UNITED STATES

SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Item 1.

Security and Issuer

This statement on Schedule 13D relates to the common shares, par value $0.01 per share (the “Shares”), of Kite Realty Group Trust, a Maryland real estate investment trust (the “Issuer”).  The Issuer’s principal executive office is located at 30 S. Meridian Street, Suite 1100, Indianapolis, IN 46204.

Item 2.

Identity and Background

(a)                                  This Schedule 13D is being filed by Paul W. Kite (the “Reporting Person”).

(b)                                 The principal business address of the Reporting Person is 30 S. Meridian Street, Indianapolis, IN 46204.

(c)                                  The Reporting Person is the President of PK Capital, a consulting services company located at 30 S. Meridian Street, Indianapolis, IN 46204.

(d)                                 During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)                                  During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which the Reporting Person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)                                    The Reporting Person is a citizen of the United States.

Item 3.

Source and Amount of Funds or Other Consideration

Of the Shares beneficially owned by the Reporting Person, 2,000,925 were acquired in connection with the Issuer’s initial public offering on August 16, 2004.  Of these 2,000,925 Shares beneficially owned by the Reporting Person, 1,845,714 are issuable at the option of the Issuer upon the redemption by the Reporting Person of units of limited partnership of Kite Realty Group, L.P. (“Units”).  The Reporting Person acquired these Units pursuant to a Contribution Agreement by which the Reporting Person contributed to Kite Realty Group, L.P. his interests in certain entities, including entities that own or lease real property interests.  The Reporting Person also acquired in connection with the initial public offering 155,211 Shares pursuant to several merger agreements by which certain entities in which the Reporting Person was a stockholder merged with subsidiaries of the Issuer.  The Issuer’s initial public offering price of $13.00 per Share was used to determine the number of securities issued.

The Reporting Person has purchased 6,155 of the Shares beneficially owned by him in the open market with cash on hand from personal funds for an aggregate purchase price of $81,569.

Item 4.

Purpose of Transaction

As described in Item 3 above, 2,000,925 of the Shares beneficially owned by the Reporting Person were acquired in connection with the Issuer’s initial public offering on August 16, 2004 and 6,155 of the Shares beneficially owned by the Reporting Person were acquired in the open market.  The Reporting Person has acquired the Shares for investment purposes.  The Reporting Person may, from time to time, depending on market conditions and other factors deemed relevant by the Reporting Person, acquire additional Shares.  The Reporting Person reserves the right to, and may in the future choose to, change his purpose with respect to his investment and take such actions as he deems appropriate in light of the circumstances including, without limitation, to dispose of, in the open market, in a private transaction or by gift, all or a portion of the Shares which the Reporting Person now owns or may hereafter acquire.

Except as described herein, the Reporting Person does not have any present plans or proposals that relate to, or would result in, the acquisition of additional securities of the Issuer, the disposition of securities of the Issuer, an extraordinary corporate transaction involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of the Issuer’s or any of its subsidiaries’ assets, a change in the present Board of Trustees or management of the Issuer, a material change in the present capitalization or dividend policy of the Issuer, any other material change to the Issuer’s business or corporate structure, a change in the Issuer’s charter or bylaws or other actions which may impede the acquisition of control of the Issuer by any person, the delisting or deregistration of any of the Issuer’s securities or any action similar to the listed actions.

Item 5.

Interest in Securities of the Issuer

(a)                    As of the date of this report, the Reporting Person beneficially owns an aggregate of 2,007,080 Shares, which represents approximately 9.6% of the Issuer’s outstanding Shares.  Of the 2,007,080 Shares beneficially owned, the Reporting Person will have the right to receive cash or, at the option of the Issuer, 1,845,714 Shares beginning August 16, 2005 upon the redemption by the Reporting Person of Units.

(b)                   As of the date of this report, the Reporting Person has the sole power to vote or direct the voting of, and sole power to dispose or direct the disposition of, all of the Shares beneficially owned by him.

(c)                    The Reporting Person has not effected any transactions, other than those described herein, in the class of securities described herein during the past sixty days.

(d)                   Not applicable.

(e)                    Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Pursuant to a Registration Rights Agreement that the Issuer entered into with certain individuals and entities at the time of its initial public offering, the Reporting Person is entitled to certain registration rights with respect to the Shares that he acquired in the Issuer’s initial public offering as well as the Shares that may be acquired by him in connection with the exercise of the redemption/exchange rights under the Amended and Restated Agreement of Limited Partnership of Kite Realty Group, L.P. with respect to his Units. These registration rights require the Issuer to seek to register Shares acquired in the initial public offering beginning May 13, 2005 and all Shares acquired upon the exercise of redemption/exchange rights beginning on August 16, 2005.  This summary of the Registration Rights Agreement is qualified in its entirety by the full terms and conditions of the Registration Rights Agreement which was filed as Exhibit 10.32 to the Issuer’s current report on Form 8-K filed with the Securities and Exchange Commission on August 20, 2004 and incorporated by reference herein.

Item 7.

Material to Be Filed as Exhibits

Exhibit 1.                                                Registration Rights Agreement, dated August 16, 2004, by and among Kite Realty Group Trust, Alvin E. Kite, Jr., John A. Kite, Paul W. Kite, Thomas K. McGowan, Daniel R. Sink, George F. McMannis, IV, Mark Jenkins, C. Kenneth Kite, David Grieve and KMI Holdings, LLC.*

June 24, 2005

Date

/s/ Paul W. Kite

Signature

Paul W. Kite

Name/Title