Nestled in the heart of Kansas City, Missouri, the historic El Torreon Ballroom has been steeped in a history of community and music, from the Roaring ‘20s jazz era to the rock and roll revolution of the 1970s.

Built in 1927, El Torreon was designed as a jazz dance hall and modeled after the famed Aragon Ballroom in Chicago. It quickly became one of the hottest venues in town, boasting a 14-piece orchestra and attracting musicians from across the country. In the midst of the Jim Crow era, El Torreon was the first venue in Kansas City where jazz legends such as Cab Callaway, Duke Ellington and Count Basie played in front of largely white audiences.

As the Depression took hold, the venue fell on hard times and went into foreclosure. It eventually reopened in 1936 as a roller-skating rink and private event space with the first floor converted for automotive sales. The Ballroom remained a skating rink until 1970 when it was purchased by Universal Publications, which converted the first floor into publishing operations and the skating rink into a performance venue: the Cowtown Ballroom.

The Cowtown Ballroom hosted some of the great rock and roll bands of the early 70s, including Frank Zappa, Linda Ronstadt, Van Morrison, Steve Miller, and many others.

The Cowtown closed in 1974 and it was later used as a vintage car museum, music venue, and now as a church. Now, a new chapter is unfolding for El Torreon Ballroom. Thanks to the efforts of Bridgeport Church, Whitestone Company, and Rosin Preservation, the building is set to undergo a major renovation with $5.1 million in Federal and State Historic Tax Credits and is seeking $16 million in New Market Tax Credits (NMTC).

BUILDING FOR THE FUTURE

El Torreon’s redevelopment plans — designed by architect John Ho of Future Stories Consulting — will once again give the space a new life. The plan will reopen the 16,000-square-foot performance venue on the second floor while converting the first floor into community space and retail.

The revamped El Torreon will be available for weddings and music education, such as private lessons, music tech, and soundboard training. There are also plans for a first-floor café / brewery. The project will also increase engagement with CHES Inc., a non-profit financial empowerment organization, and other nonprofits that will have access to the venue’s community event space.

The project will be in part financed by the NMTC program, which aims to stimulate investment and economic growth in low-income communities that lack access to capital. Michael Bland, AltCap’s Director of Tax Credit Financing and Consulting Services, is assisting the redevelopment team with deal structuring and a community impact plan to attract up to $16 million in NMTC funds.

In Kansas City, NMTC credits helped fund new construction and renovations with such projects as the Linwood YMCA, Lyric Opera of Kansas City, and J.R. Rieger and Co. In Missouri, developers and organizations have leveraged more than $2.07 billion in NMTCs, according to the CDFI Fund. This federal program is used for a variety of projects, including health facilities, schools, manufacturing, arts and culture, retail, hospitality, and more.

Not only will the redevelopment of El Torreon Ballroom preserve a treasured piece of Kansas City history, but it will also support 50-75 full-time employees annually. The project represents a community partnership to bring new life to an iconic building and to serve Kansas City for generations to come.

ABOUT ALTCAP

AltCap’s mission is to grow communities by providing fair access to capital. Founded in 2005, AltCap has facilitated more than $250 million in New Markets Tax Credits and over $32 million in small business lending throughout Kansas, Missouri, Texas, Nebraska, and Colorado.

As a Community Development Financial Institution, we are committed to delivering accessible, patient financing to support job-creating businesses and catalytic real estate projects. Contact AltCap if you have questions about the New Markets Tax Credit program or would like to secure a small business loan.