Indianapolis-based commercial real estate development firm Watermark Residential is building a 276-unit class A apartment complex in Kansas City, in Clay County. It will be located at 8101 Northwest Barrybrooke Drive, just east of Interstate 29.
Watermark recently purchased 26 acres to build the project, called The Element by Watermark.
“The Kansas City area is experiencing prolific growth, and there is a significant shortage of new supply as more people move into this area seeking quality multifamily rentals,” said Paul Thrift, president and chief executive officer of Thompson Thrift, which owns Watermark Residential as a subsidiary, in a press release. “There are no other projects under construction in this submarket, except for our own Watermark at Tiffany Springs, which has already commenced its lease up.”
The complex will be made up of three-story garden-style apartments, with one, two and three-bedroom units. It will also feature a fitness center, pool and dog park, among other amenities. It is the company’s second area development after Watermark at Tiffany Springs.