Quarter One Update

Q1 Update

As part of our commitment to transparency and keeping you informed, we are pleased to share our Quarter 1 update highlighting significant achievements and milestones at Sallee Development.

Land Development: Our land development efforts have delivered EIGHTY lots in Raymore-Peculiar at the Estates of Knoll Creek and Tuscany. Additionally, we are pleased to announce the sale of 34 lots to Rausch Coleman in Traditions in Belton, marking significant progress in expanding residential opportunities in the region.

Residential Sales: The residential sector witnessed remarkable growth, with the close of TWENTY-TWO homes in Q1 and TWENTY more contracts pending. Notably, we experienced an upsurge in sales activity starting in mid to late February, culminating in high sales in March.

Multifamily Development: In Blue Springs and Spring Hill, we successfully delivered THIRTY-EIGHT new units across Chapman Ridge and Oak Woods. Looking ahead, we’re excited to announce an additional FORTY-FOUR units have been started and slated for completion in 2024.

Leasing: In all our multi-family communities across the metro, we leased FORTY-TWO units. And are nearing 100% occupancy.

We are gearing up for an exciting period of growth across Kansas City in Q2. Our flagship project, Barry West, is set to kick off with a $50 million investment, starting with phase one’s 182 units out of a total of 364, strategically positioned off Barry Road in Kansas City’s Northland. Additionally, we’re initiating a $20 million endeavor at Rustic Heights, where phase one will see 88 units, eventually constructing 176 in total.

We are thrilled to announce the commencement of development on the 4th and final plat at Woodland Crossing, a new home community in Spring Hill, Kansas. Our team is also excited to break ground on a new Hidden Hills project also in Spring Hill, comprising a mix of single-family residences and townhomes, totaling 336 units, with 240 single-family homes and 96 townhomes. These projects represent our commitment to expanding within the region’s real estate landscape, and we’re eager to see them come to fruition.