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.

The Locale: Mission's first Class-A development

Mission, Kan. has acquired their first Class-A, mixed-use development, The Locale, located at 6201 Johnson Drive in the heart of the city's Lamp Post District.

The EPC Real Estate Group development, initially named Mission Trails, is anchored by a 201-unit multifamily complex and includes 5,500 SF of restaurant and retail space, all connected by an amenity-rich outdoor courtyard.

Since the first move-in in April, the luxury apartment complex is 27 percent occupied and 43 percent leased, according to EPC.

The three-acre property is conveniently located just minutes from Interstate 35 and Highway 69 and within walkable distance of downtown Mission.

The community of studio, one and two-bedroom floor plans includes upscale-living amenities - like a courtyard with gas grills, saltwater swimming pool, 24-hour fitness center and an on-site dog park.

"One of the many reasons why we stand apart from our competitors is the plethora of amenities that compliment anyone’s lifestyle. It's vacation 365 days around here," said Nicole Yates, EPC marketing specialist.

Designed by Klover Architects to match the city’s mission architectural style, the 305,688 SF property includes 201 apartment units - each with their own balcony, a 2,500 SF interior courtyard, 5,500 SF of restaurant and retail space attached to a 4-story, secure-access parking garage - which was financed by a public/private partnership between the City (of Mission) and EPC.

Other amenities include an indoor pool and jogging track, fitness center and communal meeting space.

“From the moment we began designing the building we felt an obligation to build something unique and special. We knew the new 5-story building would take (up) a very prominent location within the entire area. We decided to continue the mission architecture-style with the goal of raising the bar and further expanding the appeal of the Johnson Drive corridor. EPC’s goal from the beginning was to maximize the opportunity of enhancing the exceptional Mission community,” said Steven Coon, principal at EPC.

Project contractor, Crossland Construction Company, worked with EPC to complete The Locale within 20 months and implemented their team of “Real Builders” to self-perform the concrete and rough carpentry. 

Crossland’s team leads, Matt Crossland, project manager, and Tim Carson, superintendent, said the projects’ close proximity to the city’s numerous, popular destinations proved to be a challenge to maneuver around in during construction of the three-acre, urban in-fill site.

“This building takes up every square inch of the site, which made it logistically complex. There was limited space for laydown and staging so all trades had to be well coordinated,”  said Carson.

In addition, severe weather in 2019 led to reduced time onsite for trades. Between site logistics and weather issues, Crossland utilized PlanGrid construction technology to help the project stay on time and on budget.

The Locale marks EPC’s fifteenth completed ground-up development in the KC metro since 2010. Other recently completed projects include Avenue 80 and Avenue 81 on Metcalf Ave. in Overland Park, Kan.; and the recently proposed Ranch Mart South senior living redevelopment in Leawood, Kan.

Other partners on The Locale include Security Bank, BSE Structural Engineers and McClure.

To view the fast-motion earth video of the project’s construction from beginning to end, click the following link, courtesy of Crossland Construction. Click here to watch fast-motion earth video.

Click here to watch Crossland’s YouTube video.

Berkadia team remains positive, embraces new norm in midwest

As members of Berkadia’s Mid-Markets Group, we have seen first-hand the effects of COVID-19 across apartment markets in the Midwest. We have been fortunate to experience far fewer confirmed cases and deaths than the larger coastal metro-areas; however, the effects of the pandemic on the Midwest’s economy have still been significant.

“Stay-at-home” orders have saved lives, but they have also stunted local economic growth—particularly as these policies have shuttered small and mid-sized businesses throughout the region. The commercial real estate market is facing new challenges, but opportunities exist for those who have confidence in the long-term strength of the post-coronavirus apartment market.

Multifamily Industry Impacted, Opportunities Remain

At the beginning of this year, we were very confident we could match, if not exceed, our transaction activity from 2019. But now any attempt to accurately predict what the remainder of 2020 might hold for either our team or our industry is difficult.

Overall, property types are performing roughly as we might anticipate. Industrial and multifamily have fared well so far, while leisure, hospitality, and retail are struggling. What we have seen so far with April collections has exceeded our expectations, but the multifamily industry’s ability to continue to collect rents into May and beyond will be imperative to the industry’s long-term success.

While we are maintaining optimism and thinking the bulk of the damage will be to this quarter’s numbers, we wouldn’t bet against those who believe this could carry well into Q3 or even beyond. We do see long-term positive indicators for multifamily and are hopeful for this downturn to be brief with momentum reestablishing next quarter.

While the current market may seem to be a no-go, transactions are still occurring. From an advisory standpoint, we are providing clients with real time information, asking questions, giving feedback, and offering words of encouragement to help them make the best decisions for their business and their partners.

Working In the New Normal

The shift to working from home has certainly been an adjustment, but a smooth process overall. We are not complaining about the occasional poolside conference call. But in all seriousness, it can be challenging to create new routines and work toward new daily goals. One definite upside? Communication with teams is even stronger than when we were all in the office.

Our Mid Markets Team—made up of investment sales, mortgage banking and servicing specialists throughout the Midwest—has become even more collaborative during this time. We are doing more to stay connected, keep a pulse on the market, and share valuable data real-time so that we can most effectively counsel our clients.

The time we used to spend commuting is now time we are spending virtually connecting with coworkers, clients, friends, and family. We are learning more about the people in our lives every day and it is comforting to know that we are all going through this together.

Where We Go Now

All-in-all we need to listen—sometimes without providing answers—and make peace with the fact that there are many factors we cannot control. We can take solace in knowing that this too shall pass.

We should also explore how to give back to the communities around us. Those of us who are fortunate enough to still have our jobs and our health simply cannot take it for granted. We can all find meaningful ways to help and we should act on them immediately. Soon enough, we’ll be back in the “norm,” but for now, it’s important to embrace the “new.”

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.