<html><head></head><body><div class="ydp573cee41yahoo-style-wrap" style="font-family: Helvetica Neue, Helvetica, Arial, sans-serif; font-size: 13px;"><div><div>Gary and the LAN group -</div><div><br></div><div>I am sorry that I am too busy with University budget problems to be as involved with LAN issues as I would like to be.</div><div><br></div><div>Let me suggest a very important issue that needs to be addressed with this redevelopment.</div><div><br></div><div>KU's population is not growing. It is flat, and an increasing number of our students are commuting from the Kansas City area. Thus, the resident student rental population is growing smaller, not larger. Given the demographics of the State of Kansas, it is very likely that the total enrollment at KU will go down marginally in the future. If the student rental population is flat or growing smaller and if Foxtail builds for 300 students, then it is likely that the new space will be filled, not with new growth in demand, but by taking students away from existing rental properties in the community. The planning question for the community is, which properties will lose the 300 students and will those losses cause a loss in value, a loss in maintenance and a deterioration in condition?</div><div><br></div><div>In general, Lawrence should seek to have its housing stock grow in close correspondence with the the growth of its households. If the stock grows too fast, older properties suffer, lose value, and neighborhoods deteriorate. If the stock grows too slowly, households cannot find the housing that they need when the need to move and prices are pushed up. </div><div><br></div><div>Right now, the housing market in Lawrence is pretty well balanced. The vacancy rate among owner-occupied homes if 1.9% with is very close to the ideal of 2.0%. The vacancy rate among renter-occupied units is 6.5% with is within the desired range of 5% to 7%. </div><div><br></div><div>So we have a problem. We would like to see new growth that expands the stock by replacing older properties with new properties, but the pace of growth is critical. The City stumbled a few years ago by subsidizing the HERE project when the project was not needed and the subsidy was not necessary. We have a proposal for a similar project at 11th and Massachusetts. It is doubtful that the market can absorb both projects. It is doubtful that subsidy will be sought for the project on 23rd Street, but it is being sought for the downtown project. Will the City be smart enough to pace the growth in units to match the growth in rental households? The City has not shown this discipline in the past. Will the City be smart enough to only provide subsidy where it is critically needed? The City has not shown this discipline in the past.</div><div><br></div><div>Foxtail will tell us that their project is critically needed. It is not. The downtown project will tell us that their project is critical to restoring the downtown. It could be helpful, but it is not critical. The scale suggested for the downtown project is too large and the subsidy costs to the taxpayers are too great.</div><div><br></div><div>It will take skillful planning to figure out how to deal with both of these projects (and any others that show up within the next few years), to keep the pace of growth within a supportable range, and protect the long-term interests of the taxpayers.</div><div><br></div><div>I hope that this helps.</div><div><br></div><div>All the best,</div><div>Kirk</div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div class="ydp573cee41signature"><div>Kirk and Jeannie McClure</div><div>707 Tennessee Street</div><div>Lawrence, Kansas 66044.2369</div><div>785.842.8968</div><div>mcclurefamily@sbcglobal.net<br><br><br></div></div></div>
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On Sunday, February 24, 2019, 7:18:31 PM CST, Gary Webber via Electronic-lan <electronic-lan@lists.ku.edu> wrote:
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Dear LAN listserve members,<br>
The group behind a mixed-use apartment/retail development on 23rd
Street just west of Natural Grocers has reached out to us and would
like to help us understand their project and give us a chance to
comment. Patrick Watkins with <a href="https://livewelllawrence.us4.list-manage.com/track/click?u=d8f1d62c09b5db34590f34b0a&id=edbfbe29f1&e=2b79d39a08" style="color:#007C89;font-weight:normal;text-decoration:underline;" rel="nofollow" target="_blank">Foxtail Real Estate</a> is representing <a href="https://livewelllawrence.us4.list-manage.com/track/click?u=d8f1d62c09b5db34590f34b0a&id=8334a0e2a2&e=2b79d39a08" style="color:#007C89;font-weight:normal;text-decoration:underline;" rel="nofollow" target="_blank">The OPUS Group</a>, a Minneapolis development group..
He is hopeful that one or two of the project managers will attend,
but if not he will lead the meeting. The OPUS Group is
headquartered in Minneapolis, but also has an office in Kansas
City. <a href="https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww2.ljworld.com%2Fweblogs%2Ftown_talk%2F2019%2Fjan%2F25%2Fmultistory-apartment-and-retail-building-planned-for-23rd-street-shopping-center-to-be-razed%2F&data=02%7C01%7Celectronic-lan%40lists.ku.edu%7C539adb2330274bd50c4f08d69b30d821%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636867031418850105&sdata=GneNsknCZDfF2SX6LYyUAJ%2BBZrP4Gbh7qnj9UUOsjxE%3D&reserved=0" originalSrc="http://www2.ljworld.com/weblogs/town_talk/2019/jan/25/multistory-apartment-and-retail-building-planned-for-23rd-street-shopping-center-to-be-razed/" shash="cr61RucZJsiEgu2OvoildF29fsFYzyBHB2lMg4W62TT2DfVl33qiGD5Ru5dDGoUbHA+9jOoler5XO5AorE/UD4n+FTwZghe6UgLlCAlldW0AowPUnRTdf4Jd5o9G8hHnxLp36d8YSI7L2hR4maEXtA9+bwxg4UB4YwwE0Mo2vn4=" rel="nofollow" target="_blank">Here
is a Town Talk article about the project.</a> Here is Patrick's
introduction of the project:<br>
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<em>We have introduced a mixed-use student housing project just to
the west of Natural Grocers near the 23rd and Naismith
intersection. The building will have around 300 beds and over
8,000 square feet of new retail space, along with a range of
amenities for the residents and patrons. It's the first
development project to utilize the City's Smart Code, which
emphasizes mixed uses, integration with multi-modal
transportation, and a more traditional neighborhood design. With
the bus stop, trail system, and evolving 23rd Street Corridor, we
think this alternate code makes for a nice fit on this property.
We think this project will make a meaningful contribution to
having a physically active demographic along this corridor - and
would certainly appreciate your support.</em><br>
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This is the first time that the City has used its SMART code for a
development project.<strong> We will meet with Patrick at 4:00 p.m.
on Wednesday, February 27, in Meeting Room A of the Public
Library.</strong> I hope you will be able to attend!<br>
Best,<br>
Gary Webber<br>
LAN Secretary<br>
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</div>_______________________________________________<br>Electronic-lan mailing list<br><a href="mailto:Electronic-lan@lists.ku.edu" rel="nofollow" target="_blank">Electronic-lan@lists.ku.edu</a><br><a href="https://lists.ku.edu/listinfo/electronic-lan" rel="nofollow" target="_blank">https://lists.ku.edu/listinfo/electronic-lan</a><br></div>
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