LANE4 is continuing to redevelop Rainbow Boulevard with the construction of a new extended stay Hilton Home2Suites at 34th and Rainbow in Kansas City, Kan.
For the past year, LANE4 Property Group has been quietly scooping up acquisitions and investments outside of its traditional retail focus. Now, the firm is applying its foundation of investment knowledge and strategy to a handful of new classes by way of three projects on the Kansas side of the state line.
“The world of real estate is changing, growing, and becoming less black and white, and we’re growing right along with it,” Partner Hunter Harris said. “We are laser focused on where we can make different asset types work together to achieve a greater overall project.”
Here’s a glimpse at its three latest ventures.
The first project is a 77,000-square-foot office center located at 73rd and Mission in Prairie Village. Thanks to an infusion of investment by LANE4 and its partner AREA Real Estate, The Village Office Center will see significant renovations including significant landscaping, the addition of usable outdoor space, modern interior common spaces for tenant use, facade upgrades, and renovations. Look for the project to finish by late spring of 2017.
LANE4 is continuing its transformation of the Rainbow Boulevard corridor with the addition of a new extended stay hotel. This month, a portion of the existing Rainbow Village center will be demolished to make room for a Hilton Home2Suites, which caters to short- and long-term guests, likely to be visiting students and educators or working professionals.
Lastly, LANE4 is leading an investment partnership with Prism Real Estate Services for the redevelopment of an apartment complex near Kansas State University in Manhattan, Kan. Woodway Apartments is an 87-unit complex adjacent to Bill Snyder Stadium and a three-minute drive from the National Bio and Agro Defense project. The firm is currently renovating the interior, adding features like quartz countertops, laundry units, landscaping and pool upgrades. Renovations should be complete in summer 2017 in time for the influx of Fall 2017 students.
But it’s not LANE4’s first foray into multifamily. The firm recently completed a similar transformation last year with the 107-unit University Villas, north of the University of Kansas Hospital and Medical Center.