Grayson Capital Acquires Kansas City, MO City-Owned Property, Will Develop Multi-Family Housing
October 25, 2023 / Nueterra Capital Marketing
Grayson Capital LLC, a minority-owned real estate development firm and Nueterra Capital portfolio company, has acquired 1.16 acres of formerly city-owned property in the rapidly growing East Crossroads neighborhood of downtown Kansas City. Originally priced at $2.6 million, Grayson Capital obtained the parcel at 1521-1531 Holmes for $400,000 plus equity participation payments between $500,000 and $2.1 million. Grayson Capital plans for the site to be the future home of Mohawk at 15th, a six-story apartment building that will deliver 190 new residential housing units. Twenty percent of the units will be set aside for renters earning up to 60% of the area median family income. Resident amenities will include a podium parking garage, at-grade parking, dedicated bike storage, electric vehicle charging stations, an electric vehicle car-share program, and a rooftop terrace. The ground floor of the development will include a 6,000 square-foot branch of the public fitness center The DogPound. You can read more in the Kansas City Business Journal.