KCRag Forum

kas1 wrote: ↑Mon Jun 14, 2021 3:00 pm

normalthings wrote: ↑Fri Jun 11, 2021 10:43 amThis projects will pay tens of millions into the taxing jurisdictions that would otherwise not exist.

This argument continues to make no sense to me. Tens of millions of tax revenue means hundreds of millions of dollars of spending. If this hotel can attract visitors who dump hundreds of millions of dollars into the local economy, then why does it need the city to subsidize 1/3 of its cost? Shouldn't the hotel just be printing money under these circumstances? The premise of the argument is that there exists a huge number of globetrotters who refuse to stay in anything other than a five-star hotel who would love to visit Kansas City but for the fact that it has no hotel that's swanky enough for them. Why would these people not be willing to pay the same amount for their hotel room here as they do in every other city they visit?

LCDSI wrote: ↑Wed Jun 16, 2021 2:26 pm fyi; article in the kansascity star today about the costs of this project going up. Don't have subscription access to the star so not sure if it had any updates or details that would shed light on what might happen with this project.

The producer price index for construction materials has increased 26 percent since the luxury hotel first became public, according to data from the Federal Reserve Bank in St. Louis.

DaveKCMO wrote: ↑Wed Jun 16, 2021 2:33 pm

LCDSI wrote: ↑Wed Jun 16, 2021 2:26 pm fyi; article in the kansascity star today about the costs of this project going up. Don't have subscription access to the star so not sure if it had any updates or details that would shed light on what might happen with this project.

https://www.kansascity.com/news/busines ... 27728.html

The producer price index for construction materials has increased 26 percent since the luxury hotel first became public, according to data from the Federal Reserve Bank in St. Louis.

Not much new to report.

flyingember wrote: ↑Wed Jun 16, 2021 9:10 pm

DaveKCMO wrote: ↑Wed Jun 16, 2021 2:33 pm

LCDSI wrote: ↑Wed Jun 16, 2021 2:26 pm fyi; article in the kansascity star today about the costs of this project going up. Don't have subscription access to the star so not sure if it had any updates or details that would shed light on what might happen with this project.

https://www.kansascity.com/news/busines ... 27728.html

The producer price index for construction materials has increased 26 percent since the luxury hotel first became public, according to data from the Federal Reserve Bank in St. Louis.

Not much new to report.

The developer didn’t get the Star on board, it’s written to make them look disorganized.

They admitted they didn’t know the current cost so it’s not a wrong point to make.

normalthings wrote: ↑Sun Jul 25, 2021 11:03 pm
La Terrenea in LA

GRID wrote: ↑Mon Aug 02, 2021 7:18 pm This is confusing. So this is still happening?

DaveKCMO wrote: ↑Mon Aug 02, 2021 7:59 pm But it should be, at least as an incentives request.

GRID wrote: ↑Mon Aug 02, 2021 7:26 pm Oh and hotels are EXPENSIVE as hell right now. They have been all summer. $240 a night is nothing for a hotel this year anyway. We have stayed in probably 2 dozen hotels around the country this summer and I am constantly looking at prices. It's not uncommon for mid range hotel rooms to hit 500-600 a night in many markets, especially on weekends, but 250-400 is very common for nice mid range downtown hotels.

WoodDraw wrote: ↑Mon Aug 02, 2021 8:39 pm

DaveKCMO wrote: ↑Mon Aug 02, 2021 7:59 pm But it should be, at least as an incentives request.

Could they make payments in lieu of taxes to help? I'll admit to not knowing what's going on.