The Lee’s Summit Economic Development Council sees growth on the horizon of the burgeoning Kansas City suburb. In partnership with the Downtown Lee’s Summit Main Street Inc., the Lee’s Summit EDC has released a new comprehensive housing study that projects that steady downtown population growth through 2020 will drive demand for new market-rate and affordable housing options.
“This study confirms a strong need for additional affordable and market-rate housing in Downtown Lee’s Summit as the city continues to grow,” said LSEDC President Rick McDowell. “It’s been 10 years since a new apartment project has taken shape Downtown. In essence, this housing study says, ‘If they build it, they will come.’“
The study, completed by Canyon Research Southwest Inc., says that by 2020, the city of Lee’s Summit will reach a population milestone of 100,000. On that same note, almost 80 percent of downtown Lee’s Summit housing inventory was built prior to 1980, and only 2.6 percent was built in 2000 or after. The study also says that no multifamily residential construction has taken place downtown since 2005.
To check out the housing assessment and an executive summary of the study, click here.