Unique Homeownership Opportunity in Historic Beacon Hill Neighborhood

JANUARY 21, 2019
Unique Homeownership Opportunity in Historic Beacon Hill Neighborhood

Kansas City, MO (January 2019) — In 2000, Beacon Hill- once one of the most prominent neighborhoods in Kansas City’s African-American community- was a shell of its former self. Bordered by The Paseo and Troost east to west and 22nd to 27th Street north to south, the Beacon Hill neighborhood was mostly vacant lots and abandoned homes. That has changed dramatically!

Thanks to an effort between the City of Kansas City, Mo., neighborhood leadership and several community business partners, Beacon Hill has witnessed a renaissance.

Under an agreement with the City, Newmark Grubb Zimmer, one of the region’s largest full-service commercial real estate firms, has 31 residential lots for sale in this historic neighborhood, beginning at $20,000. The lots are located primarily along Forest from 25th to 27th Street. Home size must be a minimum of 1,800 square feet. Newmark Grubb Zimmer is marketing the lots and implementing the master plan and design standards.

“Hundreds of new residents have moved into Beacon Hill in the last few years,” said John A. Wood, assistant city manager and director of the city’s Neighborhoods and Housing Services Department, “and much of the credit for the neighborhood’s rebirth goes to long-time Beacon Hill residents for their patience, persistence and perseverance.”

Once a buyer finds their ‘dream’ lot for their ‘dream’ home, Newmark Grubb Zimmer can help find a builder or the buyer can bring their own.

“We expect these lots to go fast,” said Daniel Musser, director of development services and a principal with Newmark Grubb Zimmer. “It’s just such a unique opportunity in such a prime location, you really want to get in before it’s too late.”

Adding to the uniqueness of the available lots, a 14-foot alley- a throwback from many historic Kansas City neighborhoods. It is one more way to link Beacon Hill’s glorious past with its exciting future!

Several new residential and commercial developments in recent years make this is a great time to live in Beacon Hill. Since 2011, more than 50 new homes have been built on once empty neighborhood ground and in 2013, the construction of UMKC student housing at 24th and Troost adjacent to Hospital Hill added 126 graduate and medical student apartments to the area. Groundbreaking ceremonies were held in the summer of 2018 on a new 90 room hotel with retail space near 23rd and Troost and Milhaus Development is constructing 189 apartments with a retail component at 27th and Troost. Those two projects alone are valued at more than $32 million.

“UMKC’s student housing construction though, is what really got this wave of new residential and commercial development going in Beacon Hill,” Wood said. “It was the single largest new development on the east side of Troost and it was symbolic in crossing the racial divide associated with it.”

In the last 15 years, the City of Kansas City, Mo. has invested more than $20 million in the Beacon Hill neighborhood and when existing projects are completed, the private sector investment will total more than $150 million. More importantly, existing owners have not been displaced and many of those owners are remodeling and rehabbing their homes.

“What’s happening at Beacon Hill is truly an example of a public-private partnership working seamlessly to transform and revitalize a neighborhood,” Wood said.

For information on purchasing a lot in Beacon Hill, interested buyers are encouraged to visit www.beaconhillkansascity.com for additional information.

About Newmark Grubb Zimmer

Newmark Grubb Zimmer (“NGZ”) is a full-service commercial real estate company providing a range of services including sales and leasing, investment sales, property and facilities management, global corporate services, owner’s representative services for public and private development projects, and public-sector consulting. Its staff boasts an array of experience in design, construction, valuation, finance and legal matters.

Regularly recognized as one of the top brokerage firms in the region, NGZ manages more than 10.4 million square feet of office, medical, industrial and retail property, and serves as corporate real estate advisor for an assortment of local, regional, national and international companies.

About Newmark Knight Frank

Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark"), is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.

Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.