Centered on sustainability and flexibility, Box Development is set to open Blume Shawnee summer 2022
Nicole Dolan – Staff Writer, Kansas City Business Journal
Published Jan 31, 2022
A Lee's Summit developer will open its first Johnson County middle-market housing options this summer.
Box Real Estate Development built Blume Shawnee, an $8 million 14,700-square-foot mixed-use development at 6115 Nieman Road, in Shawnee's federal Opportunity Zone.
Russell Pearson, Box's director of development, described Blume Shawnee as a middle product that replaces a prospective resident's need for a single-family detached home while also pairing front entry privacy with walkability to the city's downtown.
"People are limited between either going into a large office building or working from home, and neither of those are ideal solutions," Pearson said.
Blume Shawnee includes two sets of six attached three-story buildings arranged around a European-inspired courtyard, with a total of seven two-story, 2,056-square-foot lofts; 10 single-story, 1,490-square-foot flats; and 12 ground-level retail or office units ranging from 523 to 700 square feet. The residential units are either two- or two-and-a-half bedrooms.
The project's apartments will rent for $2,000-$2,100, and its offices range from $900 to $2,500.
Opportunity Zone regulations require residences in the area to be owned and leased by Box for 10 years. After that period, the developer seeks to offer the individual units for sale, including through a purchase option program that allows occupants to earn equity over time.
The area has a market for such products. According to Kansas City real estate marketing firm Highline Hospitality Partners' 2022 millennial housing survey, 64% of millennials said they couldn’t find enough options in their price range, and 38% don’t plan to move anytime soon.
Blume Shawnee Vertical Mixed Use Townhomes
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