- Best In Class Community with Unique Loft-Style Units
- Tax Abatement Benefit that Runs Through 2031
- Premium Live/Work/Play Location with Distinctive KC Conveniences
- Exceptional Quality, Turn-Key Community
- Urban-Infill Location with High Barriers to Entry
- Consistently Strong Performance Fundamentals
- Offered Free and Clear of Existing Debt
Best In Class Community with Unique Loft-Style Units
Piper Lofts is a 118-unit multifamily community that is the product of a 2008 historical rehabilitation of the landmark H.D. Lee Building into the luxury apartments it is today. The asset was developed to offer residents a unique, convenient, and stunning destination within one of the top submarkets in the region. Exceptionally high-quality construction is evidenced throughout Piper Lofts, where no stone was left unturned. This community offers a robust amenity package and high-end finishes throughout the unit interiors.
Tax Abatement Benefit that Runs Through 2031
Piper Lofts benefits from a 25-year tax abatement that runs through 2031, allowing for improved cash flow! The first period of the abatement ran 10 years, and the subsequent second period runs through 2031. During the last 15 years of the abatement (2017-2031), the asset benefits from an abatement of 50% of the real property taxes on the assessed value. There are no Payments in Lieu of Taxes (“PILOTs”) during this period. Special assessments, if applicable, will also be paid during this period.
Premium Live/Work/Play Location with Distinctive KC Conveniences
It’s been said that location is everything, and for tenants at Piper Lofts, that couldn’t be more accurate. The Crossroads Art District is a hub for some of the City’s largest art galleries and is a central gathering place for young urban professionals. Tenants enjoy immediate access to prized local shops, bars, fine restaurants, live music, and performances. This historic arts district is anchored by the Kauffman Center for the Performing Arts and is only walking distance from the T-Mobile Center and the Power & Light entertainment district.