William is CEO of Twelfth Street Heritage Development Corp., which is redeveloping the Jazz Hill Apartments in conjunction with Flaherty & Collins Properties.
Twelfth Street Heritage, Flaherty & Collins start work on Jazz Hill apartments – Kansas City Business Journal
Closing on the historic Jazz Hill apartments near 10th Street and The Paseo in December fulfilled a longtime vision of Dwayne Williams, CEO of Twelfth Street Heritage Development Corp.
“The community doesn’t deserve to drive down that area and see abandoned buildings sitting there that once meant so much to a community,” Williams said. “The rich and famous used to live there, and to watch those buildings deteriorate over the years, I just felt that we as a city have done the original dream injustice.”
Jazz Hill Apartments LP, an entity connected to Twelfth Street Heritage and Flaherty & Collins Properties, acquired the site from Maxus Properties Inc. The $35 million historic preservation project began construction in January on almost 200 apartments in 11 large brick buildings, built between 1896 and 1906.
The apartment community on The Paseo consists of multiple pockets of apartments. In each pocket, at least 40% of units will be set aside for tenants earning up to 60% of the Kansas City area’s median family income — or $86,600 for a four-person household in 2021, according to federal census data.
Financing partners include Merchants Capital Investments of Indiana and Monarch Private Capital of Atlanta, according to Planned Industrial Expansion Authority documents. Maxus and the PIEA signed a development agreement in 2019 for the project, and Maxus transferred its development terms to Twelfth Street Heritage and Flaherty & Collins in 2021. These include a 25-year property tax abatement, at 100% for 10 years and 50% for the next 15, and a sales tax exemption on construction materials.
Flaherty & Collins and Twelfth Street Heritage aim to finish refurbishing the Jazz Hill Apartments by September of 2024.
In order to build strong communities a community must mobilize and sustain strong neighborhoods. Strong neighborhoods are the backbone to strong communities, inclusive of business growth and tax. Twelfth Street Heritage Development Corporation promotes community development through the following methods:
Staff works to educate leaders in the community who volunteer to learn about crime prevention,neighborhood safety, and home ownership.
Facilitating meetings between community leaders, volunteers, neighborhood associations, tenant association and the police department.
Along with the police department, training these entities to set strategic goals for reporting crime and drug activities.
In partnership with the police department, monitor the levels of crime and drug activities in their area through statistical data.
Distribute information regarding resources that will empower these entities to be proactive in creating a drug free and safe environment.
Bridge the gap between the adults and youth in the community by encouraging and soliciting their participation in the youth mentoring program.