KANSAS CITY, Mo. -- Several new apartments buildings are popping up in the River Market area, and developers say this is just the beginning because there is such a high demand.
Jim Andrews, owner of Market 3 in the River Market, says the area has changed drastically since he opened his doors.
"When we opened, the residential population down here was probably about a third of what it is now,” said Andrews.
The sound of construction is music to his ears as the new properties mean more foot traffic for his market and café.
"Every new place, especially every new place that's right around here, is kind of a captive audience for us,” said Andrews.
"All of downtown has seen a tremendous resurgence but the area that's gotten a great amount of interest most recently has been the River Market,” said Sean O’Byrne, Vice President of Business Development for the Downtown Council of Kansas City.
A big chunk of that new development is in the form of housing.
Right now there are just under 1,600 units in the River Market neighborhood with another 140 under construction. Over the next several years, 700 additional units are planned.
Dana Gibson*, a developer with Mallin Gibson Properties, says the additional units can’t come soon enough.
"We turn away 70 people a week who are looking for a place to live and we have no advertising,” said Gibson.
Gibson says new buildings like 531 Grand, The Union and 2nd and Delaware are all luxury type apartments.
He says those are catering to the two groups of people so eager to live in the River Market.
"People 35 and under and then it's people 55 and over the empty nesters who are choosing to live downtown,” said Gibson.
The resurgence is having a positive impact on businesses in the area who have more people walking in their doors. The new housing is also having an impact on office space. O’Byrne says for the first time in years they are seeing a decrease in office vacancy in the downtown area.
"It's two prong actually, it works out great for the retailers and it also attracts those corporations to move their offices downtown because this is where the workers are,” said O’Byrne.
The lean into luxury housing is something Gibson is worried could change the outlook of the area, which for about 20 years has been 25% low to moderate income.
"I'd hate to see it become an exclusive club where it's not available to all people to be here,” said Gibson.
With the growth and new housing, Gibson says it’s important to continue building in affordable housing to keep the neighborhood balanced. He’s hopeful that will happen.
"It makes for a healthy neighborhood long-term to have people from every economic level here,” said Gibson.
*Editor's Note: The original version of the story incorrectly identified Dana Gibson as Dana Wilson. The story has been corrected. We regret the error.
