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DEVELOPMENT

The past few years Wichita has seen numerous new complexes enter the market through new construction and through redevelopment of older structures. More than 1,000 proposed units are on the drawing board across Wichita. From 2014 to 2016 an average of 650 units were added per year with a spike in 2017 as over 800 units were added. The trend moving forward seems to be in line with 2018’s 500 units a year pace. The northeast quadrant saw the completion of the 348-unit Cottages at THE FUTURE OF WICHITA’S MULTIFAMILY MARKET

The Cottages at Crestview

Crestview in 2019. The CBD had a few unique projects completed, with the Spaghetti Works building converted to 41 apartments and shipping containers transformed into 8 studio apartments at 430 S. Pattie. Only two projects are currently under construction. Copper Creek at Hampton Lakes is being built in phases, with the first 108 units complete this year, the next 108 expected to be finished in 2020 and the same amount slated for 2021 or beyond.

NEW UNITS ADDED TO THE MARKET BY YEAR

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347

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95% The Gentry Apartments near Wichita State University, an 84-unit project in two buildings along 17th Street, broke ground in late July. Plans were announced for another project, the 150-unit University Gardens Apartments, which will be located at the northeast corner of 21st & Oliver. A number of proposed projects would add an additional 1,019 units to the market. One of the largest proposed is the 204-unit Delano Catalyst project, slated for the area northwest of Douglas & McLean. The project also includes a hotel and 10,000 square feet of commercial space. The original project had an October 2020 deadline, but recently the city council moved the deadline to June 2021. The Ridge Pointe development has yet to begin construction. The project would create a 132- unit community consisting of two- and three-bedroom residences. Ridge Pointe will be located along Ridge Road between 37th Street and Highway K-96. Development activity in Wichita is slowing somewhat after a busy few years, particularly in the CBD. It is likely fewer than 350 units will be added in 2020. However, a number of projects have been announced and are in the planning stages in the CBD, northeast and northwest quadrants, so development has the potential to pick back up in the near future. 95% 94% 94% 93% 93% 92%

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