Those who want to live in one of downtown’s most popular neighborhoods may be surprised to discover that they can own a newly renovated condominium at Quality Hill Square for a monthly mortgage payment that is less than rent, said Matt Zammar, who markets the community for the Coldwell Banker John Moffitt Urban Living Center.

Leases for downtown lofts and condos have become more costly and rare, which makes owning a new condominium at Quality Hill Square much more affordable in comparison, Zammar said. And homeowners have the advantage of building equity with every mortgage payment.

Buyers at Quality Hill Square may choose either a one-bedroom floor plan starting at $86,900 or a two-bedroom plan starting at $96,900. Not only is the price affordable for such a prime downtown location, but $3,000 to assist with the down payment and closing costs is available to the first owner/occupant of each home at Quality Hill Square through a buyers assistance grant from the Land Clearance for Redevelopment Authority of Kansas City. A special financing package was created by Gorman & Gorman Residential Mortgage Services Inc. that allows buyers to purchase with as little as 5 percent down.

Low interest rates also add to the affordability and the result is a monthly payment, including taxes and homeowners association dues, that for qualified buyers can be as low as $674.67 for a one-bedroom condo and $778.67 for a two-bedroom condo. Special terms apply and buyers should consult with Zammar about the terms.

Quality Hill Square is an income-restricted development, but has generous income limits of $39,840 for one person or $45,520 for two people.

Quality Hill Square comprises seven three-story brick buildings. Three are on Ninth Street, just east of Broadway, and four face Washington Street in the Quality Hill neighborhood that is known for its quaint architecture, brick buildings and established trees.

These newly renovated buildings house just four condominiums on each floor, so every home has a corner location affording numerous windows and more privacy than a typical condo building.

The prices at Quality Hill Square are affordable, but the developer is not scrimping on features buyers desire, Zammar said. Standard finishes include granite countertops; stainless steel appliances; washer and dryer; ceramic tile in the kitchen, bathroom and laundry room; and carpet in the living room and bedrooms. Buyers have the ability to upgrade to bamboo flooring.

Homebuyers may choose an available condo in any building, allowing them to select the views of downtown that they prefer. They also may select colors and finishes to personalize their home.

Only two buildings offer two-bedroom units and they are selling quickly. The one-bedroom units have an oversize bedroom with enough space for an office or sitting area. Both floor plans offer ample closet space and separate laundry room with full-size washer and dryer. The units all have newer HVAC.

Each condo comes with a parking space and homeowners may find that their car is parked in that space most of the time since they are within walking distance of numerous destinations, including the Power & Light District, Sprint Center, the Kauffman Center for the Performing Arts, River Market and a grocery store. The Quality Hill neighborhood is home to the YMCA and Case Park, and borders numerous restaurants and bars.

Rush hour for many residents means a stroll to a downtown office or business. Those who live at Quality Hill Square but work in outlaying areas have quick access to Interstate 70 and Interstate 35.

Quality Hill Square is tax abated until 2017. The homeowners association dues cover water, trash service, parking, snow removal, building insurance, property management and real estate taxes, something that most HOA dues do not cover.

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