The Yards Breaks Ground in Kansas City Stockyards District

March 14, 2018

KANSAS CITY – Flaherty & Collins Properties broke ground this week on The Yards, a $41 million mixed-use, luxury residential apartment development in the Kansas City Stockyards District.

The Yards, the biggest mixed-use residential project in the Stockyards District, will consist of 232 luxury market rate apartment homes and 3,150 square feet of commercial retail space and over 9,500 square feet of amenities.

“It’s important to the city that the Stockyards District has developments like this, where people can live and engage in the community,” said Kansas City Mayor Sly James. “We want to keep the artistic aspects, but also grow this area and bring the light rail transit to connect this area with downtown.”

“This project, much like what Flaherty & Collins Properties has done with the Union Berkley Riverfront site, will serve as a catalyst of growth and development in the Stockyards District,” said City Councilman Scott Taylor.

Comprised of studios, one and two-bedroom apartment homes, The Yards development – designed by Kansas City architecture firm KEM Studio – will be authentic to the district’s rich heritage by stitching together the iconic, modern Kemper Arena and the historic Livestock Exchange building. The Yards will be focused around the active lifestyle currently found in the Stockyards District, with access to the levy, Kansas River and trails.

“We look at the stockyards as a crown jewel for the long term in the Kansas City market,” says Ryan Cronk, Vice President and lead project developer for Flaherty & Collins Properties. “The Stockyards is transforming with restaurants, bars and art galleries. We don’t view it as pioneering as some people do. We think the Stockyards is going to be a fantastic neighborhood. It’s got a great vibe today and will continue to be.”

Bill Haw, owner of the Livestock Exchange Building and surrounding properties, is the seller of the land on which the apartments will be built.

“We are delighted that a developer of the reputation of Flaherty & Collins Properties recognizes the potential of the Stockyards District,” says Haw. “They will be a perfect fit with the commercial, entertainment and sports facilities springing up around the Livestock Exchange Building. Our confidence in the project is reflected in our willingness to participate in the financing of the apartments.”

The Stockyards District, home of the Livestock Exchange Building, once saw 66,000 head of cattle per week come through the stockyards.

The Livestock Exchange Building, which will be next to The Yards, was completed in 1911 and was the largest livestock exchange building in the world. It is listed on the National Register of Historic Places.

Across the street is the former Kemper Arena, which is undergoing a $39 million renovation into a youth sports complex. Kemper Arena is also listed on the National Register of Historic Places, and hosted the 1988 NCAA Men’s Basketball Final Four, as well as the 1976 Republican National Convention. The Kansas City Kings (NBA) played in the arean from 1974-1985, when the team moved to Sacramento. As recently as 2004, it hosted an NCAA first and second round.

Residents of The Yards will enjoy nearly over 9,500 square feet of amenities. The Yards will feature a communal lounge and co-working area, saltwater pool and outdoor living and kitchen area, a community demonstration kitchen, an activity lounge and Fitness Center featuring Fitness OnDemand^®, Bark Park and a Skydeck with panoramic views of downtown Kansas City. The Yards will be focused on custom service to their residence, featuring morning coffee service and other hotel-like amenities.

Apartments will include Euro-style kitchens with tile backsplashes, mudroom, mobile islands with quartz countertops, stainless steel appliances, smart thermostats, and LED lighting throughout.

Financial project partners include Citizen’s Bank & Trust, Equity Bank, First National Bank, and The Livestock Exchange. Additional project partners include: KEM Studio (architect), Landform (civil engineers) and Apex Engineers (structural engineers). MW Builders is the general contractor. The City of Kansas City (Missouri) and the Economic Development Corporation of Kansas City (EDCKC) have also been integral project partners.

The project, at 247,597 square feet, plans to be completed by the Summer of 2019. Learn more at www.theyardskc.com.

RiverHaus Ground Breaking in Covington, KY

December 14, 2017

Ceremonial turning of dirt

We had the pleasure of heading to Covington, Kentucky this week for the groundbreaking of our newest mixed-use, luxury apartment development – RiverHaus.

A $50 million mixed-use, luxury residential apartment development at the former site of Mainstrasse, RiverHaus consists of 192 luxury market rate apartment homes and 3,100 square feet of retail. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Northern Kentucky market.

Mayor Joseph Meyer

“This project is going to build on and add to the quality of life here on Mainstrasse,” said Covington Mayor Joseph Meyer.

Residents will enjoy nearly 7,000 square feet of amenities, including an amenity courtyard, featuring fire pits, bar, lounge areas, grilling station, and saltwater pool with a large wet deck. A sky deck will give residents views of the Covington and Cincinnati skyline. Interior features include a coffee lounge, club room, conference room, pet wash, bike storage and repair, gaming and study lounge and 24-hour fitness center featuring Fitness OnDemand®. The project includes a guest suite and concierge services.

“Everyone who lives in Covington will benefit from the impact this development will have,” said Flaherty & Collins Properties CEO David Flaherty.

Apartments will include polished quartz kitchen countertops, cultured marble vanity tops with integral sinks, tile backsplash in kitchen, stainless steel appliances, undermount faucets and sinks, LED lighting in entries, kitchens, bathrooms and closets.

“This project has been the vision of the city of Covington and we couldn’t have done it without them,” said Flaherty & Collins Properties lead project developer Deron Kintner. “We are very excited to partner with the City of Covington on this fantastic new mixed-use development, which we believe will be the destination for luxury urban living in Covington.”

RiverHaus Breaks Ground

TCF is providing the construction loan for the project. Core Real Estate Capital provided additional financial support of the development.

PACE Equity, the leading project developer and funder of CPACE (Commercial PACE) projects on a national basis, is providing approximately 10% of total development funding, at $4,400,000, for RiverHaus. The project represents an exciting milestone as the largest PACE multifamily new construction project nationally. TCF Bank is the major funding bank on the development.

“This project is the largest new construction multifamily project on a national basis to utilize PACE financing, which is very exciting,” Beau Engman, PACE Equity Founder & President. “It’s always great to see PACE utilized to transform a vacant lot into such a fantastic project for the area.”

Additional project partners include PDT/SFA Architects, Civil & Environmental Consultants, Inc., and Harrison Lynch & Brumlee. Flaherty & Collins Construction is the general contractor.

The project, at 341,925 square feet, plans to be completed in 2019.

Breaking New Ground – Stonewater at the Riverwalk in Elkhart

September 13, 2017October 27, 2017

This week, F&C descended on Elkhart to break ground on Stonewater at the Riverwalk, a $32 million mixed-use development of luxury apartments and retail located in downtown Elkhart at the site of the former Elkhart Foundry. And our crew couldn’t have been happier with the excitement surrounding the project.

Stonewater at The Riverwalk will consist of 205 luxury market rate apartment homes and 6,300 square feet of retail space. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Elkhart market.

“We are very excited to partner with the City of Elkhart on this new mixed-use development, which we believe will be the destination for luxury urban living in Elkhart,” says Brian Prince, lead developer for Flaherty & Collins Properties.

Residents will enjoy over 6,800 square feet of amenities, including an amenity courtyard featuring fire pits, bar, lounge areas, grilling station and saltwater pool with a large wet deck. Additionally, the project includes a coffee lounge, conference room, pet wash, fireplace lounge, community demonstration kitchen, bike storage and repair, plus a gaming and study lounge. A 24-hour fitness center featuring Fitness onDemand® will be available for residents as well as concierge services.

In a release prior to the event, City of Elkhart Mayor Tim Neese talked about what a boon the project will be for the Elkhart.

“In addition to business attraction and retention, housing is an important component of the city’s economic development strategy,” said Mayor Neese. “Without adequate housing, the population of our city increases daily and declines in the evening, as employees return to their homes in adjacent communities and spend their hard-earned money dining and shopping elsewhere. The addition of 205 downtown units in Elkhart will help to capture a portion of that population, resulting in new income, property and sales tax revenue. We hope that this will be a catalyst for future development projects citywide and will welcome more people to live and invest in the city of Elkhart.”

Apartments will include cultured marble vanity tops with integral sinks, stainless steel appliances, washer and dryer, undermount faucets and sinks, as well as LED lighting in entries, kitchens and bathrooms.

Project partners include CSO Architects, American Structurepoint (Civil Engineer) and Lynch, Harrison & Brumleve, Inc. (Structural Engineer). Financing provided by First Source Bank. Flaherty & Collins Construction is the general contractor.

The project, at 237,337 square feet, plans to be completed by the Spring of 2019.

Breaking Ground at The Breakwater

December 17, 2015

A swarm of Flaherty & Collins Properties development, construction and marketing team members descended on New Albany for the groundbreaking of our newest project, The Breakwater.

You can check our more coverage of this exciting project and details here.

But what you came to the F&C blog for is the behind the scenes stuff, right?

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Our road crew got an early start and prepped our stage show quite well.

Our Marketing Team, Derek Miller and Jaime Young, made the trip! Derek flew the drone for construction aerials and took all our awesome pictures of the event, while Jaime live-tweeted the proceedings.

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And here’s one of Derek’s aerial shots of the project site:

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Flaherty & Collins Properties CEO David Flaherty spoke about what the project will do for the City of New Albany and its residents. Among the highlights, a projected $30 million economic impact over the next five years and the creation of over 200 new construction jobs, not to mention the roughly 300 new residents that will be brought to downtown New Albany.