Residential options beefed up in Stockyards District

Ryan Cronk, vice president of development with Indianapolis-based Flaherty & Collins, joined moderator Frank Sciara, CCIM president of the Kansas City CCIM chapter and vice president of Grandbridge Real Estate Capital, for a live CCIM-KC webinar last week to discuss Flaherty & Collins’ newest multifamily project in Kansas City.

Located in the Stockyards District, The Yards is a 232-unit multifamily project which saw its first tenant take occupancy in May.   

While Cronk was working on the Union Berkley Riverfront project, he attended an event at the Amigoni Urban Winery located in the Stockyards, a part of town he had never been before, and met developer Bill Haw who had renovated the Livestock Exchange Building which then had more than 110 tenants.

“When I heard that number, I was like wow, there’s 110 people that want to be in the Stockyards. That’s a big deal. That was very intriguing as a developer to see that,” said Cronk.

Despite the fact that the Stockyards then boasted several restaurants, bars and the winery, the Stockyards had only eleven residential units that Haw had recently completed. With a lot of people coming to the Stockyards to eat and drink, Cronk thought there might be a demand for apartments.

Beginning what Cronk called a “very smooth process,” Flaherty & Collins began development of The Yards on a vacant parking lot next to the Golden Ox.

Flaherty & Collins and the City of Kansas City, Missouri entered into an agreement which allowed Flaherty & Collins to use the West Bottoms Parking Garage, which had been under-utilized with the closure of Kemper Arena. Consequently, The Yards did not require any new parking construction.

KEM Studio, located in The Stockyards, was the architect. 

“Nobody had a better feel for what the design of this thing needed to be,” said Cronk.

The Yards incorporates historical aspects from the days when the district was a stockyards. Cronk said they found thousands of old bricks when they ripped up the parking lot to begin construction. Flaherty & Collins restored the bricks and used them both inside the property and in the exterior sidewalks. 

“That was a cool way to keep the fabric of the history of the stockyards in a modern project as well,” said Cronk.

The developer also engaged artist Kevin Townsend to create a large exterior mural in front of the property’s entrance.

The Yards boasts some unique amenities, including a vineyard planted in the middle of its courtyard by Amigoni Winery, who also maintains the vineyard. Cronk said he hopes to use the grapes to develop a house wine to give to new residents.

“It’s also an educational thing where our residents can learn the process of making wine, all the way from the start of growing the grapes to the finish, with Amigoni being across the street,” said Cronk.

Taking advantage of the property’s location near the Kansas River, The Yards also offers its residents the use of kayaks located in a kayak room inside the property.

Cronk said the biggest challenge he faced was obtaining financing which took two years. 

Cronk said the property currently is 43% leased and 34% occupied. Despite the pandemic, the project is actually ahead of budget in terms of occupancy because the developer has been very aggressive with upfront concessions to generate foot traffic. 

The Yards also has approximately 3000 SF of commercial space which is close to being under lease.

Pleased with the success of The Yards, Flaherty & Collins is pursuing approval for a Phase 2. Cronk explained that phase 2 will be a separate project, with a different look. The only bond with The Yards will be that both properties will share the parking garage.

Phase 2, which is planned to contain more than 200 units along with some commercial space, will be located in Kansas and will sit directly on the river. 

Cronk said his company is working with the Unified Government on the development planning, tax abatement and platting processes. He hopes to commence construction on phase 2 in the third quarter of 2021, if not sooner. 

“In Phase 2 we’re really trying to find a unique destination piece for a creative entrepreneur type that wants to do something - something that interacts with the river. Somebody that’s got a great idea and can do something a little bit unique in The Stockyards,” said Cronk.

Cronk said he hopes to continue to build more projects in The Stockyards. “What we saw in the area was a fabric that you can’t replicate anywhere else,” he said.

Belton approves residential development trifecta

This week the  Belton (Mo.) Planning Commission voted to recommend approval to Belton City Council rezoning, redevelopment and new additions of three projects totaling over 500 units to serve young professionals, families and seniors.

Recommendations included rezoning from C-2 to R-3A and a preliminary development plan for Center 301 Apartments, at the southeast corner of Towne Center Drive and East Markey Parkway.

In the same session, the commission approved 137 lots for single-family and 10 lots for single-family attached homes in the Autumn Ridge subdivision as well as the addition of 53 senior living units to the Traditions subdivision.

“Growth in the development of single-family homes as we’ve seen today with the Autumn Ridge plan continues at a remarkable pace for the city of Belton,” said Dave Clements, director of planning and building.

“Combined with the 53 new Traditions units, which will help relieve the pressing demand our citizens have for quality senior living options, and the Center 301 multi-family units, we are adding capacity for what could be 1,000 or more Belton citizens depending on how many occupy each residence, Clements said.

The preliminary plan for the developer, Case & Associates, includes the $34 million Center 301 Apartments. The multifamily housing complex will house 306 Class-A units with a mix of one-bedroom / one bath, or two-bedrooms / two baths; many with first-floor garages. All residents will have access to a dog exercise area, walking trail, swimming pool and cabana as well as a clubhouse that features a fitness facility, business center and outdoor kitchen. The developer expects rates to range from $965 to $1,420, depending on market conditions.

In the third phase of the single-family development Autumn Ridge, located on the west side of South Mullen Road, includes 137 single-family and 10 lots for single-family attached homes with a neighborhood playground and trail.

Traditions Villas, a 55 year+ restricted community on the northeast corner of Mullen Road and Sycamore Drive, proposed an addition of 53 garden-level, 868 SF one-story villas with two bedrooms across a total of 10 buildings. Each will feature a front porch and back patio and laundry and has access to a community building which will have onsite management and maintenance offices and provide space for resident gatherings.

Partners on the Case & Associates developments include Architects Collective, Tanner Consulting, Schlagle & Associates and Quist Engineering.

The city council will make final determination on the rezoning for the Center 301 project from C-2 General Commercial District to a R-3A Planned Unit Development, and on its Preliminary Development Plan, at its October 13, 2020 meeting.

Waldo Ice House redevelopment helps freeze housing shortage

The history of the Waldo Ice House project dates back 100 years to when the site was home to the Kansas City Ice Company from the mid-1920s until the mid 1960s.

By 1970, Waldo Antiques operated the property until 2017. That’s when developers Diane Botwin of Botwin Real Estate and Andrew Ganahl of Linden Street Partners put plans in motion to redevelop the site with a mixed-use project. 

“My father-in-law, Jerry Raeder, has memories of going to the Kansas City Ice Company plant as a child in the mid-1940s before the family had an electric refrigerator,” said Ganahl. 

However, due to decades of neglect, redevelopment of the original historic ice house building did not pencil, and the building was demolished. Keeping in the spirit of the original structure’s use and objective, Ice House Partners LLC was formed, and the Waldo apartments became reality.

Botwin and Ganahl met as neighboring business owners in the KC Crossroads. Botwin as a 30-year local business and property owner, and Ganahl, as a regional urban infill developer, decided that multifamily housing deemed “missing middle” was needed as an alternative for people who want to live in Waldo but did not desire a single-family home. 

“We have leased 4,000 square feet of the first-floor commercial space to a local optometrist and have 800 square feet awaiting a new tenant,” said Botwin.

The project is the first new construction project Waldo has seen in many years, finally bringing housing options to the neighborhood’s constrained supply of housing,

Details of the multifamily portion include:

·      44 units, mix of studios (25%), one-bedrooms (55%) and two- bedrooms (20%); most with balconies

·      Rent starting around $1,000/month with average price of $1,250/month

·      Nationally-exhibited local artist is creating a site specific work to be installed in the apartment lobby

·      Walkable and transit—oriented; adjacent to CVS, Aldi's, Walgreen's, local restaurants and retail; plus close proximity to major transit stop at 75th and Wornall, including Main MAX bus line

The project team includes Slaggie Architects, Inc; general contractor, Haren Companies; engineers Leigh & O’Kane (structural), Smith & Boucher (MEP) and Taliaferro & Browne (civil).

A completion date is slated for summer 2021.

GBA acquires Texas firm Jay Engineering Company

George Butler Associates, Inc. (GBA) recently announced the acquisition of Texas-based firm Jay Engineering Company, Inc., now renamed as Jaeco, a division of GBA.

As a result of strategic planning efforts, GBA set out to acquire a firm in the water/wastewater or transportation markets. Texas was identified as a strong market with growing need for infrastructure.

“Jay’s municipal and development engineering expertise and long-standing presence in the Austin area will allow us to further strengthen our service offerings and resources in Texas,” said Tim Ross, GBA president/CEO.

Jay Engineering has served clients since 1980. Earlier this year, founder Fred Jay marked forty years in business and made the decision to retire.

“I am so glad this day has come. We have worked long and hard to develop a reputation of serving our clients with integrity and excellence in our field. With my retirement, it is good to know both employees and clients will be well served under this new arrangement. Putting the additional resources of GBA into play will allow serving needs that we could not before. The future is bright,” said Jay.

Since 2016, GBA has grown from 210 to 300 people. According to Heidi Thummel, director of business development and the firm’s M&A project manager,

"We couldn’t be more excited to welcome new teammates in Texas! GBA is adding a group of outstanding technical professionals who will expand our capabilities, and Jay Engineering is gaining the support of a firm that can help provide opportunities for growth and development,” Thummel said.

GBA/Jay closed the deal virtually due to the COVID-19 pandemic on August 31, 2020. Terms of the acquisition will not be released.

Savoy Tea Co. joins The District at Lenexa City Center

Copaken Brooks has announced Savoy Tea Company will be joining the Shops at The District at Lenexa City Center.

This is the first Kansas City location for the company, which has locations throughout northwest Arkansas and Oklahoma City, Okla.

Founded in Rogers, Ark. in 2011, Savoy Tea Co. carries over 150 specialty and rare teas sourced from tea gardens and family farms spanning across the world. Each of the specialty flavored teas are crafted by Savoy Tea Company, formulated to perfection by their professional team of Tea Specialists at the Savoy Tea Laboratory in Fayetteville, Ark.

“Kansas City has such an incredible small business community, and we’re thrilled to join those ranks,” said Bill Beyer, a Certified Tea Specialist and Tea Blender who co-owns Savoy with his wife, Tina Beyer, an Internationally Certified Tea Sommelier.

Bill and Tina Beyer have been educated by the Specialty Tea Institute of America, an accredited institution that leads the nation in tea education curriculum.

Savoy Tea Co. plans to use its team of experts to teach a diverse arrangement of tea classes, specialty tastings, and communal workshops partnered with fellow local Kansas City businesses to educate the community on all thing’s tea.

“We’re excited to plant our roots in Lenexa, which we hope will be the first of many locations throughout the metropolitan area,”Beyer said.

Erin Johnston, vice president of retail brokerage at Copaken Brooks, represented both Savoy Tea and The District in the deal.

“We toured various spaces throughout the greater metro with Savoy, but it was clear that The District was the best fit for their expansion into the Kansas City market, Lenexa’s new downtown continues to be a top destination for small businesses, and we’re proud to have a unique specialty shop like Savoy at our property,” Johnston said.

When fully developed, Lenexa City Center will consist of more than 2 million SF, including civic components for the City of Lenexa, nearly 1 million SF of office and retail and 375 residential units. The District Shops will include a variety of unique stores, restaurants and cafes in the heart of Lenexa’s new downtown.