Overland Park

Overland Park receives nation’s first LEED zero energy commercial project

In a collaboration between U.S. Green Building Council (USGBC) president and CEO Mahesh Ramanujam, and Brookridge developer Chris Curtin, a first-of-its-kind Memorandum of Understanding has been signed, forging a partnership that will create an ongoing process to achieve LEED and LEED Zero Energy certifications for Brookridge Development in Overland Park.

Brookridge, a cross-generational 200+-acre mixed-use development, will feature nearly 2 million SF of office capacity, high-quality urban living spaces, extensive retail, restaurant and entertainment venues.

It will also spotlight a multi-faceted focus on health and wellness, including approximately 50 percent green space, fountains, recreational golf, fitness facilities, miles of walking paths, connections hike/bike trails and both forested and open lawns.   

Brookridge will tap into the abundant supply of wind and solar sourced energy produced in the State of Kansas to address the goal of significantly reducing the carbon footprint of the project.

In recognition of the unique nature of this partnership and its focus on wind and solar generated energy, the State of Kansas has also joined the effort.

Last week, Kansas Secretary of Commerce David Toland co-signed the Brookridge Renewable Energy Initiative, placing the state at the forefront of sustainable development.

“The Brookridge development, with the support of the State of Kansas, is thinking differently in terms of how our spaces can be designed to support environmental and personal health. LEED is providing the framework and their commitment to achieve LEED Zero Energy is yet another sign of their leadership and drive to create a better world,” Ramanujam said.

Chuck Caisley, KCP&L (Evergy) senior vice president and chief customer officer, also joined the State of Kansas in endorsing the Brookridge Renewable Energy Initiative.

“Kansas is different than coastal or mega-cities. Great things happen when our public and private sectors work in close partnership. We create the synergy necessary for significant environmental and joint economic success,” said Curtin, founder of Curtin Property Company.

The comprehensive Green program at the Brookridge development is also designed to work harmoniously with Overland Park’s dedicated visioning and planning efforts laid out in the initiatives of the City of Overland Park.

“The leaders of Overland Park set forth a set of ideas around a built environment that is both sustainable and visually impactful, further advancing the community’s destination for business development, entertainment, leisure and family time,” Curtin said.

 “A project of the size and scope of the Brookridge development – along with the commitment being made to it – will serve to put the State of Kansas at the forefront of sustainable development,” added Kansas Governor Laura Kelly.

Other partners involved in the project include WDG Architects - Land Planning and Architecture and GBA - Civil Engineering.

Overland Park named new HQ in $75 Million, multi-company merger

Overland Park named new HQ in $75 Million, multi-company merger

The new headquarters for Bravos LLC is based in Overland Park, Kansas. Photo courtesy of Elevated Electronics.

EPC's McKeen sees stability in KC multifamily market

By Marcia Charney | MWM Contributing Writer

Stable. Steady. Cautious. Opportunity.

Those are the words Mike McKeen is using these days to describe the state of Kansas City’s apartment market. The principal and president of EPC Real Estate Group, LLC spoke to a record-breaking crowd of more than 150 brokers and real estate professionals at the April meeting of the Kansas City chapter of CCIM

Areas that will continue to succeed in the multifamily market will have “charm, character and are walkable, with jobs in good proximity,” McKeen said, noting that strong players currently include Lenexa City Center, downtown Overland Park, Olathe, Mission; and downtown Kansas City, Missouri, which leads the area in multifamily development. 

The living preferences of Millennials are driving the market. Some of EPC’s current products are Millennial-based, including Avenue 80 in downtown Overland Park, where Millennials comprise 70 percent of the tenant base. Empty nesters, who no longer want to maintain their homes and are seeking to live life a little differently, are another growing tenant segment.  

McKeen discussed how e-commerce is changing multifamily development. With the explosion of package delivery, developers are installing electronic parcel delivery systems, which allow tenants to retrieve packages by entering a security code. McKeen said that without these delivery systems, the buildings would need a massive storage room for delivered packages and staff to monitor receipt and storage.

McKeen said that developers now have to consider for the first time the amenities and unit size that Generation Z wants. He stated that studio apartments are the “quickest thing to fly off our lists right now because they hit a certain price point of affordability but they also cater to that lifestyle of people who spend most of their time playing video games.” McKeen added that the amenity most requested by Gen Z is blackout shades for better game screen visibility. 

McKeen discussed the challenges currently facing multifamily developers which include a decline in the number of skilled craftsmen; the threat of tariffs, causing suppliers to raise prices to offset the impact of possible future tariffs on costs; future tax treatment; the passage of city ordinances which impact the use of development incentives; aging infrastructure; low supply and high demand, particularly for precast concrete products; and rising operating costs.

McKeen also recognized new opportunities for multifamily developers such as the creation of new inventory to meet the demands of Millennials and empty nesters, affordable housing, and opportunity zones. In addition, new product types like micro-units, which range in size from 350 to 500 square feet, are in high demand with rising rents.  

Noting that “site selection is everything now,” McKeen said the average occupancy of multifamily properties in the Kansas City area has remained steady, staying between 93 and 95 percent.  

 

Sprint HQ buyer Occidental eyes acreage adjacent to OP campus

Wichita-based Occidental Management expects to close on the Sprint Campus in the next 30 days. CEO Gary Oborny and President Chad Stafford talked with MetroWire Media about what led to the acquisition and plans for the sprawling Overland Park campus and adjacent land.

MWM: When did you first become interested in buying the Sprint campus?

Oborny: We heard that Sprint was looking at divesting at some point, so we started following opportunities to get closer to the situation and look at how we might connect on a potential deal. We sat back while Sprint figured out what to do. Then we contacted Cushman & Wakefield when the property was placed with them for a national search last year.  

MWM: How did your 2014 purchase of the former Overland Park International Trade Center (OPx) adjacent to the Sprint campus play into the acquisition?

Oborny: OPx was our introduction into the market. It helped us build relationships in Kansas City and Overland Park, so the Sprint campus was a natural fit. 

MWM: What is your short-term game plan for the campus?

Oborny: We want to enhance existing amenities and bring additional amenities for tenants who want to be on the campus. There are a number of cafeterias and food venues, so we will look at bringing in guest chefs and maybe freshening those spaces. We’re also looking at conceptual ideas to improve the overall aesthetics of the campus, so we will be look at revitalizing existing buildings to make them a little more contemporary... Eventually we’ll undergo a full rebrand of the campus. 

MWM: What will Sprint’s ongoing presence be?

Stafford: Sprint will continue to be the largest tenant, and the company is making a commitment to Kansas City with a long-term lease situation, but that’s all we can say right now. Sprint and Occidental are both focused on recruitment and retention of associates and employees on the campus. 

MWM: What is the current tenant mix and how do you see that changing?

Stafford: There’s a good mix right now between health care and financial services companies. There is also good infrastructure for technology-related companies, so there is opportunity there. 

MWM: What additional opportunities do you see? 

Oborny: We are looking at the 60 acres near 119th and Nall that have never been opened to commercial development. We see an opportunity to bring amenities to that vacant land such as hotel, restaurants and retail, but for right now we have to close. 

MWM: This is a huge transaction. What’s next for Occidental?

Oborny: Yes, it’s a big opportunity. We see a natural progression for us in Midwest cities, so development opportunities in the $100-$300 million range are certainly always of interest.

Launch Development prepares for liftoff of new mixed-use at former Loehmann's site

Construction is wrapping up on the first phase of The Promontory, a $98 million, 291-unit residential-over-retail redevelopment at 91st and Metcalf in Overland ParkLaunch Development Inc., in partnership with Jim Harpool and Evergreen Real Estate Services, plans a grand opening this spring.

“One of the big differences between this and any other project we have is that all the residential parking is separate from the retail parking,” Harpool said. “The units are wrapped around three sides of the parking garage, and you can park on the level that you live. So you just walk in and you’re home.”

All the Promontory’s one- and two-bedroom units include high-end finishes, 12-foot ceilings, balconies, and walk-in showers. Common spaces include a clubhouse with demonstration kitchen/bar, multiple flat-screen TVs, ample gathering space, and workstations.

Outdoor living spaces include a swimming pool/deck area and courtyard/green gathering area connected by a breezeway, or “cave,” that can be closed off depending on the weather. The breezeway features a big-screen TV, bar and fireplace. The indoor mezzanine area is home to a yoga studio and fitness center with treadmills overlooking the pool deck.

Harpool, a longtime proponent of Metcalf Avenue redevelopment efforts to the north and south of 95th Street, said the Loehmann’s project was not without challenges. Overland Park stormwater retention requirements added $1.3 million to site prep costs.

“We had to create a 12- to 14-foot high detention basin beneath the parking lot. You can park 17 semis under there,” he added.

The Promontory is part of multifamily redevelopment boomlet taking place between 95th and 80th streets along Metcalf Avenue. The residential projects aim to piggyback off about 1 million square feet of new or redeveloped office space taking shape in the corridor.

“You’re going to have between 800 and 900 units close to Downtown Overland Park opening in 2019,” Harpool said. “Between Tim Barton’s office building, Avenue 82 anchored by BRR Architecture, and Shamrock Industries across the street planning to hire 1,000 people, we have a little hub here.”

KC Wine & Liquors opened a new store at The Promontory in December, and additional leased space is available for retail stores and restaurants. At full buildout, The Promontory will include a total of 490 retail units and more than 150,00 square feet of retail space.

For retail leasing at The Promontory, email Ryan Robertshaw at Ryan@KCEvergreen.com

View a promotional video of The Promontory.

Check out a gallery of The Promontory clubhouse and residences below.