Construction has begun on the 308-unit Summit Square Apartments, a luxury community slated to open later this year in a rapidly developing area near U.S. 50 and Interstate 470.
The $40 million apartment project is part of a $200 million, 80-acre development called Summit Orchards, which also includes the new Summit Technology Academy/Missouri Innovation Campus building, a 90-room Holiday Inn Express and space for new restaurants, offices and shopping and entertainment venues.
Collaborating on the apartment development are Townsend Capital, NorthPoint Development and Neighbors Construction. The group broke ground Nov. 30.
“We are excited to partner with Townsend Capital and continue our commitment to bring luxury living to Lee’s Summit and the community,” Mark Pomerenke, vice-president at NorthPoint Development, said in a news release. “We feel this is a great area, and provides close access to both retail and restaurants for our residents.”
The Holiday Inn Express is scheduled to open in the spring. The new Summit Technology Academyt/Missouri Innovation Campus, opening in August, is home to a fast-track college degree program offered through a partnership of the Lee’s Summit School District, the University of Central Missouri and the Metropolitan Community College system.
The Summit Square Apartments should be completed in the fall/winter of 2017. Renters can choose one- or two-bedroom apartments, with or without a den. Sizes vary from 725 to 1,572 square feet, and monthly rents range from $960 to $1,929.
“This isn’t a project in theory. It’s a project in motion,” Townsend Capital partner Steve Rich said in a statement.
In addition to the apartments, Summit Orchards will include more than 250,000 square feet of shopping center, retail and office space.
In the same general area are the Summit Technology Campus, where AT&T once operated a microelectronics plant, and retail developments like the Summit Place, SummitWoods Crossing and Summit Fair shopping centers.