Happiness Plaza Retail Center is redevelopment project of a 17,275 mid-century retail center built in 1968 located in the College Hill neighborhood in Wichita, Kansas.
In the same transaction on June 28, 2019, Edgehill Investments also purchased a 2,189 square foot single family residential home built in 1925 directly south of the plaza and two freestanding adjacent buildings built in 1952 and 1919 (1,473 square feet and 1,328 square feet) to the west of Happiness Plaza. The superior infill location, affluent trade area, current rents being well below market, an off-market opportunity were all drivers which made this an appealing investment.
The largest tenant (3,732 square feet in the main building) is The Belmont, a neighborhood restaurant and bar. In addition to revitalizing the mixed-use property with The Belmont, Edgehill intends on including several other concepts to gentrify the property.
The Belmont is a partnership between Edgehill Investments, Tony Demarce and his wife Melanie, who have successfully opened and operated 13 similar restaurants. Icon Structures was the general contractor. It showcases approximately 100-seats with a 40-seat patio in the storied building on what was the first electrically illuminated residential street — whose historic 1925 arches greet drivers at Douglas and at Central.
More info on The Belmont: www.thebelmontks.com
The 1,473 square foot adjacent building inside Happiness Plaza is home to Frost, a dessert shop. Frost will contain a dessert counter that offers a selection of cakes by the slice, pies by the slice, cookies and bars. There will be an ice cream case which holds 10-12 rotating ice cream flavors. All the pastries will be made from scratch and the ice cream will be small batch made with love from quality ingredients. The dessert menu will be set up so guests can mix and match to make their own custom desserts.