A new development called Toy Vaults is planning a 34-condo project in the KCI industrial park.
A listing from randyswope.com gives unit sizes: standard units range from 1,428 to 1,495 square feet, while four XL units offer 2,036 to 2,062 square feet. The project was also covered by The Business Journals, which reported a 34-condo project in the KCI industrial park.
How Toy Vaults Stacks Up Against Other Garage-Condo Projects
Garage-condo developments have been popping up around the Kansas City area for more than a decade. Carriage Houses started selling garages in 2011, per a 2016 report from kansascity.com, and by the time that article published, 75 Carriage House units in De Soto, Kansas, had been completed, sold and occupied. That same report described Carriage Houses of Johnson County as one of the area's first and largest car-condo developments, with prices starting in the low $30,000s for a one-car unit back then.
Other comparisons from that 2016 reporting show just how wide the price range can get for this kind of real estate. StoneGate Motorplaza listed garage prices starting at $134,000 on its website, while a garage unit at AutoMotorPlex outside Minneapolis could run as high as $300,000, the kansascity.com article noted.
Closer to home and closer in timing, a much larger project is also underway. The Foundry, a $28 million development in Leawood, was targeting a November groundbreaking on 88 units, according to bizjournals.com, which described the project as home to “88 deluxe man caves/she-sheds.” Foundry Luxury Lifestyle Garages had planned a fall work start in Leawood, per the same report.
A Market Where Asking Prices Can Be Hard to Pin Down
OnlyGarageCondos, which says its national database tracks more than 640 garage-condo developments, notes that its figures reflect asking prices in bands rather than closed-sale prices, according to its own market-data page, with that state-level data listed as current as of November 5.
The market data presents asking prices in bands rather than as closed-sale prices. Toy Vaults is planned as a two-building, 34-unit project.
