KANSAS CITY, Mo.--(BUSINESS WIRE)--Sep 28, 2026--
Hunt Capital Partners, in partnership with Riverstone Platform Partners and Kansas City Metropolitan Lutheran Ministry (MLM), announced today the financial closing of The Alexandria, a $17.1 million rehabilitation of an existing affordable housing community located at 1328 E. Armour Boulevard in Kansas City, Missouri.
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“Every week we see another affordable property somewhere in this country convert to market rate, drop out of its HAP contract or get run into the ground by an owner who has stopped reinvesting,” said Kelley Hrabe, Founder and Managing Partner of Riverstone Platform Partners. “The Alexandria is proof that there’s another way. The team stepped in, rebuilt the capital stack, and recommitted this property to affordability for decades. Fifty-five families get to stay in their homes, in their neighborhood, without the fear of displacement, and that’s the whole point of this work.”
This development, led by Riverstone Platform Partners and co-developed by Kansas City Metropolitan Lutheran Ministry (MLM), will bring 55 new homes, rehabilitating two four-story buildings originally constructed separately in 1923 and later connected with a shared elevator and lobby system serving all four levels. It was then last renovated with LIHTC equity in 2006. The property is currently 94% occupied with a waiting list of six qualified households, a testament to the sustained demand for affordable housing in the area. In addition, the project has historically benefited from a Section 8 HAP contract that expires in 2029, which is expected to be renewed for 20 years.
"We are honored to once again work alongside Riverstone Platform Partners, Metropolitan Lutheran Ministry, and UMB Bank to provide affordable housing in the Kansas City metro area," said Jeff Weiss, President of Hunt Capital Partners. “The rehabilitation of The Alexandria will preserve homes for families who need them the most.”
Upon completion, The Alexandria will offer the following:
“We are proud to be the nonprofit partner of The Alexandria development that is not only preserving 55 homes of affordable housing but transforming them into beautiful places to live,” said Scott Cooper, Executive Director of Kansas City Metropolitan Lutheran Ministry. “We are excited to add this to our ever-growing portfolio of affordable housing.”
Financing for this project includes $9.1 million Federal Low-Income Housing Tax Credits syndicated by Hunt Capital Partners and $6.4 million State Low-Income Housing Tax Credits syndicated by Monarch Private Capital. UMB Bank provided a $13 million construction loan, and Cedar Rapids Bank & Trust provided a $4.5 million permanent loan.
“UMB is excited to play a role in the redevelopment of The Alexandria. Preserving buildings like The Alexandria is a great way to provide affordable housing to areas that are in need as housing costs continue to rise,” said Brady Ridnour, Vice President at UMB Bank. "We are proud to support the redevelopment of The Alexandria and to monitor construction progress in the coming months!”
About Hunt Capital Partners
Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $4.3 billion in tax credit equity in 49 proprietary and multi-investor funds, financing development in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.
About Riverstone Platform Partners
Riverstone Platform Partners is a developer of affordable, workforce, and attainable housing with more than 30 years of experience developing, financing, and managing high-quality communities across the central United States. The firm has developed or financed housing across a diverse portfolio, from historic adaptive reuse and senior communities to large-scale new-construction multifamily, in both urban and rural markets. Riverstone’s expertise spans the full development lifecycle: site acquisition and due diligence, complex capital structuring across public and private sources, construction, and long-term asset and property management. The firm has a proven record of structuring layered transactions and delivering them on time and on budget, while building durable relationships with state housing finance agencies, syndicators, lenders, municipalities, and nonprofit partners.
About The Kansas City Metropolitan Lutheran Ministry (MLM)
MLM is a nonprofit serving the Greater Kansas City Community through emergency assistance, supportive services, and affordable housing for 55 years. Striving to be the kind of property owner that people in affordable housing need, MLM is committed to not only providing housing but also the supportive services that the resident families need to continue to grow in self-sufficiency. With 133 units of owned affordable housing units, 245 units of wrap around supportive services, senior and veteran home repair, and 88 units of Rapid ReHousing, MLM has established themselves as a leader in Kansas City affordable housing.
The Alexandria existing exterior. Photo Credits: Hunt Capital Partners
SpaceX launched its enormous Starship into orbit for the first time Monday and successfully delivered the most advanced Starlinks yet, but cut the flight short to ensure safety.
The spacecraft reentered over the Pacific and splashed down north of Hawaii three hours after blasting off from Texas. The company had been aiming for a 10-hour flight, spanning six full laps around Earth, to prove its readiness for NASA’s Artemis moon program.
Starship tipped over and erupted in flames upon splashdown, a dramatic end to the mission.
Founder Elon Musk's Starship almost didn't make it to orbit when one of its engines shut down too soon. But with everything else working well and the bad engine no longer needed, flight controllers decided after several tense minutes to proceed as planned.
“Starship is orbital,” Mission Control announced to cheers.
NASA Administrator Jared Isaacman congratulated SpaceX on reaching orbit and “managing every step in a safe, responsible and especially inspirational way.”
Musk’s showpiece rocket — the biggest and most powerful ever built — carried 26 of the latest Starlink satellites to join the 11,000 older models already providing internet service. They popped out of the spacecraft one by one, drawing more cheers from the SpaceX crowds looking on from the launch site at Starbase, Texas.
The decision to end the flight early came soon afterward. No reason was provided.
It was Starship’s 14th full-scale launch from Texas’ southern tip in three years. The earlier test flights ventured no farther than the Indian Ocean halfway around the world, often crashing in flames and briefly skimming space.
This time, SpaceX was intent on circling the globe from an altitude of 170 miles (275 kilometers) — not just once but six times over almost 10 hours, ending with a Pacific splashdown near Chile. While Starship achieved the proper orbit zipping along at 17,500 mph (28,000 kph), flight controllers opted to play it safe and bring it back several hours sooner, after just a couple laps.
The first-stage booster was never meant to return to the Starbase launch site either, instead dropping into the Gulf of Mexico within minutes of the morning liftoff.
SpaceX wants to ensure that everything works before flying Starship back to Starbase. If the spacecraft breaks apart over land and rains debris onto people, “our popularity would diminish very rapidly,” Musk said at a business summit earlier this month. “That’s why we’re being extremely cautious here.”
Depending on the findings from Monday's orbital debut, the next Starship could return to the launch pad with giant mechanical arms grabbing the hovering spacecraft. If the catch works — Musk gives it even or slightly better odds — then SpaceX will refly the spacecraft by year’s end or early next year.
The 407-foot (124-meter) rocket was designed from the start to be fully reusable — a key to lowering launch costs. SpaceX managed to salvage the last Starship from the Indian Ocean in July. Engineers modified the newly launched Starship’s heat shield based on hands-on inspections from the recovered spacecraft, which is being tugged back to Starbase.
SpaceX is pressing hard to certify Starship for orbital flight, a vital step toward moon and Mars travel.
NASA’s Artemis III mission is coming up as soon as next summer, a triple-launch docking exercise in orbit around Earth between an Orion capsule full of astronauts and competing lunar landers. Jeff Bezos’ Blue Moon will blast off first, then Orion — which will close in for a linkup — then Musk’s Starship for a docking with Orion once Blue Moon is unleashed.
The next mission — Artemis IV slated for no sooner than 2028 — would have astronauts landing on the moon in either Blue Moon or Starship, whichever is ready first. Subsequent moonshots will alternate between the two billionaires’ landers.
Musk originally developed Starship for Mars, intending to launch scores of them with the red planet’s first settlers. For now, he plans to focus on the moon and use Starship to haul satellites into orbit by the truckload, phasing out the company’s frailer Falcon 9 rocket within several years. A second Starship launch site is nearing completion at Florida’s Kennedy Space Center and a third is planned for Louisiana.
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SpaceX's mega rocket Starship makes a test flight from Starbase, Texas, Monday, Sept. 28, 2026. (AP Photo/Eric Gay)
SpaceX's mega rocket Starship makes a test flight from Starbase, Texas, Monday, Sept. 28, 2026. (AP Photo/Eric Gay)
SpaceX's mega rocket Starship makes a test flight from Starbase, Texas, Monday, Sept. 28, 2026. (AP Photo/Eric Gay)
SpaceX's mega rocket Starship lifts off for a test flight from Starbase, Texas, Monday, Sept. 28, 2026. (AP Photo/Eric Gay)
SpaceX's mega rocket Starship makes a test flight from Starbase, Texas, Monday, Sept. 28, 2026. (AP Photo/Eric Gay)
A man watches at sunset as SpaceX's mega rocket Starship is prepared for a test flight from Starbase, Texas, Sunday, Sept. 27, 2026. (AP Photo/Eric Gay)
Seagulls fly near the site of SpaceX's mega rocket Starship as it is prepared for a test flight from Starbase, Texas, Sunday, Sept. 27, 2026. (AP Photo/Eric Gay)
David Orr camps out near the site where SpaceX's mega rocket Starship, behind right, is preparing for a test flight from Starbase, Texas, Sunday, Sept. 27, 2026. (AP Photo/Eric Gay)
David Orr rides his bike past SpaceX's mega rocket Starship as it is prepared for a test flight from Starbase, Texas, Sunday, Sept. 27, 2026. (AP Photo/Eric Gay)
