Panelists tackle trends and timely topics at sold-out MWM 2017 Multi-Family Summit

More than 170 guests attended MWM's 2017 Multi-Family Summit on Oct. 12 for breakfast, premium networking and a panel discussion moderated by Hunt Midwest's Brenner Holland. 

Here's a snapshot of panelist insights: 

“We are in a vibrant stage in my 25-year career. One of the leading indicators is the number of calls I get from lenders about sites from developers outside Kansas City, so that tells us that folks are either pooping out in some other markets and trying to come here, or they’re moving from different food groups into multi-family." -Jim Thomas, Cityscape Residential

“I think what has happened in Denver is similar to what has happened to California, where the prices have gotten astronomical and it’s unaffordable for virtually anybody at any income level... Quite honestly, I see Kansas City as the next Denver as people keep looking for more affordable places to live and work. We are certainly very well priced in the market for exceptional value.” -Aaron Rumple, Yaeger Architecture

“Boomers want larger units and more bonus space or an extra den area. Storage is very important to them. Millennials, on the other hand, are more concerned about walkability. They value space a little less and they place more value on amenities and the social aspect of amenities spaces in technology.” -Justin Duff, VanTrust Real Estate

“The amenity stuff keeps getting better and better, particularly with pools and clubhouses. On the technology side, we’re adding USB outlets inside the units and trying to accommodate what’s going to be standard technology as it grows. We’ve built penthouse units for a couple of projects. Those are the first to go, and usually the Boomers get them." -Aaron Neighbors, Neighbors Construction

“The new stuff is always going to fill up, and the reason is that those offer the best property and best amenities. It’s where people want to live. So we are building in places where the jobs are going, and then it’s not a question of ‘Will the new stuff fill up?’ It’s a matter of, ‘At what number will it fill up? Will you meet the pro forma, and will you hit your rents?' " -Aaron Mesmer, Block Real Estate Services

“Paramount to any development is having the best site selection-- access to highways, jobs and amenities-- because when people move into an apartment anymore, there are so many good options out there, you really have to have that ‘wow’ factor. So you need to be able to have people move into something where there’s a sense of place and they have to feel that they have 'arrived' somewhere.” -Mike McKeen, EPC Properties

“I think Kansas City-- the municipality-- really wants to expand opportunities for economic diversity. A lot of projects that we are seeing in the Historic Northeast area are all mixed-income products, so you are divvying up affordable versus market rate and really bringing more diversity into the neighborhood.” -Rachel Treanor, 4Sight Construction Group

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Hunt Midwest development team breaks ground on Downtown Overland Park mixed-use project

Construction is underway at The Vue in Downtown Overland Park, a $49 million mixed-use project that will include 219 luxury apartments above 10,000 square feet of ground-floor retail, and an attached 324-space parking garage. Developer Hunt Midwest and project partners held an official groundbreaking ceremony adjacent to the 2.5 acre construction site at 80th and Marty streets on Tuesday, April 4.

“Hunt Midwest wanted to create an urban living concept that offers chic finishes and conveniences that ‘renters by choice’ desire, while giving special attention to the building’s exterior, ensuring the design reflects the charming character and architectural style of Downtown Overland Park,” Hunt Midwest President and CEO Ora Reynolds said.

The Vue is located within walking distance to nearby attractions including the Matt Ross Community Center, Overland Park Farmer’s Market, historic Rio Theatre and newly designated Downtown Arts District. The City of Overland Park hopes the project, which repurposes an underutilized site in a prime location, will draw hundreds of new residents and customers to existing downtown businesses.

“While in the early stages of construction, we’re already seeing interest in The Vue- from Millennials to Baby Boomers- that is adding to the community’s excitement in historic Downtown Overland Park,” Overland Park Mayor Carl Gerlach said.

Outdoor amenities will include a resort-style pool area with bar and grill, lounge seating and covered bike racks. Inside, The Vue’s clubhouse will include a fitness center, coffee lounge, game rooms and a shared kitchen - all connecting to an outdoor deck that overlooks downtown. The project’s design reflects the changing environment of apartment living, according to Rob Welker, Hoefer Wysocki Architecture president and partner.

“Residents want to feel connected to their neighbors and have the opportunity to interact and engage with each other. The Vue portrays experiences through multiple types of interactions, delivered in spaces that accommodate a wide range of needs,” Welker said.

The Vue blends Hunt Midwest’s experience in luxury multifamily development with its award-winning infill redevelopment expertise, according to Brenner Holland, Hunt Midwest vice president of residential development.

“A rewarding aspect of the project involved making sure its design fit in with the existing style and vibe of Downtown Overland Park while adding fresh and innovative features,” Holland said. “This is a high-visibility location, so we really wanted to create an eye-catching addition to the heart of the city that enhanced revitalization while bringing new residents into downtown.”

Reynolds thanked the City of Overland Park for its support of The Vue, which is expected to open in the second half of 2018. Hunt Midwest’s development team includes: McPherson Contractors, general construction; Hoefer Wysocki Architecture, architecture and design; Olsson & Associates, engineering services; Bank Midwest, financing; and Greystar, leasing and property management.