On-going downtown development projects

Issues concerning Downtown as described by the Downtown Council. River to 31st Street, I-35 to Bruce R. Watkins.
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Critical_Mass
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Re: On-going downtown development projects

Postby Critical_Mass » Fri Dec 08, 2017 11:59 am

kcjak wrote:
DaveKCMO wrote:
Last week’s auction however, only yielded a high bid of $7.9 million so he pulled the Firestone off the market.


Anyone know the market rate value for this property?


$7.9 million, apparently

flyingember
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Re: On-going downtown development projects

Postby flyingember » Fri Dec 08, 2017 12:05 pm

The parcel at 2001 Grand is assessed based on a value of 2,657,500.

If you ever thought there's a disparity between market rate and the real market, this goes to show it.

scooterj
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Re: On-going downtown development projects

Postby scooterj » Fri Dec 08, 2017 1:15 pm

atticus23 wrote:I find this building to be very handsome. I like the mix of materials; would make great loft space.



Agreed. And if it had been in the hands of literally another other developer (apart from possibly Copaken), it would have been functioning as great loft space for a decade by now.

kcjak
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Re: On-going downtown development projects

Postby kcjak » Fri Dec 08, 2017 3:25 pm

$7.9 million seemed like a decent offer, just wasn't sure. Even though the building is solid, it still needs things like electrical upgrades and there is currently only one non-service elevator that breaks down weekly. Unfortunately, I see him holding on for a while longer.

loftguy
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Re: On-going downtown development projects

Postby loftguy » Fri Dec 08, 2017 5:03 pm

Turning down $7.9 m. is a reflection of the owners underlying disconnect.

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grovester
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Re: On-going downtown development projects

Postby grovester » Fri Dec 08, 2017 5:06 pm

The folks that have been sitting on property the longest will be the last to sell. They have been dreaming of the huge payout for years and they're not about to be disappointed.

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ldai_phs
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Re: On-going downtown development projects

Postby ldai_phs » Fri Dec 08, 2017 6:09 pm

Des Moines has a 33 Story Tower Proposed. STl has multiple 20-35 Story Towers going up. Yet we can't get buildings like this redeveloped in a timely manner.

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FangKC
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Re: On-going downtown development projects

Postby FangKC » Fri Dec 08, 2017 11:16 pm

You can't get them redeveloped if the owner if unwilling to sell at a fair price, and sits on properties for years hoping for some big payday.

shinatoo
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Re: On-going downtown development projects

Postby shinatoo » Sat Dec 09, 2017 9:49 am

That's why we need a land tax or actual value tax like they use in Pennsylvania.
Quocunque Jeceris Stabit

mean
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Re: On-going downtown development projects

Postby mean » Sat Dec 09, 2017 8:09 pm

--bahua, 2003

shinatoo
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Re: On-going downtown development projects

Postby shinatoo » Sun Dec 10, 2017 10:22 am

mean wrote:--bahua, 2003


Correct.
Quocunque Jeceris Stabit

earthling
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Re: On-going downtown development projects

Postby earthling » Wed Jan 10, 2018 12:21 pm

Update: The Yards in W Bottoms, 232 units, mentions some space for retail, breaking ground in March...
https://cityscenekc.com/the-yards-break ... l-project/

More lego utilitarian buildings posing as minimalism. Fine I suppose for this location but it is pretty bland. At least 232 more units and retail, right...
Image

grecobs
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Re: On-going downtown development projects

Postby grecobs » Wed Jan 10, 2018 1:09 pm

This is a big bet on the future of the west bottoms, which has been incredibly slow to develop and lacking any type of retail or new construction.

Yes, this is a pretty bland building, but’s it’s removing a service parking lot, adding 200+ housing units, hopefully increasing essential retail (bank, convenience store, etc.) that the area does not have.

earthling
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Re: On-going downtown development projects

Postby earthling » Wed Jan 10, 2018 1:37 pm

Yeah no complaints for this location but ideally this doesn't establish a pattern for more cinder block looking buildings around downtown. Scattered about OK but ideally not a new norm.


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