O'Reilly Development secures incentives on $35M KC redevelopment

Posted online February 10, 2014 | 5:25 am

Springfield-based O’Reilly Development Co. was approved Feb. 6 for a 15-year tax abatement by the Kansas City Planned Industrial Expansion Authority in support of its $35 million plan to redevelop the historic Folgers complex into 146 market-rate apartments.

Dubbed Roaster’s Block, construction will be led by Springfield-based general contractors Build LLC, with a groundbreaking ceremony in May. Two buildings comprising the complex, which dates back to 1912, became vacant when Folgers closed its plant at 7th and Broadway in downtown Kansas City two years ago.

The redevelopment project, which is the largest to date for O’Reilly Development, calls for 11 studio apartments, 101 one-bedroom apartments, 31 two-bedroom units and three three-bedroom apartments, with rents set at $1.42 per square foot. Construction is scheduled to be complete by late summer 2016, according to the Kansas City Star.

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