The Opus Group (Opus), announced today the start of construction on a new three-story, mixed-use student living community on the edge of the University of Kansas campus – further advancing its development presence in the Kansas City market. The building will include 120 residential units accommodating 312 residents, as well as 8,200 square feet of retail.
“It's exciting to see the continued growth of Opus' Student Living platform as we begin construction on our newest project in Lawrence," said Ben Angelo, senior director, real estate development, at Opus. “This project will help meet the demand of an underserved market for student housing and provide the residents and the community with the best-in-class living and retail experience that Opus prides itself on delivering. Additionally, we are confident that it will serve as a catalyst for continued redevelopment of the 23rd Street Commercial Corridor, which will further enhance our project and the surrounding community."
Centrally located and just a few minutes from the University of Kansas campus on 23rd Street, the development is the first in Lawrence to use the new Smart Code portion of the city's zoning code, which will require this project to incorporate more civic spaces and encourage intermodal forms of transportation and less automobile usage. Therefore, future residents will have the option to take public transportation via an enhanced bus stop adjacent to the property, which is undergoing changes to make it more accessible for residents and community members. Furthermore, the project will include a Bike/Hike Oasis on the southern end of the property that will offer residents and trail users an area to refresh and relax. The trail leads directly to campus.
The building's indoor amenities will include a fitness center, spa with sauna, club room, game room, private and group study spaces and a podcast booth. The outdoor amenities will include a prominent outdoor terrace area along 23rd Street in front of the retail space for public use, an outdoor pool, fire pits, gas BBQ grills and an outdoor fitness area.
This project is a joint venture with The McKinney Fund & Company, with Central Bank of St. Louis and Central Bank of the Midwest providing the construction financing for the project. Construction begins in July 2019 and will be completed by July 2020, prior to the 2020 fall academic semester. Leasing for the apartments and retail space will begin in August 2019. Opus is the developer, design-builder, architect and structural engineer of record and interior designer on this project.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail, healthcare and institutional projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter and @theopusgroup on Instagram.