Day 4 - Multifamily Development - 12 Days of Why It's Great to be in KC!

From the downtown to the suburbs, we are seeing great opportunities arise for successful multifamily

developments all over the Kansas City area. On day four of our Block Real Estate Services 12 Reasons Why It’s Great to be in KC, we will share the multifamily forecast for 2014 and feature one of our own multifamily developments.

Multifamily in 2014

National vacancy rates decreased significantly in 2013. Although this rate is trending downward, we may see vacancies increase slightly in 2014 as multifamily construction and development continues to plow forward. As this Multifamily Executive article states, 2014 is shaping to be a seller's market with more play from foreign investors. Amenities will also take more precedent in 2014. Consumers will have many options with the wide array of new multifamily development and will thus demand better amenities --- especially for residents in higher income neighborhoods. Learn more from BRES about Trends in Multifamily Amenities.

WaterCrest

Recognizing that amenities will be in top demand in 2014, Block Real Estate Services (BRES) has been focusing on developments that place amenities as a priority. WaterCrest is BRES' newest multifamily site at City Center. The multifamily development will consist of a 306 luxury units in the heart of Lenexa, Kansas. WaterCrest’s amenities will include efficient top-of-the-line apartments with access to pools, clubhouses, tanning, and personal training options for residents. Watercrest apartment construction commenced in December 2013 with completion by mid-2015. Find out more about WaterCrest here.

The continued rise and success of multifamily developments in Kansas City is one of many reasons why BRES believes it's great to be in Kansas City!

2014 KC Market Report Coming in January.  Click here to sign up now!

Contributor:

Greg Galvin
Sr. Vice President & Multifamily
Development Director
Block Real Estate Services
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