The city and county have been demolishing many of the buildings (mostly multi-family units) in the Kansas City, MO "mid-town" area. The vacancy rate on apartments has dropped below 5% in the last year. The current migration is back toward the city.
Kansas City is the world head quarters for US Sprint , employing over 12,000. Kansas City will soon to be the world head quarters of Gateway computing, a large PC clone manufacturer. Their new facility has been completed and Gateway has stated that they plan to be the largest employer in the Kansas City area by the year 2000. (We estimate at least 15,000 new white collar or high-middle income jobs.)
Kansas City has long been a major trading stop to bring resources from the Western United States to the people of the Eastern US and finished products from the East back to the West. There are hundreds of square miles of storage facilities located UNDER the city, these were created when Kansas City was built. Many buildings in Kansas City have marble steps or other marble structures. The storage areas were created from old mines. These low cost, temperature controlled storage areas increase Kansas City worth as a primary shipping point in the United States.
Beyond the economic factors, Kansas City is also a very nice place to live. It has a lower than national average cost of living, quick access to rural areas to enjoy fishing or hunting, both a national Football and Baseball team (each with its own new stadium) and a wide variety of cultural activities.
Kansas City has the potential to be a growth city for many years to come.
During the weeks of July 22 and 29, 1996 Kaim Chigh representatives visited the Kansas City, KS/MO area. We met with a local broker, two attorneys, an insurance agent, an inspector, two contractors, two property managers and reviewed over 100 properties, mostly multi-family (4plex and larger) units.
Representatives returned to Kansas City in August to further review these properties and to look at single family homes. During this trip we will be worked with contractors on rehabilitating one of the sixplexes and on a four-plex.
On September 25-27 representatives traveled to KC to meet again with property managers, brokers and lenders.
As of December 3, 1996 two properties have been acquired. A third is under contract and two more are expected to be under contract by December 4, 1996. All three should close by January 15, 1997. These properties consist of a triplex, two four-plexes (closed), a fiveplex and a sixplex.
For a copy of the full proposal please E-Mail your name and address to us. Ask for the Purchasing Proposal.