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Chicago & Midwest  + Midwest  + Apartments  | 

Arnold Development Eyes $224.9M Remake of Hardesty Federal Complex

Arnold Development Group looks to repurpose more than 1 million square feet of existing buildings with affordable housing and community-oriented uses in the Historic Northeast neighborhood, reported the Kansas City Business Journal.

The Kansas City developer has targeted a large-scale renovation of the 12-story Hardesty Self Storage building at 5401 Independence Avenue, as well as several surrounding two-story structures within the former Hardesty Federal Complex. The City Council last month cleared City Manager Brian Platt to enter a predevelopment agreement with Arnold, creating a framework for incentive requests and construction timelines for an estimated $224.9 million phased project across 22 acres southeast of Hardesty and Independence avenues.

Plans for the Northeast Market District include 587 mixed-income apartments, a 30,000-square-foot daycare facility, 41,000 square feet of retail space, a 19,000-square-foot indoor food hall, a 9,000-square-foot fitness center, a 5,000-square-foot health clinic, a farmer’s market, and a food truck plaza. Hardesty Self Storage was originally built in 1919 as the National Cloak & Suit Co. building.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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