Kansas City Downtown Residential Development Update.

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Presentation transcript:

Kansas City Downtown Residential Development Update

Downtown Population Growth : 13, : 19, : 40,000?

Completed Projects Walnut Tower Apartments 179 units 2006 Wyandotte35 units 1006 Grand134 units Courthouse Lofts176 units Market Station322 units Carriage Lofts23 units Liberty Lofts44 units Others102 units TOTAL: 1,015 Units 3

Projects Under Construction Founders at Union Hill181 units Gillham Row Phase II22 units Lucas Place130 units River Market West137 units Beacon Hill/UMKC Housing245 units TOTAL: 715 Units 4

Pipeline – New Construction 5 One Light (Cordish)311 units Columbus Park16 units 2 nd & Delaware225 units TOTAL: 552 Units

Pipeline Conversion Projects 6 Argyle Building: 126 unitsBemis Bag Building: 100 units Commerce Tower: 265 unitsCorrigan Building: 82 units Folgers Buildings: 176 unitsMark Twain Tower: 155 units Midland Building: 68 unitsPabst Building: 62 units Pershing Building: 55 unitsPickwick Hotel: 261 units Power & Light Building: 200 unitsWeld Wheel Building: 200 units West Side Housing Organization: 98 unitsTOTAL: 1,848 Units

Projects Map 7

Cordish Tower/ One Power & Light 8

Midland 9

Argyle Building 10

Pickwick Hotel 11

Corrigan Building 12

Power & Light Building 13

Market Station A Glimpse of Downtown’s Future? 14

Berkley Riverfront Park 15

Berkley Riverfront Park 16

Multi-Family Construction 17 Annual Average New Units: 539

New Construction vs Occupancy 18 Annual Average: 2,902

Inventory Growth 19

Average Rent: Class A 20

Rent and Occupancy: Class A 21

Downtown Concessions 22

Echo Boom People in the age group years account for the following percentages of the total population: –U.S. 13.4% –Metro KC 14.0% –Downtown KC 24.8% 23

Questions? 24