Two Light - 14th & Grand

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normalthings
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Re: Two Light - 14th & Grand

Post by normalthings »

DColeKC wrote:
Sat Jun 27, 2020 7:02 pm
normalthings wrote:
Fri Jun 26, 2020 6:41 pm
normalthings wrote:
Mon May 04, 2020 9:34 pm

Still only 4 units open. Many of them penthouses or higher end units.
June update: 4 units open. 3 being studios (so technically an improvement?)
All the 3 studios are the least desirable units as well. Overall, great for a residential property.
That was fast! Only the 3 studios left now. 99% occupancy (based on 297 units). I can't believe 590 sqft studios are going for $3+ per sqft

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normalthings
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Re: Two Light - 14th & Grand

Post by normalthings »

Mid July Update: 100% Occupancy

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KC_JAYHAWK
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Re: Two Light - 14th & Grand

Post by KC_JAYHAWK »

normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.

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Re: Two Light - 14th & Grand

Post by flyingember »

KC_JAYHAWK wrote:
Wed Jul 22, 2020 8:07 am
normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.
It's not ridiculous. They rent out apartments to make money. They're probably not going to build anything new until they're certain their revenue won't fall.

The $600 unemployment bonus people are getting ends within a week and is going to create a financial shock especially in the housing market.

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KC_JAYHAWK
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Re: Two Light - 14th & Grand

Post by KC_JAYHAWK »

flyingember wrote:
Wed Jul 22, 2020 8:46 am
KC_JAYHAWK wrote:
Wed Jul 22, 2020 8:07 am
normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.
It's not ridiculous. They rent out apartments to make money. They're probably not going to build anything new until they're certain their revenue won't fall.

The $600 unemployment bonus people are getting ends within a week and is going to create a financial shock especially in the housing market.
I doubt if the people living in 1 and 2 light are depending on $600 unemployment checks. And with interest rates at 50 year low, perfect time to lock in low financing.

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DColeKC
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Re: Two Light - 14th & Grand

Post by DColeKC »

KC_JAYHAWK wrote:
Wed Jul 22, 2020 8:07 am
normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.
Not too unexpected when you consider how the cookie crumbled. First, the city’s pushback which caused a delay and than a pandemic which cut off the majority of Cordish’s revenue for months. They already had a few big projects that were and still are under construction when the pandemic started. Fairly uncertain times but they’re just now brining in revenue again but at a much reduced rate.

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Re: Two Light - 14th & Grand

Post by shinatoo »

DColeKC wrote:
Wed Jul 22, 2020 10:35 am
KC_JAYHAWK wrote:
Wed Jul 22, 2020 8:07 am
normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.
Not too unexpected when you consider how the cookie crumbled. First, the city’s pushback which caused a delay and than a pandemic which cut off the majority of Cordish’s revenue for months. They already had a few big projects that were and still are under construction when the pandemic started. Fairly uncertain times but they’re just now brining in revenue again but at a much reduced rate.
Financing is cheap right now if they can get it. Seems like building in a market that gives then 100% occupancy within months of opening would be a good plan for increasing revenue.
Quocunque Jeceris Stabit

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normalthings
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Re: Two Light - 14th & Grand

Post by normalthings »

shinatoo wrote:
Wed Jul 22, 2020 11:32 am
DColeKC wrote:
Wed Jul 22, 2020 10:35 am
KC_JAYHAWK wrote:
Wed Jul 22, 2020 8:07 am


And still no real time line on when 3 Light will break ground....ridiculous. I would think Cordish would want to build 3 and 4 together with occupancy like that for both 1 and 2 Light.
Not too unexpected when you consider how the cookie crumbled. First, the city’s pushback which caused a delay and than a pandemic which cut off the majority of Cordish’s revenue for months. They already had a few big projects that were and still are under construction when the pandemic started. Fairly uncertain times but they’re just now brining in revenue again but at a much reduced rate.
Financing is cheap right now if they can get it. Seems like building in a market that gives then 100% occupancy within months of opening would be a good plan for increasing revenue.
Yet somehow 3 Light has stalled or died. Permits haven’t advanced since Feb/March. The builder was fired and rebid. Condos stripped from the unit mix.

If Cordish could work out a parking deal with WR and Loews(who sells monthly passes), one would think they could probably build 4Light with no garage and no incentives.

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Re: Two Light - 14th & Grand

Post by GRID »

normalthings wrote:
Wed Jul 22, 2020 12:45 pm
shinatoo wrote:
Wed Jul 22, 2020 11:32 am
DColeKC wrote:
Wed Jul 22, 2020 10:35 am


Not too unexpected when you consider how the cookie crumbled. First, the city’s pushback which caused a delay and than a pandemic which cut off the majority of Cordish’s revenue for months. They already had a few big projects that were and still are under construction when the pandemic started. Fairly uncertain times but they’re just now brining in revenue again but at a much reduced rate.
Financing is cheap right now if they can get it. Seems like building in a market that gives then 100% occupancy within months of opening would be a good plan for increasing revenue.
Yet somehow 3 Light has stalled or died. Permits haven’t advanced since Feb/March. The builder was fired and rebid. Condos stripped from the unit mix.

If Cordish could work out a parking deal with WR and Loews(who sells monthly passes), one would think they could probably build 4Light with no garage and no incentives.
It's crazy that two towers have been announced and then built in the crossroads in the same time period that Three Light was supposed to be UC by now. Sounds like Three Light has died, which is crazy since they are getting a massive incentive package that no other developer would likely get again for a residential project. That would have been a game changer for KC urban living and KC prices psf and probably enough to finally get some big time high rise developers to take notice of the KC market.

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Re: Two Light - 14th & Grand

Post by TheLastGentleman »

I don't think 3 Light has died, but maybe DColeKC can corroborate that. I'm pretty sure I would've heard if it had been killed off.

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normalthings
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Re: Two Light - 14th & Grand

Post by normalthings »

TheLastGentleman wrote:
Wed Jul 22, 2020 1:02 pm
I don't think 3 Light has died, but maybe DColeKC can corroborate that. I'm pretty sure I would've heard if it had been killed off.
It’s been 2 years since they received incentives and we have yet to see a permit approved. In my books It’s on the verge of becoming vapor ware at this point.

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Re: Two Light - 14th & Grand

Post by DColeKC »

TheLastGentleman wrote:
Wed Jul 22, 2020 1:02 pm
I don't think 3 Light has died, but maybe DColeKC can corroborate that. I'm pretty sure I would've heard if it had been killed off.
Very much still alive with future plans to go beyond a 4th residential tower long term. Keep in mind that Cordish also has hundreds of bars, clubs and restaurants located in 8 entertainment districts plus a casino and hotels that were basically shut down earlier this year and currently just paying the bills. Combined with a few multi-million dollar construction projects that were active and didn't stop being active. The builder wasn't fired by any means, just a rebid required due to design changes and financing changes. It's just been a fucked up roller coaster of city, covid and now financing opportunities which as we know isn't as simple as refinancing a home. Late this year or early next I would expect it to start.

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Re: Two Light - 14th & Grand

Post by flyingember »

KC_JAYHAWK wrote:
Wed Jul 22, 2020 9:01 am
I doubt if the people living in 1 and 2 light are depending on $600 unemployment checks. And with interest rates at 50 year low, perfect time to lock in low financing.
Why not? The owner of a shut down retail business is just as impacted as their workers and they're hit harder with no income in a more expensive apartment. And a couple who lost one income could need $600 to make rent.

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Re: Two Light - 14th & Grand

Post by Walker »

normalthings wrote:
Tue Jul 21, 2020 10:29 pm
Mid July Update: 100% Occupancy
Looks like One and Two are offering a free month of rent (if there were open units).

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Re: Two Light - 14th & Grand

Post by KCTOGA »

DColeKC wrote:
Wed Jul 22, 2020 2:07 pm
TheLastGentleman wrote:
Wed Jul 22, 2020 1:02 pm
I don't think 3 Light has died, but maybe DColeKC can corroborate that. I'm pretty sure I would've heard if it had been killed off.
Very much still alive with future plans to go beyond a 4th residential tower long term. Keep in mind that Cordish also has hundreds of bars, clubs and restaurants located in 8 entertainment districts plus a casino and hotels that were basically shut down earlier this year and currently just paying the bills. Combined with a few multi-million dollar construction projects that were active and didn't stop being active. The builder wasn't fired by any means, just a rebid required due to design changes and financing changes. It's just been a fucked up roller coaster of city, covid and now financing opportunities which as we know isn't as simple as refinancing a home. Late this year or early next I would expect it to start.
Great news!!! Damn Patience's is hard. Already wish we had a rendering of a P&L with more residential towers in place. Damn Patience's is HARD!!! :D

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Re: Two Light - 14th & Grand

Post by KCPowercat »

I just noticed a set of trees on the NE corner on a setback about 4 floors from the top right underneath the Two light sign. Is that another amenity space or a penthouse outdoor space? Based on satellite view looks like an outdoor balcony for a penthouse.

Bet that is windy!

https://www.google.com/maps/@39.0970177 ... a=!3m1!1e3

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normalthings
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Re: Two Light - 14th & Grand

Post by normalthings »

KCPowercat wrote:
Wed Aug 26, 2020 12:36 pm
I just noticed a set of trees on the NE corner on a setback about 4 floors from the top right underneath the Two light sign. Is that another amenity space or a penthouse outdoor space? Based on satellite view looks like an outdoor balcony for a penthouse.

Bet that is windy!

https://www.google.com/maps/@39.0970177 ... a=!3m1!1e3
West side is open to everyone, east side(including brown rectangle) is private space.

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Re: Two Light - 14th & Grand

Post by ULCajun »

Not everyone, you need to live on the 22nd+ floor for your fob to get you up there. Unless they still havn't secured the stairs with a fob, then you can just go up to 21 and take the stairs up.

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Re: Two Light - 14th & Grand

Post by DColeKC »

ULCajun wrote:
Wed Aug 26, 2020 1:50 pm
Not everyone, you need to live on the 22nd+ floor for your fob to get you up there. Unless they still havn't secured the stairs with a fob, then you can just go up to 21 and take the stairs up.
The patio door is fob access only.

The private patio is part of the penthouse that Travis Kelce had. It’s huge and honestly, not too many issues with wind on a regular basis.

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Re: Two Light - 14th & Grand

Post by KCPowercat »

DColeKC wrote:
Wed Aug 26, 2020 2:01 pm
ULCajun wrote:
Wed Aug 26, 2020 1:50 pm
Not everyone, you need to live on the 22nd+ floor for your fob to get you up there. Unless they still havn't secured the stairs with a fob, then you can just go up to 21 and take the stairs up.
The patio door is fob access only.

The private patio is part of the penthouse that Travis Kelce had. It’s huge and honestly, not too many issues with wind on a regular basis.
I knew when I posted that you'd respond with a defense of the wind. Lol.

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