Two Light - 14th & Grand

[hgascoigne]

travis kelce? the guy on the top floor of wall street towers, so he can choose which view of 1201 walnut he prefers on any given day?

He actually lives on the top floor of One Light, but yes, that price is a little ridiculous for this market.

[wahoowa]

right, listed those as two different people — [kelce] & [guy on top of WST].

i'll throw in the current owners of 909 walnut's penthouse in the mix, so now we're all the way up to three.

[KCPowercat]

909 was purchased though.

[kboish]

I believe 2 light is already 10% leased. My guess would be that all of the penthouse floors are already leased.

[flyingember]

here's a rendering of the double-story living room if you're willing to click around, make a fake account, etc.: https://twolightkc.com/360-tours/

Unit 2401 is a double high

[ThorsteinVeblen]

I actually think a business owner will rent the penthouse and write the rent off as a business expense. I've noted this before but a lot of the high end rentals coming on the market downtown are being picked up as executive style living for out of town employees and management.

[kcjak]

Agree with the business expense write off - just under $200/night for a two bedroom with parking and great location seems doable.

So that makes me wonder how it might work with a possible Three Light or Four Light apartment/hotel combination where a renters have access to hotel and concierge services. If a hotel were to go for $200/night at a W, and a one-bedroom apartment leased for $1,500/mo (avg $50/night), what are the chances that a lot of people rent in the building only to turn around and Air BNB it for less than the hotel's nightly rate?

[flyingember]

A past job I was at the owner owned a condo with plaza views and they used it investors. It had a huge flatscreen, the fastest internet they could get, a great furniture setup, they could custom stock the kitchen for dietary needs/preferences, etc. It was quite nice, I helped setup the Internet service in it. I always figured that for a place with 7-8 figure deals over and over buying or leasing a unit looks really cheap for the value.

There's also side aspects for investor relations. Imagine the same place owns a suite in Sprint Center. They can fly a big investor in who loves team X and they're in the final for Big 12 and not have to worry about where the hotel room will be.

[wahoowa]

business expense theory makes a ton of sense. and if that's the intended/expected use, that's pretty cool.

on the hybrid apartment/hotel issue — interesting question. some back of the napkin math makes it look like you would have to hit something like 40-60% occupancy throughout a year depending on how close to the hotel cost you priced, just to break even on rent + parking + utilities + internet [and maybe throwing in a bit for one-time set up costs, like furnishing]. that level of annual occupancy would probably involve a not-insignificant amount of additional expenses of either time or money for administrative and cleaning tasks. so it seems to me like there's not a huge risk that many people will aggressively do this as a matter of course. but, variations in rent and administrative costs could definitely drive a different conclusion in some cases.

of course, they could also just add a clause to your lease that makes it a default of your lease to do any of this, and it probably wouldn't be too hard to police it on the sites big enough to drive significant traffic.

[aknowledgeableperson]

Of course this is the suburbs but New theater Restaurant owns a house in OP that is used to house it's stars.

[LCDSI]

any recent pics of the tower construction progress?

[miz.jordan17]

any recent pics of the tower construction progress?

[LCDSI]

thanks miz.jordan17

[KCTOGA]

Thanks a lot. Could those a little closer to the project keep some of us that are not informed, with picture updates every couple floors or so. It"s very appreciated.

[hgascoigne]

Progress has been pretty slow over the last month. They're taking their sweet time with the amenity level, and the holidays and cold temperatures didn't help.

Another view from Truman Rd:

[KCTOGA]

It is Appreciated. Thank you

[flyingember]

That's what I saw on the 6th, they just moved up a floor on the west end.

So from the lowest end they're working on floor 9.

The current long row of decoration is the start of 3 for easy counting.

[Midtownkid]

Looks like they are creating store fronts along Truman with a canopy at the corner of Walnut and Truman.

The glass looks different from the One Light glass, too.

[KC_JAYHAWK]

Also appears to me that the floor plates look taller than One Lights? Maybe I'm wrong and it's just a matter of perception.

[miz.jordan17]

Looks like they are creating store fronts along Truman with a canopy at the corner of Walnut and Truman.

The glass looks different from the One Light glass, too.

Does it look like a more blueish-green color like on their website? Maybe that will be be how they make the buildings stand out from one another.