Local developer UC-B Properties is moving forward with Scholars Row, Kansas City, MO’s first multifamily project made entirely of micro apartments, according to the Kansas City Business Journal.
The two-story building will comprise 47, 300-square-foot apartments renting for around $800 per month. Each will feature built-in queen bed platforms, desks, benches and chairs.
Targeting students, young professionals, and visiting doctors and researchers from the University of Missouri–Kansas City and other educational venues, the developer says the small units will be attractive to renters who desire an urban lifestyle but don’t want or need excess space.
Scholars Row combines two current multifamily trends — a continued need for student-oriented housing and a growing interesting in micro apartments to ease inventory shortages and affordability woes.
Microhousing projects have been popping up in cities around the country, particularly in areas where rents are skyrocketing and supply is slim, targeting young professionals who want to live in the city but can’t afford the usually high costs. The projects’ success depends on a number of factors, and, generally, developers are finding more success with rental units than for-sale properties.
At the same time, the student-oriented housing market remains strong, particularly as budget cuts at the state level could hinder on-campus housing projects.
One trend in student housing is a desire for units with smaller floor plans and more building amenities, such as study areas, recreation rooms and lounges, J.J. Smith, president of CA Ventures’ student housing business, told National Real Estate Investor in January. This trend could bode well for microhousing, as those buildings also trade small unit sizes for more impressive common areas.
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