Hunt Capital Partners Celebrates Town House Grand Opening in Downtown Kansas City, Kansas

KANSAS CITY, KS, Oct. 4, 2022 – Hunt Capital Partners, in collaboration with Town House Community Development Corporation (“Town House CDC”) and UMB Bank , celebrated the significant renovation of Town House, formerly known as Cross Lines Tower. The grand opening ceremony will take place at 1021 North 7th Street in downtown Kansas City, Kansas from 5:00pm to 7:00pm on Tuesday, October 4th, 2022.

The building originally opened in 1951 as the Town House Hotel and, until 1969, held the distinction of being the tallest building in Kansas. The hotel was originally converted to affordable housing in 1981. Complete with modern amenities, the newly renovated building offers 130 high-quality, affordable units with a mix of one- and two-bedroom options for seniors age 55 and older earning between 30 and 60 percent of the area median income.

"We feel this is truly a wonderful addition to a growing Downtown Kansas City, Kansas,” said Town House CDC President of Board of Directors Pat Jordan.?“We’re proud to be able to retain a piece of the City’s history, while also providing a reinvigorated affordable housing option for the community.”

Resident amenities at Town House include a meeting room, tenant lounge, outdoor patio and garden area, community room with full kitchen, communal laundry facilities and more.

UMB Bank provided $25.5 million in construction and equity bridge loans and, through Hunt Capital Partners, a $17.4 million low-income housing tax credit (LIHTC) equity investment to fund and finance this $42 million investment. KeyBank provided the permanent financing.

“We’re thrilled to join our partners in celebrating the completion of this project for low-income seniors,” said Hunt Capital Partners Managing Director of Investor Relations Amy Dickerson.?“Providing affordable housing for communities creates stability especially in times like these when rents are far outpacing incomes.”

Town House CDC’s development team for Town House include Rau Construction Company as the General Contractor; Foutch Brothers as the project architect; Universal Management, Inc. as the property manager; and Hughes Development and Tier 1 Development Group LLC as the co-developers.

“The newly remodeled Town House will be a wonderful asset and will continue to provide affordable senior housing in downtown KCK,” said Hughes Development & Universal Management, Inc. President & CEO Robert Hughes.

Additional financial partners include: Commerce Bank , Kansas Housing Resources Corporation , Kansas Development Finance Authority and the North East Economic Development Corporation.?

Environmental Social and Corporate Governance (“ESG”) Investing

Hunt Capital Partners recognizes that its institutional investors are seeking to increase the social value of their investments to help further their ESG initiatives. An investment in affordable housing not only improves the living conditions of its residents, but it also helps to remove obstacles that stand in the way of creating a healthy, safe and stable home environment for low-income families and seniors. When families spend less on housing related expenses, they have more resources available for other essentials such as food and clothing, or even extracurricular activities and educational programs. One of the most significant benefits to providing quality affordable housing is an increase in an individual’s physical and mental health. Hunt Capital Partners’ affordable housing investments create a lasting effect on the people and communities they serve for generations to come.

About Hunt Capital Partners

Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds.?Since?its?inception in 2010, HCP has raised over $2.8 billion in tax credit equity in over 47 proprietary and multi-investor funds.?HCP?manages almost 760 project partnerships representing over 75,000 homes in 51 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit?www.huntcapitalpartners.com, or for Hunt, please visit?www.huntcompanies.com.