NorthPoint Development is approaching a triple crown when it comes to sought-after Class A apartment developments in western Wyandotte County, near the Kansas Speedway.
For the better part of this year, the Riverside-based developer has been advancing an approximately $52 million proposal to build a 323-unit third phase of Village West apartments between Parallel Parkway and State Avenue.
NorthPoint’s roots in Village West, in the vicinity of the American Royal’s new complex site and Cerner’s Continuous Campus, date back to 2013, when work began on the 306-unit Village West Apartments.
When the apartments opened in January 2014, the development proved “extremely successful,” with an 11- to 12-month lease-up, NorthPoint’s fastest to date at the time, said Brad Haymond, the company’s multifamily director.
A second 311-unit multifamily phase, christened Prairie View at Village West, broke ground to the west in July 2014, and was completed a little more than two years later, with a similarly warm reception on the leasing front.
“Multifamily seemed to be a need out there with how the absorption had gone,” Haymond said.
Prairie View at Village West features five apartment buildings clustered around a central courtyard with ponds, green space and the community’s pool — a design NorthPoint now intends to evoke next door with Village West III.
Compared with the previous two apartment phases, Haymond said the new complex will be built all the way out to Parallel Parkway, rather than stopping short.
The apartment buildings also will include studio units, a first among the three phases meant to cater to young professionals, and have flat, rather than pitched, roofs as an urban concept.
Village West III breaks down into 22 studios, 190 one-bedroom and 111 two-bedroom units, with monthly rent expected to be priced around $1.42 a square foot.
The Unified Government of Wyandotte County/ Kansas City, Kan., in February approved a development agreement for Village West III and expressed intent to issue up to $47.5 million in industrial revenue bonds that, factoring in payments in lieu of taxes, would create a 10-year, 50% property tax abatement for the project.
The incentive includes a reimbursement for NorthPoint in expanding Delaware Parkway to the west.
The UG’s full commission now is scheduled Dec. 3 to review rezoning, a preliminary plat and master plan amendment for the 15.92-acre Village West III site.
Workers are expected to break ground on the apartments in mid- to late 2021, with completion likely around the end of 2023. Once finished, Village West III will become NorthPoint’s fourteenth multifamily project developed.