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February 13, 2019

Editor's Picks, Multifamily, Residential Development

Plans advance for South Kansas City upscale multifamily project

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February 13, 2019

Editor's Picks, Multifamily, Residential Development

The Kansas City Council has approved rezoning of about 50 acres near the Grandview Triangle in the Hickman Mills area, clearing the way for the first new upscale residential project in that pocket of South Kansas City in a generation.

Construction is expected to begin on the first phase of the River Birch Townhomes project in late summer, with 27 fourplex buildings completed in 2020. At full buildout, development plans call for construction of 204 units in 51 two-story buildings built in two phases.

The $28 million project is being developed by James Ellis of HC Realty Development Co. and aims to attract young professionals working at Cerner Corporation’s Innovation Campus less than five miles away, as well as Honeywell's campus at I-49 and Missouri Highway 150.

“There’s a strong need for quality housing in south Kansas City, Missouri,” Ellis said. “With quality employers including Cerner and Honeywell and the proposed redevelopment of the former Bannister Federal Complex, there will be a large influx of young professionals.”

No incentives were requested for the project, which was unanimously approved by the Kansas City Council and the city’s Board of Zoning Appeals. It also has received strong support from the South Kansas City Neighborhood Alliance and the Hickman Mills School District.

The community will offer two- and three-bedroom units for lease starting at about $1,500 per month. Amenities planned for the project include a clubhouse, pool, playground and large amounts of green place.

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February 6, 2019

Architecture and Design, Retail, Editor's Picks

Hufft helps Tuft & Needle become sleeper retail success story

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February 6, 2019

Architecture and Design, Retail, Editor's Picks

Thanks to startup mattress company Tuft & Needle, architecture and design firm Hufft has found a soft spot in today’s hard-pressed retail market.

The online industry disrupter chose Hufft last year to design its experiential prototype store serving the Kansas City market, a project so successful that 10 additional stores are planned for 2019 in addition to stores in Portland, Ore. and Raleigh, N.C.

"The idea was to create a space that felt like home, making the mattress buying experience a little less intimidating," Hufft Design Principal Dan Brown said. "It can be uncomfortable to lay on the bed with your significant other or yourself."

Hufft's concept store in Leawood replaced the sea of flat mattresses and harsh lighting typically found in mattress stores with soft lighting and four semi-private rooms where customers can test mattresses and meet with a "no pressure" sales rep if needed. Orders are placed via iPad and shipped directly to the home.

“It’s exactly what people are talking about when they talk about the future of retail being experiential,” Brown said. “It’s lean, customer centric and experience-based. The concept is more about conveying the experience of the brand, rather than picking from 1,000 products. It’s not about having the most things but about having the most quality.”

Hufft’s on-site fabricating shop creates project efficiencies by producing everything from fixtures to furniture to in-wall rolling casework and cabinetry. The unique combination of retail design expertise and custom fabrication is helping the firm carve out a niche in the crossroads of e-commerce and experiential retail.

“We can quickly roll out these stores. They hand us a location and a box size and then we work with them to develop the concept using the KC store as a template,” Brown said. “While we are in the design process, we can also be building cabinets and fixtures, for the space so it’s a really seamless process.”

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January 30, 2019

Mixed-Use, Redevelopment, Editor's Picks

With new tenants and timeline, Mission Gateway seeks financial partner

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January 30, 2019

Mixed-Use, Redevelopment, Editor's Picks

Mission Gateway has landed a 90,000-square foot destination entertainment tenant that “will be like nothing in the Kansas City market.” That’s the word from Tom Valenti of The Cameron Group, which is redeveloping the former Mission Center Mall site in partnership with GFI Development.

“The lease is signed. These are seasoned operators, with six units throughout the country, mostly in the south. They know what they are doing,” Valenti said of the unnamed tenant.

The concept will be an ideal complement to the 40,000-square foot food hall concept celebrity “Top Chef” Tom Colicchio is bringing to Mission Gateway and comes as plans for an Element by Westin hotel are being finalized.

“These new tenants have caused us to accelerate our business plan,” said Andy Ashwal of GFI Development. “We originally told the City (of Mission) we will build in phases, but we will now go ahead with the entire project.”

The new timeline also is accelerating the need for working capital.

“We just finished the offering memorandum to go out and raise money,” Valenti said. “We’ve hired Mission Capital to put together a capital stack that will add up to $140- $150 million for the entire project. That way we can move forward all at once.”

Mission Gateway’s first phase began last fall and includes 170 market-rate apartment units located above ground-floor retail in three buildings. Neighbors Construction is expected to complete the multifamily portion of the project in April 2020.

Fogel-Anderson Construction Co. is serving as construction manager for the entire redevelopment project at Johnson Drive and Shawnee Mission Parkway.

El Dorado, Inc. designed the overall master plan. NSPJ is architect of record for the Element hotel.

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January 9, 2019

2019 KC Market Forecast, Editor's Picks

Sprint campus sale, new DT office tower among most anticipated CRE events of 2019

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January 9, 2019

2019 KC Market Forecast, Editor's Picks

The expected sale of Sprint's 4 million square foot Overland Park campus will be a bellwether event for the Kansas City regional commercial real estate market in 2019. That's the consensus from panelists at MetroWire Media's KC Market Forecast held Jan. 8, at Johnson County Community College. The event was moderated by Kansas City Area Development Council (KCADC) President and CEO Tim Cowden.

"It's going to have a monumental impact. We're talking about 25 percent of the KC office market trading hands in 2019," said Mike Klamm, Managing Director for CBRE's Kansas City office. "The new owner will have new objectives, motivations and strategies to put tenants on that campus."

The sale could bring an estimated 1 million to 1.5 million square feet of Class A office space up for lease in the historically strong Johnson County submarket by the middle of the year.

Beyond Overland Park, Sprint's pending merger with T-Mobile will reverberate throughout the region's office market as communities seek creative ways to backfill the carrier's inventory of older office space.

"We have a lot of Class B space in Platte County," said Alicia Stephens, Executive Director of the Platte County Economic Development Council. "To see what Sprint did when it first opened and then when it downsized- and now with the merger- I think it has a long-term impact for us."

As Sprint seeks suitors for its campus, Copaken Brooks will continue to build its case for a new, Class multi-tenant high-rise office building in Downtown Kansas City. The 250,000-square foot tower would be the first of its kind in about 30 years.

"We think people will pay a premium for something new and innovative in terms of layout, size and technology. The task is figuring out how deep is that market, and how much do people really want to pay?" said Jon Copaken, Principal of Copaken Brooks. "We feel the time is right to explore than and get that done."

Other top development stories to watch in 2019, according to MetroWire Media panelists:

*Construction of the new KCI (Alicia Stephens)

*Growth in Data Center, K-12 Educational projects (Randy Bredar, JE Dunn Construction)

*Fruition of several sports-themed mixed-use projects, such as Bluhawk in South Overland Park (Bart Lowen, Price Brothers Development)

*KC Streetcar extension to UMKC (Jon Copaken)

*Access to Opportunity Zones (Mike Klamm, CBRE)

Check out a slideshow from the event here. Photos courtesy of Jacia Phillips, Arch Photo KC.