Kansas City Real Estate
Kansas City is situated at the junction of the Missouri and Kansas rivers, it lies along the boundary between Missouri and Kansas, and is directly opposite of Kansas City, Kansas.
Kansas City is the largest city in Jackson County, the most populous city in Missouri and the 7th largest city in the Midwest (between Cleveland, Ohio and Omaha, Nebraska).
As of the 2000 census, the city has a population of 441,545. Combined with Kansas City, Kansas, the population is 588,411, but the entire metropolitan area is approximately 1,836,038 (estimated 2,015,282 in 2005). It is the center of the 26th largest metropolitan statistical area in the United States, although St. Louis, Missouri has a larger metropolitan area with about 2.8 million people.
The Town of Kansas, later to become Kansas City, was established in 1850. The name derived from a trading post in the area that had been dubbed "the village of the Kansa," a reference to the local Kaw (or Kanza) tribe.
Kansas City has been nicknamed the "City of Fountains" because it ranks second in the world in number of fountains (over 200), exceeded only by Rome. It has also been nicknamed the "Heart of America" because it is within 250 miles of both the geographic and population centers of the nation. It is also referred to informally as Cowtown and the BBQ Capital of the World.
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Kansas City Cost of Living
ACCRA Cost of Living Index
ACCRA produces a cost of living index which is unique in measuring inter-city differences in the cost of six major components of consumer expenditures (grocery items, housing, utilities, transportation, health care, and miscellaneous goods and services).
1st QUARTER 2005
Housing Affordability
Out of the metropolitan areas surveyed by the National Association of Home Builders, Kansas City ranks eleventh in housing affordability during the fourth quarter of 2003. Kansas City consistently rates as one of the most affordable housing markets among metropolitan areas with populations exceeding one million. Among these metros, Kansas City was the second most affordable market in the fourth quarter.
NAHB’s Housing Opportunity Index
measures affordability differences across communities by tracking the proportion of homes sold in a market that a household earning the median income in that market could afford to buy.
| Housing Affordability, 4th Quarter 2003 | ||
KANSAS CITY MSA |
UNITED STATES |
|
| Median Income | $66,700 |
$56,500 |
| Median Sales Price | $119,000 |
$186,000 |
| Housing Opportunity Index | 87.9 |
58.9 |
In Kansas City, a household earning the median family income of $66,700 could purchase 87.9% of the houses sold during the fourth quarter of 2003. In San Francisco, the nation’s most expensive city for housing, a family earning the median income of $91,500 could afford to purchase only 16.5% of area homes sold in the fourth quarter. Kansas City also compares favorably with other markets in Coldwell Banker's annual Home Price Comparison Index. This index holds the home type compared constant across housing markets. The home type employed is typical of a corporate middle management transferee (single-family home, 2200 sq. ft., 4 bedrooms, family room, 2 1/2 baths, 2-car garage). Such homes range from $151,562 to $237,237 in the Kansas City submarkets reported on by Coldwell Banker in the 2005 report. A similar home in San Francisco would cost $1,300,000.
Tax Burdens, 2004
| State and Local Tax Revenue Per Capita | |||
KANSAS |
MISSOURI |
U.S. |
|
| All Taxes | $3,380 |
$2,822 |
$3,447 |
| Property Taxes | 1,187 |
747 |
1,086 |
| Sales Taxes | 1,253 |
1,162 |
1,230 |
| Individual Income Taxes | 701 |
700 |
734 |
| Corporate Income Taxes | 61 |
39 |
115 |
| State and Local Tax Revenue Per $1,000 of Personal Income | |||
KANSAS |
MISSOURI |
U.S. |
|
| All Taxes | $114 |
$97 |
$110 |
Kansas City History
The French explorers Louis Joliet and Jacques Marquette were the first Europeans to spot the area that came to be known as Kansas City, doing so via a six-day canoe trip up the Missouri River in 1673. The French settled in the lower Missouri Valley, first at St. Louis in 1765 and later Chouteau Landing in 1821 by François Chouteau, at the confluence of the Missouri and Kansas rivers.
John McCoy established Westport in 1833 along the Santa Fe Trail, three miles away from the river. McCoy and a group of investors bought a farm between Westport and the river in 1839 and established the Town of Kansas in 1850.
The Missouri General Assembly approved the incorporation on February 22, 1853 and then on March 18, 1853 the City of Kansas was created with a newly elected mayor. It had an area 0.98 square miles and a population of 2,500. The City of Kansas was renamed Kansas City in 1889. Westport became part of Kansas City on December 2, 1897.[1] The original portion of the city is the present day City Market neighborhood along the Missouri River on the north edge of downtown. The boundary lines at that time extended from the middle of the Missouri river south to what is now Ninth street, and from Bluff street on the west to a point between Holmes and Charlotte streets on the east.[2]
By that time, The Town of Kansas and Westport, along with nearby Independence were critical points in westward expansion. Not only did three major trails— Santa Fe, California, and Oregon—start from Jackson County, the area was ripe with animosity as the Civil War approached. As a slave state, Missourians tended to sympathize with the southern states. With Kansas petitioning to enter the union under the new doctrine of popular sovereignty, many from the area crossed into Kansas to sway the state towards allowing slavery, at first by ballot box and then by bloodshed. During the Civil War, the Town of Kansas was in the midst of battles, almost all of them victories by the Union. The August 1862 Battle of Independence stunted a Confederate advance into northern Missouri (settled by pro-slavery Virginians), and the October 1864 Battle of Westport effectively ended Confederate efforts to occupy the city. However, a successful raid on Lawrence, Kansas led by William Quantrill forced General Thomas Ewing to issue General Order No. 11, forcing the eviction of residents in four counties, including Jackson, except those living in the city and nearby communities, or those whose allegiance to the Union was certified by Ewing.
After the Civil War, the Town of Kansas grew rapidly. The selection of the city over Leavenworth, Kansas for the Hannibal & St. Joseph Railroad bridge over the Missouri River brought about significant growth. The population exploded after 1869, when the Hannibal Bridge, designed by Octave Chanute, opened. The boom prompted a name change to Kansas City in 1889 and the city limits to extend south and east.
Kansas City, guided by architect George Kessler, became a forefront example of the City Beautiful movement, developing a network of boulevards and parks around the city. The relocation of Union Station to its current location in 1914 and the opening of the Liberty Memorial in 1923 capped this movement. Further capping Kansas City's growth was the opening of the innovative Country Club Plaza development by J.C. Nichols in 1925.
Kansas City also served as a launching pad for several storied careers. Ernest Hemingway wrote for the Kansas City Star during World War I. Walt Disney moved to Kansas City and established his first animation studio (Laugh-O-Gram Studio) at 31st and Locust in 1923. Several early screen actors, including Jean Harlow, Ginger Rogers and Craig Stevens, grew up in Kansas City.
At the turn of the century, political machines attempted to gain clout in the city, with the one led by Tom Pendergast emerging as the dominant machine by 1925. A new city charter passed that year made it easier for his Democratic Party machine to gain control of the city council (slimmed from 32 members to nine) and appoint a crooked city manager. The machine fell in 1939 when Pendergast, riddled with health problems, pleaded guilty to tax evasion. The machine, however, gave rise to Harry S. Truman, who quickly became Kansas City's favorite son.
After World War II, the city experienced considerable sprawl, as the affluent populace bolted for Johnson County, Kansas and eastern Jackson County. However, many also went north of the Missouri River, where Kansas City had incorporated areas during the 1920s and in 1963. This annexation would pay off for the city in the 1970's, when a population and developmental boom occurred in both Platte and Clay counties, bringing more buisinesses to the Northland and making many of the landowners in the area millionares. The population of the city proper dipped, but over the past 15 years has rebounded to nearly 450,000. Not only has growth in annexed areas (as far north as Smithville and south as Cass County) contributed to the growth, but also successful efforts to revitalize the downtown area. Such growth and ability to annex surrounding areas has allowed Kansas City to surpass St. Louis as the largest single municipality in the state of Missouri.
Kansas City Development ProjectsPower and Light District
The Power and Light District is a nine-block area immediately to the south of the Central Business District. Originally to be named "Kansas City Live", the developer - Cordish, Inc. of Baltimore, Maryland - decided to name the district after the historic art deco Power and Light Building. The present headquarters of the Kansas City Power and Light Company, a subsidiary of Great Plains Energy(NYSE: GXP), is also located on the northern side of the district. Instead, a one-block area near the new H&R Block headquarters tower--devoted to live music venues--will be named Kansas City Live. As of spring 2006, the H&R Block building has been topped out and the exteriors and interiors are being completed. Its prominent oval shape mixed with blue-green reflective glass makes for an architectural transition between the Central Business District's skyscrapers and the south loop's older buildings. If viewed from the south, the downtown skyline will have four glass towers all within a few blocks of the intersection of Twelfth and Main streets.
As well, Cordish plans to build between four and six residential towers in the project. As of spring 2006, however, only one is under construction: a 22-story, 200-unit residential tower immediately north of the H&R Block headquarters on a lot once occupied by the flagship store of the Jones Store Company. In March of 2006, the ground was leveled and dug out. section of the new district is estimated to be completed by fall 2007. As of September 2006, discussion had begun about whether to merge the residential tower with a branch of W hotels or to build a seperate highrise on the other side of the block.
Sprint Center
The Sprint Center, an 18,500-seat arena, is a project that was announced shortly after the Power and Light District. In 2004, the proposed arena was effectively passed by the voters of all the affected counties, who voted to fund the arena by means of a tax on car rentals and hotels. This project has raised some controversy. Enterprise Rent-A-Car, a St. Louis corporation whose majority shareholder is known for supporting an NBA team for St. Louis, lobbied against the tax and tried to sway public opinion against the arena. Some city officials, as well as those who did not desire to pay the increased tax, also fought against the project. One of the most prominent of these individuals was Sandra McFadden-Weaver, a member of the City Council of Kansas City, Missouri. Despite the outcry from these few dissenters, the arena vote passed decidedly.Construction began late in 2004. Before this, however, and even before the vote, the city sent out a request for local and national architectural firms to bid on the project. Some of these firms included HOK Sports, Ellerbe Beckett, 360 Architecture, Rafael Architects Inc. and the world-renowned Frank Gehry. The first four of those firms, however, collaborated to form the "Downtown Arena Design Team", and won the contract over Gehry's bid. As as a reason for their choice, the city stated both that those companies had completed a variety of sports-related projects done many projects related to sports, and that all were local companies.Since construction has begun, many local minority leaders have protested the construction company and contractors for not putting enough minorities in the construction and contracting teams. The contractors, however, assert that they have complied with state and federal requirements and continue to meet the requests of local citizens.
Convention center ballroom
Bartle Hall Convention Center, having notably expanded over the past decade, has decided to expand yet again. The current project entails a large ballroom facility, situated over I-670's passage through downtown Kansas City just east of the convention center. The project is estimated to cost about $100 million. As of spring 2006, this project is under construction and the building is well on its way to completion.
Performing Arts Center
A new Performing Arts Center has proposed south of Bartle Hall Convention Center and its new ballroom. It entails an 1,800-seat concert hall and a 2,200-seat theatre. Currently, the design comprises two buildings, although originally the plan called for three buildings. Also proposed is an 800-car parking garage, to be placed underneath a park immediately south of the building. Those looking to build the PAC have announced it will start construction in October of 2006. It will cost $386,000,000.
Federal Reserve Bank of KC headquarters
The Federal Reserve Bank of Kansas City decided to move from a 21-story tower in the Downtown Loop to a Penn Valley Park location on the southern edge of Downtown, immediately west of Crown Center on a site formerly occupied by Trinity Lutheran and St. Mary's hospitals. The headquarters will house a 14-story tower surrounded by several smaller two-story and four-story buildings. Construction is underway at the site, and the stonework is already being placed on the facade.
IRS Headquarters
The IRS recently decided to construct a new building downtown, just west of Crown Center, which will house 6,000 employees. Presumably because of the threat of terrorism, the IRS decided on this particular site because it is in a low-lying area and will include low-rise buldings. The plan calls for a $200 million facility with 5,500 parking spaces in its accompanying garage, along with over a million square feet of space for the IRS. Construction began in 2004 and should be ready in time for a scheduled completion in the summer of 2006. The IRS will also occupy the nearby Kansas City Main Post Office building, the Post Office having moved across the street to a building next to Union Station.
Residential Construction
This is a list of all currently under construction, proposed, and envisioned developments for Downtown that include residential units, ranging from lofts, to condos, to studios.
Under Construction
| Name | Units | Location |
| Founders at Union Hill | 276 | Crown Center |
| Metropolitan Condos | 236 | Downtown Loop |
| Bridgeworks | 224 | River Market |
| Cold Storage | 223 | River Market |
| Manhattan Condos | 220 | Downtown Loop |
| P&L District Condos I | 220 | Downtown Loop |
| Wallstreet Tower | 144 | Downtown Loop |
| Professional Building | 132 | Downtown Loop |
| One Park Place | 106 | Crown Center/Midtown |
| Waltower Apartments | 53 | Downtown Loop |
| Liberty Lofts | 44 | Crown Center |
| Gillham Row | 33 | Crown Center |
| Gumbel Building | 32 | Downtown Loop |
| Freighthouse Flats | 23 | Crossroads |
| 5 Delaware | 12 | River Market |
| Hotel Monroe | 8 | Crossroads |
| East Market Row | 8 | River Market |
| 1800 Baltimore | 6 | Crossroads |
| Total | 2,000 |
Number of units under construction in each location:Downtown Loop: 1037 (52%)River Market: 467 (23%)Crown Center: 459 (23%)Crossroads: 37 (2%).
Proposed
| Name | Units | Location |
| Riverfront Redevelopment | 1,200 | Riverfront |
| East Village | 1,200 | Downtown Loop |
| P&L District | 980 | Downtown Loop |
| Crown Center Rowhouses | 300 | Crown Center |
| 1800 Broadway | 120-135 | Crossroads |
| Federal Reserve Tower | 120 | Downtown Loop |
| Wellington Place | 110 | Downtown Loop |
| HD Lee | 105 | Crown Center |
| Power and Light Condos | 95 | Downtown Loop |
| Graphic Arts Building | 58 | Downtown Loop |
| Republic Paper | 25 | River Market |
| W Lofts | 17 | Crossroads |
| SoLo Lofts | 12 | Crossroads |
| Total | 4,342 |
Number of units proposed in each location:Downtown Loop: 2,563 (59%)Riverfront: 1,200 (28%)Crown Center: 405 (9%)Crossroads: 149 (3%)River Market: 25 (1%).
Envisioned
| Name | Units | Location |
| East River Market | 1,200 | River Market |
| Union Hill | 300 | Crown Center |
| Clubhouse Lofts West | 42 | Downtown Loop |
| Gate City Building | 20 | Downtown Loop |
| Total | 1,792 |
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