OFFICIAL - East Village

[missingkc]

beautyfromashes:

Business Journal, 11/20/2005

"But Al Figuly, executive director of Kansas City's Planned Industrial Expansion Authority, said there's a simple reason the Swope-Sherman bid has fueled no protests from the local development industry: No other firms responded to the PIEA's recent request for East Loop redevelopment proposals."

11 years ago. Needless to say, downtown is a different development environment today and you have to wonder what sort of response the city might get if the project were reopened.

[beautyfromashes]

Is it possible to reopen and is that the plan?

[missingkc]

The most recent article in the business journal I see is from 7/31/15.

VanTrust agreed nearly two years ago to co-develop East Village, a mixed-use development conceived of a decade ago for eight blighted blocks on Downtown’s east side.
“We’re now on (redevelopment) version No. 44, or whatever it is,” Harrison said. “But we’re advancing the ball toward figuring out exactly what that thing looks like.”

East Village would be one of those developments that Harrison terms “long-gestation projects.”

So, as of that point, it doesn't sound like they were planning on ditching it. Maybe they're trying to line up a commitment to office space.

[FangKC]

East Village developers remain at drawing board as TIF expires

When VanTrust Real Estate LLC agreed to join Swope Community Builders as co-developer of its stalled $350 million East Village redevelopment project three years ago, it looked like the east side of the downtown loop was finally going to get its long-awaited share of revitalization.

Since then, however, little has happened with the project beyond the ticking of its tax increment financing clock. And now that has stopped.

...

The apartment project, now fully occupied with a waiting list, was completed in 2011, two years before VanTrust, one of the area’s most prolific and deep-pocketed development firms, agreed to come on board.

...

“Our approach and VanTrust’s approach is to be very thorough in our work. So we’re taking a long-term view of what is best for development in that area. We’re not anxious to start a project for the sake of starting a project.”

Chaudry said he couldn’t predict when the development partners might have a plan to move forward with, and Harrison wasn’t immediately available for comment.

http://www.bizjournals.com/kansascity/n ... rd-as.html

[FangKC]

The East Village Apartments are fully rented and there is a waiting list. Still, no dirt is being moved to construct more. Projects, in other parts of downtown, that weren't even announced three years ago are framed in and the exteriors are taking shape.

This neighborhood had the potential to be such a big game-changer for downtown, and so little has been accomplished. Perhaps it's time to boot Swope as primary developer. They are in over their heads.

[DaveKCMO]

break the area up for smaller developments!

[Pork Chop]

This neighborhood had the potential to be such a big game-changer for downtown, and so little has been accomplished. Perhaps it's time to boot Swope as primary developer. They are in over their heads.

break the area up for smaller developments!

I agree with you both. I have a condo nearby and I have been waiting for around 9 years for this project to start. The city should follow PortKC's lead and do exactly what Dave just stated, parcel out the land to many developers.

[smh]

Break it up so multiple developers can work in the area--but act to ensure they follow the concept outlined by BNIM so many years ago.

[KCDowntown]

There's a line item on next week's TIF meeting to terminate the development agreement with Swope Community Builders.

KCDowntown

[FangKC]

Finally.

[DaveKCMO]

[Pork Chop]

Yes!

[smh]

Do we know what will that mean going forward?

[JLowe2018]

Does this mean the project is under full control of VanTrust from here on?

[smh]

Does this mean the project is under full control of VanTrust from here on?

This is what I'm also wondering. Or are we, possibly, headed towards a scenario where the city might parcel out to different developers rather than one master developer?

[flyingember]

I would like to see the city charge for the land inverse to the amount of property taxes gained (with some ceiling where everything above is $0) and let the market decide. Let entities come in and present their plans at the scale they feel is appropriate and they can get free land if coming in big enough.

If this is one single entity that's great, if it's multiple fine. The idea is to maximize the value to the city and not worry about who builds.

[FangKC]

Whatever is done, I hope that the City insists on higher density. The East Village Apartments is not a good example of future land use for that area --meaning one residential building taking up a quarter of an entire city block, and the rest devoted to parking.

I also don't want to see another land use similar to what is happening in Columbus Park.

[JBmidtown]

How many of those surface parking lots are parcels in that development deal?

[kboish]

I don't think the city has actually assembled all of the parcels yet. Its just a plan at this point.

[flyingember]

The city owns 3.5 blocks and one they use for city court parking today. There's half a dozen different owners.