After a year-long partnership with Gold Crown Properties, Inc., we are pleased to announce the grand opening of one of our latest projects, East 9 at Pickwick Plaza, a luxury apartment and retail community in Kansas City, Missouri. The team at UC Funds worked hard to structure a loan that would work for such a large-scale redevelopment. The borrower came to us after being let down by previous lenders, and it took us about a year to close the $30 million first mortgage loan for the project. With a total of $57 million capital stack, we were able to cover the redevelopment of four buildings, which take up an entire city block. We also helped the borrower arrange federal tax credits for redevelopment through the National Park Service.
![](http://ucfundsmco.wpengine.com/wp-content/uploads/2017/07/Pickwick-1-300x239.png)
The East 9 at Pickwick Plaza redevelopment covers an entire city block
East 9 at Pickwick Plaza has an incredible story. The four original buildings include an 11-story hotel, originally constructed in the 1930s, which was a home away from home for many presidents who visited Kansas City over the years. The other buildings are made up of a former bus terminal, a former office building, and a former parking garage. Now, after 22 months of construction, all four buildings are completely renovated, and astonishingly upgraded with locally-sourced artwork, chandeliers, sconces, and signage.
![East 9 funded by UC Funds](https://ucfunds.com/wp-content/uploads/2017/07/Pickwick-2WEB.jpg)
The main lobby is elegantly decorated with chandeliers and sconces created by local artist Joe Munson
![](http://ucfundsmco.wpengine.com/wp-content/uploads/2017/07/Pickwick-3-300x189.jpg)
The sophisticated units offer a comfortable living space with luxurious finishes
![The 260 units are located directly above more than 35,000 square feet of retail space](https://ucfunds.com/wp-content/uploads/2017/07/Pickwick-4WEB.jpg)
The 260 units are located directly above more than 35,000 square feet of retail space
![The Truman Living Room is just one example of the many amenities that East 9 at Pickwick Plaza offers](https://ucfunds.com/wp-content/uploads/2017/07/Pickwick-5WEB.jpg)
The Truman Living Room is just one example of the many amenities that East 9 at Pickwick Plaza offers
This spectacular renovation is sure to wow Kansas City residents, and we are proud of our relationship with Gold Crown Properties and their President, Tom Smith, which brought this redevelopment to life.