Paragon Star

• Lee’s Summit is among the fastest growing, most popular suburbs of the Kansas City Metro, consistently rated among the ‘Best Places to Live’ in the US.
• The Lee’s Summit Economic Development Council commissioned a multifamily study, which identified a need for 2,300 additional market‐rate apartment units over the next decade, over and above existing supply or projects in the pipeline.
• Higher Per Capital Income than many other KC suburbs
• Rent Growth: 6%/year
• Great Education system –both public and private, including K‐12 through Junior College/University
• Strong City Management –Development provided incentives via City initiatives

Property Description

Paragon Star: A Transformative Development OpportunityParagon Star as a Cornerstone of EvolutionParagon Star represents more than just a development project; it's a key element in the growth of Lee's Summit and the Kansas City metropolitan area at large. Seeking a distinguished investor/builder, this opportunity aligns with those who have a vision for transformative development and wish to partner with the Paragon Star Master Development team.Leadership and VisionThe team is led by Flip Short, an innovative leader with a successful track record, alongside partner Bill Brown. With a decade dedicated to bringing Paragon Star to life, their commitment to quality and philanthropy offers a unique chance to be part of this community-focused vision.Location: The Heart of GrowthLocated in Lee's Summit, MO, Paragon Star enjoys a strategic position within a rapidly growing suburb known for its quality of life and economic growth. It offers direct access to major transportation and is part of a 200-acre mixed-use master plan, enhancing its community integration and appeal.The Opportunity: Beyond InvestmentThe project benefits from city incentives, including sales tax abatement, with all entitlements and funding avenues in place. With a construction estimate of $55.8 million, Paragon Star presents a profitable investment opportunity with a clear execution path.Market Overview: Demand Meets OpportunityA multifamily study highlighted a significant need for market-rate apartments, a gap Paragon Star is poised to fill. With higher income levels and proximity to major employers, the project is situated in an area of growing demand and anticipated rent growth.Strategic Partnerships and SupportInvestors can leverage partnerships with Finkle + Williams Architecture, Brinkman Constructors, and local authorities for a smooth development process, ensuring high standards of excellence and innovation.Paragon Star: An Investment in the FutureParagon Star offers an investment in a vision of community, innovation, and growth for Lee's Summit. With a solid foundation and the sporting fields already in use, the project seeks new partners to realize its full potential amid a vibrant and growing community.