Panelists tackle trends and timely topics at sold-out MWM 2017 Multi-Family Summit

More than 170 guests attended MWM's 2017 Multi-Family Summit on Oct. 12 for breakfast, premium networking and a panel discussion moderated by Hunt Midwest's Brenner Holland. 

Here's a snapshot of panelist insights: 

“We are in a vibrant stage in my 25-year career. One of the leading indicators is the number of calls I get from lenders about sites from developers outside Kansas City, so that tells us that folks are either pooping out in some other markets and trying to come here, or they’re moving from different food groups into multi-family." -Jim Thomas, Cityscape Residential

“I think what has happened in Denver is similar to what has happened to California, where the prices have gotten astronomical and it’s unaffordable for virtually anybody at any income level... Quite honestly, I see Kansas City as the next Denver as people keep looking for more affordable places to live and work. We are certainly very well priced in the market for exceptional value.” -Aaron Rumple, Yaeger Architecture

“Boomers want larger units and more bonus space or an extra den area. Storage is very important to them. Millennials, on the other hand, are more concerned about walkability. They value space a little less and they place more value on amenities and the social aspect of amenities spaces in technology.” -Justin Duff, VanTrust Real Estate

“The amenity stuff keeps getting better and better, particularly with pools and clubhouses. On the technology side, we’re adding USB outlets inside the units and trying to accommodate what’s going to be standard technology as it grows. We’ve built penthouse units for a couple of projects. Those are the first to go, and usually the Boomers get them." -Aaron Neighbors, Neighbors Construction

“The new stuff is always going to fill up, and the reason is that those offer the best property and best amenities. It’s where people want to live. So we are building in places where the jobs are going, and then it’s not a question of ‘Will the new stuff fill up?’ It’s a matter of, ‘At what number will it fill up? Will you meet the pro forma, and will you hit your rents?' " -Aaron Mesmer, Block Real Estate Services

“Paramount to any development is having the best site selection-- access to highways, jobs and amenities-- because when people move into an apartment anymore, there are so many good options out there, you really have to have that ‘wow’ factor. So you need to be able to have people move into something where there’s a sense of place and they have to feel that they have 'arrived' somewhere.” -Mike McKeen, EPC Properties

“I think Kansas City-- the municipality-- really wants to expand opportunities for economic diversity. A lot of projects that we are seeing in the Historic Northeast area are all mixed-income products, so you are divvying up affordable versus market rate and really bringing more diversity into the neighborhood.” -Rachel Treanor, 4Sight Construction Group

Check out our slideshow below or head to our Facebook page slideshow and tag yourself! 

Rainen Companies' new senior living concept eyes '55 and better' niche

Liberty at Shoal Creek, a $25.8 million luxury senior rental housing development concept developed by Rainen Companies, recently opened in the Northland. Located on six acres at NE 82nd Terrace and Farley Avenue in Kansas City, Mo., the community is geared to active Baby Boomers and seniors. Longtime Kansas City developer Mike Rainen recently sat down with MetroWireMedia to share more about the project.

MWM: What inspired you to develop this lifestyle concept?

MR: We wanted to provide a business solution to the Baby Boomers that are historically a moving wave. It wasn’t a surprise that this age group and demographic is growing, but the anomaly was the fact that they are maybe seeking different housing solutions. In 2013, we saw there was an age bubble or wave coming through, and we wanted to ride the wave. So we teamed up with Carl Yaeger and Yaeger Architecture to bring this concept to reality.

MWM: Tell us more about the trends that informed your design decisions?

MR: We conducted years of research as to what this group would desire and need. We secured a trademark for the term ‘55 AND BETTER’ to clearly define our target market and then we worked to provide features that are specific to the needs, lifestyle and life stage of that market segment. The result is a product that meets requirements of seniors pretty much in lockstep, but then we’ve taken our own little twist on what we think this group wants. 

MWM: Describe what differentiates Liberty at Shoal Creek from other senior housing products on the market?

MR: Along with Yaeger Architecture, we have created amenity-rich community for active Boomers and seniors, with features such as a putting green, movie theater with luxury seating, outdoor living spaces, indoor/outdoor pool and hot tub, fitness center and business center, all of which are specific to the needs of that market segment. 

MWM: Clearly you’re expecting strong demand for amenity-rich senior housing geared to active lifestyles. How competitive is that market?

MR: People are excited about what we are doing. Most competitors in senior housing are changing up their product to respond to this active market, so our main competition is people choosing to stay in their existing homes. 

MWM: Are you planning to expand Liberty at Shoal Creek? What about additional locations?

MR: The property includes land for a planned second phase, which would add additional parking and 60 new units, for a total of 245 apartments. We are in the process of replicating the concept, both in the Kansas City area and outside the region. We have locations under contract, but we aren’t releasing details just yet.

Liberty at Shoal Creek is the seventh area development owned or co-owned by Michael Rainen, a native Kansas Citian, businessman and real estate developer.

Check out a slideshow of Liberty at Shoal Creek below or click here for additional photos.