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Promise Place, an 85-unit affordable housing development planned for Kansas City’s Ivanhoe Neighborhood, is reported to have begun construction. The $28 million project is planned for 4423 Olive St., with an opening projected for summer 2028.
What is planned for Promise Place?
Promise Place is planned on a three-acre vacant site at 4423 Olive St. The development is expected to include 85 homes across six housing buildings. The Kansas City Star reported the project cost as $28 million in October 2026; those figures and other project details below reflect that report, rather than an independent review of project records.
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The Nash Group, led by Kansas City native and former City Council member Troy Nash, is developing the project with Vecino, a Springfield-based housing developer. The report describes this as the partners’ second housing project together and says The Mabion in Beacon Hill opened the previous week.
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Where is the site, and what is nearby?
The address is 4423 Olive St. in the Ivanhoe Neighborhood, on Kansas City’s East Side. The site is reported to be a block from Prospect Avenue, which has multiple public transit points. The report does not identify specific stops, routes, or service schedules.
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Who is the housing intended to serve?
The reported target is residents earning between 30% and 80% of area median income (AMI). That is a broad eligibility range, not a set of household income limits or rent figures. The report does not provide unit-specific affordability levels, utility costs, or details about how eligibility will be determined.
It also does not say when leasing will begin or whether applications are available. Anyone seeking a home should wait for project-specific leasing and application information rather than assume that the reported income range means the development is accepting applicants now.
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What services and shared amenities are planned?
Planned shared features include a community room, fitness center, and management offices. Bring It Home, Inc. is named as the intended on-site tenant-services provider, with services focused on life skills and health and wellness. The report does not specify the service schedule or the details of the programming.
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The reported financing sources are state and federal tax credits, Kansas City’s Housing Trust Fund, and the Central City Economic Development sales tax. The report does not give amounts for individual sources or a complete breakdown of the project’s capital stack, so the $28 million reported cost should not be read as a source-by-source accounting.
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When is Promise Place expected to open?
The report gives summer 2028 as the anticipated opening. This is a projection, not a confirmed completion date; the report does not provide a construction schedule or milestone dates.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the developer said about the project
In remarks attributed by the Kansas City Star to a news release, Troy Nash said: “I grew up in Section 8 housing in the Third District. I know these streets, and I know what it feels like when a neighborhood gets passed over,” Nash said in a news release. “Cutting a ribbon on Wednesday and putting shovels in the ground on Thursday, a few miles from where I was raised, is not just a business milestone for me. It is a promise kept to the community that raised me.”
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