Ryan Cos. Breaks Ground in Kansas City Metro
Showcasing Scandinavian-themed architecture, Overland Park’s The OsLo will focus on health and wellness.
The OsLo is slated for a 2025 completion. Image courtesy of Ryan Cos.
Ryan Cos. has broken ground on The OsLo, a Class A apartment community in Overland Park, a suburb of Kansas City, Mo., and Kansas City, Kan. Security Bank is providing construction financing.
Construction began at the property, which is situated at 135th Street and Antioch Road, in September. The four-story, 413-unit luxury community is slated for completion in fourth quarter of 2025.
The property is being developed alongside Ryan Cos.’ operating partner, developer and property manager EPC Real Estate Group. The 550,000-square-foot project will feature an amenities package that will include dedicated work-from-home and co-working areas with high-speed wireless connectivity and group gathering spaces. Apartments will offer smart technology for the adjustment of thermostats and other controls.
The Kansas City area has outperformed in the first three quarters of this year.
Clearing multiple hurdles
“We proposed this project last year as economic headwinds were impacting the entire commercial real estate industry,” Brandon Brensing, vice president of real estate development for Ryan Cos., told Multi-Housing News. “From volatile construction materials costs to high interest rates, we encountered a number of hurdles that in most cases would make getting to the finish line nearly impossible.”
“Ryan’s holistic approach was crucial in allowing us to move forward with The OsLo,” Brensing added. “Our internal teams collaborated to efficiently find solutions to the challenges we faced. We were able to procure and secure construction materials in advance that helped temper the volatile pricing and lead times. Additionally, our capital markets team was able to work diligently to source the financing required to move this project forward.”
NSPJ Architects is the architect of record on the project, while Olsson is the civil engineer and Lankford & Associates are providing MEP engineering. Bob D. Campbell & Co. is the structural engineer.
