Residents are starting to move into a new luxury apartment building with hundreds of units near the University of Kansas Health System in the Rosedale neighborhood. Developers Hunt Midwest and LANE4 Property Group announced in a news release that The Hudson, a 228-unit building off Rainbow Boulevard and West 36th Avenue in Kansas City, Kansas, has opened with its first residents officially moved in. Hunt and LANE4 worked with the nonprofit KU Endowment on the five-story building, which replaced an older 44-unit complex that was demolished. The developers aimed to meet the growing need for housing among medical professionals and students as the KU Med campus expands.
"The Hudson’s timeless luxury, boutique hotel vibe, and state-of-the-art technology offer an unparalleled living experience in a convenient location attractive to busy professionals and the nurses, doctors, researchers and students working across the street at the world-class University of Kansas Health System campus,” Ora Reynolds, Hunt Midwest president and CEO, said in a statement.
Amenities in The Hudson include a hotel-style lobby, fitness center, yoga room, coworking space, game room, rooftop terrace, outdoor courtyard with a heated pool and parking structure. Available units include studios, one-bedrooms and two-bedrooms. The “base rents” before any mandatory or optional fees start around $1,400 a month for a studio and $2,900 a month for a two-bedroom.
The property previously generated $47,000 a year in property taxes each year, according to Wyandotte County documents. The financial deal for the project with the Unified Government includes a property tax exemption, and the Hudson’s ownership will instead pay an average of $230,000 each year for 10 years, or $2.3 million over a decade. After that, the property is expected to bring in over $1 million a year in property tax revenue.
The new building’s name pays homage to the former name of Rainbow Boulevard, Hudson Road, which was renamed in 1919 to honor returning World War I veterans who were in the Rainbow Division.
LANE4 has completed over $250 million of projects in the Rosedale neighborhood since 2012, according to the release, including two hotels, a mixed-use retail and medical development and renovation of older apartment buildings.
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