Lane4 breaks ground on two senior living communities

LANE4 Property Group began construction on two sites within the Kansas City metro for its newest independent senior living development concept, Novel Place.

The facilities are located at 95th and Metcalf in Overland Park, and Hwy 40 and Hwy 7 in Blue Springs.

“Novel Place is setting a new standard for affordable, yet convenient, independent senior living. Future residents will have access to more amenities without having to break their bank,” said Hunter Harris, Lane4 partner.

Novel Place’s mission revolves around providing each resident with an improved sense of lifestyle rather than just a place to call home. Home health, dining, wellness, and transportation programs are available to future residents; each thoughtfully crafted to enhance the residents’ experience.

“We’re thrilled both Novel Place locations will be joining neighborhoods in Kansas City that already embody a strong sense of community,” Harris said.

Novel Place offers refined common areas, outdoor courtyards, an in-house fitness studio, and multiple gathering spaces for residents and their guests.

Each location features 134 apartments in a three-story building with a variety of studio, one, and two-bedroom floor plans.

“Our ergonomically friendly features, relaxed contemporary coastal design, and passionate commitment to foster a true sense of community are the cornerstones of our mission,” said Deb Wagner, Novel Place vice president of senior living.

“In our minds, it’s not just about constructing a building; it’s about providing a safe and affordable solution where neighbors can enjoy, support, and celebrate each other,” Wagner said.

Omaha-based, NewStreet Properties, LLC, has joined LANE4 as investment partners for both Novel Place locations. Architectural services for each project will be provided by Davidson Architecture and Engineering and construction services will be provided by Centric.

Academy Bank will provide financing for Novel Place of Blue Springs and Security Bank will provide financing for Novel Place of Overland Park.

Both locations are expected to be open by Summer of 2020.

Astoria Healthcare Properties adds senior living to the map

The Retreat of Alameda will be the first senior living facility for Leawood, KS-based, Astoria Healthcare Properties, who has typically developed ambulatory surgery centers, surgical specialty hospitals and medical office buildings.

The assisted living and memory care facility consists of approximately 93,000 SF with 72 apartments for assisted living, and 38 memory care apartments in a separate, secured setting.

“Adding senior living as a product type is a natural extension for us. Our expertise is developing healthcare facilities with the goal of providing higher quality care at a lower cost. Not only is the demand for senior living increasing, but the ability to provide a product that provides quality care at an affordable price is in greater demand," said John Foudray, Astoria Healthcare CEO.

Amenities include a full kitchen and private dining room with wood slat ceilings, contemporary café/pub, theater, therapy room, fitness center, salon/barber, multi-activity room, lounge and outdoor courtyards. A looped walking path is connected to a central outdoor atrium, giving residents the opportunity to be outdoors on their own. The entire facility will be steel-framed and have an emergency generator system.

The facility, designed by triARC Design, provides a fresh take on traditional senior living, focusing on the current generation of design-savvy seniors who appreciate a more contemporary aesthetic.

"The design story revolves around how different people approach the concept of “retreat, ” said Jon Hanna, triARC Design senior project manager. "Each space gives a different way to retreat; to wander, to contemplate, to be vibrant, and to decompress."

The Retreat at Alameda will be managed by Paradigm Senior Living, a national provider of management services to the senior housing industry. Paradigm has assisted in operation of more than seventy senior living communities, totalling 8,500+ living units, valued at more than $1B.

The project is located in northern Phoenix, at 1920 W. Alameda Rd., an area currently undergoing rapid residential development. Construction on the project is scheduled to commence in September with completion in March 2021.

Astoria Healthcare Properties is owned by Nueterra Capital, a private equity company investing in healthcare and technology companies.

BacklotCars shifts downtown to KC's Lightwell Building

BacklotCars, a wholesale auto inventory service provider currently located in the Crossroads, will be moving to the the newly rebranded Lightwell Building at 12th and Main in August.

With the recent signing of the 20,000 SF full-floor lease agreement, Somera Road and their partner AREA Real Estate Advisors, added the second major tenant following a landmark lease agreement with WeWork.

Lightwell currently boasts 180,000 SF of contiguous availability, the largest existing block of space in downtown Kansas City.

“When we saw the vision Somera Road and AREA Real Estate Advisors had for the Lightwell project, we knew it was something we had to be a part of,” said Josh Parsons, BacklotCars founder/ COO.

“The location, design and amenities of the project are exactly what is needed to attract the top tech talent to Kansas City. We are very excited to be moving into the new Lightwell Building and feel that it will be a great place for our ever-growing team to call home,” Parsons said.

BacklotCars is a significant disrupter of the wholesale automotive space, and recently closed a $25 million Series B funding round. The company seeks to ease pain points for automotive dealers though building one wholesale platform for all dealers to transact efficiently.

“BacklotCars is exactly the type of forward-thinking technology company that understands what we’re creating at the Lightwell. They’re a major contributor to Kansas City’s growing technology ecosystem and we’re excited to provide them with a home that’ll enable their next phase of growth.” said Basel Bataineh, Somera Road vice president.

“With its fantastic bones and premier location, we believed that Lightwell would attract the fastest-growing segments of employment including tech, marketing, and creative-driven companies. BacklotCars is certainly a great example of what we thought would happen,” said Tim Schaffer, AREA Real Estate Advisors president.

HOK and JE Dunn joined AREA and Somera Road on the renovation.

Jones Development acquires manufacturing and distribution facility in New Century, KS

Sumner Investment, L.L.C., a local partnership arranged by Jones Development, recently acquired a manufacturing and distribution facility in Johnson County, KS. The warehouse is situated on 17.71 acres in the New Century AirCenter, with close access to I-35.

As part of Jones Development’s newly created value-add portfolio, the facility is currently undergoing capital improvements and being offered for lease or sale, divisible as small as 100,000 SF.

The entire building includes 311,100 SF, with 12,000 SF of office space and 22’ – 26’ ceilings. The facility includes 36 dock doors, six drive-in doors and over four acres of paved, fenced and lighted outside storage for product or 95 trailer parking stalls.

“Jones Development has been developing, buying, selling, and managing industrial properties since the late 80’s,” said Chris Jones, executive vice president of investments at Jones Development. “The main difference today is that we are looking to aggressively expand this side of our business by forging some new, external relationships and pursuing more value-add facilities similar to Sumner.”

As part of their emphasized investment efforts, Jones Development also hired Cameron (Cam) Duff in March as vice president of investments.

Locally, Jones Development is also developing the master-planned Olathe Commerce Park, a new industrial business park occupying 66 acres at Dennis Avenue and South Grant Street, near KS Highway 7 and I-35.

Additionally, Jones recently completed a 99,600 SF speculative warehouse in Shawnee, KS, repurposed and sold a 88,000 SF facility in Riverside, MO, acquired a 2.5 acre parcel of land in Riverside, MO for future development, purchased two parcels of land at the intersection of Troost and Truman, and is investing with other local developers. Beyond the area, Jones is underway on several build-to-suit industrial development projects.