March 25, 2020
Watermark Residential, a wholly-owned affiliate of Thompson Thrift, acquired 23 acres in Kansas City, MO, with plans to develop The Element by Watermark, a 276-unit Class A apartment community. It will be Watermark’s third development in Missouri.
“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 CEO of Thompson Thrift and Watermark Residential.
He added, “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.”
Watermark’s planned multifamily community will consist of three-story, garden-style apartment buildings with one, two and three-bedroom units. Community amenities will include a clubhouse, 24-hour fitness center, a resort-style swimming pool with cabana, and pet-friendly “bark park” and doggie spa.
For comments, questions or concerns, please contact Paul Bubny