Realtor checks need for downtown digs

Realtor Bob Walters believes many people agree with his assessment that downtown Columbia lacks adequate housing, and he hopes they share his vision of a skyline dotted with new four-story buildings featuring loft apartments on the upper floors and businesses in the bottom floors.

“The only things we lack downtown are a full grocery store and housing,” Walters said. “There are many people besides me that have a gut feeling that building more downtown housing is the right thing to do, but when it comes to a lot of money, it takes more than a gut feeling.”

So Walters put his money where his mouse is and started a Web-based survey project. By conducting an online survey, architectural research and focus groups, he is collecting data that will help determine whether constructing the lofts would be a success or a mess.

“I’m not going to disclose the data, but I’m very pleased thus far with the response,” Walters said. “This was the first step.”

The survey, at www.columbialofts.net, will help gauge Columbians’ interest in owning lofts downtown and will garner feedback on what types of lofts people would prefer to see built. The survey also displays a map divided into three sections and asks respondents to list their order of preference for potential loft locations. Noting that downtown lofts or condos are likely to cost more than $200 per square foot, it asks what loft size would best fit respondents’ needs.

“I lived downtown my senior year of college at MU and loved it; I didn’t even have a car,” said Walters, who attended college in the mid-1970s. “I have also noticed that we have a lot less downtown housing than most college towns.”

Most students would have to dip pretty deep into their beer budgets to help pay for the kind hip habitat Walters is proposing.

But the survey points out that parents of university students often purchase residential properties for their children to use while attending school in Columbia, and it asks respondents whether they might consider purchasing lofts that include both tenant-occupied units and owner-occupied units.

MU graduate student Corey Woodard said, “Downtown is already a busy area, so with the canopy removal and other development, more people are going to want to live here. And I believe that there is a niche in this town for recent grads and graduate students who want nicer apartments.” As a manager at The Pasta Factory downtown, Woodard himself would benefit from living in the lofts.

Walters also anticipates that potential buyers will fall into the empty nester, young professionals and ol’ Mizzou crew categories.

“In other college towns, alumni have been a large market,” said Walters. “I am an alumnus, and I can imagine other alums would like to own a loft here to stay at for a weekend during game time or rent out to students.”
Walters hopes to obtain enough feedback by the end of October to merit loft construction and plans for residents to start moving in within two years.