Business

January 9, 2013

Michigan firm plans northeast apartment complex

A privately held real estate development and management company plans to begin work this spring on an apartment project that could eventually grow to 438 units.

A privately held real estate development and management company plans to begin work this spring on an apartment project that could eventually grow to 438 units.

Tom Wheatley of Michigan-based Edward Rose & Sons said Wednesday that the company has nearly 46 acres that it owns near 29th and Greenwich, where it will build Stoney Pointe.

Wheatley said the project could ultimately have 438 units, though it will probably start with construction of 30 to 60 units.

“It might be a four or five-year development,” he said.

Wheatley added that the company will build to meet the demands of the market, adding, “if the demand isn’t there, we will just stop” building additional units.

He said the company has had plans for Stoney Pointe for a couple of years.

“We think Wichita is a nice city, and we don’t have property there, and we thought it could be a good city for our product,” Wheatley said.

According to the company’s website – edwardrose.com – it operates apartment communities in 39 cities in 13 states. Its closest existing market is Springfield, Mo. It also operates apartments in Omaha and Lincoln, according to the website.

The company said on the website that it has built more than 65,000 units since 1965, and it owns and manages 57,000 of them.

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