ROELAND PARK, Kan. – The Rocks development in Roeland Park will move forward under a new developer.
Tuesday, Roeland Park City Council unanimously approved a land purchase agreement with Overland Park-based EPC Real Estate Group for roughly 7 hectares near 4800 Roe Parkway.
The property is the site of a former municipal swimming pool, commonly known as The Rocks. The property includes four lots that have limited use due to underground stormwater detention facilities on the majority of the property.
Although entering a land purchase agreement with Sunflower Development in January, the city never closed on the property. Under the new agreement, EPC will buy the land for $3.45 million, or roughly $12 per square foot.
In June, the council approved a memorandum of understanding (MOU) with EPC to create a new mixed-use development on the property. The project is expected to cost $50-75 million to complete and will include the construction of 200 apartment units, 3,500 square feet of retail space and a restaurant.
Of the new apartment units, approximately 5% will be set aside as affordable housing units.
“EPC is not allowed to close on the purchase without first successfully entering into a development agreement for the site,” said Mayor Mike Kelly.
The council must approve a final development plan for the property before work can begin.
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