December 3rd, 2007 11:59 AM by AJ Gentry
As a real estate investor, I feel compelled to mention that there are five condominums with nice units for sale within sneezing distance of the Power & Light District (Campbell lofts, 21 Ten, 1819 Lofts, WallStreet Towers, and Argyle Lofts).
Because it will be at least 18 months before there is Power & Light condos for sale, my recommendation is to at least consider snatching up the drastically reduced inventory so close to the Power & Light District that you could open your window and hear the music while cashing in on big returns in five years.
Though no P&L pricing is available yet, I suspect pricing will start above the $200K mark, which automatically thins out many investors and loft buyers.
The P&L district is a mere 3 blocks by 3 blocks (Wyandotte to Grand and 12th to 15th) for a whopping 9 total blocks -- not a very big slice of the KC condo pie. The majority of the nine blocks is retail and entertainment -- what the developer, the Cordish Company, is known for.
Here's another kicker or ah ha moment: There is only 1200 condos slated for the P&L district but 10,000 slated to surround the district. Those numbers should put supply and demand numbers into perspective for interested Kansas Citians or out of town investors.
Now, knowing the north and south boundaries of the Power & Light District are 12th to 15th Street, check out the address of condos with available inventory (several under the $200,000 threshold).
Campbell Lofts - 1535 Walnut (can you get any closer)
21 Ten - 21 W. 10th (resales available for $170K and $175K)
1819 Lofts -- 18th & Baltimore
Wallstreet Towers -- 1101 Walnut (again can you get any closer)
Argyle Lofts -- 306 E. 12th (these units are rentals only)
As soon as I hear of a sales center opening in the P&L District, I'll post a all points bulletin blog. Until then, don't miss out on condo opportunities you can have for a song because they're not in the coveted district.