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Re: Metro Multi-Family Construction
Posted: Tue Aug 23, 2022 5:59 pm
by earthling
KC metro had about 3500 MF permits in all of 2021 so over 3300 by this July is way ahead of last July and 2019. The highest was in 2016 with 4440 MF permit (full year) so essentially on path for a peak year of MF permits.
Click on 5+ units tab...
https://www.recenter.tamu.edu/data/buil ... y%2C_MO-KS
Re: Metro Multi-Family Construction
Posted: Thu Sep 01, 2022 3:37 pm
by earthling
➤ Kansas City had 7,269 units under construction as of June, with the bulk of new development aimed at high-income renters. Most new rental apartments are slated for completion in suburban areas that are adjacent to the downtown area and more affordable.
➤ In the first half of 2022, only 996 units came online. That accounted for 0.6% of total stock, 30 basis points below the national rate. Compared to previous years, inventory expansion softened due to rising construction costs and inflation, labor shortages and an overall greater economic volatility. This year, a total of only 3,167 units are expected to be delivered, which is a far cry from the 5,378 units completed in 2021, and well below the 4,057-unit average of the previous 5 years.
➤ The slowing construction activity is also visible in the number of projects that developers broke ground on. A 184-unit development in Lee’s
Summit is the only project that developers started work on during the first half of the year. Over the same interval in 2021, starts equaled
3,142 units across 13 projects.
➤ Downtown Kansas City was the only submarket where development crossed the 1,000-unit threshold — 1,190 units underway as of June.
Source: Yardi Matrix
https://www.yardimatrix.com/Publication ... August2022
Re: Metro Multi-Family Construction
Posted: Tue Sep 06, 2022 9:52 am
by earthling
KCMO updated the permits page for first half of 2022 (city of KCMO proper only). Is not clear what the units on right are as it doesn't total up with the per month on left.
Here is by permit $ investment per area...
Click on Residential tab and then New Construction tab...
https://www.kcmo.gov/city-hall/departme ... -dashboard
Re: Metro Multi-Family Construction
Posted: Tue Sep 06, 2022 2:47 pm
by earthling
As projected metro demand continues to decline and is the case for most markets, including most hot markets. According to...
https://www.yardimatrix.com/Publication ... KansasCity
Re: Metro Multi-Family Construction
Posted: Tue Sep 27, 2022 10:26 am
by earthling
August MF metro permits. Over 500 again for KC. STL picking up steam.
.................................................................................August......................................................................YTD...........................
https://www.census.gov/construction/bps ... 202208.xls
Re: Metro Multi-Family Construction
Posted: Tue Sep 27, 2022 11:17 am
by Sani
I have a feeling permits for all the metros in Central and West/Southwest Florida are going to skyrocket in the coming months.
Re: Metro Multi-Family Construction
Posted: Fri Sep 30, 2022 8:04 am
by earthling
Metro demand still on the lower side. Not bad but could reduce developer interest. KC's employment growth stagnant lately, which could also slow development down.
https://www.yardimatrix.com/Publication ... 96A8FD9BC8
Re: Metro Multi-Family Construction
Posted: Mon Oct 17, 2022 3:45 pm
by earthling
Cushman Q3 KC multifamily report. Cushman data should be taken with grain of salt as they've made significant revisions in past. They claim that RCP corridor leads metro in YTD absorption. Several burbs lead in delivered units. S and W JoCo lead in units under construction.
https://cw-gbl-gws-prod.azureedge.net/- ... f9e8f67c5a
Here is Q2 for comparison. So over 700 units absorbed in RCP corridor in Q3. Pretty good demand.
Re: Metro Multi-Family Construction
Posted: Thu Oct 27, 2022 1:43 pm
by earthling
Sept permits.
- KC metro had a decent month over 600 multfi family permits.
- Still in top 25 for YTD.
Note that KC MF permits higher than single family, suggesting KC doing more infill than sprawl. Note that Nashville and Vegas far more single family than MF. Keep in mind that permits don't always turn into construction starts.
https://www.census.gov/construction/bps ... 202209.xls
Re: Metro Multi-Family Construction
Posted: Thu Nov 03, 2022 5:54 pm
by earthling
Berkadia's latest KC MF construction pipeline report, some of the project phases seem to be off...
https://base.berkadia.com/research-and- ... leadership
Over 48K units total in pipeline, though as with any market many may not ever happen. STL has about 21K units in pipeline.
Re: Metro Multi-Family Construction
Posted: Thu Dec 01, 2022 4:48 pm
by TheUrbanRoo
Early December is a big month for projects & approvals:
South Loop cap mega-grant approval
River Market FAA approval (that will impact so many projects)
Mac project seeking some approval
Big next couple weeks that'll impact all of next year
Re: Metro Multi-Family Construction
Posted: Tue Jan 17, 2023 9:18 am
by earthling
Berkadia Q4 pipeline report for KC metro. Some projects are more progressed than shown, IE Katz still shows as Planned even though Under Construction. Report claims nearly 53K units recently completed to prospective, which is the highest it's been in a while. Many prospective units for downtown.
https://base.berkadia.com/wp-content/up ... Report.pdf
Here's STL, near 22K units total...
https://base.berkadia.com/wp-content/up ... Report.pdf
Re: Metro Multi-Family Construction
Posted: Sat Mar 04, 2023 11:39 am
by earthling
Cushman's Q4 report. Take with grain of salt as they've had some odd changes in past from quarter to quarter. If correct, it shows that RCP corridor had 40% of metro absorption/demand. East KC/Independence had second highest demand in metro with Northland third. RCP and Northland had highest deliveries in metro.
https://cw-gbl-gws-prod.azureedge.net/- ... 3e901d6d0a
Re: Metro Multi-Family Construction
Posted: Tue Mar 19, 2024 2:10 pm
by Cratedigger
Multifamily construction starts forecasted to rise in 2024 but that drop from 2021 to 2023 is tough