About Us
Our mission is to revitalize and develop properties in the urban core, and to provide quality diverse housing options, and a pathway to home ownership for those who desire it.
Who We Are
Legacy Asset Group, LLC (“Legacy”, “LAG”) is a minority-owned Kansas City based real estate entity focused on making quality housing accessible to a local population.
The firm’s values can be traced to our founders’ decades-long educational, economic, and social history in Kansas City gives it a vested interest in realizing a thriving community.
What We Believe
Affordable housing and quality standards of living are not mutually exclusive in Kansas City.
Real estate ownership is central to attaining and bestowing generational wealth for individuals and families.
Each renovation and development project should be delivered with the highest standards and integrity with a focus on the experience for future residents.
How We Deliver
Find single and multi-unit properties with opportunity for renovation, or land with development potential.
Cultivate partnerships with local Kansas City organizations to provide resources that will create a legacy of homeowners and entrepreneurs.
Offer learning opportunities to inspire generational wealth and create upward mobility for Kansas City residents.
Our Project Philosophies
Provide a Diverse Housing Solution
We present a proven solution to a real-world problem by creating new and diverse housing options for individuals and families across various income levels who can live in a desirable environment in Kansas City’s urban core without sacrificing quality or affordability.
Unite Local Organizations with a Common Mission
We deliberately engage Kansas City businesses and nonprofit groups who share Legacy’s passion for diversified housing and economic development in the urban core, and that will collectively strengthen the City’s economic development prospects.
Provide a Springboard to Home ownership
We establish a pipeline of future homeowners by intentionally providing programs, resources, and tools to individuals and families who live in Legacy’s homes and units and aspire to attain greater generational wealth by transitioning to homeownership in the future.
Drive Gap Development
We lead development projects in abandoned and neglected sections of the City and address the “gap” in quality housing availability for individuals and families who find themselves priced out of more desirable options in the neighborhoods and communities they currently live.
Stabilize Neighborhoods
We create communities of the future by incrementally rebuilding neighborhoods to include a mix of residents of various means, needs, and backgrounds whose collectiveness can blunt the impact of great macro-economic swings to the overall community.
Foster an Ecosystem for Economic Growth
We cultivate communities that are not defined by the wealth levels that invite gentrification, or by the poverty levels that create housing projects. Instead, we will help foster a balance from which the City’s current and future residents may benefit from a gradual and sustained increase in the area’s economic growth and housing values.
Pathway-to-Promise
Addressing the urgent need for affordable housing in the Kansas City metro area requires a dynamic set of solutions to educate and prepare potential homeowners on the virtues and responsibilities of home ownership, and to develop a network of urban developers able to provide an inventory of attainable housing options that can increase the availability of homes to a citizenry that increasingly demands it. Legacy Asset Group's “Pathway to Promise” initiative seeks to address both challenges through a unique two-pronged approach.
Provide diverse housing options for under-served population, and a pathway for ownership and generational wealth-building.
- Provide housing options in single family, or multi-unit arrangement that are accessible to a willing community.
- Partner with community / organizations to equip and educate aspiring homeowners on home ownership readiness.
- Support individuals through home-buying journey with learning and resources needed to establish a foundation for long-term property ownership and generational wealth.
Need
Minimum amount of low-to-moderately priced homes needed in Kansas City, MO by 2023.
Scarcity
Projected decline in affordable housing available in Downtown Kansas City over the next 5 years.
Funding
Public/private financing to partly assist developers to rehab smaller apartment units prevalent in older Kansas City, MO neighborhoods.
Cultivate a class of entrepreneur developers who undertake in small-scale residential and commercial projects that also provide additional living options for local residents and businesses.
- Equip and grow current and aspiring property developers through an incubator model that taps into a rich community of real estate professionals and like minded entrepreneurs.
- Pair incremental developers with resources, tools, and professional services needed to scale-up development projects.
- Promote and prepare development projects for market-readiness with a platform of consumers and occupants to stimulate growth and further development.
Affordability
of people in Kansas City who make less than $35,000 spend more than 30 percent of their income on rent.
Means
Kansas City’s median income is less than the US Median Household income of $55,322. Over 30,000 households have an income of less than $15,000 annually.
Aspirations
of renters want to be homeowners, but over 2/3 of those face barriers to home-ownership: access to a down payments and issues with access to credit.