Kansas City Apartment Construction Booming

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Kansas City is experiencing the biggest building boom in apartments since 2001, with bankers eager to lend money on what’s seen as a safe bet in a still sluggish commercial real estate market. Permits for more than 1,700 units were issued through the first six months of the year, up 229.2 percent from last year, according to the Home Builders Association of Greater Kansas City. Drawn by an emerging trend of people who prefer renting over owning, low vacancies, increasing rents and the fact most other commercial real estate construction activity, except industrial buildings, remains in the doldrums, bankers are hungry for a place to invest.

Read more from the Kansas City Star

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