Companies moving downtown

Issues concerning Downtown as described by the Downtown Council. River to 31st Street, I-35 to Bruce R. Watkins.
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JLowe2018
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Re: Companies moving downtown

Post by JLowe2018 » Fri Oct 18, 2019 11:17 am

jasty5 wrote:
Fri Oct 18, 2019 11:08 am
earthling wrote:
Fri Oct 18, 2019 8:28 am
jasty5 wrote:
Fri Oct 18, 2019 7:40 am
Word is that W-R will go in at 14th & Baltimore, Southwest corner. I think it is one of the old convention hotel sites, they would demo the low rise building there. Height is 17 stories.
That was one of the three locations that brokers speculated on a couple weeks ago for a $90M project. The other rumor was a $200M multifunction building with perhaps residential on top. Rag Points for you if you're right but kinda hope you're wrong and it turns out to be the latter.
Here are three of the locations the brokers identified that could provide what Waddell might need:

- Copaken Brooks owns a site at 12th Street and Grand Boulevard — just north of Sprint Center — that would offer more than two-thirds of a city block.

- VanTrust Real Estate LLC, has been working with the city for several years to find a way to develop a site on the northern edge of Washington Square Park, near Crown Center.

- An affiliate of DST Systems Inc. owns two adjacent parcels of land at the southwest corner of 14th Street and Baltimore Avenue. DST, which SS&C Technologies acquired in April 2018, has a long association with Waddell & Reed.
https://www.bizjournals.com/kansascity/ ... -suit.html
My source is someone aware of the design and peripherally involved. I’d love to be wrong and find out it’s a combo tower of some kind. I do think concentrating all of this new development is actually better because you are really going to continue creating some continuous, critical mass of new construction that will be more appealing for companies.
Any knowledge as to if the old IBM building and/or facade will be incorporated into the design? Or will it just be demolished?

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TheLastGentleman
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Re: Companies moving downtown

Post by TheLastGentleman » Fri Oct 18, 2019 11:51 am

14th and Baltimore will be a good block to have developed, but it’s disappointing that it’s a relatively short building. It will be hidden in the skyline from almost every angle. Odd they would spend so much of the project description calling it a skyline changer.

Also, save the IBM building!!!

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 12:19 pm

I can not find the original post (by Jasty?) on the $200million Project.

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Re: Companies moving downtown

Post by TheLastGentleman » Fri Oct 18, 2019 12:30 pm

normalthings wrote:
Fri Oct 18, 2019 12:19 pm
I can not find the original post (by Jasty?) on the $200million Project.
The plot thickens.

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Re: Companies moving downtown

Post by kboish » Fri Oct 18, 2019 1:02 pm

jasty5 wrote:
Sun Aug 25, 2019 2:13 pm
normalthings wrote:
Sun Aug 25, 2019 12:55 pm
jasty5 wrote:
Sun Aug 25, 2019 12:37 pm
I don’t think it’s strata, I think it’s something new.
1. Waddell & Reed would need more space than what Strata or Platform Ventures can offer. Twisty Tower (500K SF) is the closest w/o being too small of the proposed office buildings.The Washington Square Park Office Project would be my second guess.

2. Are you saying that this will be a not yet announced office tower project?
I think this is some new project, and don’t think it’s associated with any of the existing spec developments. Agreed that strata would not be big enough. I heard a cost range of $200M for the cost, which is double the cost of Strata.

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 1:06 pm

kboish wrote:
Fri Oct 18, 2019 1:02 pm
jasty5 wrote:
Sun Aug 25, 2019 2:13 pm
normalthings wrote:
Sun Aug 25, 2019 12:55 pm


1. Waddell & Reed would need more space than what Strata or Platform Ventures can offer. Twisty Tower (500K SF) is the closest w/o being too small of the proposed office buildings.The Washington Square Park Office Project would be my second guess.

2. Are you saying that this will be a not yet announced office tower project?
I think this is some new project, and don’t think it’s associated with any of the existing spec developments. Agreed that strata would not be big enough. I heard a cost range of $200M for the cost, which is double the cost of Strata.
I should never have trusted the search function!
TheLastGentleman wrote:
Fri Oct 18, 2019 11:51 am
Also, save the IBM building!!!
What about it is worth saving?

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Re: Companies moving downtown

Post by TheLastGentleman » Fri Oct 18, 2019 1:19 pm

normalthings wrote:
Fri Oct 18, 2019 1:06 pm
What about it is worth saving?
Compared to a lot of other low rise midcentury modern buildings, it has a lot of character. Parts of the facade are unusual, the entrance canopy shows some Googie influence, and the stonework around the base is pretty nice. It’s a charming building for what it is.

It also adds to the eclectic set of buildings around that area

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 2:42 pm

1. SEC and other filings noted that Bravicci LLC purchased the parking lots around Crown Plaza- Power Light buildings to provide parking for a nearby hotel that the company planned on developing. The only lots that make sense are the DST lots to the south.

2. Previous poster with good connections mentioned that WR would be going into a ~$200million new construction development.
2 b. EEZ documents highly suggest that WR would be a tenant in a larger development.

3 WR plans on spending $90 million on their new HQ. WR’s newest rumor for a 17floor tower on DST’s block

4. Could Bravicci hotel and Waddell and Reed both be going into a development on the same block?
Last edited by normalthings on Fri Oct 18, 2019 3:20 pm, edited 1 time in total.

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Re: Companies moving downtown

Post by earthling » Fri Oct 18, 2019 3:07 pm

This is the document for Project Decoy that referred to 'recreate the skyline'...
https://edckc.s3.amazonaws.com/AdvanceK ... erview.pdf

So what might have happened is that W&R decided to build their own dedicated building and decided not to choose Project Decoy (possibly at 13th/Grand). But Project Decoy might still continue, seeking another tenant??? Or is the 14th/Baltimore site actually Project Decoy and they overstated 'recreate the skyline' or scaled it down w/out residential?

Of course none of the rag rumors have been confirmed.

Project Decoy...
This project will help recreate the skyline in Kansas City by adding a quality new construction high rise and continue to increase the population of individuals working everyday in downtown Kansas City
Last edited by earthling on Fri Oct 18, 2019 3:11 pm, edited 1 time in total.

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 3:10 pm

earthling wrote:
Fri Oct 18, 2019 3:07 pm
This is the document for Project Decoy that referred to 'recreating the skyline'...
https://edckc.s3.amazonaws.com/AdvanceK ... erview.pdf

So what might have happened is that W&R decided to build their own dedicated building and decided not to choose Project Decoy (possibly at 13th/Grand). But Project Decoy might still continue, seeking another tenant??? Or is the 14th/Baltimore site actually Project Decoy and they overstated 'recreating the skyline'?

Project Decoy...
This project will help recreate the skyline in Kansas City by adding a quality new construction high rise and continue to increase the population of individuals working everyday in downtown Kansas City
Project Decoy has always been an interesting name to me. It conveys that the firm it seeks to attract isn’t the one everyone expects it to be (Waddell and Reed). The average employee earnings in Project Decoy and WR are significantly different which could be a sign(or not). WR plans an investment of $90million in their new HQ and Project Decoy note $15 million (Scorecard - Personal Property Investment Including Lease Payment)

Waddell and Reed as described by MO Dep. Economic Development:
The company has pledged to invest about $90 million in its new headquarters in Missouri and employ 1,039 workers at an average salary of $157,138.
Project Decoy as described by MO Dep. Economic Development:
bring 1000 new jobs to the state of Missouri and the City of Kansas City, Mo. The average wage for the positions is over $110,000
Last edited by normalthings on Fri Oct 18, 2019 3:31 pm, edited 5 times in total.

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Re: Companies moving downtown

Post by earthling » Fri Oct 18, 2019 3:13 pm

^Nice catch. Interesting theory.

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Re: Companies moving downtown

Post by kboish » Fri Oct 18, 2019 3:30 pm

I'll buy that theory :D

Hope you're right!

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Re: Companies moving downtown

Post by mgh7676 » Fri Oct 18, 2019 3:35 pm

normalthings wrote:
Fri Oct 18, 2019 3:10 pm
earthling wrote:
Fri Oct 18, 2019 3:07 pm
This is the document for Project Decoy that referred to 'recreating the skyline'...
https://edckc.s3.amazonaws.com/AdvanceK ... erview.pdf

So what might have happened is that W&R decided to build their own dedicated building and decided not to choose Project Decoy (possibly at 13th/Grand). But Project Decoy might still continue, seeking another tenant??? Or is the 14th/Baltimore site actually Project Decoy and they overstated 'recreating the skyline'?

Project Decoy...
This project will help recreate the skyline in Kansas City by adding a quality new construction high rise and continue to increase the population of individuals working everyday in downtown Kansas City
Project Decoy has always been an interesting name to me. It conveys that the firm it seeks to attract isn’t the one everyone expects it to be (Waddell and Reed). The average employee earnings in Project Decoy and WR are significantly different which could be a sign(or not). WR plans an investment of $90million in their new HQ and Project Decoy note $15 million (Scorecard - Personal Property Investment Including Lease Payment)

Waddell and Reed as described by MO Dep. Economic Development:
The company has pledged to invest about $90 million in its new headquarters in Missouri and employ 1,039 workers at an average salary of $157,138.
Project Decoy as described by MO Dep. Economic Development:
bring 1000 new jobs to the state of Missouri and the City of Kansas City, Mo. The average wage for the positions is over $110,000
FWIW, I was also confused by the "Project Decoy" name because I had heard a different project name used for the W&R project.

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Re: Companies moving downtown

Post by earthling » Fri Oct 18, 2019 3:38 pm

^The suspense builds...

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 3:41 pm

KCDowntown wrote:
Tue Oct 08, 2019 12:23 pm
New documents posted for 'Project Decoy' at the upcoming EEZ meeting on October 11th. It's not hard to decipher what company this incentive would be directed to.
Did onetime hear anything more at the October 12 meeting?

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Re: Companies moving downtown

Post by earthling » Fri Oct 18, 2019 4:22 pm

IF Project Decoy was never intended for W&R
AND 13th/Grand was a top 3 candidate for W&R
THEN Project Decoy may not be at 13th/Grand?

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Re: Companies moving downtown

Post by TheLastGentleman » Fri Oct 18, 2019 4:33 pm

Maybe 1034 main? Being there wouldn’t affect the skyline much though....

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Re: Companies moving downtown

Post by KCtoBrooklyn » Fri Oct 18, 2019 4:59 pm

I have a hard time believing Project Decoy could be anyone besides W&R. The overview says the jobs are new to the state of Missouri and to KCMO, but not to the metro/region. That makes me think it is safe to assume they are relocating from the KS side. Are there any other financial services firms that employ 1,000 people in JoCo?

What are the chances that two financial services firms that each employ around 1,000 people would be relocating to Downtown at the exact same time?

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Re: Companies moving downtown

Post by earthling » Fri Oct 18, 2019 5:08 pm

Yeah that crossed my mind. But if they want project to be a Decoy, they may not say new to metro so that the implication is W&R. And mgh heard W&R project as another name - though the W&R internal name could be different than the developer's building project name.

Agree with you about the odds of 2 financial firms at same time. A mystery for now...

Someone who knows all the answers could be monitoring us and smiling at all the speculation.

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Re: Companies moving downtown

Post by normalthings » Fri Oct 18, 2019 5:39 pm

KCtoBrooklyn wrote:
Fri Oct 18, 2019 4:59 pm
Are there any other financial services firms that employ 1,000 people in JoCo?
J. P. Morgan Retirement Plan Services (now under Great-Western Financial) employs around 1,000 (and growing) in Overland Park. Their lease there is up in either 2021 or 2022.

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