Looks like I’m doing a week long series on how real estate, and therefore real estate investing, is affected by the influx or outflow of jobs in a given region. Since I live in Olathe, I’ve been focusing on Olathe and southern Johnson County, Kansas. (Which includes Overland Park and Leawood and maybe some of Lenexa.)
From today’s Business section of the Kansas City Star comes an article by Kevin Collison that states U.S. Bank
is building a 100,000 square-foot facility that will house technical equipment to support this bank’s nationwide operations. The western Olathe site was chosen from 93 possible sites and was chosen for reasons including “competitive utility costs and availability of labor.”
While the contractor building the site will be from Minneapolis they are expected to use as much as 70% local subs . This new business in Olathe should bring at least 80 long term jobs.
From today’s Olathe Neighborhood News section of the Kansas City Star there is an article written by Sarah Benson that talks about the continued growth of the Olathe School District
Here are some choice sentences;
The district is growing at an unprecedented rate.
The district (Olathe) gained 842 students this year, bringing it’s enrollment to 26,385.
Quoting Superintendent Pat All: “We’ve had straight-line growth for 41 years.”
And my favorite paragraph of the article: Olathe’s growth isn’t just because of new subdivisions. All said that student population in older, established neighborhoods is up, too. That’s because of young families with small children are finding affordable housing in older neighborhoods.
As a real estate agent who lives in works in Olathe that last paragraph goes along with what I’m seeing. Do date the older neighborhoods aren’t decaying. In fact, many buyers are buying low and fixing up to build their equity and live closer to where they choose.
As Olathe steams towards the projected goal of 300,000 people by 2050 we are going to see a lot of changes. It will be important to keep our schools healthy as well as our job growth. Olathe, like Overland Park, can be a strong city in it’s own rights. Not just living off of the jobs provided by Kansas City.