New mixed use tower at 8th and Grand
Posted: Fri Mar 15, 2024 3:21 pm
https://www.bizjournals.com/kansascity/ ... 5&empos=p4
A private investment firm led by a Sporting Kansas City co-owner has joined forces with a California development and construction company as the groups prepare to pursue multiple large projects in and around Kansas City.
One such deal in late February saw BR buy a 0.87-acre parking garage site southwest of Eighth Street and Grand Boulevard for construction of a mixed-use high-rise.
At Eighth and Grand, BR is in predevelopment stages on a Class A multifamily tower, probably with more than 200 apartments, plus retail or commercial space. Cotton raised the potential for additional "cool adjacencies" involving surrounding properties. One just south of the garage, the historic Scarritt Building, was scheduled for online auction in October but has not changed hands. Its owners, Florida-based Augustine Development Group, years ago sought incentives for a $64 million project with 338 apartments in place of the parking garage but never proceeded to a plan submission.
Cotton said BR's project now targets a 2025 construction start, pending plan and financing approvals later this year.
"You could see that developing into a really powerful corridor (along Grand) for Kansas City economic activity and living opportunity over the next five to 10 years, and we thought we'd want to be at the tip of the spear on that," he said.