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A $3 million apartment building at 37^th Street and Gillham Road in Kansas City is planned for the near future in Old Hyde Park, according to reports. The nearby Armour Boulevard has residential offerings that are mostly historic remodels, and this new project will serve to provide a contemporary alternative to those older residential buildings. The 23-unit project will mark the first new development in Old Hyde Park in 30 years, and it will provide a loft-like space for people seeking a Kansas City residential space that has modern and minimal design.

In keeping with the historic look of the neighborhood, and the developers have coordinated with the local Historic Kansas City Foundation to ensure that they are preserving the local history, though the property will have to undergo modernizations as it has been deemed blighted and has not been maintained. The 23 two-bedroom apartments would average 900 square feet and monthly rents around $1,050. The development would include 36 spaces of secured parking. If the developers receive the necessary city approvals, construction would start in April with completion in early 2015.

Residential real estate had a good run in 2013 here in Kansas City, according to recent reports by industry insiders. Permits for single-family home construction broke the 4,000 mark in December for the first time since 2007, ending the year at 4,087 permits, up 24 percent from 2012, according to the Home Builders Association of Greater Kansas City. On the multifamily front, permits for 2,879 apartments and condos were issued in 2013, up 62.2 percent from the previous year.

The average sales price of an existing home rose to $172,976 in December, up 9 percent from 2012, and the price for a new home rose 3 percent to $357,330. The Kansas City Regional Association of Realtors also said 1,858 existing homes were sold in December, up 2 percent from 2012, and 206 new homes were sold, down 6 percent from December 2012.

The new-home inventory was 21 percent higher than a year ago with 1,301 on the market. The supply of existing homes on the market dropped 6 percent to 9,106. The Realtors reported there was a 4.1-month supply of existing homes in December, making it a seller’s market. There was a 6.1-month supply of new homes in Kansas City, making it a balanced market favoring neither buyers nor sellers.

The local news has reported that 2013 was a very strong and beneficial year for the retail real estate industry here in Kansas City. Following that high run, new projects and new store openings are continuing throughout the area, carrying that new momentum into 2014. Developers have answered residential requests for more dining options and shopping venues, and from Northwest Kansas City to the South Trade area, there is a continual growth happening as new stores and locations are opening their doors to the Kansas City consumers.

Retail real estate in Kansas City isn’t all good news though—there was also a fair share of closings in 2013, from long standing restaurants like Kabuki Japanese, which has been a staple in Crown Center since 1985, and newcomers like Freebirds World Burrito from 2012 is closed due to its inability to reach company expectations.

The ever-present real estate plague of foreclosures is lightening up in the region, according to reports in the Kansas City Star, which pulled data from Realty Trac to support its claims that the housing recovery will continue into 2014. In Missouri, home foreclosures fell 39 percent in November compared with the year-earlier level. That amounted to 1,294 properties, or one in every 2,089 homes in the state. In Kansas, foreclosures and default notices are down 68 percent.
So how does the area compare to national numbers? Nationally, homes facing foreclosure actions fell 37 percent from a year ago, to 113,454 properties, RealtyTrac said. States with the highest foreclosure rates were Florida, Delaware, Maryland, South Carolina and Illinois. The Kansas City local movers have found that another strength in the area is the process of rehabbing troubled properties, bringing the overall market to a stronger place.

As we come to the close of 2013, it begs the question: what will 2014 bring Kansas City? The Gladstone local movers have a few insider bits of info to share with you as we prepare to ring in the new year. Rails are being laid down Main Street for the downtown streetcar line, but the trains won’t be running until 2015. However, there’s no shortage of projects getting underway or scheduled for completion in the Kansas City’s central business district. Areas up for discussion are the Kansas City International Airport and the streetcar line routes.
This year the feds plan to move 900 jobs to the Two Pershing Square office building next to Union Station after vacating the federal complex on Bannister Road. Luckily, the fact that housing is currently full will be an alleviated problem, as Cordish Co. said it will begin construction in 2014 of a 25-story, 311-unit apartment complex at 13th and Walnut streets. VanTrust Real Estate is teaming with Swope Community Builders to finally complete the long-delayed East Village project, just northeast of City Hall, starting with construction this year of a 180-unit apartment building at 10th and Holmes streets. But that’s not all! Construction work is to start on 45 to 50 new units next to the Rieger Hotel Grill & Exchange at 1914 Main St.

More residential options, more public transit, and preparing for population growth are all on the agenda in Kansas City for 2014.

Some civil engineering updates are coming to the Columbus Park area that will result in updated sidewalks, sewer and water lines, and new lighting, which are all preliminary steps to the impending housing development that is coming to the area next spring. The housing project is projected to cost $12 million, and it will be aligned with Columbus Park, which is more than 100 years old and proudly owns the title of the oldest and most charming areas in Kansas City. Aside from the history, there is also considerable convenience to the area, as it is located east of River Market and 10 minutes from City Hall.

The commercial movers in Kansas City have found that the area has a lot to offer a variety of vendors, and the heavy industrial influence that was in the area has been shifted to a more residential friendly area. The first steps (as mentioned at the beginning of this blog) are essential to building the infrastructure that the influx of residents, the first development of which will be a 16-unit apartment building which is estimated to cost $1.5 million, and it should be ready for occupancy late 2014.

The area east of Ilus W. Davis Park known as the East Village is getting a facelift thanks to the planned construction of a 180-unit apartment building and 270-space parking garage. Planned after these initial projects is the development of up to 600 apartments in the north half of the site, which encompasses eight blocks. The general plans have called for a variety of office and residential buildings each at about 4 or 5 stories in height. There is definite need in the area for a mixed-use community that can be home to retail, business and a bevy of families.

Local investment companies like VanTrust have backed the program and have saved the potential faltering of the project by supplying funding to help move the development forward. The Kansas City local movers feel the time is right to revitalize this area of town and the sooner the city provides the necessary approvals, construction can begin. With downtown apartments at 95 percent occupancy, the need for residential options in Kansas City is very real.

Here in Kansas City, we take pride in our city and we love when others recognize what a great place it is that we call home. Recently, Kansas City was shown love by a bevy of publications based on food, travel, and sports, such as:

Lonely Planet named Kansas City as one of the top 10 travel destinations for 2014

Travel & Leisure called the city the 10th best city or hipsters, as well as ranking it as home to the best barbecue in the country

Arrowhead stadium was ranked by BleacherReport.com as the #7 best football stadium

Time Magazine gave the honor of the best place to drink alcohol in the US to Missouri

Business Week named Kansas City among ‘America’s 50 Best Cities.’

Have you ever thought about visiting or moving to Kansas City? We’d love to see you! Happy holidays from the Kansas City movers.

Bringing new life into Kansas City has long been an incentive of residents and developers, and the process of rebuilding the urban area in the city has proven to be a complicated and costly process, however those hurdles are not standing in the way of completing the process because the need for redevelopment is essential to the growth of the city, and ultimately, the region. Recent endeavors to change the area will hopefully have better luck than past projects that have proven it’s a difficult task. One of the hardest factors to work with? The decrease in population! While many areas have shown growth, Kansas City, which is part of Jackson County, dropped in population by 20,000 people.

The lack of residents has equated to vacant homes, and some instances of entire blocks without any residents. The Kansas City commercial movers are concerned with the repercussions that come with low residency, such as the crime rate rising and poorly operating public schools, among others. Some projects have fared well thus far, such as the construction near Hospital Hill, a residence hall for the University of Missouri-Kansas City, Beacon Hill housing developments, and also some city engineering that will result in new sidewalks, water mains, and a landscaped walkway from Beacon Hill to Hospital Hill. The urban areas have always drawn interest of young residents, and it’s been their presence that has helped to grow the area, but if businesses and houses can continue to get filled up, the area will certainly see longer lasting success.

Entrepreneurs are a substantial element to a successful economy, considering it helps to attract residents and create jobs into the future. The Kansas City area has gained notoriety as a desirable place for companies, especially in the eyes of technology startups. Entrepreneurs both young and old have seemingly found a home in Kansas City as a place to nurture their career visions. Considering starting a business in Kansas City? The most recent develops to open up shop with goals of catering to the growing entrepreneurs in the area include:

Sprint’s Mobile Health Accelerator in the Crossroads Art District opened up in the area filled with new businesses and start ups just south of downtown. The accelerator will help to provide money and workspace for start-ups with little to no business funding. The space specifically aims to assist companies who have goals in linking health care and mobile devices. The Olathe movers have also learned that the Greater Kansas City Chamber of Commerce announced it had helped form a $25 million fund called FlyOver Capital. Generating large capital funding is an obvious goal of the group, but so is creating a solid amount of well paying jobs for the eager workforce of Kansas City.