Hunt Midwest senior housing expands into Florida, Tennessee

Hunt Midwest is extending its senior housing reach outside the Kansas City region, announcing plans to build an 84-unit assisted living and memory care community in Royal Palm BeachFlorida.

The 76,200-square foot Capstone at Royal Palm will offer residents resort-style living in a secure environment, with Mediterranean architecture and amenities such as fitness center, bistro lounge, sunroom, walking trails, gazebo and dog park.

"To continue our growth in the senior housing space, Hunt Midwest began looking at dynamic markets in the southeast to develop first-class assisted living and memory care communities," said Ora Reynolds, president and CEO of Hunt Midwest. "About that time, the Village of Royal Palm Beach recognized a desire to provide its senior population with assisted living and memory care services in quality projects or risk losing their residents to neighboring communities. The timing was ideal for us to meet that need, which led to our purchase of this highly desirable infill site..."

In addition to the Royal Palm project, Hunt Midwest has signed contracts to purchase land in the fast-growing Nashville, Tenn. suburbs of Mt. Juliet and Gallatin, with plans to develop two additional Capstone communities in that market.

Hunt Midwest has aligned with nationally recognized operating partner Integral Senior Living for the Capstone at Royal Palm. Construction will begin this fall with an opening expected in late 2019.


Four new retail stores open in Belton Gateway

Four retailers have celebrated March grand openings in Belton Gateway’s $63 million second phase, including Marshall'sParty CityPetco, and Five Below.

Ross Dress for Less is scheduled to open later this spring in the $136 million, 47-acre mixed-use development located just west of I-49 at Y Highway. Kneaders Bakery opened in the summer of 2017.

“Belton Gateway is quickly becoming Cass County’s premier retail destination, thanks to its location and easy highway access,” said Belton Economic Development Director Carolyn Yatsook. “We are seeing a tremendous amount of activity in this corridor.”

In addition, the relocation of Turner Road has been completed and provides improved traffic flow to the North Scott redevelopment area. Additional pad sites are available for retail and restaurant development.

Developed by Christie Development, Belton Gateway’s two phases are master planned for a total of more than 182,000 square feet of developable space. The project’s $70 million Phase One is anchored by a 58,000-square foot Academy Sports and Outdoors store and a 55,000-square foot Hobby Lobby. Phase One has potential for construction of a 20,000-square foot hotel.

Five minutes with Valbridge President Laird Goldborough

Over the past decade, Valbridge Property Advisors in Kansas City has enjoyed double digit growth and seen its staff double in size. Formerly Shaner Appraisals, the company rebranded in 2013 and founded national firm Valbridge Property Advisors. The move led to access to national clients and a 20 percent uptick in customer growth over the past five years. MetroWire Media caught up with Valbridge President Laird Goldborough for insight into the Kansas City market and a look at what's ahead for the company.  

MWM: How did your 2013 founding of Valbridge change Shaner Appraisals?

Goldsborough: We shifted to a national platform. Shaner Appraisals, Inc. was a local company, and we now have national reach as well as access to larger corporate clients. In Kansas City, we were a dominant firm but were not nationally recognized. Now as Valbridge, we have a bigger seat at the table.

MWM: Some are predicting a market slowdown in 2019. What are you seeing?

Goldsborough: I am more optimistic. Kansas City is a low beta market, so there are not a lot of swings. The coasts tend to move up or down before we do. The number of construction cranes is crazy in Kansas City. Single-family is very active, and in the short term the only thing that may start affecting the velocity is an interest rate hike. I don’t really see a major slowdown any time soon. I have not seen any product that has ceased building. It’s been a nice run and cycles do end, but I don’t see the end in the near term.

MWM: You’re celebrating five years as Valbridge, but you’ve been around much longer than that. How has your leadership changed and how will it continue to evolve?

Goldsborough: This is the 40th anniversary of Shaner Appraisals, founded by Bernie Shaner. I purchased the company from Bernie, but he remains very active. We just announced the next generation of leadership with the appointments of Daniel Kann and Jason Roos to Managing Directors. These guys have done everything right. They work hard and are very smart, and we are happy to have them lead the firm into the future.

MWM: How is your role at VPA changing?

Goldsborough: I am seeing my role shift a bit toward mentoring, and I really love coaching and bringing people up through the system. I am a graduate of the HEMP program (Helzberg Entrepreneurial Mentoring Program), and it is all about giving back and mentoring the next generation. After graduating from that program, this succession planning makes a lot of sense.

 Valbridge Property Advisors Principals Bernie Shaner and Laird Goldsborough have announced a new succession plan for leadership that promotes Daniel Kann and Jason Roos to Managing Directors. Pictured above: Bernie Shaner, Daniel Kann, Jason Roos, Laird Goldsborough

Valbridge Property Advisors Principals Bernie Shaner and Laird Goldsborough have announced a new succession plan for leadership that promotes Daniel Kann and Jason Roos to Managing Directors. Pictured above: Bernie Shaner, Daniel Kann, Jason Roos, Laird Goldsborough

Changing retail trends drive shift in Price Brothers’ BluHawk plan

Price Brothers recently announced new plans for its $750 million, 277-acre mixed-use BluHawk development that includes a 300,000-square foot indoor multi-sport complex operated by Colorado-based Sport Stable. The $205 million, 59-acre first phase will launch with a new redesigned civic and community center and arena, indoor complex and hockey rink, as well as additional restaurant and retail.

Originally envisioned in 2006 as the home of Sporting KC, the project been modified to fit neighbors’ wishes.

“The key words here are evolve and adapt,” said Price Brothers President Doug Price. “The (professional soccer) plan didn’t pass the litmus test with taxpayers. They want only amateur sports here, and this is our response to that. It’s not a change of course, it’s more of a slight change in sporting components. It’s always been a family friendly sports, science and educational development.”

The new timeline moves the Cosmosphere project and retail outlet stores to Bluhawk’s second phase and is in response to changing consumer demands and retail shopping habits, according to Price Brothers VP of Development Bart Lowen.

“We recognize that retail has to evolve from what it was 10 years ago and can’t just be a shopping only experience. It has to move beyond that. It has to start at the periphery and offer other opportunities to experience when you are there,” Lowen said. “BluHawk will be a place where kids can go to practice, families can take in an event, visit the Cosmosphere, and enjoy the day.”

Bluhawk started going vertical in 2015 and has sold nearly all of its single-family home sites, according to a release. In addition, currently open are Shawnee Mission Health - South Overland Park, public safety administration building, Cosentino’s Market and other nearby retail, as well as the 159th & Antioch interchange.

"Bluhawk will be a place where active minds and energetic bodies can thrive. Some will call it home and some will visit frequently,” Price said. “To all, it will offer an intersection of health, knowledge and leisure. Bluhawk will be about well-being, learning and playing – a next generation destination designed for both today and tomorrow.”

Developer completes Longview Farms stabilization effort

The stabilization of four historic buildings at Lee’s Summit’s Longview Farm has been completed, setting the stage for full restoration of several structures central to the former show farm’s future redevelopment.

“These buildings serve as a historic cornerstone for Lee’s Summit’s New Longview development area and its $80 million in ongoing housing and commercial projects,” said Mark Moberly, Director of Development with Sunflower Development Group.

The stabilization project included structural repairs and weatherization related work to prevent further deterioration of two red-roofed barns, a farm house, a dairy manger house, and the show farm’s signature arch on the north end of the property.

The City of Lee’s Summit, along with Mariner Real Estate Management, now called Platform Ventures, and Sunflower Development Group, used tax-increment financing to cover costs of the stabilization effort. Full restoration projects will be completed with assistance from TIF district revenues to fund the additional improvements.

The City of Lee’s Summit worked with developers to inspect, plan and design the stabilization work, which will help ensure responsible redevelopment of both Longview Farms and the New Longview area, according to Lee’s Summit Mayor Randy Rhoads “Because historic redevelopment can be complicated and costly, the City was mindful of not over-investing in these structures. The goal was to stabilize, weatherize and shore up the buildings in anticipation of future investment,” said Mayor Rhoads.

In December, Sunflower Development Group announced it would complete $3 million in renovations to the 101-year-old Longview Mansion1200 SW Longview Park Dr., by late 2018.
Sunflower Development Group is known for historic restorations of several downtown Kansas City properties, including conversions to hotel, housing and other commercial uses.

Sunflower will secure private financing for the restorations, but public financial support is still needed to cover the extraordinary costs associated with stabilizing and rehabilitating the unique structures, according to Moberly.

“Working with the City of Lee’s Summit, State of Missouri and National Parks Service to secure the TIF and historic tax credits is extremely important due to the financial gap that exists with rehabilitating each property,” Moberly said.

While work on the Mansion began in February, the timeline for full rehabilitation of the remaining structures is uncertain due to the need for significant new construction commercial projects in the TIF, like a new theater, to happen first.

Sunflower Development Group maintains ownership of buildings it restores and leases them to tenants.

**Picture provided by Sunflower Development Group