All these new condos...isn't anybody developing affordable apartments?

[tsheller]

I keep seeing buildings turned into luxury condos! I work in the Crossroads and live near the art institute and everybuilding seems to be going condo. What about people who can only afford to rent but don't want to live in rat holes? I fear anyday that my landlord will jump on this bandwagon and I will be homeless.

Where will people like me go?

[Beermo]

I keep seeing buildings turned into luxury condos! I work in the Crossroads and live near the art institute and everybuilding seems to be going condo. What about people who can only afford to rent but don't want to live in rat holes? I fear anyday that my landlord will jump on this bandwagon and I will be homeless.

Where will people like me go?

you will probably be heading to northeast.

i've been posting this same ? here on this board. i guess it all boils down to supply and demand.

[LenexatoKCMO]

Where will people like me go?

The Plaza?  Midtown?

There is a much bigger margin on building a high end condo building than there is on affordable apartments - so as long as the demand is there for the high end condos they will continue to dominate the market. 

[dangerboy]

There are some options.  Maybe not enough, but some.

The Met condos start at $80,000, which cheaper than any new townhouse or single family home anywhere in the city.  The Cold Storage lofts is a huge rental project with income restrictions.  Many of the other rental lofts and places like Quality Hill have some units reserved for affordable housing.

[DaveKCMO]

midtown. midtown. midtown.

although there was an article in the business journal recently that rents are on the rise in the metro and across the country. and yes, it does seem that everything in RCP is turning condo. right now, it just takes a keen eye to spot the bargains, but i know first hand they can be found.

i continue to recommend quality hill towers. it ain't glamourous, but the location is perfect and their management is very attentive (unlike the rest of quality hill rentals).

[Rusty]

midtown. midtown. midtown.

although there was an article in the business journal recently that rents are on the rise in the metro and across the country. and yes, it does seem that everything in RCP is turning condo. right now, it just takes a keen eye to spot the bargains, but i know first hand they can be found.

i continue to recommend quality hill towers. it ain't glamourous, but the location is perfect and their management is very attentive (unlike the rest of quality hill rentals).

I agree, Quality Hill Towers is great.  I just moved out of a 10th floor one bedroom that I paid $525/month for.  Their entire staff does a great job.

If you don't mind carpeted floors and an ugly building, it's a great place to live.

[KCMax]

Why rent? You're throwing your money away. Plunk down some cash and make an investment. Its easier than ever to get fiannced. It will be well worth it.

[dangerboy]

Midtown is a great place to buy.  The rush downtown has softened demand in Midtown a little bit,  so there are good deals both to rent or buy. 

[voltopt]

armour boulevard and broadway/main street - it will be awhile before this entire area goes "condo" - there are still many apartments and rental houses throughout

[910penn]

river market seems to be good about income based housing, the place I am moving to next month is on 450/mnth for a studio

[Tunnel]

Why rent? You're throwing your money away. Plunk down some cash and make an investment. Its easier than ever to get financed. It will be well worth it.

The hot real estate market we experienced has everyone in the country thinking that getting a mortgage and buying some property = an investment.

It's both an asset -and- a liability.  That's "why rent?"  Or, at least, why it's better for some people to rent.

[warwickland]

i live by the art institute as well (that is midtown by the way, although ive heard it called the 'north plaza' area as well which makes no sense) and have excellent management and ownership, and pay only $370 a month....but i think i just got lucky.

i'm in my twenties and still want to experience living in different places in here or in other cities, so buying is not reasonable right now. i do get the 'why rent, buy' lecture a lot, and the downsides outweigh the benefits right now, especially since i might be splitting an already cheap ass rent.

[DaveKCMO]

i'm in my twenties and still want to experience living in different places in here or in other cities, so buying is not reasonable right now. i do get the 'why rent, buy' lecture a lot, and the downsides outweigh the benefits right now, especially since i might be splitting an already cheap ass rent.

agreed. i waited until i was 30 to buy, and i'm certainly glad i lived in brookside and roeland park before deciding to move downtown.

[moderne]

Not all condos are owner occupied.  Many have been purchased by investors as rental property.  In the Manhattan there are entire floors bought by investors.  Its like they own a small apartment complex all on one floor.

[kcmetro]

What's the best place to look for rentable (lofts,condos, apts) in the downtown area? I'm looking for something in the River Market, DT, or Xroads area. A one bedroom for under 6 or 700 per month would be nice. I was just wondering about what media outlets I should check for listings. Thanks.

[KCTigerFan]

Won't the new East Village development downtown have a fair number of affordable units? 

[Gretz]

Quality Hill, though mostly full right now I believe, has income controlled properties for those making less than $28,750ish at around 450 a month for a one bedroom.  Spacious two bedrooms such as my own go for 800 or so without restrictions.  There are many other buildings around that are independent of the Quality Hill developement's 466 units that are similarly cheap including three buildings at least on 11th and 12th.  At least some of the new apartments in the professional building are income controlled and walking around I see other buildings in east downtown that I think are apartment, not condo.  If you have a little more to spend there is 909 Walnut.  Also some of the garment district buildings rent I believe.  There are some cheap studios and one bedrooms I looked at in north rivermarket too before deciding to move with a roomate.  There's quite a bit more stuff than meets the eye out there, you just have to know where to look.  The best place I found for searching was in the Star's apartment section (kansascity.com).  As mentioned the Armour buildings are ultra cheap and some have remodelled recently including two I looked at at Armour and Broadway.  I found several options just by walking around and asking in buildings that looked promising or had banners.  The star is the best place to start though I would say; have a look. 

[KCLofts]

What's the best place to look for rentable (lofts,condos, apts) in the downtown area? I'm looking for something in the River Market, DT, or Xroads area. A one bedroom for under 6 or 700 per month would be nice. I was just wondering about what media outlets I should check for listings. Thanks.

You could start with www.kc-lofts.com

[skim82]

Luxury Condos are def. on the rise in the RCP corridor.

I will be paying $172,000 for a loft @ firstandmain that is only 733 sq. feet.. it will also include a private terrarce that will be just under 100 sq.ft.  Total square footage is in the 820 range, but I still think it will be a solid investment (TIF project, not tax abated) with all the amenities like a private resident park, riverfront property, putting green, etc.

Prices are going up DT, but i still think that the prices are a bargain for DT real estate in a top 30 US market. 

[KCPowercat]

there are a ton of afforable rentals.....check out the library district and professional building lofts...in addition to what has already been mentioned.