ROELAND PARK, Kan. — The Rocks development in Roeland Park will move forward under a new developer.
On Tuesday, the Roeland Park City Council unanimously approved a land purchase agreement with Overland Park-based EPC Real Estate Group for roughly 7 acres near 4800 Roe Parkway.
The property is the site of the former city swimming pool, commonly known as The Rocks. The property includes four lots that have limited use due to an in-ground storm water detention facility under a majority of the property.
Despite entering into a land purchase agreement with Sunflower Development in January, the city never closed on the property. Under the new agreement, EPC will purchase 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 estimated 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, roughly 5% will be set aside as affordable housing units.
“EPC is not permitted to close on the purchase without first successfully entering into a development agreement for the site,” Mayor Mike Kelly said.
The council must approve final development plans for the property before any work can begin.
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