OFFICIAL - Power & Light Apartments

FangKC · Post by **FangKC** » Sat Jan 30, 2016 9:39 pm

It is hard to sell condos in a new development, or even an apartment-to-condo conversion, because of mortgage lending requirements where a mortgage for a single condo purchase can only be approved after 50 percent of the units are sold. This means you can't get a loan until 50 percent of the units in development are pre-sold, before banks will loan people money to buy the rest. This means that the development needs a lot of full cash buyers without mortgages to buy units before people who require financing can get loans. This places a huge burden on the developer of condos--unless it's a wealthier real estate market where demand for shared housing is very high.

The larger the development, the more units to pre-sell without mortgages.

FangKC · Post by **FangKC** » Sun Jan 31, 2016 7:44 pm

Not that I know of. I think they tore down that old garage building so that the two parcels could be assembled into a larger, and more marketable development site. They would need both sites to build a large enough parking structure for any new building on the sites.

KCLover · Post by **KCLover** » Mon Feb 01, 2016 8:27 pm

They have some interesting red lighting on the P&L building tonight.

Post by **hgascoigne** » Mon Feb 01, 2016 9:05 pm

KCLover wrote:They have some interesting red lighting on the P&L building tonight.

KCPowercat · Post by **KCPowercat** » Mon Feb 01, 2016 9:35 pm

Thanks for the shot....this weekend the inside of the lantern was blue.

mister816 · Post by **mister816** » Tue Feb 02, 2016 12:31 am

The framing for the apartments is going up.

swid · Post by **swid** » Thu Feb 25, 2016 7:24 pm

I was talking to someone at the downtown neighborhood association meeting tonight who mentioned that move-ins will start in May or June (generally from the top down) and run through the rest of the year, with the new building opening up in early 2017.

Highlander · Post by **Highlander** » Thu Feb 25, 2016 10:04 pm

swid wrote:I was talking to someone at the downtown neighborhood association meeting tonight who mentioned that move-ins will start in May or June (generally from the top down) and run through the rest of the year, with the new building opening up in early 2017.

Seems very soon considering there was practically nothing there when I was in KC at Christmas. I was a bit disappointed to see the wood construction of the apartments in the north building but it looks as if that is mostly a parking garage with only a veneer of apartments around it. Great if you are not into having people living on all sides of you.

flyingember · Post by **flyingember** » Fri Feb 26, 2016 12:07 pm

Highlander wrote:
swid wrote:I was talking to someone at the downtown neighborhood association meeting tonight who mentioned that move-ins will start in May or June (generally from the top down) and run through the rest of the year, with the new building opening up in early 2017.
Seems very soon considering there was practically nothing there when I was in KC at Christmas. I was a bit disappointed to see the wood construction of the apartments in the north building but it looks as if that is mostly a parking garage with only a veneer of apartments around it. Great if you are not into having people living on all sides of you.

The top will have a pool and units overlooking it too.

The key thing to remember is the garage is also for next door. Having a large garage was inevitable as a result. Having it wrapped so it's mostly hidden is way nicer than it could have been.

hartliss · Post by **hartliss** » Wed Mar 02, 2016 3:11 pm

earthling · Post by **earthling** » Wed Mar 02, 2016 3:41 pm

So nice to see infill of lots but a little disappointing to see pattern of concrete for only lower floor, wood construction for upper floors, especially in center of downtown.

pash · Post by **pash** » Wed Mar 02, 2016 4:57 pm

flyingember · Post by **flyingember** » Wed Mar 02, 2016 9:32 pm

pash wrote:This isn't the sort of building anybody wants to last.

Agreed. To me this looked like fill in to make some money out of the parking garage structure. When land values and rents appreciate, and people demand less parking it will be easy to tear it out for something more substantial that makes a ton of money but costs too much now.

moderne · Post by **moderne** » Sat Mar 05, 2016 12:03 pm

Gaudy, nothing like the original historic lighting. More Dubai than Deco.

AllThingsKC · Post by **AllThingsKC** » Sat Mar 05, 2016 2:09 pm

Not the best shot, but this is what I got from a distance....

missingkc · Post by **missingkc** » Sat Mar 05, 2016 3:43 pm

A few nice photos on Flickr by jasoncdoss1

KCTOGA · Post by **KCTOGA** » Sat Mar 05, 2016 9:50 pm

need more buildings lit up like this downtown.

joshmv · Post by **joshmv** » Sun Mar 06, 2016 12:19 am

missingkc wrote:A few nice photos on Flickr by jasoncdoss1

flyingember · Post by **flyingember** » Sun Mar 06, 2016 4:37 pm

It's crazy visible from 71. Saw it last night at around 8:15.

Highlander · Post by **Highlander** » Sun Mar 06, 2016 6:23 pm

joshmv wrote:
missingkc wrote:A few nice photos on Flickr by jasoncdoss1

Looks kind of evil - like something from the LOTR.

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