KANSAS CITY, Mo. — Friday was move-in day at the newly opened Two Light luxury apartments in the Power and Light District. New residents unpacked their bags for prices that go up to $6,000 per month.
“You’re seeing a lot of people across the country that want to live in a walkable, 24/7 environment with access to entertainment, with access to major employers,” said Nick Benjamin, executive director of the Power and Light District.
The new apartment building is already more than half full, and units are going pretty quickly. They’re adding seven to 10 people a week in addition to the 170 tenants who already signed leases.
Inside, you’ll find a range of amenities — a spa, an infinity pool and a lot of art in the community spaces.
“We have a building concierge and sommelier,” Benjamin said.
Two Light is just blocks away from the KC street car and many entertainment hot spots.
Of course, that all comes with a price tag. The apartments start at $1,200 a month for a one bedroom. Two bedrooms are about $2,500, and the most expensive penthouse apartment is $6,000.
“It’s a really broad range intentionally so there’s a broad level of access,” Benjamin said.
Benjamin said Two Light’s location and varied rents attract a mix of residents.
“A lot of young professionals, a lot of empty-nesters, not necessarily retirees, executives who work downtown or like to be entertained downtown and want to have an apartment here,” he said.
Downtown living and smaller spaces aren’t for everyone. Some of the two bedroom units cost about $2,600. You’d get about 1,100 square feet. That’s a lot less than a home elsewhere for the same price tag.
“Depending where you’re buying in the city, that’s going to get you about 4,000 to 8,000 square feet depending on where you’re buying,” said Chad Dumas, managing broker for Reece Nichols in Lee’s Summit.
Dumas said Two Light’s lowest rent would equate to the mortgage on a home worth between $250,000 to $300,000.
“Downtown has options there and also where you get into the suburbs like Lee’s Summit, North KC, Overland Park,” Dumas said.
Construction on Three Light is expected to start early next year. The developers will also convert the Midlands Office buildings into apartments that will be affordable to people with low to moderate incomes.