Home News Fairway commission approves plan for ‘active adult’ apartments off SM Parkway

Fairway commission approves plan for ‘active adult’ apartments off SM Parkway

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This week’s fairway planning committee is unanimous Proposing $ 65- $ 70 Million “Active Adult” Apartment At the vacant fairway office park on the 4200 block of the Shawnee Mission Parkway.

At a meeting on Monday night, the Commission approved the project’s final development plan, site plan, and parcel.

What happens next: On June 13, city secretary Kim Young said in an email on Tuesday.

  • The final site and development plan do not need to return to the council.

project: The EPC Real Estate Group is the lead developer of the project and the Kansas City-based holding company Platform Ventures is a co-developer.

  • Austin Bradley, Executive Vice President of EPC, said in an interview Tuesday that the apartments range from about 700 square feet to about 1,600 square feet and have one or two bedrooms.
  • Rent ranges from about $ 1,500 to about $ 3,800 per month.

When will the work begin? Demolition will begin in late summer or early fall and will be built by the end of the year, Bradley said. Construction is expected to take two years to complete.

  • Henry Clover, President Clover Architects At Renexa, I gave a presentation to the Commission on Monday about the updated plans for the project. He said he expects work to begin shortly, including the project’s utilities, easements, and water pipes, and that a permit application be submitted within the next three to four weeks.

detail: According to council documents, the final plan for the project will require approximately 250,000 square feet of 210 apartments and 336 parking spaces (289 in the garage and 47 spaces above ground), excluding 5.3 acres of parking.

Equipment includes:

  • Club room
  • Concierge service
  • Wellness & Fitness Center
  • Event / Display Kitchen and Bistro
  • Cinema
  • salon
  • Two outdoor courtyards with swimming pool, outdoor kitchen, fire pit, meeting space and community garden
  • Creative Art Center

Some concerns addressed: Planning Committee Chairman Wendy Bailey asked Clover about concerns that light from development could hit the backyard of a nearby home and how the project would affect traffic in the area.

  • The plan included the results of a short traffic survey that concluded that the project had less traffic than the site’s previous office park. A complete traffic survey will take several years to carry out.
  • With the exception of the drive lane, Clover said, “There is no lighting that I consider to be light pollution. They are all controlled. They will not shine.” This includes window and deck lighting, ground. He said it would include lighting.

Public incentives: Council Approved tax increase loan district For the project last November.

  • MarchThe council passed the ordinance (on page 72) Linked document) By a 6 to 2 vote to adopt the redevelopment plan and approve the redevelopment contract for the project. Two-thirds of the votes, or majority votes, were required to pass the ordinance.
  • The council also approved a 6-2 voting resolution to issue up to $ 27 million in industrial revenue bonds for the project.
  • The bond exempts developers from paying sales tax on building materials, furniture, fixtures and equipment, according to a representative of the city’s bond adviser. The city is not responsible for the payment of public bonds, and the issuance of public bonds does not affect the city’s credit rating.
  • Bradley told the Shawnee Mission Post in March that the city’s 20-year value for TIF was limited to $ 10 million, of which about $ 7.5 million would be paid to parking.

TIF Is a public financing tool that allows private developers of devastated real estate to reimburse qualified development and infrastructure costs using the new real estate or sales tax revenue increments generated by the development.

When deciding whether to grant a TIF, the economic feasibility of development without a TIF is considered.

Request? The developers hired a Texas-based consulting firm to do market research and determined that larger units were in greater demand than studio apartments.

  • Bradley also said in March that the development team conducted a market research up to 10 miles from the project site and concluded that the area had a “significant aging population.” He said the project would provide rental space for residents over the age of 55 who want to stay on the fairway.

Return to TIF: The city said in March that developers would pay the community more than $ 3.1 million over 20 years in return for TIF and industrial revenue bonds. However, payments for potential traffic improvements are excluded.

  • Pay more than $ 2.7 million to the city to enhance public safety.
  • Pay up to $ 100,000 to the city as an administration fee.
  • We will pay Approximately $ 200,000 to Integrated Fire District # 2 for additional fire and safety needs.
  • Pay at least $ 5,000 a year to the Shawnee Indian Mission Foundation.
  • Pay up to $ 500,000 for unexpected traffic improvements identified within the first two years.

Jerry La Martina is a freelance journalist and a frequent contributor to the Shawnee Mission Post and other publications in the Kansas City region.He can reach at [email protected]

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