KCRag Forum

CoStar 2nd Quarter Apartment Absorption Rankings.



Now office/jobs stats

KC in top 25 for hot housing market according to Realtor.com. KC and Columbus only two Midwest metros in top 25.
https://www.marketwatch.com/story/this- ... latestnews

KC metro ranked in top 25 for multi unit delivery over a year Q3-Q3 (4700 units) and about 17th for Q3 2020 itself (1500 units). Absorption is healthy too.

https://www.cbre.us/research-and-report ... es-Q3-2020

KC ranked top 20 for commercial/multifamily construction starts as well first half of 2020. Second half report should come out this month or so.
https://proddrupalcontent.construction. ... s-0720.jpg

Not surprising as construction jobs also show significantly up, around 7% lately, where most of US is down even some hot markets.
https://www.bls.gov/eag/eag.mo_kansascity_msa.htm

Here is a fairly worthless clickbait ranking of the best places to live in 2021 where KC came in number 8.

https://www.google.com/amp/s/www.bankra ... ve/us/amp/

Odd they factor by city and not metro...

CBRE compiled a Development Opportunity Index and KC doesn't stand out compared to coasts/south but in top 3 for Midwest...
https://mapping.cbre.com/maps/USDevelop ... rtunities/

KC still in top 20 for construction starts for 2020 full year, 2nd in Midwest. Is actually up 20% for 2020 where US avg is down 20%. KC has been fairly consistent in top 20 last 5+ years.

https://rebusinessonline.com/u-s-commer ... odge-data/

^ and this doesn't really reflect cost of construction. Building in an expensive coastal city has to cost significantly more per unit than here.

SF Bay Area plummeting below KC is a surprise, Minneapolis too.

earthling wrote: ↑Tue Jan 26, 2021 2:13 pm KC still in top 20 for construction starts for 2020 full year, 2nd in Midwest. Is actually up 20% for 2020 where US avg is down 20%. KC has been fairly consistent in top 20 last 5+ years.

https://rebusinessonline.com/u-s-commer ... odge-data/

Is this total number of projects? I would be interested to see change in sqft under construction or total cost under construction.

As title says, it's 'starts" for commercial and multi-family buildings in millions of dollars, doesn't include single family home construction. And apparently not civil/fed infrastructure projects.

I think that 'starts' means broke ground within the year, not permits pulled.

Missouri made the top 10 (7th place) on Uhaul's 2020 migration list. Ohio was the only higher Midwestern state (if you consider it to be one).

https://www.uhaul.com/Articles/About/22 ... on-Growth/

Ten of the Hottest Neighborhoods in Kansas City

https://www.inkansascity.com/home-desig ... nsas-city/

Gardner
Manheim Park
Northgate Village (NKC)
Pendelton Heights
Roeland Park
Strawberry Hill
McCoy (Independence near their downtown)
Old Briarcliff
Old Leawood
Blue Hills

Interesting that old suburbs and adjacent communities from the original ~1900 streetcar era are most of the list.

I would have guessed West Plaza would have ranked and at least some part of Downtown.

River Market is not only the hottest in KC IMO it's a great neighborhood by any urban living standard, with a free horizontal elevator to rest of downtown. But this list was likely created by car dependency minded people.

earthling wrote: ↑Thu Feb 25, 2021 11:06 am River Market is not only the hottest in KC IMO it's a great neighborhood by any urban living standard, with a free horizontal elevator to rest of downtown. But this list was likely created by car dependency minded people.

It's not even close to the same standard as NKC is seeing.

48 under construction in City View
294 23rd and Swift
191 18th and Swift
49 on Armour
Northgate Village is slowly working on it's remaining 32 row homes

That's 614 units for the elementary school

The city has a population around 4475

At 2.5 average per unit the NKC population could grow by 33%

For downtown to reach this level would mean adding 3000 more units

Was not at all talking about growth, but a desirable walkable neighborhood to live in. It's subjective of course but RM has a great urban neighborhood balance and has a free horizontal elevator to access some things it doesn't have, with that access expanding soon. Xroads has even more opportunity but RM is currently further along.

flyingember wrote: ↑Thu Feb 25, 2021 11:35 am

earthling wrote: ↑Thu Feb 25, 2021 11:06 am River Market is not only the hottest in KC IMO it's a great neighborhood by any urban living standard, with a free horizontal elevator to rest of downtown. But this list was likely created by car dependency minded people.

It's not even close to the same standard as NKC is seeing.

48 under construction in City View
294 23rd and Swift
191 18th and Swift
49 on Armour
Northgate Village is slowly working on it's remaining 32 row homes

That's 614 units for the elementary school

The city has a population around 4475

At 2.5 average per unit the NKC population could grow by 33%

For downtown to reach this level would mean adding 3000 more units

Wikipedia says the River Market's population was 3,218 in 2018. I can count about 800 announced apartments there. That is a 62% population growth at your density. I think 1.5 per unit is more realistic and it still nets you 38% growth in the RM and 20% for NKC.

normalthings wrote: ↑Thu Feb 25, 2021 11:49 am

flyingember wrote: ↑Thu Feb 25, 2021 11:35 am

earthling wrote: ↑Thu Feb 25, 2021 11:06 am River Market is not only the hottest in KC IMO it's a great neighborhood by any urban living standard, with a free horizontal elevator to rest of downtown. But this list was likely created by car dependency minded people.

It's not even close to the same standard as NKC is seeing.

48 under construction in City View
294 23rd and Swift
191 18th and Swift
49 on Armour
Northgate Village is slowly working on it's remaining 32 row homes

That's 614 units for the elementary school

The city has a population around 4475

At 2.5 average per unit the NKC population could grow by 33%

For downtown to reach this level would mean adding 3000 more units

Wikipedia says the River Market's population was 3,218 in 2018. I can count about 800 announced apartments there. That is a 62% population growth at your density. I think 1.5 per unit is more realistic and it still nets you 38% growth in the RM and 20% for NKC.

How many were announced or under construction in only 2020? I didn't look backwards past the prior year for NKC.

I could have included the senior apartment expansion and the earlier Northgate Village growth too.