Campbell KC Homes and Gardens Story
Tuesday, January 12 2010 @ 01:16 PM CST
Promising Investment
The Campbell Building transitions from rentals to lofts in one of the best locations downtown. Promising Investment
The old real estate adage “location, location, location” is certainly true when speaking of the Campbell Building in downtown Kansas City, Mo.
The former apartments have been renovated into 57 one- and two-bedroom condominiums that sit at 1535 Walnut, a stone’s throw from the Power & Light District.
“Location definitely has been the No. 1 seller of the property,” says Anne Marie Bennett, a Reece and Nichols agent for the building.
Abdullah Qandeel, one of the residents at Campbell, purchased his property almost a year ago. After looking at about 40 potential properties in the Plaza and downtown areas, he decided on downtown because of its “movement” and growth. And he chose Campbell because of the “true walkability” of the location and its views that include the soon-to-be-complete Kauffman Center for the Performing Arts. In larger cities like New York, Abdullah says the valuation of homes depends largely on the views, adding that few locations downtown rival Campbell’s panoramas.
Along with site, another benefit of the Campbell Building is that it offers plenty of amenities for residents that include large balconies for outdoor space, a full fitness center with HDTV, laundry facilities on each floor, private parking with one designated space per unit, storage, on-site maintenance, a private wine cellar and a monthly wine club where members receive one bottle free per month for their first year at the building.
The building, renovated in high-end detail, was originally designed and built during World War I by J.C. Sunderland, who was also the designer of the Kansas City Masonic Temple and what are now the Coffee Lofts. The individual units are replete with polished concrete floors, large windows and high ceilings, exposed brick, granite countertops, fireplaces, cherry wood cabinetry and a one-year developer warranty. Homeowners also receive a tax abatement through 2025.
While all downtown lofts and condos benefit from minimal short-term taxes, Abdullah adds that Campbell is more affordable than most other buildings. “Campbell is less expensive because it is a younger property and because there are more vacancies right now,” he notes.
The lofts range from 780 to 1,380 square feet and are priced from $190,000 for a one-bedroom, one-bath loft up to $399,000 for two bedrooms with a full den and two full baths. Anne Marie says about 40 percent of the units are currently sold.
Abdullah adds that one more factor played a role in his decision to buy at Campbell: the developers were willing to work with him. They compromised on issues such as incentives, upgrades on his loft and even improvements to the building.
“If a developer makes a promise and sticks by it, that means a lot,” he says. “When John Bennett Jr. makes a verbal promise, he delivers. They always stuck by their word, and that is worth paying for.”
816.842.6544
kcloftcentral.com
This article originally appeared in the January/February 2010 issue of Kansas City Homes & Gardens.
The Campbell Building transitions from rentals to lofts in one of the best locations downtown. Promising Investment
The old real estate adage “location, location, location” is certainly true when speaking of the Campbell Building in downtown Kansas City, Mo.
The former apartments have been renovated into 57 one- and two-bedroom condominiums that sit at 1535 Walnut, a stone’s throw from the Power & Light District.
“Location definitely has been the No. 1 seller of the property,” says Anne Marie Bennett, a Reece and Nichols agent for the building.
Abdullah Qandeel, one of the residents at Campbell, purchased his property almost a year ago. After looking at about 40 potential properties in the Plaza and downtown areas, he decided on downtown because of its “movement” and growth. And he chose Campbell because of the “true walkability” of the location and its views that include the soon-to-be-complete Kauffman Center for the Performing Arts. In larger cities like New York, Abdullah says the valuation of homes depends largely on the views, adding that few locations downtown rival Campbell’s panoramas.
Along with site, another benefit of the Campbell Building is that it offers plenty of amenities for residents that include large balconies for outdoor space, a full fitness center with HDTV, laundry facilities on each floor, private parking with one designated space per unit, storage, on-site maintenance, a private wine cellar and a monthly wine club where members receive one bottle free per month for their first year at the building.
The building, renovated in high-end detail, was originally designed and built during World War I by J.C. Sunderland, who was also the designer of the Kansas City Masonic Temple and what are now the Coffee Lofts. The individual units are replete with polished concrete floors, large windows and high ceilings, exposed brick, granite countertops, fireplaces, cherry wood cabinetry and a one-year developer warranty. Homeowners also receive a tax abatement through 2025.
While all downtown lofts and condos benefit from minimal short-term taxes, Abdullah adds that Campbell is more affordable than most other buildings. “Campbell is less expensive because it is a younger property and because there are more vacancies right now,” he notes.
The lofts range from 780 to 1,380 square feet and are priced from $190,000 for a one-bedroom, one-bath loft up to $399,000 for two bedrooms with a full den and two full baths. Anne Marie says about 40 percent of the units are currently sold.
Abdullah adds that one more factor played a role in his decision to buy at Campbell: the developers were willing to work with him. They compromised on issues such as incentives, upgrades on his loft and even improvements to the building.
“If a developer makes a promise and sticks by it, that means a lot,” he says. “When John Bennett Jr. makes a verbal promise, he delivers. They always stuck by their word, and that is worth paying for.”
816.842.6544
kcloftcentral.com
This article originally appeared in the January/February 2010 issue of Kansas City Homes & Gardens.