Residential Sector Remains Strong in Kansas City for 2014

With low vacancy rates and rental prices increasing, residential projects are an attractive product in the Kansas City market. Residential, especially multifamily housing, continues to be very strong with a number of mixed-use projects underway.

Market-wide construction activity in Kansas City was up 9% in 2013 over 2012 activity. It’s interesting to note that residential construction activity, up 32%, exceeded non-residential activity, down 11%, in 2013. Residential investments are driving the region’s construction boom. 

Throughout 2014, the residential market will remain strong with new suburban projects as well as redevelopments and infill projects. We’ll complete the construction of 51 Main, a six-story luxury apartment and mixed-use project in Kansas City, this fall.