Another new housing development in the River Market?

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KCLofts
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Another new housing development in the River Market?

Post by KCLofts »

From the Business Journal (http://kansascity.bizjournals.com/kansa ... ily15.html):
MTSI land might sell for housing development

More housing could come to the River Market on land now used by Metropolitan Transportation Services Inc.'s taxi and limousine fleet.

James Malouff, a broker for the seller of the parcel at Fifth and Locust streets, said he expects Coach USA to close its sale in October. Malouff declined to identify the prospective buyer.

Interests tied to BBL Real Estate Services Group, the leading loft developer in the River Market, are thought to be involved. BBL's projects include Conover Place, a 32-unit condominium that opened last year, as well as several for-rent apartment buildings.

BBL partner George Birt declined to comment on the prospective deal.

Plans call for the taxi operation to move next year to 13th Street and Lydia Avenue. About 150 people now work for MTSI in the River Market.

Property taxes on the $1.7 million construction project at 13th and Lydia will be fully abated for 10 years and cut in half for an additional 15 years through a plan the Planned Industrial Expansion Authority approved Sept. 12.

© 2003 American City Business Journals Inc.
Assuming this includes all of the land that MTSI is currently using, including their storage lots, this equates to about 2 full city blocks. That's a pretty sizable chunk of land. I would also assume that the Conoco station on 5th ST would eventually be bought out. If this deal goes through, perhaps it will spur further development of the old Pisciotta Fruits & Vegetables building just south of this location. How about a grocery store?

While I think this is encouraging news for the River Market, I wonder what effect this will have on BBL's plans for the development of River Market West. They have a 10-year development plan for the area bounded by 5th ST, the river, Wyandotte and Broadway. They rehabbed the Richards & Conover lofts, built Conover Place, and plan to break ground on the New Chelsea/HOK Sport building late this year and the Lighthouse Lofts early next year.
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tat2kc
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Another new housing development in the River Market?

Post by tat2kc »

the more housing the better!
Are you sure we're talking about the same God here, because yours sounds kind of like a dick.
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FangKC
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Yay!

Post by FangKC »

Yay! More housing.
There is no fifth destination.
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