kansas city downtown residential development update

Kansas City

Downtown ResidentialDevelopment Update

Downtown Population Growth

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• 2000: 13,600

• 2013: 19,100

• 2030: 40,000?

2010-2012 Completed Projects

Walnut Tower Apartments179 units

2006 Wyandotte 35 units

1006 Grand 134 units

Courthouse Lofts 176 units

Market Station 322 units

Carriage Lofts 23 units

Liberty Lofts 44 units

Others 102 units

TOTAL: 1,015 Units

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Projects Under Construction

Founders at Union Hill 181 units

Gillham Row Phase II 22 units

Lucas Place 130 units

River Market West 137 units

Beacon Hill/UMKC Housing 245 units

TOTAL: 715 Units

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Pipeline – New Construction

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One Light (Cordish) 311 units

Columbus Park 16 units

2nd & Delaware 225 units

TOTAL: 552 Units

Pipeline Conversion Projects

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Argyle Building: 126 units Bemis Bag Building: 100 units

Commerce Tower: 265 units Corrigan Building: 82 units

Folgers Buildings: 176 units Mark Twain Tower: 155 units

Midland Building: 68 units Pabst Building: 62 units

Pershing Building: 55 units Pickwick Hotel: 261 units

Power & Light Building: 200 units Weld Wheel Building: 200 units

West Side Housing Organization: 98 units TOTAL: 1,848 Units

Projects Map

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Cordish Tower/ One Power & Light

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Midland

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Argyle Building

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Pickwick Hotel

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Corrigan Building

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Power & Light Building

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Market Station

A Glimpse of Downtown’s Future?

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Berkley Riverfront Park

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Berkley Riverfront Park

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Multi-Family Construction

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Annual Average New Units: 539

New Construction vs Occupancy

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Annual Average: 2,902

Inventory Growth

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Average Rent: Class A

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Rent and Occupancy: Class A

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Downtown Concessions

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Echo Boom

• People in the age group 25-34 years account for the following percentages of the total population:

– U.S.      13.4%– Metro KC          14.0%– Downtown KC   24.8%

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Questions?

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