Northpoint's $60 million CORE apartment complex heads to Berkley Riverfront

NorthPoint Development's $60 million apartment complex, CORE, is heading to the Berkley Riverfront area in Kansas City, Mo.

The Port KC board unanimously approved the development earlier this week, which includes a revenue bond for up to $49 million in financing. The bond will be repaid by NorthPoint and its financial partner in the project, Northwestern Mutual.

CORE, an acronym for Connecting Our Riverfront to Everyone - also named by NorthPoint - will be the second apartment development in the Berkley Park area and Northpoint's third development in downtown Kansas City in the past couple of years.

The 355-unit community will showcase studio, one- and two- bedroom apartment homes offering a modern and convenient lifestyle within the urban core.

Amenities include a heated, saltwater swimming pool, poolside pickleball and bocce ball, a two-story fitness center and yoga studio, a library lounge, private conference rooms, a 16-ft indoor rock climbing wall, a virtual sports simulator, a WIFI lounge with gaming systems, co-working spaces and a pet spa.

Apartment home finishes will include custom melamine cabinetry, stainless steel appliances, modern backsplash, wood-plank flooring, oversized windows, keyless entry and modern hardware and lighting.

The NorthPoint development includes eight acres, previously owned by Port KC, just east of the Bar K dog park, restaurant and bar. Additional plans include adding a private street through the development as well as 70 parking spaces for public use, including Bar K patrons.

Plans to extend the KC streetcar to the Berkley Riverfront area is also in the works, according to Port KC.

Construction is scheduled to begin this summer, with the first phase of the apartments estimated to be complete in Fall 2021. The entire development is estimated to be complete in Fall 2022.

To view a complete rendering portfolio of the CORE Apartments, you may visit NSPJ's website here.

KCADC launches national "KC Heartland" brand campaign

To celebrate and maximize Kansas City’s first NFL Super BowlTM appearance in fifty years, ambassadors from the KC region will attend watch parties in select cities across the U.S., including Miami, LA, DC, NYC and Chicago, doubling down on the region’s “KC Heartland” identity.

“The idea spurred from a recent tweet from Chiefs official reporter, BJ Kissel, who asked for pictures of the best Chiefs watch parties at bars/restaurants around the country,” said Tim Cowden, president and CEO of Kansas City Area Development Council (KCADC).

“Chiefs ‘embassies’ waved flags from major cities around the world in support of our beloved KC team - grabbing the attention of not only KC natives but fans across the U.S. The ultimate rationale behind this innovative and proactive effort is to drive awareness of KC as an ascending location for relocating companies and talent,” Cowden said. 

In the wake of the Chiefs’ January AFC Championship win, the economic impact of a global spotlight on Kansas City today versus fifty years ago is unprecedented. The opportunity has prompted business and civic leaders to strategize a way to amplify the momentum already underway in major markets, and mini-Chiefs Kingdoms, across the U.S. 

“There are only two cities who have the opportunity to be crowned the best American football team in the world each year, and this is our year. We are just following the lead of our MVP quarterback and ‘doing something special’ with this moment in time, letting the world know, KC is ‘just getting started.’” Cowden said.

Small teams of three to five civic and business leaders will attend watch parties at designated locations where Chiefs fans gather in Los Angeles, New York City, Washington, D.C., and Chicago. KCADC’s communications and media team is on the ground in Miami with key spokespeople from the KC region. 

“Pairing these ground activations with digital advertising in 23 target markets and several regional college campuses, KC heart branded flags, stickers and social media guides - the goal is an increased awareness and following of the KC Heartland channels and storytelling. We are inviting the world into a relationship with our KC region - as visitors, customers, employees and investors - which all impact our region’s growth and prosperity,” Cowden said.

The brand will not only be making a splash in watch parties across the nation on Sunday, but also at the heart of it all in Kansas City - The KC Power & Light District. Ambassadors will be engaging fans with KC Heart props, photo opps, KC Live screen presence and more. 

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.