Park Place adding $40 million residential phase

03/04/2014 5:07 PM

03/04/2014 5:07 PM

The first luxury apartments at the Park Place development in Leawood are expected to open in April, adding residential to what has been a successful development blend of office and retail at 117th Street and Nall Avenue.

The 34-acre development that opened six years ago across Nall from the Sprint headquarters campus always had residential included in its development master plan, and the $40 million first phase is a mix of 177 apartments and town houses. Ultimately, about 300 residential units are expected.

Axis, the first building scheduled to be completed, will have 27 loft-style apartments ranging in size from 1,000 to 1,467 square feet. The monthly rents will range from $1,645 to $2,650. Each will feature an outdoor balcony, 10-foot ceilings, gas-burning fireplaces, stainless steel appliances and other luxury amenities.

The remainder of the first residential phase are two apartment buildings, Parkside East and Parkside West, which will total 120 apartments, and 30 townhomes. Those buildings will face a small park. The size of the residences will range from 760 to 2,092 square feet, and monthly rents will range from $1,150 to more than $3,000.

Melanie Mann, co-developer of Park Place with Jeff Alpert, said the apartments are attracting a range of people from young families to empty-nesters, with single professionals in between.

The Park Place development now has 350,000 square feet of office space, 125,000 square feet of retail, a 193-room Aloft hotel and a 700-space garage.

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