Monarch Private Capital Expands State LIHTC Investment Into Kansas
June 25 2024 - 8:00AM
Monarch Private Capital (Monarch), a nationally recognized impact
investment firm that develops, finances and manages a diversified
portfolio of projects generating both federal and state tax
credits, is pleased to announce the financial closing of its first
Kansas Low-Income Housing Tax Credit (LIHTC) project, Canyon Creek
Apartments. This monumental project marks a significant milestone
in affordable housing for the state, offering more than 200 units
in five multi-story buildings located within the 112-acre Cedar
Canyon West mixed commercial and residential development on the
Lenexa’s far western side.
The new construction of the Canyon Creek Apartments is designed
to provide residents with modern, high-quality living spaces with a
range of exceptional amenities. The approved plans include a game
plaza, dog park, fitness area, exercise room, pavilions, hammocks,
clubhouse and a nature trail, ensuring a vibrant and engaging
community for all residents.
"We are thrilled to invest in our first State LIHTC project in
Kansas following the enactment of House Bill 2237," said Brent
Barringer, Partner and Managing Director of LIHTC at Monarch. "The
Canyon Creek Apartments, one of the first Kansas Affordable Housing
Tax Credits awarded, will not only provide much-needed affordable
housing but also enhance the quality of life for its residents with
an array of amenities designed to foster community and resident
well-being."
The project developer, Overland Park-based MRE Capital, brings
their expertise in creating innovative and sustainable housing
solutions to Canyon Creek Apartments. Their commitment to quality
and community-focused development aligns seamlessly with Monarch’s
mission to invest in projects that deliver both economic and social
benefits.
Cedar Canyon West is a thoughtfully planned mixed-use
development that integrates residential and commercial spaces,
creating a dynamic and convenient living environment. The addition
of Canyon Creek Apartments to this development underscores Monarch
Private Capital's commitment to investing in projects that generate
positive community impact and sustainable returns.
Monarch specializes in financing projects that generate positive
community impact and sustainable returns. The Canyon Creek
Apartments project exemplifies this mission by addressing the
growing need for affordable housing while contributing to the
economic vitality of the Kansas community.
Construction of the Canyon Creek Apartments is underway and is
expected to be complete in December, 2025.
For more information on Monarch’s affordable housing tax equity
investments, please contact Brent Barringer by emailing
bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that
positively impact communities by creating clean power, jobs and
homes. The funds provide predictable returns through the generation
of federal and state tax credits. The Company offers innovative tax
credit equity investments for affordable housing, historic
rehabilitations, renewable energy, film and other qualified
projects. Monarch Private Capital has long-term relationships with
institutional and individual investors, developers, and lenders
participating in these federal and state programs. Headquartered in
Atlanta, Monarch has offices and professionals located throughout
the United States.
CONTACTJane Rafeedie Monarch Private Capital
jrafeedie@monarchprivate.com470-283-8431