Work is expected to begin this summer on the $51 million renovation of the former CPI Corp. headquarters in downtown 最新杏吧原创 as apartments and a preschool.
Michael Knight, the Kansas City developer who bought the building in January, said Thursday the historic structure will get 168 market-rate apartments and a preschool called Spectrum Station.
Interior demolition of the building at 1706 Washington Avenue could begin in July or August, followed by the start of full renovation in September and move-ins beginning a year later, he said.
Monogram is the project鈥檚 name in keeping with the nine-story building鈥檚 original name when it opened in 1910 as a millinery factory and warehouse in the city鈥檚 garment district. The nine-story brick and terra cotta structure is on the National Register of Historic Places.
Knight, a partner in Revive Capital Development, said he will use state and federal historic preservation tax credits to help finance the project. In addition, the project will get 10 years of property tax abatement.
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Planned are 112 one-bedroom and 32 two-bedroom apartments, plus 24 studio apartments. Monthly rents will range from about $900 to $1,500.Knight said apartments will have 鈥渉igh-end鈥 finishes with wood floors, carpeted bedrooms, ceramic tiled bathroom, high-efficiency kitchen appliances. Planned building features include bike storage and a rooftop pool.
Spectrum Station, a day care center and preschool for about 200 children, will occupy part of the Monogram鈥檚 first floor. A playground will go on what is now the parking lot on the building鈥檚 west side.
Residents will park on the lot to the building鈥檚 east. Sixteenth Street will be widened to allow two-way traffic and provide some parking for what is expected to be a Lucky鈥檚 Market in the Ely Walker lofts building at 1520 Washington, Knight said.
The Monogram鈥檚 plan calls for closure of 17th Street next to the building to provide room for a dog park and more parking for residents. Some downtown residents oppose the street closure.
Knight said that at the request of a national retailer, he had drawn up a plan for an apartment building on the east parking lot. He said he dropped the plan when the retailer, which he did not identify, decided not to occupy the first floor of the building considered for the site.
