May 16th, 2018 | The Wichita Business Journal | See the full article here.
By Josh Heck – Reporter, Wichita Business Journal
May 16, 2018, 10:23am
The once grandiose plan for the Parkstone at College Hill development is being simplified under its new ownership.
“Mike Brand, managing partner of Uptown Landing LLC, tells the Wichita Business Journal the nine-unit brownstone homes near Douglas and Hillside are being renamed Uptown Quarters. He says the existing structure will remain, but no other residential dwellings will be added.
The original plan called for a 14-story high-rise tower, 87 condos and 50 brownstones. A four-story building of residential flats and a retail building with loft apartments also was proposed.
But that plan never materialized, and the developers behind the $25 million Uptown Landing development nearby saw an opportunity to expand their project and free Legacy Bank of an unwanted asset. The WBJ reported on the ownership change Tuesday.
“It was a good fit for our overall (development) picture down the road,” Brand says.
The brownstones, he says, add another living option to the Uptown Landing development. That project includes 201 apartment units and 18,000 square feet of ground-floor commercial space at Douglas and Rutan.
Last Summer, Uptown Landing purchased 4.5 acres of land northeast of Hillside and Douglas. That entity purchased the land from the city of Wichita for $300,000.
Terms of the brownstones purchase were not disclosed.
Brand says the new owners have ramped up their marketing efforts of the brownstone units over the past month. Six of the nine units are pre-leased, he says.
Weigand-Omega Management Inc. is in charge of the leasing and property management of those units. That’s the same company that will be marketing the Uptown Landing apartments.
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NAI Martens was selected as the leasing brokerage for the ground-floor commercial space. Nathan Farha and Jeff Englert are the leasing agents.
Brand says he can’t yet give specifics on tenants for the commercial space, but notes a strong interest in the property so far.
Conco Inc. is the general contractor.
Spangenberg Phillips Tice Architecture is the architect. Intrust Bank and Emprise Bank are financing the project.
Seeders Inc., owned by Uptown Landing partner Linda Davison, is the landscaping contractor. Brand Plumbing, owned by Brand, will plumb the building. Cook’s Heating and Cooling, another business in which Brand has an ownership stake, is the heating, ventilation and air conditioning contractor. M&J Electric of Wichita LLC is the electrical contractor.
Needham DBS in Kansas City is the project engineer.
Some of the project could be completed as early as August.”