Affordable housing in downtown Kansas City? Seriously, why would you buy anything else? They are practically giving these suckers away and they are really nice. Not everyone can qualify though, there are income restrictions you must meet in order to purchase this development; you can find those rules on their website. Present tenants and city employees were given the first chance at purchase, but now it is free to anyone who meets their requirements. Prices range from $79,500-$89,500 for one and two bedroom condos, with upgrades available. Also, for the first residents, a $3000 downpayment assistance grant is being offered. Wow! This deal just gets sweeter and sweeter.
For those of you who don’t know, Quality Hill is a historic area on the west side of the downtown loop, at about 10th and Broadway. Quality Hill has changed over time, but for the last 20 years or so, it has been an area with nice, well-maintained apartments – built to look like brick walk-ups. I guess there will be a different developer converting some of the other apartments soon, and I believe it will be a more normal pricing structure based on market prices so it seems to me that these are the ones to buy if you can qualify. Why, you may ask, are the developers offering such low prices??? Well, I’m not exactly clear on this but it has something to do with some sort of tax development deal… There are appreciation and rental restrictions for a certain period of time.
Feel free to ask me questions or learn more at the Quality Hill Square Condominiums Website