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HYDE PARK APARTMENTS
336 W 36th St
KANSAS CITY MO, 64111
Contact Name:
Contact Phone: (816) 756-2710
Details: Dalmark took over management of Hyde Park Apartments in 2003, the project was on the verge of collapse. The property was originally built in 1924 as the Hyde Park Hotel in Midtown Kansas City Missouri. The age of the building and deferred maintenance created a situation where the Section 8 rents had been greatly reduced with no corresponding restructure of the FHA Insured financing. In order to achieve long term feasibility, Dalmark again worked with The Fifth District Economic Development Fund, Inc. for the assignment of the HUD held debt, and the $1,150,000 in debt which was assigned and not prepaid, along with equity from the sale of State and Federal Low Income Housing and Historic Rehabilitation tax credits, allowed for a very substantial rehabilitation of the project. The development team put approximately $70,000 in construction dollars per unit into the project in order to revamp the unit interiors, add a much larger elevator and restore the historic significance of the grand old hotel. The project has achieved stabilized occupancy under Dalmark's management and produces positive cash flow.
Website: https://www.dalmarkgroup.com/
Bedrooms Available: Studio, One Bedroom
Property Type: Subsidized, Low-Rent Apartment - Elderly
Utilities Included: N/A
To apply: Visit the management office for the apartment.
HYDE PARK APARTMENTS, Kansas City MO - Subsidized, Low-Rent Apartment
KANSAS CITY MO, 64111
Contact Name:
Contact Phone: (816) 756-2710
Details: Dalmark took over management of Hyde Park Apartments in 2003, the project was on the verge of collapse. The property was originally built in 1924 as the Hyde Park Hotel in Midtown Kansas City Missouri. The age of the building and deferred maintenance created a situation where the Section 8 rents had been greatly reduced with no corresponding restructure of the FHA Insured financing. In order to achieve long term feasibility, Dalmark again worked with The Fifth District Economic Development Fund, Inc. for the assignment of the HUD held debt, and the $1,150,000 in debt which was assigned and not prepaid, along with equity from the sale of State and Federal Low Income Housing and Historic Rehabilitation tax credits, allowed for a very substantial rehabilitation of the project. The development team put approximately $70,000 in construction dollars per unit into the project in order to revamp the unit interiors, add a much larger elevator and restore the historic significance of the grand old hotel. The project has achieved stabilized occupancy under Dalmark's management and produces positive cash flow.
Website: https://www.dalmarkgroup.com/
Bedrooms Available: Studio, One Bedroom
Property Type: Subsidized, Low-Rent Apartment - Elderly
Utilities Included: N/A
To apply: Visit the management office for the apartment.
HYDE PARK APARTMENTS Photos: (Click to enlarge)
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