Material Capital Partners has secured $77.8 million in project financing and started construction on Harmony at Clear Creek, a 188-unit build-to-rent residential community in Shawnee, Kansas, just southwest of Kansas City.
The closing marks a major milestone for Material Capital Partners as it expands into the Midwest and completes the final investment from its BTR Development Fund I. Harmony at Clear Creek also represents the company’s third collaboration with financial partner Bluerock. Bank OZK provided construction financing, and Winchester Commercial Group is leading the vertical construction.
Harmony at Clear Creek will deliver 188 single-family homes and townhomes on approximately 40 acres, offering a mix of three- and four-bedroom floor plans ranging from 1,600 to 2,400 square feet. Each residence will include a two-car garage, private patio, fenced backyard, and mudroom with built-in storage cubbies. The community will be built by Winchester Commercial Group, Material’s longstanding construction partner for its build-to-rent portfolio.
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