Briarcliff adding 340-unit luxury apartment project
07/18/2013 6:24 PM
07/18/2013 6:24 PM
Briarcliff Development plans to begin construction within two weeks on a 340-unit luxury apartment development, with the first apartments expected to be completed in about eight months.
The $43 million development, Briarcliff Riverfront Apartments, will be south of Missouri 9. It’s the third apartment project to be built over the years at Briarcliff, a pioneering Northland residential, office and retail development started by Charles Garney in 1989.
The new apartment complex consists of 11 buildings, said Michael McKeen, director of development and construction. A clubhouse and fitness center will occupy two of the structures, and the nine apartment buildings will be four stories.
About 44 percent will be one-bedroom units, starting at $940 a month rent. The rest will be two- and three-bedroom units renting in the mid-$1,500s. The amenities will include a saltwater pool, 3,500-square-foot fitness center, hot tub, library and game room.
“Our market will be young professionals and empty-nesters,” he said. “The convenience to downtown is a major asset.”
The first apartment building, clubhouse and fitness center are expected to open early next year. The entire project is expected to be finished by spring 2015.
The development will be near Northwest Briarcliff Parkway and Northwest Tullison Road. There will be 500 parking spaces, including 292 covered spaces.
Financing for the project is coming from Woodbury Strategic Partners. US Bank is the construction lender. The architect is NSPJ Architects, and Haren Laughlin is the general contractor.
The Briarcliff apartment project is the latest evidence of a resurgence in the multifamily residential market in metropolitan Kansas City.
Apartment construction through the first half of this year was up 229 percent from a year ago with permits for 1,702 units issued. It was the largest six-month total since 2001, according the Home Builders Association of Greater Kansas City.