KCLover wrote:GRID wrote:There really is not a better location in the city for large tower than that spot. It's sad it's a freaking parking lot that might be a small office building in ten years. I honestly don't see Copaken ever doing anything productive with it. Somebody else needs to come in and buy the land and develop it, but KC has not quite reached the point of having major national developers come in and do towers (residential, hotel or office) and there is no corporate presence downtown to help push things along.
As long as we keep losing downtown corporate businesses to Overland Park, there won't be anyone willing to build a spec 35 story building in KC. The only way something like that happens is with a large tenant taking up multi-floors. I guess there is the weird off-chance it could be half hotel, half office with a City Target on the ground floor, but that's probably a pipedream.
You can try the build it and they will come mentality and you might pluck some businesses out of 1KC Place, etc that want trendy new office space, but then that empties existing buildings and creates another issue at which nobody wins.
No. That is probably the strategy we want to go for anyways. For example, KCPL building their own tower would then free up relatively good Class A space in 1KCP. This large amount of space would have modern finishes and be ready to go almost immediately. Then small-mid sized firms would be able to move into that pre finished downtown space. Current downtown firms moving up to nicer new buildings allows other outside firms or smaller downtown firms to move up into the unoccupied space. It's similar To the process of moving up and in that we have seen in the apartment side.
On another note, I think mixes use projects like the one we have seen so far are the best way for us to get new office space. The hotel/apartment/retail portions help to reduce the risk associated with spec office and the income from those portions helps fill gaps until the office space isn't leased out.