- Truly Unique Asset – Largest Certified Passive House Apartment Community in the World
- Extraordinary 100% Concrete Construction Consuming Between 65% to 90% Less Energy than Comparable Buildings
- Exceptional Lease Up Speaks to the Asset’s Desirability & Quality – Efficiency & Concrete Construction Result in Quieter Units with Increased Renter Demand
- Significant Upside Through Market Standard Revenue Sources
- Strategic Location Near KC Streetcar, Retailers, & Highway Connectivity
- Offered with Attractive Assumable Debt
- Long Term Tax Abatement that Allows for Improved Cash Flow
Truly Unique Asset – Largest Certified Passive House Apartment Community in the World
Second + Delaware is currently the largest certified Passive House Apartment Community in the world and is truly built to a different standard! Passive Houses are energy-efficient buildings that can be used for residential, commercial, and industrial purposes, designed to reduce the building’s ecological footprint while cutting heating and cooling costs and lowering maintenance costs. Passive houses do this in multiple ways including higher levels of insulation, superior envelope airtightness, high-performance windows, and more! This means that compared to conventional buildings, it has superior indoor air quality and better thermal comfort, which enables tenants to enjoy a much more comfortable living environment. The energy efficiency throughout the building will lead to increased revenues and lower operating costs over the lifetime of the investment! Tenants also enjoy the peace and quiet of living in Second + Delaware as any outside/neighbor noise is truly deafened by the 16-inch-thick concrete walls!
Extraordinary 100% Concrete Construction Consuming Between 65% to 90% Less Energy than Comparable Buildings
Second + Delaware was uniquely designed and boasts 100% concrete construction, built to last over 200 years and to be extremely energy efficient. The building features triple-glazed windows, a green roofing system, LED lighting, and 16-inch insulated pre-cast concrete walls. In addition, there are 760 solar panels, and the HVAC system includes a dedicated outside air system for constant fresh airflow. As a result, the community consumes between 65% to 90% less energy than comparable buildings! This fully concrete structure also will enable new ownership to operate the asset for the long term, with lower insurance costs, and lower maintenance & turn costs compared to stick-built buildings!
Exceptional Lease Up Speaks to the Asset’s Desirability & Quality – Efficiency & Concrete Construction Result in Quieter Units with Increased Renter Demand
Second + Delaware delivered in late 2020 and experienced a phenomenal lease-up (during a global pandemic!), achieving stabilization in eight months which equates to a leasing pace of ~34/units per month! The extremely strong lease-up is proof that there is strong demand for sophisticated infill River Market rental communities.