OFFICIAL - Strata (H&R Block's 2nd Tower)

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by FangKC » Fri Nov 08, 2019 3:15 pm

DColeKC wrote:
Fri Nov 08, 2019 9:57 am
I can understand that frustration but affordable housing will always be needed, high-end, market rate housing not so much. I understand why they would want to put all their focus and effort on getting the expensive new projects up and going while the market allows as opposed to rehabbing an old building into affordable units. The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.

It's also a slightly more complicated project being attached to a music venue. None the less, glad to see it underway.
Mac Properties renovated multiple older buildings at the same time, as well as planning and completing new construction projects (3435 Main completed, new construction at Armour and Cherry, and Armour & Troost 4 Corners project, ). They are also an out-of-town developer with projects in other cities.
TheLastGentleman wrote:
Fri Nov 08, 2019 3:02 pm
DColeKC wrote:
Fri Nov 08, 2019 1:49 pm
The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.
I’ve never seen any action around there. When did they start?
They are supposed to start in 2020 according to recent articles. Did they start work early?

https://cityscenekc.com/midland-project ... arly-2020/

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by DColeKC » Fri Nov 08, 2019 4:09 pm

FangKC wrote:
Fri Nov 08, 2019 3:15 pm
DColeKC wrote:
Fri Nov 08, 2019 9:57 am
I can understand that frustration but affordable housing will always be needed, high-end, market rate housing not so much. I understand why they would want to put all their focus and effort on getting the expensive new projects up and going while the market allows as opposed to rehabbing an old building into affordable units. The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.

It's also a slightly more complicated project being attached to a music venue. None the less, glad to see it underway.
Mac Properties renovated multiple older buildings at the same time, as well as planning and completing new construction projects (3435 Main completed, new construction at Armour and Cherry, and Armour & Troost 4 Corners project, ). They are also an out-of-town developer with projects in other cities.
TheLastGentleman wrote:
Fri Nov 08, 2019 3:02 pm
DColeKC wrote:
Fri Nov 08, 2019 1:49 pm
The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.
I’ve never seen any action around there. When did they start?
They are supposed to start in 2020 according to recent articles. Did they start work early?

https://cityscenekc.com/midland-project ... arly-2020/
Mac properties is in three markets and they don't do new hi-rise construction from what I can gather, but specialize in rehab and low-rise. Cordish over just the time building residential here in KC has had dozens of other large scale projects happening. Cordish is in over a dozen markets and is a small family owned company. I'm not saying that's solely the reason they've held off on Midland. If it were your money, what are you going to build first, something that will make you money or something you'll probably come out even on?

As for construction at Midland, nothing heavy at this time but a lot of little work and planning, including extensive acoustic testing to ensure a quality experiance for residents during a Midland event.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by grovester » Fri Nov 08, 2019 4:26 pm

DColeKC wrote:
Fri Nov 08, 2019 4:09 pm
FangKC wrote:
Fri Nov 08, 2019 3:15 pm
DColeKC wrote:
Fri Nov 08, 2019 9:57 am
I can understand that frustration but affordable housing will always be needed, high-end, market rate housing not so much. I understand why they would want to put all their focus and effort on getting the expensive new projects up and going while the market allows as opposed to rehabbing an old building into affordable units. The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.

It's also a slightly more complicated project being attached to a music venue. None the less, glad to see it underway.
Mac Properties renovated multiple older buildings at the same time, as well as planning and completing new construction projects (3435 Main completed, new construction at Armour and Cherry, and Armour & Troost 4 Corners project, ). They are also an out-of-town developer with projects in other cities.
TheLastGentleman wrote:
Fri Nov 08, 2019 3:02 pm


I’ve never seen any action around there. When did they start?
They are supposed to start in 2020 according to recent articles. Did they start work early?

https://cityscenekc.com/midland-project ... arly-2020/
Mac properties is in three markets and they don't do new hi-rise construction from what I can gather, but specialize in rehab and low-rise. Cordish over just the time building residential here in KC has had dozens of other large scale projects happening. Cordish is in over a dozen markets and is a small family owned company. I'm not saying that's solely the reason they've held off on Midland. If it were your money, what are you going to build first, something that will make you money or something you'll probably come out even on?

As for construction at Midland, nothing heavy at this time but a lot of little work and planning, including extensive acoustic testing to ensure a quality experiance for residents during a Midland event.
Nobody who lives downtown cares about loud music. That's why they moved to the city.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Fri Nov 08, 2019 4:44 pm

DColeKC wrote:
Fri Nov 08, 2019 4:09 pm
FangKC wrote:
Fri Nov 08, 2019 3:15 pm
DColeKC wrote:
Fri Nov 08, 2019 9:57 am
I can understand that frustration but affordable housing will always be needed, high-end, market rate housing not so much. I understand why they would want to put all their focus and effort on getting the expensive new projects up and going while the market allows as opposed to rehabbing an old building into affordable units. The midland tower was never forgot about but a lesser priority for sure. It's currently under construction.

It's also a slightly more complicated project being attached to a music venue. None the less, glad to see it underway.
Mac Properties renovated multiple older buildings at the same time, as well as planning and completing new construction projects (3435 Main completed, new construction at Armour and Cherry, and Armour & Troost 4 Corners project, ). They are also an out-of-town developer with projects in other cities.
TheLastGentleman wrote:
Fri Nov 08, 2019 3:02 pm


I’ve never seen any action around there. When did they start?
They are supposed to start in 2020 according to recent articles. Did they start work early?

https://cityscenekc.com/midland-project ... arly-2020/
Mac properties is in three markets and they don't do new hi-rise construction from what I can gather, but specialize in rehab and low-rise. Cordish over just the time building residential here in KC has had dozens of other large scale projects happening. Cordish is in over a dozen markets and is a small family owned company. I'm not saying that's solely the reason they've held off on Midland. If it were your money, what are you going to build first, something that will make you money or something you'll probably come out even on?

As for construction at Midland, nothing heavy at this time but a lot of little work and planning, including extensive acoustic testing to ensure a quality experiance for residents during a Midland event.
MAC is building taller than Cordish in STL (One Hundred). However, I would take Cordish over MAC any day. IMHO Cordish is really poor with community outreach but MAC is worse.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by DColeKC » Fri Nov 08, 2019 5:33 pm

Grovestar -- I wish that were the case about loud music downtown!

Normalthings -- I didn't know about the One Hundred building, that's a great looking building. Is it the first hi-rise they've done?

I think most developers fall short of what some would like to see in community outreach.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by FangKC » Fri Nov 08, 2019 7:43 pm

When I worked for NYC's largest academic medical center, before any development was planned, community engagement and outreach was done for YEARS before the announcement. Not construction, just the announcement the medical center wanted to expand, or demolish and build new. We offered free health care education, sponsored street fairs and block parties, free vaccines, free health checks, and sent residents in the neighborhood greeting cards at holidays, yadda yadda yadda, to grease the wheels to the extent that the community was on-board well before the first dirt moved.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Fri Nov 08, 2019 7:47 pm

DColeKC wrote:
Fri Nov 08, 2019 5:33 pm
Grovestar -- I wish that were the case about loud music downtown!

Normalthings -- I didn't know about the One Hundred building, that's a great looking building. Is it the first hi-rise they've done?

I think most developers fall short of what some would like to see in community outreach.
MAC has done others in Chicago and I’ve heard there is the potential for an even talle follow-up to One Hundred in STL. MAC in KC is pretty much built out once Armour corners is completed - unless they expand to a new underdeveloped neighborhood. We aren’t gonna see them compete in any area where you’d expect a tower to go up (Plaza or Downtown).

https://chicago.curbed.com/2018/3/20/17 ... -apartment

https://chicago.curbed.com/2017/8/25/16 ... apartments


I had tried to reach out to Cordish a few times before and never received a response. I also spoke with a few “behind the scenes power holders” who expressed they also felt that Cordish was closed off from the community. Generally, I like Cordish for their long term commitment to the city and continued willingness to take bigger and bigger risks here.
Last edited by normalthings on Fri Nov 08, 2019 8:00 pm, edited 3 times in total.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by FangKC » Fri Nov 08, 2019 7:49 pm

I'm surprised MAC is out when there is so much street car line real estate development to come.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Fri Nov 08, 2019 7:49 pm

FangKC wrote:
Fri Nov 08, 2019 7:49 pm
I'm surprised MAC is out when there is so much street car line real estate development to come.
In conversation it has come across to me that they do not see it as a legitimate transit tool nor do they expect it to change anything for them.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by grovester » Fri Nov 08, 2019 8:01 pm

DColeKC wrote:
Fri Nov 08, 2019 5:33 pm
Grovestar -- I wish that were the case about loud music downtown!

Normalthings -- I didn't know about the One Hundred building, that's a great looking building. Is it the first hi-rise they've done?

I think most developers fall short of what some would like to see in community outreach.
Hmmm...Grovestar....I like it!

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by DColeKC » Fri Nov 08, 2019 10:58 pm

grovester wrote:
Fri Nov 08, 2019 8:01 pm
DColeKC wrote:
Fri Nov 08, 2019 5:33 pm
Grovestar -- I wish that were the case about loud music downtown!

Normalthings -- I didn't know about the One Hundred building, that's a great looking building. Is it the first hi-rise they've done?

I think most developers fall short of what some would like to see in community outreach.
Hmmm...Grovestar....I like it!
My bad!

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by KCtoBrooklyn » Sat Nov 09, 2019 5:19 pm

normalthings wrote:
Fri Nov 08, 2019 7:47 pm
MAC in KC is pretty much built out once Armour corners is completed - unless they expand to a new underdeveloped neighborhood. We aren’t gonna see them compete in any area where you’d expect a tower to go up (Plaza or Downtown).
What makes you say this? Is there an actual source behind this, or is it just assumption?

For one, I don't think they will necessarily be done with the Armour corridor when the Four Corners project is complete. There are still more opportunities for both rehabs and new construction in that area. They have long talked about wanting to push east of Troost on Armour. Perhaps they are just paying lip service, but there are more opportunities for them on Armour, between Troost and Paseo, as well as on Troost N and S of Armour.

There were rumors a while back of MAC unsuccessfully trying to purchase the Burger King lot on Armour and Main. The Pancho's lot has been up for sale (I'm not seeing the listing right now, not sure if it sold). I think either of those lots could potentially be an opportunity for MAC to build something a little taller. Something the height of One Hundred would be out of place, but I could see 10-14 story buildings going there.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Sat Nov 09, 2019 6:33 pm

KCtoBrooklyn wrote:
Sat Nov 09, 2019 5:19 pm
normalthings wrote:
Fri Nov 08, 2019 7:47 pm
MAC in KC is pretty much built out once Armour corners is completed - unless they expand to a new underdeveloped neighborhood. We aren’t gonna see them compete in any area where you’d expect a tower to go up (Plaza or Downtown).
What makes you say this? Is there an actual source behind this, or is it just assumption?

For one, I don't think they will necessarily be done with the Armour corridor when the Four Corners project is complete. There are still more opportunities for both rehabs and new construction in that area. They have long talked about wanting to push east of Troost on Armour. Perhaps they are just paying lip service, but there are more opportunities for them on Armour, between Troost and Paseo, as well as on Troost N and S of Armour.

There were rumors a while back of MAC unsuccessfully trying to purchase the Burger King lot on Armour and Main. The Pancho's lot has been up for sale (I'm not seeing the listing right now, not sure if it sold). I think either of those lots could potentially be an opportunity for MAC to build something a little taller. Something the height of One Hundred would be out of place, but I could see 10-14 story buildings going there.
Just conversations with the higher ups out of their home office.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by earthling » Tue Nov 12, 2019 4:02 pm

Developers of proposed 25-story KC tower scale back incentives request
The updated deal cuts out a $27 million investment in city funds that would have resulted in the city owning a 28% stake in the project. However, the city still will be a financial backstop for a $36 million parking garage, but it won't be putting any money up front in the deal, according to a memo submitted to the city by the developers' attorney.

The original development agreement called for the city to construct a 750-space parking garage, which would cost about $36 million. In the previous version, the city also would spend about $27 million in exchange for receiving 28% of the tower's revenue, after operating expenses.

Now, the city will be completely removed from any equity in the tower and only would be involved in the parking garage. Should revenues for parking exceed the operating costs of the garage and other financial obligations, the revenue would go back to the developer now, instead of the city.

The developers behind the project will present the reworked deal to a City Council committee Wednesday. Should it pass this week, the project will return to City Council on Thursday.
https://www.bizjournals.com/kansascity/ ... quest.html

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by DColeKC » Tue Nov 12, 2019 4:20 pm

Why wouldn't the city pass it after that reworking?

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by beautyfromashes » Tue Nov 12, 2019 4:33 pm

What amount will H&R Block get in this deal?

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Tue Nov 12, 2019 6:13 pm

So, if an employer decides to move from St. Louis or another part of Kansas City into the building, it would not count toward the AIM Zone reimbursement funds.

That likely means that developers are banking on securing a large, out-of-town tenant for the project. The memo sent to City Council said the project would produce 1,100 jobs.
So we are looking at 1,100 new jobs that aren’t coming from within the state or from Kansas (border war is over after WR)

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by normalthings » Tue Nov 12, 2019 9:14 pm

  • Cordish will now be involved with the project as the parking garage construction manager.
  • The City will cap construction permitting and inspection fees at $200,000 for the office tower and garage.
  • The city will direct Planning and Zoning to proceed in "Good-Faith" with all permits, approvals, etc
  • AIM projections are for 1,138 jobs at $75,000 salary.

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Re: OFFICIAL - Strata (H&R Block's 2nd Tower)

Post by TheLastGentleman » Tue Nov 12, 2019 9:29 pm

normalthings wrote:
Tue Nov 12, 2019 9:14 pm
  • Cordish will now be involved with the project as the parking garage construction manager.
  • The City will cap construction permitting and inspection fees at $200,000 for the office tower and garage.
  • The city will direct Planning and Zoning to proceed in "Good-Faith" with all permits, approvals, etc
  • AIM projections are for 1,138 jobs at $75,000 salary.
Sounds like the gears are turning

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Re: H&R Block's Second Tower?

Post by langosta » Wed Nov 13, 2019 3:05 am

aknowledgeableperson wrote:
Thu Mar 20, 2008 2:34 pm
KCTigerFan wrote: Given the state of H&R right now, I doubt you will see it for years. 
Probably a decade or more, if ever.
Time has flown by too fast. It’s hard to believe we’ve been talking about this for 11 years.

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