Built in 1948, the Colonial Gardens Apartments overlooked Kansas City’s famed Country Club Plaza for 60 years. The three-building complex contained two bedroom townhomes (with basements) and was a block away from a host of restaurants, retail stores and office buildings.

In the fall of 2005, Cohen-Esrey Equity Partners III, LLC acquired the property and during 2006, proceeded to convert it to condominiums. The name was changed to 46 Jefferson Condominiums and the conversion included extensive physical improvements, the most prominent being the consolidation of the small upstairs bedrooms into a single large bedroom with a vaulted ceiling.

The individual units were gutted and completely re-built. Hardwood floors were restored; a modern bathroom was installed; state-of-the-art kitchens were constructed, a bathroom was added in the basement along with personal workspace, all windows were replaced, new roofs were installed, parking was added and the property was re-landscaped. All 22 units were sold within nine months at prices ranging from $196,000 to $224,000. Missouri Neighborhood Preservation tax credits were issued for 16 of the units.