Luxury condo’s accelerated sales afford new financing options
The revitalization that downtown Kansas City has experienced in recent years has included the addition of attractions such as the Kauffman Center for the Performing Arts and the Sprint Center, a thriving Crossroads Arts District, and award-winning restaurants.
Along with this growth has come an increased demand for urban living options. The bustling scene now found downtown has drawn people from all stages of life to consider a move to the city, and nowhere has this been more evident than at One Park Place, where the sales team has written a record number of contracts this year. Enthusiastic buyers find generously sized two- and three-bedroom homes, along with maintenance-provided services that make it easy to appreciate the condo lifestyle and million-dollar amenities.
Low interest rates, combined with well-priced inventory, have created great momentum and strong sales in recent months. According to Andrew Mall, who markets the building along with Ellen Vap, “We have already closed five sales in 2013 and have seven more contracts signed. Three floor plans are now completely sold out and only a few remain of other popular plans.
With more than half of the building’s condos now sold, One Park Place has met another major milestone in sales and contracts solidifying the project as a Fannie Mae Condo Project Manager (CPM) approved project. The CPM approval process evaluates a project on numerous acceptance guidelines including the number of units sold or under contract; percentage of owner-occupied units; and a homeowner association’s solvency and stability.
With this approval, future buyers will need only a 5% down payment and current owners will be allowed to refinance and take advantage of record low rates.
“Savvy buyers appreciate the location, amenities and floor plan options offered at One Park Place,” said Mall. “Most importantly, buyers in the condo market are looking for signs of long-term stability and Fannie Mae’s CPM project approval is further testament to the positive future of One Park Place.”
According to Steve Tremaine, Senior Loan Originator at PrimeLending, the flexibility from this financing option will benefit buyers and current owners in various ways, not the least of which is 95% loan-to-value financing on owner occupied and second home purchases and refinances, and very competitive interest rates.
Condos inside One Park Place range from 1,470 square feet to over 4,000 square feet with prices beginning in the mid-$200,000s and extending beyond $1 million. This weekend is perfect for touring the five furnished models featuring a variety of distinct floor plans, each offering an array of living space options.
Each of the stunning homes offers open floor plans that allow buyers to make their own design statements. A carefully chosen mix of finishes creates a pleasing aesthetic while 9-foot ceilings add airiness not often found in condo buildings. Each space has been designed in neutral palettes that allow homeowners to create their ideal living area. These carefully considered combinations of color, texture and finishes bring a fresh look to every home.
The newest model home, located on the Southeast corner of the 8th floor, features expansive views of the Plaza and Midtown areas and is listed for $425,000. This condo presents two bedrooms plus a study, two and a half bathrooms and over 2,100 square feet of beautiful living space. Stainless steel appliances in the kitchen, including a gas range, create a fully equipped workspace ideal for simple food preparation or more elaborate entertaining. The master bedroom boasts a large walk-in closet and the master bathroom includes a large bathtub and shower, granite countertops, dual sinks with ample drawer space and under-sink storage. Conceived to be comfortable and family-friendly, this Pottery Barn-designed-and-furnished home offers a rustic, industrial feel and sets the stage for entertaining with southwest-facing views that extend for miles.
As summer approaches, owners will enjoy the private terrace level, an oasis in the center of the city, complete with a furnished patio, swimming pool, whirlpool and a BBQ area. A putting green and dog run, rarely found in the city, are conveniently located right outside your door. An onsite, premier fitness area includes a full weight room equipped cardio and strength training equipment. An indoor saltwater pool, steam room, mirrored Pilates/Yoga studio and a massage room are also available on the lobby level.
In addition to multiple financing options, which help make buying your dream home at One Park Place a reality, a real estate property tax abatement in place until 2016 reduces the amount of property taxes owed by approximately 90 percent and represents a substantial, bottom-line benefit for homeowners.
Spacious condos, unsurpassed amenities and exquisite city views combine to create a luxurious lifestyle at One Park Place that is unequalled in the city.
One Park Place
- Prices: Starting in the upper-$200,000s.
- Location: 700 W. 31st St. Kansas City.
- Contact: Andrew Mall and Ellen Vap at 816-756-2221.
- Hours: 11 a.m.-5 p.m. Monday through Saturday, 1-5 p.m. Sunday
- Web: www.OneParkPlaceKC.com







