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Development Portfolio

Over the years Dalmark has taken on the development of some extremely high level construction projects spanning investment grade conventional assets and developing multi-family properties in blighted areas. Below you can find examples of some of these projects:

Senior Properties

Brookridge Plaza
Derby, KS

Hyde Park Apartments
Kansas City, MO

Dalmark took over management of Hyde Park Apartments in 2003, the project was on the verge of collapse. The property was originally built in 1924 as the Hyde Park Hotel in Midtown Kansas City Missouri. The age of the building and deferred maintenance created a situation where the Section 8 rents had been greatly reduced with no corresponding restructure of the FHA Insured financing. In order to achieve long term feasibility, Dalmark again worked with The Fifth District Economic Development Fund, Inc. for the assignment of the HUD held debt, and the $1,150,000 in debt which was assigned and not prepaid, along with equity from the sale of State and Federal Low Income Housing and Historic Rehabilitation tax credits, allowed for a very substantial rehabilitation of the project. The development team put approximately $70,000 in construction dollars per unit into the project in order to revamp the unit interiors, add a much larger elevator and restore the historic significance of the grand old hotel. The project has achieved stabilized occupancy under Dalmark's management and produces positive cash flow.

Willow Bend Villas
Raytown, MO

Affordable Properties

Bancroft School Apartments
Kansas City, MO

In December 2012, Dalmark Development broke ground on what is now known as the Bancroft School Apartments in Kansas City, Missouri. By utilizing historic federal and state tax 9% low-income housing tax credits and philanthropic dollars, the $14 million redevelopment of the Bancroft School concluded with zero debt. By having zero debt, we were able to set aside 5 units with below market rents of $200 per unit for individuals with special needs. The project was honored with the SEED award for design and achieved LEED Platinum certification upon completion.

Basie Court Apartments
Kansas City, MO

Working with the Black Economic Union, Dalmark Development was able to address long-term deferred maintenance issues and reposition Basie Court Apartments into a stunning affordable multi-family housing community. Basie Court Apartments now serves as an economic catalyst for the Historic Jazz District in Kansas City, Missouri.

East Village Apartments
Kansas City, MO

Ridge Crest Apartments
St. Louis, MO

Santa Fe Trail Apartments
Leavenworth, KS

Villas of Autumn Bend
Blue Springs, MO

Meadow Ridge Townhouses was a troubled, 150 unit HUD Section 236 Cooperative. Dalmark prepared a redevelopment plan for the property that was approved by the cooperative's board of directors. Tax Exempt Bond financing under the Risk Share program and an allocation of 4% Low Income Housing Tax Credits from the Missouri Housing Development Commission were achieved in order to finance the acquisition and rehabilitation of Meadow Ridge Townhouses. In total, the project cost $12,860,000, with $6,050,000 going toward hard costs. The rehabilitated property is now known as The Villas of Autumn Bend. The property won the 2007 Governor's Award for Excellence in Rental Housing Production. MHDC won a national award for Program Excellence in the Rental Housing: Preservation and Rehabilitation category from the National Council of State Housing Agencies for their participation in the project.

Charless Place
St. Louis, MO

Conventional Market Rate Properties

Heer's Luxury Living
Springfield, MO

Heer's Luxury Living located in downtown Springfield, Missouri, began as the Heer's Department Store in 1915.When the store closed in 1995, the city and southwest Missouri lost an important historical landmark. After sitting vacant for nearly 20 years and several failed adaptive reuse projects by other developers, Dalmark Development acquired the building. The historic Heer's Building reopened in August 2015 as an 80 unit luxury apartment community complete with a game room, theater room, rooftop terrace clubhouse, and 18,000square feet of commercial space. The $15.8 million redevelopment was financed with federal and state historic tax credits, private equity, an SBD loan, and a construction loan.

Piper Lofts
Kansas City, MO

Piper Lofts, located in the Crossroads district of downtown Kansas City, Missouri, started out as the offices for the H.D. Lee Mercantile Company; better known as the Lee Jeans brand. The historic building was rehabilitated into 118 units of luxury apartments accommodating traditional loft living and nearly 40,000 square feet of commercial space. An adjacent parking garage with approximately 224 parking spaces provides the much needed downtown parking for our residents. Other amenities include a fitness center and a rooftop pool with stunning views of downtown. The mixed use commercial and residential building demonstrates the walkable urban lifestyle of the future.

West Hill
Kansas City, MO

In April 2013, the historic E.F. Swinney Elementary school was acquired by Swinney Development Partners, an entity owned and operated by Dalmark Development Group. Utilizing state and federal historic tax credits, the old school will be transformed into 71 luxury apartment units at a total cost of approximately $15.9 million. Planned amenities include an outdoor lounge, fitness center, and a community club space. West Hill is located just one block west of the Historic Country Club Plaza, and provides a short walk to all that the Country Club Plaza has to offer. West Hill is a mix of historic and new construction apartments. There are 33 historic apartments that feature 12-14 foot ceilings and large windows that fill the rooms with natural light. Also available are 38 new construction apartments with efficiently designed floor plans and accompanying balconies. All of the apartments have luxury finishes that include stainless steel appliances, quartz countertops, rich coffee colored cabinets, washer and dryers, and ceiling fans.