From ground up shopping center development, to ground up apartment building development, to mixed use, historic adaptive reuse, to specialized third party management, to industrial buildings, and consultation services, Homkor offers a wide, sophisticated range of real estate services.
Homkor is a real estate development company that has successfully completed many projects in several states across the U.S. over the past 3 decades. Homkor has focused on creating, enhancing, and improving communities through several selected projects that address aesthetic appeal, environmental and financial stewardship, and social responsibility. The firm has been the driving force behind the development of market rate and mixed income, mixed-use projects from the initial conceptual planning through the design and construction phases. Homkor manages the marketing phase through sell-out or lease-up on each project and beyond. .
With a concentration on urban-infill, public-private development projects, Homkor interfaces with various community groups and local government officials. Homkor emphasizes partnerships between the public, private, and community sectors, and is known for successfully bringing these groups together to complete projects. The result of these public-private relationships is that Homkor is able to enhance the feasibility of the private investment in its transactions by leveraging the public investment contributions in each project.
Homkor has also worked as a member of joint venture teams or on a project management basis; in most cases, serving as the long-term owner of the completed properties. Homkor has completed several development projects as the lead developer and managing partner, and also has projects currently underway in this capacity. More recently, acquisitions of historic properties in Kansas City, Missouri and Jacksonville, Florida have been Homkor’s focus for adaptive reuse and revitalization of the downtown urban core.
COMMERCIAL
CASE STUDIES
REDEVELOPMENT IS THE SOURCE OF REVITALIZATION
ARGYLE
One of the first redevelopment projects in the revitalization of historic downtown Kansas City after the 2008 recession, Homkor successfully brought The Argyle on 12th online to the delight of the city and the surrounding community, reactivating and repurposing a beautiful historic building that sat vacant for over a decade.
Utilizing HUD Market rate financing, historic State and Federal tax credits, city tax abatements, negotiating a lease and construction of an adjoining overwalk to a city parking garage, Homkor helped transform the urban core with much needed residential units as well as first floor commercial offerings to the neighborhood.
A NEW FACE FOR THE VILLAGE
An expert in property management and real estate services, Homkor is a founding member of the Columbia Apartment Association in Columbia, Mo. In 1996, an association member and local business owner, Ben Londeree, approached Homkor to assist in the management of The Village Apartments, a group of duplexes with 48 units.
The property had fallen into poor shape and occupancy was at an all-time low due to neglect and inconsistencies in maintenance and management. Homkor immediately went to work with a much-needed facelift, bringing the community together with a consistent look and feel. Shortly after, Homkor marketed the property and was quickly able to achieve maximum occupancy levels.
Once full, Londeree sought Homkor's assistance in selling The Village Apartments. Homkor sold the property on Londeree's behalf, and was retained as the property manager by the new owners.
CENTURY TOWERS
The University Hospital in downtown Kansas City, Mo. was forced to close its doors because of various changes in the health-care industry. The building sat vacant for more than a decade before the city decided something needed to be done. City planners and officials discussed redevelopment options for the property, but needed a more viable plan.
The city contacted Homkor to create a plan that would revive this portion of downtown. Homkor redeveloped the property, creating 237 residential apartments, and over 200,000 square feet of commercial, retail and office space, now known as Century Towers.
The feat of converting this single-use property took more than just creative architecture. Homkor also had to develop a creative, comprehensive plan to finance and market the property.
The Century Towers redevelopment project has not only been a tremendous success, but has been the cornerstone in the revitalization of this area of downtown Kansas City.
SELWYN PLACE
The historic 1919 Hamilton Brown Shoe factory, the largest building in the city of Boonville, Missouri sat vacant for over a quarter of a century and was in danger of being lost due to deterioration. Homkor acquired the building, conducted extensive research for the area to determine what was needed most, learning that there was a severe shortage of affordable senior housing inventory. Working closely with the city and the historical society to develop a plan, Homkor was successful in securing Missouri Housing Development Commission, city tax abatements and historical tax credit financing to transform the factory building into a beautiful affordable riverfront apartment community for 55+ adults, honoring and maintaining its historical significance for a win-win for the city, the historical society and the community.