KCRag Forum

I thought I remembered the price point being pretty low, anyone know the rates?

The website lists $780 for a 368 square foot closet. http://www.east9kcfloorplans.com/Floor- ... x?tab=true

That has got to be the highest priced in town.

I stand corrected. That link shows even pricier units, like Studio S – 353 sf for $900. Anyone know how leasing is going there?

taxi wrote:I stand corrected. That link shows even pricier units, like Studio S – 353 sf for $900. Anyone know how leasing is going there?

That is over 2.50 a sq ft. Surely there is a catch?!

I would assume that if these rates hold we will see an uptick in new appartment construction.

Yeah that is quite high for KC, even for Denver. If they can pull that off hopefully it attracts hirise developers from across the US.

If they are successful it might reflect that people are more interested in getting a place downtown for under $1000/mo than how many sf they're getting. I'd be surprised if that sf price would hold up on larger units.

UPS store coming. http://www.kansascity.com/news/business ... 48754.html

That's my best mgsports impression.

and so on.

grovester wrote:If they are successful it might reflect that people are more interested in getting a place downtown for under $1000/mo than how many sf they're getting. I'd be surprised if that sf price would hold up on larger units.

This is the key factor that they appear to be exploiting. There are a lot of folks looking for something to rent under $1,000 in the downtown market and almost nothing to be found.

It will be interesting to see how the buying public reacts. Some folks are spartan and eschew possessions and can live small. Others are looking for a simple place to land in the city. There are also those law firms, etc... who are looking for the alternative to hotels for guests, but not a penthouse at a Light Tower.

downtown is nowhere near having units as small as Ikea has mockups for. Based on that we know bank lenders have parking requirements still, this is likely holding the micro unit market back. There's certainly developers that would fit 20% more units in and charge 10% less if they could.

They better have one hell of a marketing team! I'm excited about the development, but it's not the ideal downtown location, isn't close to many amenities and a good walk from the streetcar. P&L building, 10 Main or Commerce Tower would be more desirable at the same cost.

isn't close to many amenities and a good walk from the streetcar

it's three blocks away. that's basically less distance than the far side of a walmart parking lot to the back corner of the store

I have no sympathy for someone complaining they're three blocks away from something

^Yes, but the other three have stops right outside the front door. Can't deny that it makes a difference, especially in weather.

sure, but streetcar access isn't the most salient consideration for everyone looking to move downtown. i think that's especially true now, before any expansion of the streetcar south of union station occurs. if you aren't willing or able to go completely car-less, the current iteration of the streetcar frankly doesn't move the needle much at all as a day-to-day or week-to-week consideration:

• cosentinos has free parking at all times, so any premeditated trip there is usually easier to do via regular car than streetcar.
• the streetcar makes jaunts to the crossroads or the river market a bit easier from the CBD, but as of now both those districts have a glut of easily usable and mostly free parking at pretty much any time of the week. if you don't want to drive, you can weigh the convenience of a $5 uber against the frugality of a downhill walk down 9th or 10th to catch the streetcar.
• the walk from johnnys tavern to the p&L tower is 6 minutes; the walk from there to pickwick is 8 minutes. the difference isn't that significant.
• the retail/restaurant developments in pickwick itself should help make up for what is currently a relative lack of density east of grand. i know i'll probably get dragged to the cellar rat wine bar thing more than i find myself at john's big deck.

people who aren't bringing cars along or want to be right on top of the streetcar for any other reason will pay to do so, sure. but for people who want to live downtown and commute anywhere outside of it, or for anyone who otherwise wouldn't use the streetcar daily, pickwick hits a pretty good spot on the location curve. it beats the hell out of the location of those condo towers up on admiral, for example.

wahoowa wrote:sure, but streetcar access isn't the most salient consideration for everyone looking to move downtown. i think that's especially true now, before any expansion of the streetcar south of union station occurs. if you aren't willing or able to go completely car-less, the current iteration of the streetcar frankly doesn't move the needle much at all as a day-to-day or week-to-week consideration:

• cosentinos has free parking at all times, so any premeditated trip there is usually easier to do via regular car than streetcar.
• the streetcar makes jaunts to the crossroads or the river market a bit easier from the CBD, but as of now both those districts have a glut of easily usable and mostly free parking at pretty much any time of the week. if you don't want to drive, you can weigh the convenience of a $5 uber against the frugality of a downhill walk down 9th or 10th to catch the streetcar.
• the walk from johnnys tavern to the p&L tower is 6 minutes; the walk from there to pickwick is 8 minutes. the difference isn't that significant.
• the retail/restaurant developments in pickwick itself should help make up for what is currently a relative lack of density east of grand. i know i'll probably get dragged to the cellar rat wine bar thing more than i find myself at john's big deck.

people who aren't bringing cars along or want to be right on top of the streetcar for any other reason will pay to do so, sure. but for people who want to live downtown and commute anywhere outside of it, or for anyone who otherwise wouldn't use the streetcar daily, pickwick hits a pretty good spot on the location curve. it beats the hell out of the location of those condo towers up on admiral, for example.

Don't forget the Embassy Suites coming to the Fed building should liven the area up too.

I'm not against the Pickwick at all. I'm just saying for similar comparable pricing, the others are much closer to amenities and the areas are much more active. Sure, you can do all the same things as the others mentioned, but it would take a car or a walk. Right now, there really isn't much right outside your door at the Pickwick unless you work at the Fed building. Personally, I don't think they're going to be able to charge the same price/square foot as the others.

I don't think you're mistaken in the short run. I just think the area is going to activate pretty quickly. I also recall a wise man telling me once that no one renting cares about price per square foot. They care whether or not they like the place and can afford the rent. That seems to be the deal here. The rents are a bit lower, so is the square footage, but the finishes and layouts are nice.

The internet is full of people looking for a place downtown for under a grand.