beautyfromashes wrote: ↑Tue Sep 14, 2021 9:15 am
What makes this hotel 5 star? The tendering sure doesn’t look anything special. Of course, it could change dramatically once we learn the flag, but that’s kind of why I’m asking. Seems they’ve done a terrible job promoting approval for this project. Should be a no until more is given on what we are getting.
Finishes, services, layout.
Hotel will be operated by Hatt’s twin roads making this a Thompson Hotel with 99% certainty. I don’t think the specific flag matters much and if anything not mentioning it is probably better
I’m not sure the group behind bravo could even pull it off, with or without incentives. It seems like everything about this project is flaky in some way
TheLastGentleman wrote: ↑Tue Sep 14, 2021 11:32 am
I’m not sure the group behind bravo could even pull it off, with or without incentives. It seems like everything about this project is flaky in some way
Group behind Hotel Bravo has been involved with some of the biggest developments in KC history. Also just did the 21 C Savoy which iirc you are a fan of. Not sure why it seems flakey to you other than it keeps getting punted around by a certain someone. We have about as many renderings, etc of this project as we did with Hyatt/ Loews. The operator for HB was indentified along with services, etc that it will provide.
FangKC wrote: ↑Mon Sep 13, 2021 6:22 pm
Having a 5-star hotel in Greater Downtown will also help with luring corporate headquarters back, and retaining ones that still remain.
I thought it was Class A spec office space and a new terminal. Does someone have the full list? /s
I know that was an attempt at sarcasm, but like, yes?
We had a shit airport, we continue to have no spec office space, and we don't have 5 star facilities.
DaveKCMO wrote: ↑Wed Sep 15, 2021 8:56 pm
My point is that there will always be something, and it's standard practice to debate each item with the default KC position "we don't need that".
This is true. I saw one Facebook argument to Hotel Bravo along the lines of KC is a backwater and can never be anything but that. Such a lovely attitude!
I wonder if council knows they should approve this before the World Cup visit comes along next month? If so, if this hotel supposed to be better than the new Loews?
This seems like a really small hotel to be making such a big deal. Is it really only 150 rooms? If the city gives incentives, the city should insist that this property be partial residential. With all the parking in that area (PAC garage and the parking deck to the south of this proposed hotel), that area and that block specifically needs to have more units (higher density).
Why not build a 250-300 unit apartment/condo building combined with the 150 unit luxury hotel?
They could then share many of the same amenities. Many Four Seasons hotels share their towers with high end condos/apartments and those units could become available for large events like the world cup. It seems like the hotel portion always ends up buying/leasing out many of the residential units and renting them out like their own airbnb.
The residential part doesn't have to be completely condo. You attach one of the lower floors of the hotel to an adjacent apartment building either on Baltimore, or the parcel just north on Wyandotte. This allows easy passage for food delivery and housekeeping service. Build a 15-story tower and make 2 floors of apartments condos. A smaller number would be easier to sell to cash buyers and the minimum 50 percent sold threshold reached easier. Then over time, convert one floor at a time to condos. If the rental part is also luxury units, renters might also use hotel services. I would wager some of the condos might be purchased for corporate use.
FangKC wrote: ↑Tue Sep 28, 2021 1:49 am
The residential part doesn't have to be completely condo. You attach one of the lower floors of the hotel to an adjacent apartment building either on Baltimore, or the parcel just north on Wyandotte. This allows easy passage for food delivery and housekeeping service. Build a 15-story tower and make 2 floors of apartments condos. A smaller number would be easier to sell to cash buyers and the minimum 50 percent sold threshold reached easier. Then over time, convert one floor at a time to condos. If the rental part is also luxury units, renters might also use hotel services. I would wager some of the condos might be purchased for corporate use.
Its just not doable right now. Maybe the next 5 star hotel can do something like that
The condo "calculation" problem is not unique to Kansas City. Aside from vacation-intensive (think: Palm Beach, Miami, Honolulu) and high-price cities (NY, Chicago, Toronto); the Condominium business structure is under pressure..
a. Finance for Condominium properties is difficult for the individual buyers. Hence, the finance to the builders are under pressure.
b. HOA fees and special assessments associated with vertical construction are high. For reference; a small 2-bedroom Palm Beach condo would typically carry a $1,000+ monthly HOA assessment. Consider the "Seaside Tower" which collapsed. The special assessment for the (fatally deferred) deck repair ranged from $80,000 to $300,000 "per door."
c. Use restrictions for buyers are a deterrent. Examples: Pet restrictions, parking restrictions, rental restrictions (AirBNB is the plague)
d. Parking is an extra cost to the buyer, with associated HOA and maintenance fees.
An education for me: The dreaded elevator. Over beers in Delray Beach, I spoke with a fellow living in a condo. A single, planned elevator repair on a 15 story tower was $1,250,000. This is a PLANNED maintenance event. The building is equipped with three elevators. $9,000 special assessment per unit for the one elevator refurbishment and cable change.
In areas such as Kansas City; the competition for a prospective resident is fierce: Spend $500,000 on a condo, plus HOA, assessments, taxes, fees: A very tidy spread in the Northland or in JoCo is in contention.
There IS a place for condos in KC. However the dynamics of a rental product are far easier to manage for a developer. Should the dynamic begin to favor a "co-op" or condo product; a conversion is surely an option for the developer.
^The Plaza has quite a few condo buildings that don't having any trouble attracting buyers despite all those factors. Is just a matter of time that some downtown apt buildings convert to condo. When the conditions are right.
