OFFICIAL - Waddell & Reed - 14th & Baltimore

Issues concerning Downtown as described by the Downtown Council. River to 31st Street, I-35 to Bruce R. Watkins.
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horizons82
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Re: Companies moving downtown

Post by horizons82 »

“Limo drop-off”

Are you kidding me? That ground level plan is a giant joke, especially on a site like this where you could easily use the grade to your advantage regarding active street frontage.

B&M should be embarrassed they thought this was a good design solution in an CBD location like this.
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beautyfromashes
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Re: Companies moving downtown

Post by beautyfromashes »

I don’t understand why the mayor would approve this but make rejecting Strata a campaign platform. The city will get more return on Strata than this building.

Do businesses have to pay property tax on their square foot of parking? Is the rate the same for parking/ft vs. office/ft?
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Re: Companies moving downtown

Post by flyingember »

beautyfromashes wrote: Mon Dec 09, 2019 3:06 pm Do businesses have to pay property tax on their square foot of parking? Is the rate the same for parking/ft vs. office/ft?
Taxes are based on the assessed value of property on a single parcel. An empty lot with nothing on it is assessed.
(one building on multiple parcels they use one parcel for the assessment/bill as you would expect)

The rate is based on if the property is classified as Residential, Commercial or Agricultural.

rsmo 137.016 defines each type


Incentives are a mix of a bunch of things

Imagine the IBM building is full of lead paint and asbestos. The incentives won't go as far as new construction.

Their average pay rate is known and maybe they're now providing a huge amount per year in e-tax payments just from the executives. 100 people at an average of $1 million payroll helps break even on incentives much sooner. The CEO made $4 million and one site said the average is 226,574 so that's over $2.2 million in e-tax each year. The incentives could effectively be only waiving the e-tax for 20 years and everything else is a net gain over an empty building meaning the city will be ahead from day 1.

Business license fees are based off of net income and maybe they're not arguing their numbers would be earned locally
Maybe they're sharing parking on weekends so the city is basically buying parking + jobs and strata was insistent on private parking.

It's fair to not like incentives, but you need to add up all the sources of funding a project has before assessing them. It's not just the building in play, it's the people too.

1000 people is also incentive to fill retail spaces. If 500 people go out to lunch that's another 3-4 places that will need to open to add capacity downtown. It's new jobs in existing restaurants. It's more wages for those workers.

The total economic increase could mean $44 million is such a good deal that we should do more deals of this scale.
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Re: Companies moving downtown

Post by nickyrosstheboss »

Went to Transibarian Orchestra this weekend. I got free tickets so didn't do much planning..... However when we got to P&L for dinner everywhere was booked until after the show. The amount of people that ended up going a few blocks away from P&L for dinner was huge! We almost didn't find anywhere to eat. 2-3 more restaurants would of helped the overflow. We stopped at Dott Lounge and there were only two bartenders scheduled and they got slammed due to the show. We need more people and business so we can have more retail and restaurants.
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Re: Companies moving downtown

Post by DColeKC »

nickyrosstheboss wrote: Mon Dec 09, 2019 4:17 pm Went to Transibarian Orchestra this weekend. I got free tickets so didn't do much planning..... However when we got to P&L for dinner everywhere was booked until after the show. The amount of people that ended up going a few blocks away from P&L for dinner was huge! We almost didn't find anywhere to eat. 2-3 more restaurants would of helped the overflow. We stopped at Dott Lounge and there were only two bartenders scheduled and they got slammed due to the show. We need more people and business so we can have more retail and restaurants.
This is always challenging when there's sprint center shows that sell well. Those restaurants have to sustain during the nights where there's nothing going on. It's common in the winter months for some of the restaurants to be barely paying the bills. I'm still all about two new styles of restaurants being added. A Mexican restaurant and some kind of 24/7 spot.
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Re: Companies moving downtown

Post by nickyrosstheboss »

..
Last edited by nickyrosstheboss on Mon Dec 09, 2019 5:56 pm, edited 1 time in total.
earthling
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Re: Companies moving downtown

Post by earthling »

"Why does KC have such a hard time with retail? "

Read the retail thread. KC metro as a whole is way overbuilt with retail space. More than STL, DEN and MSP. But downtown could use more smaller retail spaces. Some restaurant spaces are too large and it's harder to cover rent.
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Chris Stritzel
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Re: Companies moving downtown

Post by Chris Stritzel »

The drawings posted here remind me a little bit of 900 Church in Nashville. It was just announced but the terrace area the stacking plan reminds me a little bit of it. https://www.900church.com

It's a let down that there is no street-level retail space so I assume whatever potential revisions there are will add some retail space.
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Re: Companies moving downtown

Post by normalthings »

Per Urban STl:
Kevin Collison told me W&R rejected this version. So we will see if retail is added.
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Re: Companies moving downtown

Post by flyingember »

earthling wrote: Mon Dec 09, 2019 5:02 pm "Why does KC have such a hard time with retail? "

Read the retail thread. KC metro as a whole is way overbuilt with retail space. More than STL, DEN and MSP. But downtown could use more smaller retail spaces. Some restaurant spaces are too large and it's harder to cover rent.
It’s more there needs to be a shifting of retail.

Retailers all moved outward to the point the inner suburbs and city are short on retails basics while 135th St, Liberty or Lees Summit has an excess
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normalthings
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Re: Companies moving downtown

Post by normalthings »

@davekcmo @mods Can we please get a dedicated W&R thread and get this one cleaned up?
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FangKC
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Re: Companies moving downtown

Post by FangKC »

This can't be that hard. Basically this is taking Two LIght and plopping it down again at 14th and Baltimore, but instead of apartments the tower is office space, it's not as tall, and the entrance faces 14th Street instead of Truman Road.
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Re: Companies moving downtown

Post by FangKC »

Leaked images raise concern over use of proposed Waddell and Reed HQ

https://www.kshb.com/news/local-news/le ... nd-reed-hq
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alejandro46
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Re: Companies moving downtown

Post by alejandro46 »

Agree on making this its own thread.

Other ideas for ground level floor besides retail or parking:
Lobby
Coffee shop
Waddell and Reed customer facing office? Don't these guys see people face to face at all?
Restaurant/cafe
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GRID
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Re: Companies moving downtown

Post by GRID »

Is kshb 41 the only channel that covers urban kcmo anymore? I mean development etc, not just crime and stuff.
kenrbnj
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Re: Companies moving downtown

Post by kenrbnj »

Everyone, might we consider a new forum for this development?: W&R, 14th and Baltimore

Don't take the initial renderings so hard! Consider the following before sending up smoke:

a. It'll be a ~250ft building in a strategic area: Bridging the central downtown to the "Convention extension." Think: the entire zone between Kauffman and P&L will be bridged by such developments.
b. Critical mass is building. 1000 employees yield local housing and hospitality revenue.
c. The commitment by W&R to vacate OPK IS a leap-of-faith. They SHOULD BE COMMENDED
d. I have the highest level of confidence the end product will be beautiful. This fact is aligned with all parties' interests. This will definitely NOT be a "Traders Bank" building. (My vote for the homely building award.)

Many of us on this forum desire a new landmark building. .. I had wanted such a thing since 1989. However, the intermediate steps are developments such as W&R.
horizons82
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Re: Companies moving downtown

Post by horizons82 »

kenrbnj wrote: Tue Dec 10, 2019 12:10 pm Everyone, might we consider a new forum for this development?: W&R, 14th and Baltimore

Don't take the initial renderings so hard! Consider the following before sending up smoke:

a. It'll be a ~250ft building in a strategic area: Bridging the central downtown to the "Convention extension." Think: the entire zone between Kauffman and P&L will be bridged by such developments.
b. Critical mass is building. 1000 employees yield local housing and hospitality revenue.
c. The commitment by W&R to vacate OPK IS a leap-of-faith. They SHOULD BE COMMENDED
d. I have the highest level of confidence the end product will be beautiful. This fact is aligned with all parties' interests. This will definitely NOT be a "Traders Bank" building. (My vote for the homely building award.)

Many of us on this forum desire a new landmark building. .. I had wanted such a thing since 1989. However, the intermediate steps are developments such as W&R.
Height means nothing if the base is bungled. It currently is.

Moving from North OP to downtown in 2021 is not a leap of faith, its a speed bump maybe. Given the giant handout they're being given, I'm not sure why they're owed any slack at this point.

Beauty also means nothing, if it doesn't function as a urban building at the pedestrian realm.

This building will be mostly a dead, unwelcoming space at the ground floor. Given the site topography and base programmatic requirements, that's not the inevitable design solution. The logical conclusion is that it's either coming from miserly owner spending and/or poor spatial designers. Hopefully that changes. It seems it will, but people are right to be disenchanted currently.
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Re: Companies moving downtown

Post by kboish »

This building is also located on 14th street, which is a major connecting street between the convention complex/hotels and the entertainment complex. People walk this route all the time during major events. It really should be a premier street.
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Re: Waddell & Reed - 14th & Baltimore

Post by smh »

Also, not to nitpick KSHB (thank you so much for the coverage if you're out there), but these are not leaked images. These are the development plan submitted to KCMO. This is public record.
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Re: Waddell & Reed - 14th & Baltimore

Post by KCPowercat »

leaked images has more clickthrough
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