will seek resident feedback on the redevelopment project itself.
“We’ll hold town halls with residents to make sure they know what’s going on,” says Williams. “They’ll be part of the design, we’ll bring in architects and engineers to speak with residents about what they want and what that looks like.”
Redevelopment Plan
Developers’ preliminary plan puts $275 million into the property, and when finished, Parade Park would have more than a thousand residences, including apartments, townhomes, and senior housing. There would be small retail developments on the corners of the property, along with a park or green space.
“We promised to work with residents, and so we will include them,” says Willimas. “So while we have a preliminary design, anything can change based on their feedback.”
A substantial chunk of the property will be affordable housing units for those making less than 80% of the area’s average income. Williams says that the strongest communities are mixed-income, so the property will also feature market-rate apartments, senior living, and ownership opportunities.
Williams says that from start to finish, the project is expected to be completed in three phases over seven years. Groundbreaking is expected by the end of the year, with Phase 1 construction to start within 18 months.
Preliminary plans call for Phase 1 to include low-income, senior, and market-rate housing. Phase 2 integrates ownership opportunities along with low-income and market-rate housing. Phase 3 would include retail development, more ownership opportunities and market-rate apartments.
The redevelopment plan does call for a near-total demolition of the existing structures.
“The residents have made clear that they don’t want to look at the same buildings that they’ve been living in,” says Williams. “However, we do want to preserve the history in some way.”
Williams says that developers are working with the residents to figure out a way to honor the history of Parade Park. Current ideas include a wall of artifacts commemorating the families and history or somehow memorializing a metal playground slide that has been enjoyed by generations of residents.
