OFFICIAL: Power & Light District

[trailerkid]

Yeah...I wonder how this project will be "phased in." My suggestion would be to start construction with Block and then go from there. As I understood, Cordish is working on their part and Block is working their part...so prospectively, both could open near the same time. Once whatever land work and demolition has been done, they need to fence chunks of the future phases to maintain a "work in progress" look rather than a vacant surface lot look.

I'm confused as to where any of the residential is going. It appears that those dark building clusters are residential? But who would want to live above an ESPN Zone?

[GRID]

Yea, all the dark buildings are residential, I think that is a new office building on the Empire theater block??? I am also currious as to how HRBlock will deal with the lot west of it's first phase tower. They will have to do someting creative with it if they don't plan on building the second tower till 2013. I sure don't think anyone wants it to look like that lot next to KC Southern's new building that was supposed to have a second phase as well.

[QueSi2Opie]

But who would want to live above an ESPN Zone?

me...

[trailerkid]

Block could build out the ground floor of the expansion to the west with the retail or whatever else is planned and then add the tower to the top when needed. Who knows, hopefully they will need a bigger expansion buidling than the one planned.

[trailerkid]

The TIF commission has already approved the KC Live/Block plan 7-2. It goes to the KC council on Jan. 29th.

One of the most interesting facets of the agreement is a clause that give development of the entertainment district to Block if Cordish does not do the job. So even if Cordish fails completely, Block will take over and get 'er done. I hope we don't need a plan B, but it's still good to have one considering the history of this part of downtown.

[quote]South Loop plan backed

By KEVIN COLLISON
The Kansas City Star

The South Loop redevelopment plan sailed through its first public hearing Wednesday, starting a fast-paced process driven by H&R Block's desire to start its new headquarters project by July.

Members of the Kansas City Tax Increment Financing Commission received their copies of the financing proposal just moments before the start of the hearing. The redevelopment plan is expected by 2006 to transform a seven-block area of downtown into new offices, an entertainment-oriented retail district and a revived President Hotel.

“This is what Kansas City has been looking for for a long time to get its downtown turned around,â€

[dangerboy]

The TIF commission has already approved the KC Live/Block plan 7-2. It goes to the KC council on Jan. 29th.

One of the most interesting facets of the agreement is a clause that give development of the entertainment district to Block if Cordish does not do the job. So even if Cordish fails completely, Block will take over and get 'er done. I hope we don't need a plan B, but it's still good to have one considering the history of this part of downtown.

Another interesting item is that H&R Block will have the first shot at naming rights for any arena that gets built nearby. I don't think that was ever mentioned in any previous media coverage.

[KCPowercat]

I like both of those developments. Giving H&R backup development rights shows something WILL be built because H&R wants some sort of development surrounding their offices.

Also I like them getting arena naming rights.....make the arena a big green glowing box.

[tat2kc]

Another big big plus is that Block wants to move on this FAST. They are talking about breaking ground this summer! For KC, this is lightning fast!

[trailerkid]

tat...I'm confused by the timeline. It says Block wants to start in July, but there is this:

Demolition and cleanup of all structures required for the H&R Block headquarters, including the old Jones Store, are to be completed by Sept. 1.

And then this:

Construction of the garage on the Jones Store site is expected to begin Dec. 1

What is the real timeline?

[tat2kc]

I think that once the buldings come down, there still needs to be site prep before actual construction begins. I'm thinking things like utilities, excavation, etc will be done in the fall, with actual construction beginning in Dec. At least thats my guess. You'd need to shore up the skybridge that connects the parking garage and the apts on walnut to Town Center, etc.

I'm trying to stay as positive as I can about this!!! Man oh man, I hope that they can move this fast on all this.

[QueSi2Opie]

Two new articles about KC Live in the Business Journal.

Kansas City Live entertainment district takes step forward with TIF application
Jim Davis
Staff Writer

Kansas City Live's birth was scheduled to take a crucial step Jan. 14, when the Tax Increment Financing Committee of Kansas City was to hear a financing request for the proposed downtown entertainment district.

The application, which also includes a new headquarters for H&R Block Inc. at 13th and Main streets, will help bridge a $150 million financing gap in the anticipated $400 million project.

TIF captures taxes generated by a development to reimburse the cost of public improvements such as parking garages.

Additional public support is expected to come through the new Missouri Downtown and Rural Economic Stimulus Act, which makes a similar diversion of state taxes.

The Cordish Co., a nationally known urban entertainment expert, will develop the project. The company agreed to take the Kansas City assignment after being lobbied by Kansas City Mayor Kay Barnes and Andi Udris, CEO of the Economic Development Corp. of Kansas City.

Udris has known David Cordish, chairman of the company, for a quarter-century, since Udris worked for Cordish at the U.S. Department of Housing and Urban Development.

When Cordish announced his plans for Kansas City Live in December, he said his golden rule for choosing projects is government's ability to work with business.

"If the mayor and governor don't get it, you can't succeed," Cordish said.

Property acquisition and demolition is to begin in the spring. Construction is expected to start in the fall.

Kansas City Live is to open in the summer of 2006 with about 425,000 square feet of stores and entertainment space. The project's budget is $280 million. A second phase is to add 1,000 apartments and about 1 million square feet of offices. No timetable has been set for the second phase.

Block's $120 million headquarters, containing 500,000 square feet, is to open in late 2006.


Cordish welcomes visitors and locals to fill its projects
Jim Davis
Staff Writer

Conventioneers and downtown loft dwellers could mingle with suburbanites escaping mall-driven sameness in Kansas City Live, the downtown entertainment complex that's to open in less than three years.

Simultaneously appealing to middle-age pinstripers and young professionals who have turned the Crossroads' First Fridays into a monthly must-do for the local creative class beckons a recipe that has energized cities such as Baltimore.

The Cordish Co., developer of Kansas City Live, begins with nationally recognized tenants and seasons them with local flavor. Kimber Goodwin, Cordish's marketing director, said projects cater to the market.

"There are no cookie-cutter solutions," Goodwin said. "Kansas City Live will be specific to that region."

Andi Udris, CEO of the Economic Development Corp. of Kansas City, said he wants to emphasize themes familiar to Kansas City -- "barbecue, steaks, jazz, country (music) and sports."

These elements already are readily available throughout the area. Their interaction in Kansas City Live is what will distinguish the district, Udris said.

Food and beverage purveyors will comprise about fourth-fifths of the district, he said. Retailers that also provide entertainment, such as bookstores, will occupy the remaining space.

With its other projects, Cordish has announced tenants with national name recognition to build interest. Hard Rock Cafe populates many projects, including The Power Plant in Cordish's hometown of Baltimore. Also in The Power Plant are Barnes & Noble, ESPN Zone and Gold's Gym.

The energy of this mix sparked Power Plant Live, an adjacent collection of bars, clubs and restaurants.

Power Plant Live's roster, containing more homegrown destinations, also is proving a potent draw. Power Plant Live ranks No. 6 on a list of top tourist attractions compiled by the Baltimore Business Journal, an affiliated publication. The Power Plant ranks No. 3.

Anirban Basu, CEO of Optimal Solutions Group in Baltimore, said Power Plant's opening in 1998 revived the Inner Harbor.

The harbor's far side, where Power Plant Live is, had confounded others. The Power Plant provided momentum, said Basu, whose economic and policy consulting firm has worked for the Baltimore mayor's office but not Cordish.

Basu said Cordish targets free-spending people in their 20s and 30s "looking for a bit of sophistication but also a lot of fun."

This appeal doesn't sap other destinations, he said. Locals after authentic experiences celebrated in movie director Barry Levison's "Diner" continue to frequent places unfamiliar to most out-of-towners.

Here, residents and visitors have long flocked to the Country Club Plaza. Its owner's top local official said he doesn't view Kansas City Live as competition.

Barry Brady, a senior vice president with North Carolina-based Highwoods Properties Inc., said he anticipates little overlap. Kansas City Live looks to emphasize nightlife more heavily than the Plaza, he said.

Some Plaza tenants' leases contain exclusivity clauses barring them from Downtown, but restrictions can be tweaked, as Barnes & Noble did to enter the Northland.

Udris said he's more interested in making sure Kansas City Live contains certain categories than specific names. If Barnes & Noble can't come, for example, Borders would do equally well. Similarly, he said, Fox Sports Grill would be an acceptable substitute for ESPN Zone.

Bill Lucas, president of Crown Center Redevelopment Corp., said the downtown district ought to boost occupancy of Crown Center hotels.

A leasing expert said Kansas City Live must paint regionally unique scenes.

Danielle Short, who marketed the ill-fated Power & Light District, said previous attempts to revive downtown shopping failed because they tried to replicate the suburbs.

"Whether people are coming in from the 'burbs or driving down from Des Moines," Short said, "they're not going to do it unless something new is delivered."

[tat2kc]

I found it funny that some of the businesses on the plaza have "exclusivity" agreements with Highwoods. can't be too many, most of the stores there you can find in most suburban settings in the metro area.

[trailerkid]

Yeah, tat, I found that funny too. But this is how I think it works...

B&N has an exclusivity agreement with the Plaza barring them from adding another KCMO location. Other B&N locations: Independence, Leawood, KC North. I remember something in the archives of the Star or Biz Jo saying B&N was sued for opening at BarryWoods back in the late 90s. I would imagine this agreement is still in place so we may see Borders downtown rather than B&N. Before the mid 90s, B&N stores were more rare so I can understand the agreement with the Plaza, but now it is outdated as B&N expanded rapidly. In addition, there really aren't any stores on the Plaza that they would have to worry about. Most of the stores would not add another store because of the size of the metro (Saks, A/X, etc.) or they need several stores in the metro (Talbot's, Banana Republic, etc.).

[KCN]

Danielle Short, who marketed the ill-fated Power & Light District, said previous attempts to revive downtown shopping failed because they tried to replicate the suburbs.

"Whether people are coming in from the 'burbs or driving down from Des Moines," Short said, "they're not going to do it unless something new is delivered."

[Missionite]

Udris said he's more interested in making sure Kansas City Live contains certain categories than specific names. If Barnes & Noble can't come, for example, Borders would do equally well. Similarly, he said, Fox Sports Grill would be an acceptable substitute for ESPN Zone.

Oh great. Just what we need is a Fox Sports Grill. I can see it now. We enter and on all of the televisions are Fox Sports Midwest. Which, if anyone has actually watched it, it should be called Fox Sports St. Louis. The only sports they cover on that stupid channel are the Cardinals, Rams, Blues and MU Tigers.

"Come to Kansas City's Fox Sports Grill after a Royals game. We'll supply the beer and the Cardinals highlights for ya!"

If that's the case, maybe I'll need much more than just a beer.

**keeping fingers crossed for an ESPN Zone**

Matt

[QueSi2Opie]

Oh great. Just what we need is a Fox Sports Grill

Get Udris outta here! I truely believe he thinks KC is a second-class city that will jus' except anything.

[dangerboy]

I found it funny that some of the businesses on the plaza have "exclusivity" agreements with Highwoods. can't be too many, most of the stores there you can find in most suburban settings in the metro area.

I think the exclusivity agreements are somewhat based on distance from the Plaza. I remember the fight over the Barry Road B&N was about whether to measure it's distance from the Plaza in road miles or as the crow flies. I don't think this will be such an issue in the future. Suburban retail is moving further out past the exclusive radius, and lately the Plaza has become more of a whore to the generic national chains anyway.

[trailerkid]

Urdis isn't the one signing the tenants...hopefully Cordish will be doing that.

[zonk]

forget B&N, Borders...as far as bookstore, how about something like the Tattered Cover? Colorado based...you can spent all day in that place!

[Slappy the Wang]

forget B&N, Borders...as far as bookstore, how about something like the Tattered Cover? Colorado based...you can spent all day in that place!

WOW! That's a blast from the past. Tom Peters broke that place into the mainstream in 1990! Are they franchised or is it a sole shop?