Market Station apartments, formerly KC Southern Railyard

[chrizow]

yeah, i actually didn't mind the sound at all, nor did my friend.  it was mostly her exurban parents (shocker) that were bothered by it.  it was interesting/surprising though.  the trains are really close to the building.

[staubio]

Oh, that sound. Yeah, I know it well and it isn't going anywhere.

Come to think of it, I only really hear whistles when a train is starting up from a stop and occasionally trains seem to be "talking" on the bridges. Maybe that is why I notice whistles more.

[scooterj]

Dumb question -- did this place ever open for occupancy?  I never see any lights on in any of the windows and I never see anyone coming or going.

[geeman68]

Dumb question -- did this place ever open for occupancy?   I never see any lights on in any of the windows and I never see anyone coming or going.

Simple answer -- yes. 

[chrizow]

yeah, i know two people who live there.  last i heard it was only like 5-10% occupied though. 

[ignatius]

I heard 6% occupancy in January.  Would hope it would be quite a bit more by now.

[taxi]

it's not all finished. I believe they're doing it in phases.

[DaveKCMO]

i had some friends look at these over the weekend. they really liked them. one of them currently lives at 909 walnut, and he said prices were comparable. i thought they were the highest per square foot? maybe they've come down in response to the market?

[chrizow]

i had some friends look at these over the weekend. they really liked them. one of them currently lives at 909 walnut, and he said prices were comparable. i thought they were the highest per square foot? maybe they've come down in response to the market?

interesting.  my friend pays around $800 i believe, for a one-bedroom that is maybe 400 square feet.

[zonk]

Rents range between $1.25 and $1.45 per square foot, averaging $1.35.  I think they are giving several months free as a signing bonus.

[loftguy]

interesting.  my friend pays around $800 i believe, for a one-bedroom that is maybe 400 square feet.

The smallest apartment at Market Station is 575 sq. ft, which is the lowest rent avail....$800 (1.40sf).

They have been offering 2 mos. free as a winter special, but with better weather and Piper/Windows at nearly 100% occupancy, you can anticipate that this inducement will be drying up.

[LenexatoKCMO]

I thought 400 sounded awfully small - this isn't Tokyo. 

[chrizow]

I thought 400 sounded awfully small - this isn't Tokyo.   :lol:

haha.  ok 575.  they feel quite small, i will just say that. 

[ThaMexican]

Piper/Windows at nearly 100% occupancy

This is good news for the Crossroads.

[loftguy]

I thought 400 sounded awfully small - this isn't Tokyo.   :lol:

I was thinking about opening up some 200 sf "asian plan" lofts, with pullout drawer style beds.  Like the Seinfeld episode.

[GRID]

KCBJ says this place is doing very well.  They say they should be fully leased within a year and most of the open units are leased.

At rates of 800-1700 a month, that's pretty good for kc.

Also mentions that Piper and Windows are both nearly 100% occupied with rents up to $2200.  Those are nice nice rental rates downtown is pulling in.

[ignatius]

^Good to hear.  Cold Storage is also a large project that is apparently fully leased.  Wonder if that will encourage more leased new construction downtown, if even from the Market Station developers after this project completes.  Are those rates high enough to build a new leased hi-rise?

[ComandanteCero]

Hi-rise would be doubtful, but apartment complex-Market Station-style stuff, i don't see why not.  The issue would be finding the amount of land needed for that kind of project.  There aren't very many large empty plots like that remaining.

Of course, I wonder why we can't develop more 4-plex and 6-plex style buildings, instead of relying on these large projects.  The River Market would be especially well suited for a lot of smaller dense projects spread throughout the area.  Anyone know the economic barriers behind that? 

[FangKC]

The issue would be finding the amount of land needed for that kind of project.  There aren't very many large empty plots like that remaining.

There's a fairly large plot of land along Missouri Avenue/5th Street at Central west and north of the newer part of the Conover Lofts.

There is also that plot of land west of the HOK building where they are demolishing that large warehouse building.

Also there are large parking lots on three corners of Fifth and Main.

Another lot at the SE corner of Grand and E. 5th Street.

Another lot west of the Republic Paper Lofts at 2nd and Delaware.

Another parking lot on E. 4th between Oak and Locust, and another one on Locust between E. 4th and 5th streets.

There's also a large lot that has been cleared recently for that failed bank project bordered by Missouri, Independence, Grand, and Oak.

On the Columbus Park side, there are whole blocks that are designated for redevelopment north of 5th Street between Cherry and Troost, as well as the Berkley Riverfront Park parcels north of the railroad tracts.

[LenexatoKCMO]

East fringe of the xroads, there are huge swaths were you could build low rise apartments similar to market station - target to the college grad crowd.  Seems like a no-brainer to me.