More apartments coming to downtown Wichita

WICHITA, Kan. (KSNW) – The Wichita City Council will consider issuing Industrial Revenue Bonds on Tuesday to construct new apartments in downtown Wichita. The council will also consider a parking agreement with the developer.

According to documents, Vantage Point Properties, a Wichita-based company, plans to construct a five-story, 370-unit apartment complex northwest of Washington and Waterman. It will cost nearly $100 million to construct.

Vantage Point is seeking IRBs in an amount not to exceed $95 million to finance the costs of constructing the project. The developer also seeks a parking lease agreement of not more than 185 spots in Lot D, southwest of Intrust Bank Arena.

If approved, construction on the apartments could start soon, and they would be completed by 2027.

It comes ahead of the new bio-medical campus planned for downtown. Construction is expected to start in the spring and be completed in 2026.