OFFICIAL - Embassy Suites (former Federal Reserve)

[normalthings]

Special Use Permit Applied for. Apparently hotels are not allowed within 150 feet of BLVD

https://compasskc.kcmo.org/EnerGov_Prod ... b=contacts

[DaveKCMO]

Special Use Permit Applied for. Apparently hotels are not allowed within 150 feet of BLVD

https://compasskc.kcmo.org/EnerGov_Prod ... b=contacts

That's ridiculous.

Does this apply to the hotel at 12th & Grand? Or the one that just opened at 20th & Grand?

[WoodDraw]

https://www.bizjournals.com/kansascity/ ... rsion.html

Some life left in this project at least.

Those developer names sound different to me than the ones previously attached, but it's been awhile.

[TheLastGentleman]

Another article https://www.bizjournals.com/kansascity/ ... -quad.html

New rendering

[gfenn11]

Not sure if they are there to pick up what little equipment is left or if they were dropping off a generator, but a few people were onsite this morning when I biked by.

[FangKC]

Former Federal Reserve building eyed for hotel conversion sees potential signs of life

...
In late March, Delta Quad received $4.95 million in debt backed by the former Federal Reserve building from two funds managed by Fairbridge Asset Management, a commercial real estate lender based in Darien, Connecticut. The short-term loans will mature in April 2024.

Shortly before the new financing was secured, three firms — Rau Construction, architect Browning Day and Hoss & Brown Engineers — last month recorded releases of previous mechanic's lien or lis pendens notices against the historic property with Jackson County.
...
And on March 3, the former Federal Reserve building was removed from Kansas City's Dangerous Buildings list, where it had been since June 2020. That listing resulted from a limestone slab that fell to the sidewalk from the structure's south side in February 2020, city press secretary Sherae Honeycutt said. A city inspection on March 2 found the building secure, with no further concern of falling limestone.
...
Delta Quad is affiliated with Roos Enterprises Inc. of Niles, Michigan. Roos Enterprises President David Roos said in 2021 that his group had invested about $42 million in the building at that point — including for interior demolition work and asbestos remediation — and was continuing to seek construction financing.
...

https://www.bizjournals.com/kansascity/ ... lcmonIo4mA

[Cratedigger]

SunPlat had acquired a previous short-term loan for the property and scheduled a foreclosure sale in the summer, in connection with several alleged defaults, before Delta Quad paid off the remaining loan amount and the sale was canceled.

One alleged default addressed an appearance of "complete disrepair" in the former Federal Reserve building under Delta Quad's ownership. SunPlat indicated in court filings that the Fed's large bronze seal had been torn from the middle of the grand lobby, elevator cables had been cut and some historic decorative windows seemed to have been stolen, among other issues.

Ugh

[KCPowercat]

Our codes enforcement department is just as much to blame for this

[WoodDraw]

Yeah i filed I don't know how many 311s on this building, plus emails and calls to appropriate council members and departments. No one did a thing.

Just a cursed building that should never been allowed to get this bad.

[moderne]

Especially given the high level the Fed maintained it at when they occupied it.

[WoodDraw]

Acquiring a loan at discount and then moving to foreclose on it is fairly funny though.

I wouldn't trust these developers to put together an Ikea table. I used to live by here and they were just the fucking worst. It was infested with rats and pigeons. There were homeless people and people breaking in.

I felt bad for people that had to use that garage. I'm rarely up that way so I hope they made some progress at not being awful.

[TheLastGentleman]

The number of incredible historic buildings sitting empty and completely unattended in downtown is really concerning. The scarritt building, the old fed, the grand temple, the palace clothing building, the gumbel building, the midland building, the Aladdin, seiden furs, louis curtiss’s studio, and the old muehlebach hotel are all sitting empty and visibly decaying. And that’s just within the Loop

[langosta]

I thought Scarrit started?

[TheLastGentleman]

News to me! I’ve never seen any activity

[GRID]

I thought Gumbel was converted to a hotel??

I don't understand the Aladdin and Muehlebach. Are they just not in friendly hands?

And this federal reserve thing is a disaster. WTF. Seems like a perfect fit for a conversion to an Embassy Suites, but good god.

Sometimes I don't understand the business of development and how projects can just stall into eternity. Same with that Hyatt on Broadway. I mean it seems like there would be some way to re-start projects like that much more quickly vs the loss incurred with letting them sit for years.

[FangKC]

There is renovation activity across the street to the south in the former Ozark National Bank Building (906 Grand) where they are converting that structure into an AC Hotel by Marriott.

[FangKC]

The Gumbel is a Hampton Inn and is temporarily closed for renovations.

https://www.hilton.com/en/hotels/mkcfdh ... -district/

The Aladdin was sold at auction not too long ago to a Canadian hospitality company based in Toronto.

https://www.skylineinvestments.com/portfolio/

The Muehlebach is supposed to be converted to apartments, but I don't think construction has started.

[GRID]

There is renovation activity across the street to the south in the former Ozark National Bank Building (906 Grand) where they are converting that structure into an AC Hotel by Marriott.

The fed reserve will happen eventually. I remember thinking they would never get the P&L Building converted. That took years to actually get going. Now it's been open for how long?

[FangKC]

The P&L Tower reopened as residential in 2016.

The conversion of the Federal Reserve Bank seems to keep getting delayed because of financing problems.

[kboish]

It’s such a shame it keeps getting stalled because having a hotel right there will really help activate that area