Judge approves sale of Independence Towers; tenants demand fair lease agreements

Yahoo

27-04-2025

A Jackson County judge on Friday approved the sale of the troubled Independence Towers, a move aimed at continuing improvements at the apartment building in Independence.
Judge Charles McKenzie approved the sale of the building for $2.8 million to PG Independence Towers LLC, an Indiana limited liability company whose parent company is Dynasty Properties Inc., an Illinois corporation with ties to Vijai Ponnezhan.
Meanwhile, tenants in the Independence Towers Tenant Union have renewed demands to meet with Ponnezhan. They have attempted to reach Ponnezhan to request a meeting, but he has not responded, according to a news release.
'Vijai Ponnezhan now has the opportunity to end the cycle of neglect toward Independence Towers by meeting with our union and establishing a mutually cooperative relationship,' the tenant union said in a statement.
In his order, McKenzie noted his decision relied on the testimony earlier this month from Nancy Daniels, a Trigild vice president, who said that PG Independence Towers has other properties in the area and has demonstrated that it can continue improvements at the apartment building.
'The Court considers this testimony to be an important factor in the Court's analysis, because the character of the property includes that it is an apartment building where people live and call home,' McKenzie wrote in his order. 'The Court recognizes that the residents of the Independence Towers have a strong interest in the rehabilitation of the property and its capacity to serve as homes for the residents.'
The order approving the sale comes after a year-long legal battle involving lender Fannie Mae and the building's owner, 728 Jennings RD Partners LLC, which Kansas City real estate investor Parker Webb, the CEO of FTW Investments LLC, controls.
Fannie Mae contended that 728 N Jennings RD Partners failed to maintain the building according to its loan agreement and accelerated the loan payments. In February 2024, Fannie Mae sued the company and sought an emergency appointment of a receiver.
728 N Jennings RD Partners filed a counterclaim, accusing Fannie Mae of breach of contract and breach of good faith and fair dealing.
McKenzie appointed Trigild Inc., a San Diego-based company, as the receiver responsible for managing the troubled apartment building at 728 N Jennings Road in May 2024, replacing the former building management, Tango Property Management LLC, which FTW Investments owns.
Trigild filed a motion last month for permission to expedite the sale of the apartment building, citing the possible erosion of property value and an ongoing legal battle with tenants attempting to form a class-action lawsuit against 728 N Jennings RD, FTW Investments, its partners, and other related companies.
The proceeds from the sale would go to lender Fannie Mae to pay a portion of the outstanding loan balance and the receivership expenses. According to court documents, the sale would cover only about half of the more than $5.5 million owed by 728 Jennings RD Partners.
Residents have long complained about poor living conditions at Independence Towers, including issues with cockroaches, mice and other pests, and the lack of air conditioning, heat and hot water.
In May 2024, some residents formed the Independence Towers Tenant Union with the Kansas City tenants advocacy nonprofit KC Tenants.
An arson attempt in an apartment last June damaged several units on the lower floors of the building. In July, 3-year-old Tidas Bass fell to his death from an eighth-floor window. Moses Bass and Destiny Lee Randle are facing first-degree child endangerment charges. They have filed a civil lawsuit claiming the window lacked adequate locking mechanisms and other safety features that would have prevented the boy's death.
Meanwhile, multiple tenants have been withholding rent for seven months, in what organizers have described as the Kansas City area's longest-running rent strike.
The tenants plan to continue their rent strike until the new owner commits to meet and bargain a fair lease agreement, the tenants' union said in a news release.
'We formed the Independence Towers Tenant Union to stand up against treatment that can only be described as dangerous and inhumane,' the tenant union said in a statement. 'We are a community, and Independence Towers is our home.'
Previous reporting by The Star's Ilana Arougheti and Noelle Alviz-Gransee contributed to this article.