OFFICIAL - Waddell & Reed - 14th & Baltimore

[TheLastGentleman]

[Chris Stritzel]

I'm interested to know why the middle section along 14th has thin floors like that but the others are thick. I guess it doesn't matter much, but it's interesting to me.

[normalthings]

WR competitor UBS wealth management recorded a 99% increase in profits year of year. WR will report earnings on the 27th. Hoping for a big surprise

https://www.cnbc.com/2020/10/20/ubs-ear ... -2020.html

[normalthings]

[FangKC]

I wonder how long it will be before there is a building across the street?

[normalthings]

I wonder how long it will be before there is a building across the street?

Around the time we get rebuild the EDC and start supporting development again.

[TheLastGentleman]

[normalthings]

.

[normalthings]

progress photos

[moderne]

Waiting for the off kilter building block effect to be visible.

[normalthings]

WR up big over rumors that they are being purchased by JP Morgan Chase.

In a turn of events, WR's CEO claims the business is considering going on the offensive and buying competitors.


https://www.investmentnews.com/waddell- ... ack-198725

[TheLastGentleman]

[hgascoigne]

I’m curious what the plans are for this building now that Waddell is being acquired.

[Highlander]

I’m curious what the plans are for this building now that Waddell is being acquired.

Isn't this an Australian Company? Do they have a US office? I'm wondering if WR could still function as an autonomous US company?

Here is their statement:

"Waddell & Reed Financial and Macquarie are mindful of the building project in downtown Kansas City and completely appreciate the potential impacts the transaction may have on the community. We will be working with all the appropriate parties and reviewing plans closely, carefully and collaboratively and will provide updates over the coming weeks and months,"

Sounds pretty non committal.

[normalthings]

I’m curious what the plans are for this building now that Waddell is being acquired.

JP Morgan served as the advisor for WR. So that is where the JPM rumor came from.

If Waddell breaks their lease within the next month or 2, I would think that this could be converted into a residential project. Americo clearly has the $$$ and any extra funds that WR would pay to break the lease could go towards the redesign and reduced incentives. The Australian buyer looks to already have offices in Austin, Denver, and Chicago. I don't have a great feeling about this.

[kboish]

Maybe we could just turn the whole thing into an 18 story parking garage and then not worry about rebuilding Barney Allis Plaza

[GRID]

Jesus. KC just can't catch a break. This could easily end up getting stalled mid construction and sitting for years.

[normalthings]

Jesus. KC just can't catch a break. This could easily end up getting stalled mid construction and sitting for years.

Very very unlikely. The city was looking at this site to place a garage at the same time WR was evaluating it.

[GRID]

Jesus. KC just can't catch a break. This could easily end up getting stalled mid construction and sitting for years.

Very very unlikely. The city was looking at this site to place a garage at the same time WR was evaluating it.

So it will sit delayed for a couple of years and then just used for a garage? There are enough garages in KC for ten new office towers. The one under the PAC is barely used. Downtown KC needed those jobs, it needed a private HQ like that. I hope something good comes out of this, but KC tends to lose out on mergers. I don't see how this project finishes without 1000 very high paying jobs to help offset the massive incentives it's getting. What a terrible place for a high rise garage with no other use. Hopefully a 20 story something can eventually go on top the garage. It was kind of silly having a 8 story building on top a ten story garage anyway.

[normalthings]

Jesus. KC just can't catch a break. This could easily end up getting stalled mid construction and sitting for years.

Very very unlikely. The city was looking at this site to place a garage at the same time WR was evaluating it.

So it will sit delayed for a couple of years and then just used for a garage? There are enough garages in KC for ten new office towers. The one under the PAC is barely used. Downtown KC needed those jobs, it needed a private HQ like that. I hope something good comes out of this, but KC tends to lose out on mergers. I don't see how this project finishes without 1000 very high paying jobs to help offset the massive incentives it's getting. What a terrible place for a high rise garage with no other use. Hopefully a 20 story something can eventually go on top the garage. It was kind of silly having a 8 story building on top a ten story garage anyway.

That goes back to my earlier comment. Americo/B&M are pursuing a residential tower on the Plaza. They are about 75% way done with the garage. There is enough time to stop and redesign for residential.