Material Capital Partners (“MCP”), a vertically integrated real estate development and investment firm specializing in build-to-rent communities, announced it 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.
Harmony at Clear Creek also represents MCP’s third collaboration with financial partner Bluerock. Bank OZK provided construction financing, and Winchester Commercial Group is leading the vertical construction.
“This closing is an important milestone in our growth strategy,” said Alex Chalmers, Founder and Managing Partner of Material Capital Partners. “We identified Kansas City three years ago as a supply-constrained market with strong demand, and it has become one of the fastest rent growth markets in the country.”
“The rapidly emerging role of build-to-rent communities helps meet our nation’s housing shortage,” adds Chalmers. “Our MCP team is excited to contribute our project to the Shawnee community and deliver a thoughtfully planned neighborhood that creates long-term value for residents and our investors.”
Harmony at Clear Creek builds on the momentum of MCP’s BTR Development Fund I and joins a growing pipeline of build-to-rent communities currently in development. These include Indigo Cove, an 83-unit upscale townhome community in Bluffton, South Carolina, and River Ford, a single-family cottage neighborhood in Brunswick, Georgia, both of which are now under vertical construction.
“We are thrilled to be partnering with MCP on our third BTR project together,” said Andrew Albano, Senior Vice President at Bluerock. “The confluence of limited residential rental supply and extremely strong demand fundamentals, particularly for this product segment, will position the project to be very well received in the market.”
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. Interior finishes will feature granite countertops, stainless-steel appliances, walk-in showers, and spacious walk-in closets.
The community is designed in a new urbanist style with a focus on walkability, wellness, and green space, giving residents access to a suite of upscale amenities designed to foster community living. Planned features include a clubhouse with a fitness center and co-working spaces, resort-style pool with a splash pad, large dog park and pet spa, pocket parks, and walking trails interwoven through the site’s natural landscape.
Strategically located in one of the fastest-growing suburbs in the Kansas City metropolitan area, Harmony at Clear Creek benefits from nearby access to Highway 7, which connects residents to downtown Kansas City and key employment centers throughout Johnson County. Ranked among the top places to live in Kansas and boasting a population growth of over 10 percent in the past decade, Shawnee is emerging as a premier residential destination in the Midwest, offering award-winning schools, abundant parks, and a strong sense of community.
Harmony at Clear Creek’s location combines suburban tranquility with strong connectivity, making it a highly desirable address for both families and professionals. The self-contained site also exceeds the City of Shawnee’s green space requirements, reflecting MCP’s broader mission to create high-quality communities that fit naturally within their environment and add long-term value to surrounding neighborhoods.
The community will be built by Winchester Commercial Group, MCP’s longstanding construction partner for its build-to-rent portfolio, with anticipated first units available for rent in October 2026 and the full project completion targeted for February 2028.
With Harmony at Clear Creek representing the final investment of Fund I, MCP has already begun deploying capital from BTR Development Fund II, starting with the recently announced Mill Landing, a 163-unit development now underway in Greer, South Carolina.
