Fed will sell headquarters to Townsend
- KansasCityCraka
- Oak Tower
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Fed will sell headquarters to Townsend
Fed will sell headquarters to Townsend
The Federal Reserve Bank of Kansas City said Tuesday that it has an agreement to sell its downtown headquarters facility to Townsend LLC.
The Fed did not disclose terms of the sale, other than to say that it includes an agreement that will allow it to lease back the space until its new headquarters is completed. Sources told The Business Journal in January that Townsend beat out eight other bidders by offering to pay more than the $10.8 million asking price.
The headquarters building at 925 Grand Blvd. and surrounding property, including a parking garage, were listed for sale in mid-2004. Townsend previously has described a mixed-use plan for the headquarters building, with apartments and offices above street-level retail space.
Townsend is converting another downtown office tower, at 1101 Walnut St., into condominiums.
The Fed said Tuesday that construction is scheduled to begin later this year on its new 600,000-square-foot headquarters at 29th and Main streets. The headquarters is expected to be completed in mid-2008.
The Federal Reserve Bank of Kansas City said Tuesday that it has an agreement to sell its downtown headquarters facility to Townsend LLC.
The Fed did not disclose terms of the sale, other than to say that it includes an agreement that will allow it to lease back the space until its new headquarters is completed. Sources told The Business Journal in January that Townsend beat out eight other bidders by offering to pay more than the $10.8 million asking price.
The headquarters building at 925 Grand Blvd. and surrounding property, including a parking garage, were listed for sale in mid-2004. Townsend previously has described a mixed-use plan for the headquarters building, with apartments and offices above street-level retail space.
Townsend is converting another downtown office tower, at 1101 Walnut St., into condominiums.
The Fed said Tuesday that construction is scheduled to begin later this year on its new 600,000-square-foot headquarters at 29th and Main streets. The headquarters is expected to be completed in mid-2008.
- Gladstoner
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Fed will sell headquarters to Townsend
Hopefully they can redo the gawdawful north facade and cut out some windows.
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- thedream
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Fed will sell headquarters to Townsend
Anyone realize he got a hell of a deal espically since One Park Place is asking $10 million for the entire top floor. So for 2 million more he got 20 other floors and every other building in that square block.
- staubio
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Fed will sell headquarters to Townsend
...and an existing lease paying tenant for the time being. Awesome deal.thedream wrote:Anyone realize he got a hell of a deal espically since One Park Place is asking $10 million for the entire top floor. So for 2 million more he got 20 other floors and every other building in that square block.
- KCK
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Fed will sell headquarters to Townsend
This is an absolutely beautiful building and I am sure that any condos there will demand a premium.
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- GRID
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Fed will sell headquarters to Townsend
Yes it is, too bad they tore down the building to the south of it and put in a parking lot though.DeadManWalking wrote:This is an absolutely beautiful building and I am sure that any condos there will demand a premium.
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- Oak Tower
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Fed will sell headquarters to Townsend
The building was the Lathrop Bldng and it was already restored in the early '80's.
- KCK
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Fed will sell headquarters to Townsend
Perhaps ideas for the redevelopment of that parking lot are already floating around. If not, let's think of some. How about ground level retail with a parking garage above it for condo dwellers/retail tenants?
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- Oak Tower
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Re: Fed will sell headquarters to Townsend
Development wil be called "The Reserve" and will have an uniquie amenity---a shooting gallery!
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Re: Fed will sell headquarters to Townsend
I believe the Fed already has a rather sizable gargage to the east.KCK wrote: Perhaps ideas for the redevelopment of that parking lot are already floating around. If not, let's think of some. How about ground level retail with a parking garage above it for condo dwellers/retail tenants?
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- Colonnade
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Re: Fed will sell headquarters to Townsend
If Townsend could buy the lot next to the old Fed, he might be able to pull of that "signature" building for KC. I could envison a twin tower complex(extended stay hotel/condo/apartment/retail structure). The renovated Fed building and a new contemporary structure next to it. Put the parking on street and or below the structures.
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- Oak Tower
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Re: Fed will sell headquarters to Townsend
Are all former feds converted to condos called the same? Check out LA's branch---www.reservelofts.com
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Re: Fed will sell headquarters to Townsend
moderne wrote: Â Â Development wil be called "The Reserve"
uggh . . . I think the names of these developments are so lame.
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- Colonnade
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Re: Fed will sell headquarters to Townsend
Who the frick cares what its named? Really, what does that matter?
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- Alameda Tower
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Re: Fed will sell headquarters to Townsend
macnw wrote: Who the frick cares what its named? Really, what does that matter?
It's not a big deal, I'm just saying I think they're all lame. Can I just make a random comment? Take a pill.
- ComandanteCero
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Re: Fed will sell headquarters to Townsend
hehe, yeah that name does sound generic. They were talking about how lame project names have become in recent years on one of the other boards (even though i think for the most part 90% of project names have always been pretty lame). They decided something like anything that has "village", "rennaisance", or some acronym that tries to ape "SOHO", is automatically stupid. I guess this isn't too bad compared to those, but still
KC Region is all part of the same animal regardless of state and county lines.
Think on the Regional scale.
Think on the Regional scale.
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- Colonnade
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Re: Fed will sell headquarters to Townsend
Bitch, bitch, bitch. I don't like the building design, I don't like the color, I don't like the street level design, too much parking, too tall, too short, poor planning and now I don't like the name!!!!!!!! How about this is what I like for a change. Way too much negative sentiment on this site
- Tosspot
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Re: Fed will sell headquarters to Townsend
The alternative you imply is to take the stance of the proverbial flat-headed bliss ninny, which is even less desireable.macnw wrote: Bitch, bitch, bitch. I don't like the building design, I don't like the color, I don't like the street level design, too much parking, too tall, too short, poor planning and now I don't like the name!!!!!!!! How about this is what I like for a change. Way too much negative sentiment on this site
photoblog.
until further notice i will routinely point out spelling errors committed by any here whom i frequently do battle wit
- ComandanteCero
- One Park Place
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Re: Fed will sell headquarters to Townsend
KC Region is all part of the same animal regardless of state and county lines.
Think on the Regional scale.
Think on the Regional scale.
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- Colonnade
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Re: Fed will sell headquarters to Townsend
No. Optimism. A foreign word to most on this forum.