Parade Park Homes set for transformation with $275M redevelopment plan

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Kansas City, Missouri – Kansas City Mayor Quinton Lucas celebrated a significant step forward in the city’s housing sector with the successful foreclosure sale of Parade Park Homes. This property, known for being one of the nation’s oldest Black-owned housing cooperatives, has been acquired by the City of Kansas City. The city then conveyed it to Flaherty & Collins Development and Twelfth Street Heritage Corporation—organizations praised for their community commitment and understanding of Parade Park Homes’ value to Kansas City’s heritage.

A New Chapter for Parade Park Homes

This acquisition sets the stage for a transformative $275M redevelopment plan aimed at revitalizing Parade Park Homes. The ambitious project promises to introduce over 1,000 new, dignified housing units, including specifically designed affordable senior housing and homeownership opportunities catering to residents across various income levels.

Read also: Wyandotte County looks to transform former Indian Springs Mall site into multi-use community hub

Mayor Lucas expressed his longstanding dedication to revitalizing Parade Park, emphasizing the area’s significance to Kansas City’s East Side, the Black community, and the city as a whole. He highlighted the collaborative efforts with the Biden-Harris Administration and the U.S. Department of Housing and Urban Development (HUD), along with local representatives like Congressman Emanuel Cleaver, to ensure the project’s success and its alignment with the city’s commitment to preserving affordable housing.

Following the sale’s closing, HUD’s contractor, Leumas Residential, handed over property management responsibilities to Flaherty & Collins Management, Inc. This transition paves the way for new engagements with residents to establish new leases and inform them about the upcoming changes. HUD authorized Tenant Protection Vouchers (TPVs) administered by the Housing Authority of Kansas City for current eligible residents of Parade Park Homes starting March 12, 2024, the day after the sale. This initiative guarantees that eligible residents will continue to have access to affordable housing options, while those not eligible for a TPV will be offered an affordable unit post-redevelopment.

Read also: Over $60 million awarded for building improvements at Whittaker Courthouse in Kansas City under President Biden’s Investing in America Agenda

The redevelopment of Parade Park Homes marks a significant milestone in Kansas City’s ongoing efforts to ensure access to quality and affordable housing for all residents, reinforcing the community’s commitment to inclusivity, dignity, and respect for its historical roots.

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