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Re: Three Light
Posted: Mon Mar 14, 2016 2:00 pm
by normalthings
earthling wrote:Still hoping 3 Light won't look anything like 2, with very different materials. Someone posted a view from Liberty Memorial with 2 and 3 Light renderings and it looked like a long wall in front of downtown loop.
That rendering I believe was not a final or official one. Just to give the general idea. From the newest rendering it looks like Three Light will be around 30 floors.
Re: Three Light
Posted: Mon Mar 14, 2016 2:02 pm
by earthling
Even so, different materials would break up monotony moreso. Different heights would help but it still looks like essentially same design.
Re: Three Light
Posted: Mon Mar 14, 2016 3:04 pm
by KCPowercat
ldai_phs wrote:earthling wrote:Still hoping 3 Light won't look anything like 2, with very different materials. Someone posted a view from Liberty Memorial with 2 and 3 Light renderings and it looked like a long wall in front of downtown loop.
That rendering I believe was not a final or official one. Just to give the general idea. From the newest rendering it looks like Three Light will be around 30 floors.
While not official, cordish has a history of even the earliest renderings looking very close to the final... For example the neon cowboy portrait at KC live was in the very first rendering.
Re: Three Light
Posted: Mon Mar 14, 2016 3:40 pm
by normalthings
KCPowercat wrote:ldai_phs wrote:earthling wrote:Still hoping 3 Light won't look anything like 2, with very different materials. Someone posted a view from Liberty Memorial with 2 and 3 Light renderings and it looked like a long wall in front of downtown loop.
That rendering I believe was not a final or official one. Just to give the general idea. From the newest rendering it looks like Three Light will be around 30 floors.
While not official, cordish has a history of even the earliest renderings looking very close to the final... For example the neon cowboy portrait at KC live was in the very first rendering.
I thought the image referenced is the one made by a eager from the point of view from he liberty Memorial
Re: Three Light
Posted: Mon Mar 14, 2016 4:48 pm
by chingon
earthling wrote:Still hoping 3 Light won't look anything like 2, with very different materials. Someone posted a view from Liberty Memorial with 2 and 3 Light renderings and it looked like a long wall in front of downtown loop.
I don't think these buildings are architectural marvels, but I don't really get the concern with 3 or four similar and clearly sibling buildings in a row...ever looked south from the plaza across brush creek?
Re: Three Light
Posted: Mon Mar 14, 2016 6:27 pm
by moderne
That is not Three Light in the background of the renderings, as Three Light will be on the Mainstreet Theater block according to the developer.
Re: Three Light
Posted: Mon Mar 14, 2016 7:20 pm
by flyingember
moderne wrote:That is not Three Light in the background of the renderings, as Three Light will be on the Mainstreet Theater block according to the developer.
The main street theatre block is the 1400 block of Main. It's based on the entrance of the theatre.
So three light will have its entrance on Main right next to the train stop
Re: Three Light
Posted: Tue Mar 15, 2016 3:04 pm
by joshmv
http://www.kansascity.com/news/business ... 69357.html
Cordish started the clock on Three Light and affirmed its interest in a fourth downtown residential tower for its popular entertainment district.
“The plan is to start Three before we finish Two,” said Nick Benjamin, executive director of the Cordish Co.’s Power & Light District.
Benjamin said the sites for Cordish’s Three and Four Light towers will be the surface parking lots adjacent to the Alamo Drafthouse Mainstreet Theater and directly south of the Bristol Seafood Grill and BRGR Kitchen + Bar restaurants.
It is too early to offer details such as the footprints, heights and floor plans of those buildings, he said.
Re: Three Light
Posted: Tue Mar 15, 2016 4:15 pm
by earthling
With streetcar turning on soon, if there is more acceptance to renting a high $ unit w/out a parking spot, it may encourage much taller buildings (that is, not having to build more garage spots for many more units). However if Cordish plans to eventually turn these buildings condo, they may want closer # of parking spots per unit, so may not build much taller unless also building larger garages (much more expensive).
Re: Three Light
Posted: Wed Mar 16, 2016 9:01 am
by geeman68
I would love to see Four Light as a market rate tower.
Re: Three Light
Posted: Wed Mar 16, 2016 9:20 am
by grovester
I'm confused, aren't they all market rate?
Re: Three Light
Posted: Wed Mar 16, 2016 2:05 pm
by flyingember
grovester wrote:I'm confused, aren't they all market rate?
I think he means not luxury, like they're new units priced closer to the market average
Re: Three Light
Posted: Wed Mar 16, 2016 2:41 pm
by normalthings
flyingember wrote:grovester wrote:I'm confused, aren't they all market rate?
I think he means not luxury, like they're new units priced closer to the market average
The highest demand is for the luxury penthouses according to the head of P/L.
Re: Three Light
Posted: Wed Mar 16, 2016 4:18 pm
by earthling
And it's not likely a hirise can be built that can rent under $1.70/sqft or even $2/sqft depending on subsidies.
Re: Three Light
Posted: Wed Mar 16, 2016 6:05 pm
by KCtoBrooklyn
geeman68 wrote:I would love to see Four Light as a market rate tower.
I would like to see Four Light as condos. I think the Downtown condo market may have finally recovered enough by the time Four Light is done to see some demand for new inventory. Maybe a condo/boutique hotel combo with 40 plus stories, as long as we're dreaming.
Re: Three Light
Posted: Wed Mar 16, 2016 9:50 pm
by taxi
KCtoBrooklyn wrote:geeman68 wrote:I would love to see Four Light as a market rate tower.
I would like to see Four Light as condos. I think the Downtown condo market may have finally recovered enough by the time Four Light is done to see some demand for new inventory. Maybe a condo/boutique hotel combo with 40 plus stories, as long as we're dreaming.
This is very unlikely. It's not that the demand is not there. Current lending guidelines make it nearly impossible to develop a building as condos, since over 50% of the units have to be sold or under contract in order to get FHA approved and it's still tough to find conventional mortgages. Until the Dodd Frank rule is repealed, you probably won't see many new or conversion condo projects.
Re: Three Light
Posted: Wed Mar 16, 2016 10:12 pm
by KCPowercat
taxi wrote:KCtoBrooklyn wrote:geeman68 wrote:I would love to see Four Light as a market rate tower.
I would like to see Four Light as condos. I think the Downtown condo market may have finally recovered enough by the time Four Light is done to see some demand for new inventory. Maybe a condo/boutique hotel combo with 40 plus stories, as long as we're dreaming.
This is very unlikely. It's not that the demand is not there. Current lending guidelines make it nearly impossible to develop a building as condos, since over 50% of the units have to be sold or under contract in order to get FHA approved and it's still tough to find conventional mortgages. Until the Dodd Frank rule is repealed, you probably won't see many new or conversion condo projects.
This. Condo demand is there...places get snatched up as soon as they hit the market...if they don't, there is usually a reason (bad HOA, very old, bad layout)
Re: Three Light
Posted: Wed Mar 16, 2016 11:29 pm
by FangKC
Individual units selling fast in a building that is already condo is a much different situation than marketing condos in a new building that has to meet that 50 percent sold threshold. One basically has to pre-sell those 50 percent to cash buyers.
Re: Three Light
Posted: Thu Mar 17, 2016 8:09 am
by flyingember
It probably makes more sense to build as apartments and then start to sell them off as leases end at this point.
Could even have the option where existing renters can get the first chance to buy.
At one point Union Carbide building was going to be all condos but only one floor sold so they switched to being apartments (except the unfinished penthouse) and were going to sell them off over time.
Re: Three Light
Posted: Thu Mar 17, 2016 8:15 am
by earthling
That's been the trend nationwide. For new hirises intended to condo, is easier to fill via lease and then convert to condo over time when market conditions right.