Airport Project

Our first development was the purchase and refurbishment of this 65,000 sq ft building in the Airport Industrial Park. This 500' long building was originally built for trailer manufacturing and later was used by a metal scrapping and auto salvage business. We spent about 1 month to remove over 1,200 yards of trash and 72,000lbs of metal from the property. We then updated the lighting, heat, replaced overhead doors, and installed a solar panel system on the roof.

Before:




After:

Faubion Project

The second project we took on wasn't as drastic as the Airport Project. We acquired an 18,000 sq ft steel building in our local industrial park that was originally built as a Coca-Cola distribution facility. The ironic thing is that our family originally built this building around 1985. We were able to purchase the building, update the lighting and heat systems and clean up the lot drainage. We now have two tenant partners in the building. One business started as two people, and within 8 months, they have expanded to 10.

Main Street Project

This opportunity came about a bit differently. We had a business that we knew needed a nice retail/commercial space. It's not our ordinary project. But, if the numbers pan out, let's try. This century-old storefront had been empty for almost 5 years. We acquired the property and immediately started work to update the space for a local business that helps other startups by offering retail showcase space in the store and space for local artists to teach classes.

Before



After

Project Catalyst

(Updated Feb. '22)

Project Catalyst was the name given to a pet project that has developed since we took possession of our 65,000 sq ft industrial building. During our refurbishment of this building, we received a number of leads from businesses that were looking for buildings of this size. After reaching out to the local Chamber of Commerce, it was evident that we were lacking in available inventory to capture these business leads. Using our experience in steel building construction and the lessons we've learned in development, we continue to work with our economic development partners to identify needs and features needed for a competitive spec building development.

Based on the leads we receive, and the lack of available building inventory, we have a very strong business case to utilize a spec building to attract new economic growth. This singular project stands on its own merit, but it also offers the added benefit to create a snowball effect of spec building development in our Kansas Enterprise Industrial Park. The pandemic has changed business needs for more warehousing, logistics, and renewed interest in localization (rather than globalization) of manufacturing. Hutchinson is in a strong position to capture that business.

Unlike other areas of the country, or even our state, Hutchinson has proven to be a value for new construction projects. RS Means data in 2019, and the most recent RS Means data in 2022, reflect that Hutchinson has the lowest average commercial construction costs of the cities studied in Kansas. It’s also lower than any studied city in Missouri, Nebraska, or Colorado. In addition to the lower-than-average construction costs, our development business, Selwyn Investments has the unique resources, and plans, to construct a value-dense building that can be used for a broad range of business needs and at costs lower than most. The current design comes in at $62 per sq ft, complete. By comparison, this is much lower than the national average of $113.40 per sq ft and even lower than the 25th percentile at $71.10 per sq ft.

Over the last 3 years we have worked closely with the Chamber of Commerce and other community partners to discuss the qualifying factors that were brought up during past site visits from potential business leads. We used this feedback to design a new spec building that checks off as many boxes as we can to achieve a facility that can be used for food-grade businesses, heavy manufacturing, climate-controlled needs, warehousing, and many others. Not only is the up front design a strong fit for our community at nearly 60,000 sq ft and 30 feet tall, but there is flexibility designed into the facility to aid in adding more doors, docks and expanding the building up to 200,000 sq ft.

Target Outcomes

• Attract out-of-state business
• Create additional jobs in Central Kansas
• Create job opportunities that raise the average wages in Central Kansas
• Capture the indirect benefits of industrial growth to expand retail and other commercial opportunities
• Design as much value into the pilot spec building and utilize the equity to fund future spec buildings in Hutchinson

Target Beneficiaries

Central Kansas has a trend of many job positions that offer lower than average wage options. This affects all living in the area. Either directly, or indirectly. By attracting businesses from a national pool and landing those opportunities in our vicinity, it creates economic opportunities that are judged on a national level, rather than wages/jobs compared to other businesses in the same lower-than-average pool.

By capturing and developing businesses that operate locally, but have customers on a national, or international, scale, we are able to funnel more dollars into our local, regional, and state economy. A spec building program lends itself to capture these businesses.

At this point, plans have been developed to perform a preliminary design review with the city and move the project forward with finalized plans and physical construction. If you're interested in a possible investment partnership on this project, please reach out.