Milhaus Announces Newest Kansas City Development

Milhaus has broken ground on its latest Kansas City development in the historic Volker Neighborhood.

INDIANAPOLIS (Aug. 10, 2022) – Milhaus, a national award-winning developer, owner and operator of Class-A, in-fill and mixed-use developments, announces it has closed on its next property in Kansas City. The new development, located in the historic Volker neighborhood off of 39th Street’s Restaurant Row, will be Kansas City’s premier destination for residents seeking walkability, with easy access to dining, shopping, culture and entertainment footsteps away. The $66.8 million project will feature 226 studio, 1- and 2-bedroom apartments at a bustling intersection of three popular neighborhoods.

Nestled between State Line Road, 39th Street and Bell Street, the community will weave together three different corners of Kansas City, including the character and historic touches of Volker and 39th Street and the new construction of the University of Kansas Medical Center (KUMC). Boasting a Walk Score® of 87, residents will be in close proximity to KUMC and local restaurants, coffee shops, retail and art.

“This project will capture the true spirit of the surrounding neighborhoods,” said John McGurk, Vice President of Development for Milhaus. “Its interiors will be a calming oasis from the hustle and bustle of the adjacent hospital and vibrant nightlife, while also tying in historic residential features from the Volker Neighborhood with subtle pops of flare and art that are representative of funky 39th Street.” 

Preserving the surrounding area with an appreciation of its history is a top priority for Milhaus and local residents. Much of the neighborhood’s charm is attributed to its mature trees and unique architecture. With Volker hosting an eclectic mix of truly local styles such as “Kansas City Shirtwaist,” four-square and colonnade, in addition to the more modern bungalow and 50’s ranch-style homes, the project will seamlessly incorporate portions of the surrounding area’s look and feel. Notably, the historic Scotford Building on Bell Street, formerly owned by President Harry S. Truman, will be honored and preserved by the development. The east side of the project’s exterior will take its styling cues from the Scotford’s red brick colonnade facade.

“We’ve enjoyed working closely with our new neighbors to ensure that the beauty and history of the neighborhood remain undisturbed,” said McGurk. “Our goal is for the community to be a great addition to the area that only adds to its charm.”

Milhaus worked with several long-standing partners to finalize this latest opportunity, including Kansas City-based Cadence Commercial Real Estate, Humphreys Capital and CrossFirst Bank.

“Our partnership is very pleased by the opportunity to work with a best-in-class development partner like Milhaus,” said Trip Ross, Principal of Cadence. “Our development principles and sense of obligation to the community were aligned from day one. For the past several years, we’ve enjoyed being a part of the Volker and 39th Street communities, and we now very much look forward to working with the 39th and State Line community on this unique project – combining the historic buildings and the iconic local merchants of Jamestown Square with a modern apartment project and parking facility.”

“Working with Milhaus, a long-time partner with whom we have built a great relationship, is always a pleasure,” said Todd Glass, Senior Managing Director of Investments at Humphreys Capital. “This project is truly unique, and we couldn’t be more excited to be part of preserving the prominence of Volker while highlighting the economic significance of KUMC.”

Financing for the project was secured through CrossFirst Bank. “We have enjoyed working with Milhaus’ sophisticated team of professionals and are excited to be part of the latest development in the historic Volker neighborhood,” said CrossFirst Bank Commercial Real Estate Banker, Andrew Gillenwater. 

The development will be a pet-friendly community with ample parking and plenty of places to work and relax, including co-working and work pods, conference spaces, a 24-hour fitness center, aqua lounge, movie room, outdoor pool, outdoor living room, pet spa, bike parking, secured garage parking, a package hub, private storage rooms and much more.

Milhaus is again partnering with architect and interior design firm Helix and civil engineer Taliaferro & Browne Inc. to realize this new property. This project is Milhaus’ ninth project in the Kansas City metropolitan area and will bring Milhaus’ total apartments in the area to close to 2,000 units. Construction begins in August and is set for completion in October 2024.

ABOUT HUMPHREYS CAPITAL

Humphreys Capital is a real estate investment company that acquires, develops, and operates income-producing, multi-sector properties including industrial, multifamily, office and retail. The firm’s investment and development focus is on dynamic high-growth markets across the United States, where it specializes in privately negotiated off-market, mid-size deals of institutional quality. The multigenerational team provides seasoned expertise and exposure to diversified commercial real estate for accredited and institutional investors. The firm has raised more than $675 million since inception across four funds. Visit www.humphreyscapital.com for more information.

ABOUT CROSSFIRST BANK

CrossFirst Bank, headquartered in Leawood, Kansas, is a subsidiary of CrossFirst Bankshares, Inc. (Nasdaq: CFB), a Kansas corporation and a registered bank holding company. CrossFirst Bank has nine full-service banking offices in Kansas, Missouri, Oklahoma, Arizona, and Texas. For more information on CrossFirst Bank, visit www.crossfirstbank.com.

ABOUT CADENCE

Cadence Commercial Real Estate is a full-service commercial real estate firm focused on sourcing opportunities for valued retailer clients and for the Cadence investment/development platform. Cadence currently oversees a real estate portfolio primarily comprised of Class-A neighborhood retail centers with a secondary focus on GSA net leased build-to-suits and industrial properties. Learn more at cadencekc.com.