KC Condo Tracker

Has Condomania Cooled in Kansas City?

August 24th, 2008 6:23 PM by AJ Gentry

Only 31 condos sold during the May, June and July from downtown KC to the Plaza out of 227 (priced from 100K to one million in 5 zip codes).  Ten of those sales were downtown and 21 were on the Plaza.

Piper Lofts is rumored to have pulled the plug. Liberty Lofts is in limbo. The Reserve has around 27% reservations thus far and the Vista around 18% occupancy. East Village, the proposed mixed use project across from the Metropolitan and Manhattan, is off to a bumpy start -- losing the 800 housing unit piece just last week.

What does this mean to Kansas City? What does it mean to KC's Power & Light District as it seeks retailers despite hundreds of major retailers closing down stores nationwide? And what does it mean to condo buyers who face losing down payment assistance programs altogether beginning Oct. 1?

It means the downtown residential and retail piece will take longer than expected and condo buyers need to work with a buyer's rep who knows what's up and who can guide them to sound and financeable projects such as Atriums of Soho West, Coffee Lofts (one of the few buildings that are FHA approved), 700 @ Broadway, Western Auto, Battery Lofts and dozens of other projects that are fully sold or nearly sold (not beneath the risk threshold traditional banks may pull financing commitments on in the 11th hour).

Posted in:General
Posted by AJ Gentry on August 24th, 2008 6:23 PM



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