The Yards Breaks Ground in Kansas City Stockyards District

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

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

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.

The Arbuckle Breaks Ground in Brownsburg

BROWNSBURG, IN – Flaherty & Collins Properties has officially broken ground of The Arbuckle, a $40 million mixed-use, luxury residential apartment development at Arbuckle Park in downtown Brownsburg. In a ceremony held Wednesday, August 23, members of the Brownsburg Town Council, the Redevelopment Commission and Flaherty & Collins Properties came together to officially turn dirt on the new project.

The Arbuckle will consist of 208 luxury market rate apartment homes. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Brownsburg market.

“We are overjoyed that F&C has chosen to be a part of our community and our town of Brownsburg,” says Grant Kleinhenz, Town Manager of Brownsburg. “This public-private partnership will transform North Green Street into a vibrant, pedestrian-friendly economic center and a more welcoming downtown. This is only the beginning.”

“This development will help take Brownsburg to a whole new level,” added David Flaherty, CEO of Flaherty & Collins Properties. “We wouldn’t be here if Brownsburg hadn’t been investing so greatly into its community. This vision of a walkable, bikable, connected society is what we’ve had, and today you see that vision coming to fruition.”

Residents will enjoy nearly 7,000 square feet of amenities, including a courtyard with fire pits, bar area, grilling station and saltwater pool with a large wet deck. Paved terraces will also be present throughout the property. Interior features include a coffee lounge, fireplace lounge, conference room, pet wash, bike storage and community demonstration kitchen. A gaming and study lounge will also be available to residents looking to relax and unwind. A 24-hour Fitness Center featuring Fitness onDemand® will be featured on the main ground floor, and the project will feature a guest suite.

Learn more by visiting ArbuckleApts.com or reach out to the site at TheArbuckle@flco.com.

2700 University Unveiled in Grand Opening Ceremony

On Tuesday, Flaherty & Collins Properties officially cut the ribbon and opened our latest project, 2700 University, in Saint Paul. The project, a $54 million mixed-use, transit-oriented luxury residential apartment development near the Green Line Westgate Light Rail Transit station, features 248 luxury apartments, with 80% of the apartment homes set for market rate and 20% for affordable.

We were joined and honored to have City of Saint Paul Mayor Chris Coleman as our primary guest speaker. Mayor Coleman spoke highly of the project and the need for affordable housing that new residents will be proud to call home.

City Council President Russ Stark congratulated team members on a job well done, remarking about how wonderful the project was and what it meant to the community.

Other guest speakers included Michele Smith, Minnesota Field Office Director for HUD, Pam Daniels-Halisi (BMO) and our own lead developer on the project, Ryan Cronk.

The event featured local brews, Topeca coffee (the future retail tenant at 2700) and music by the Ned Canter Trio. And of course, with it being December in Minnesota – we had to do an ice sculpture!

Many of the F&C team traveled up for the festivities and can state with first-hand experience, the Light Rail Transit system is the way to go (it helped us catch our flight home)!

We’d like to thank all our guests, as well as our project partners – LISC, HUD, NEF, The Met Council, the City of Saint Paul, BMO, Landform, Kraus-Anderson, and Urbanworks for a terrific, powerful project.

Residents of 2700 University will enjoy features and amenities that include: A first floor bar/coffee shop; high speed Wi-Fi throughout; a state-of-the-art 1,400 square foot fitness center featuring Matrix Fitness equipment, a yoga studio, and Matrix® MyRide+ Group Cycling; a year-round, resort-style heated saltwater pool with wet deck, and a hot tub with a heated deck; a 20,000 square foot courtyard; an Outdoor Living Room with fire pits, commercial grade grills, and outdoor furniture; a 1,600 square foot Bark Park with a Dog Park Express Course including a water station and waste area; bike storage with repair tools, stands and pumps; and underground parking.

Apartments will include: 100% LED lighting; luxury wood-style flooring in the kitchen, entries, and living area; oversized flat slab kitchen cabinets with custom hardware; premium carpet in bedrooms; oversized energy efficient windows; front load, full size Energy Star-rated washer and dryers; quartz countertops; Nest® thermostats; frameless shower doors; and recessed/decorative patios or balconies.

Learn more at www.2700university.com.