JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it has acquired The Residences at New Longview, a newly constructed 309-unit luxury apartment community in suburban Kansas City.
Located in Lee's Summit, Mo., The Residences at New Longview is adjacent to another luxury JVM community, the 206-unit New Longview Apartments. The properties are situated about 20 minutes from downtown Kansas City and in one of the nation's most thriving suburbs. Lee's Summit was ranked No. 43 in Money's 2016 "Best Places to Live" listing.
"There could not be a more perfect fit for JVM than The Residences at New Longview," said Jay Madary, president and CEO of JVM, which owns and manages luxury apartment communities in secondary and tertiary markets in the Midwest. "Lee's Summit is a truly dynamic city, one that offers high-paying jobs and plenty of opportunities for recreation and entertainment. With the favorable demographics in the area and the implementation of our top-notch marketing and revenue-management platforms, we see plenty of opportunity for demand and revenue growth at this community. Plus, with these adjacent properties, we will be able to offer prospects multiple options at different price points."
The Residences of New Longview is conveniently located near I-470, I-435 and U.S. 50, enabling residents to easily move about the metro Kansas City area. The community is just a short drive from the Summit Technology Campus, which is home to Cerner, a health information technology provider and a major employer in the area. The campus is indicative of Lee's Summit’s broad-based economy that has benefited from strong growth in various sectors, including healthcare, technology and education.
The submarket’s economy also benefits from a strong retail sector, which includes the Summit Woods Crossing and Summit Fair shopping centers. Summit Woods Crossing is home to Bath & Body Works, Best Buy, Eddie Bauer Outlet, Helzberg Diamonds and Target. Among the notable retailers in Summit Fair are Chico's, Jos. A. Bank and Macy's. St. Luke’s East Hospital and the numerous adjacent smaller medical centers are in the area as well, and the community is located within Lee Summit's highly acclaimed public school district.
Outdoor enthusiasts will enjoy nearby Longview Lake Park, which includes a 930-acre lake, public golf course, beach facilities, boat ramps, hiking/biking trails, camping sites and horse park.
The 15-acre Residences of New Longview offers one- and two-bedroom homes. The apartment homes feature gourmet kitchens, granite countertops, stainless steel appliances, 9- to 12-foot ceilings with crown molding, and full-sized washers and dryers.
Community amenities include a resort-style, saltwater pool; clubhouse with business center, theater and pub; massage therapy room; tanning bed; and Google Fiber TV and Internet service.