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

[kas1]

Cordish was originally reported to be a partner in the project. What happened to that? The only reason H&R Block still has any rights to that site at all is because Cordish agreed to an extension of the original deal.

[WoodDraw]

I bitch about Copaken sitting on property and being too conservative as much as anyone, but I think 13th and Grand is a different scale of a project. And I second kas1, in wtf happened? It's been clear for awhile that HRBlock didn't have the need for that tower, so why renew and bitch now?

I don't see anything inconsistent with wanting Copaken to build out the land they're sitting on, while still wondering what's going on here.

[DColeKC]

Cordish didn’t agree to anything. H&R had the option to purchase an extension of their original air rights and they exercised that option. It’s no secret that Cordish and HR do not get along.

[WoodDraw]

Cordish didn’t agree to anything. H&R had the option to purchase an extension of their original air rights and they exercised that option. It’s no secret that Cordish and HR do not get along.

Thanks for the clarification.

[WoodDraw]

Walking around here today, I came to a solution for everyone: do a joint venture on both the strata site and 13th and Grand.

Effectively extend the district up Grand and everyone wins. Copaken and Cordish both get something.

[DColeKC]

Walking around here today, I came to a solution for everyone: do a joint venture on both the strata site and 13th and Grand.

Effectively extend the district up Grand and everyone wins. Copaken and Cordish both get something.

I like it!

I know it's a mystery why Copaken has held out from building there for so long. I wonder if they're waiting for something like a NHL tenant or downtown ballpark? Seems like they're missing the boat honestly.

[beautyfromashes]

Effectively extend the district up Grand and everyone wins. Copaken and Cordish both get something.

What does Cordish get? I don’t think they control either of those plots.

[WoodDraw]

Effectively extend the district up Grand and everyone wins. Copaken and Cordish both get something.

What does Cordish get? I don’t think they control either of those plots.

They control the retail at strata and miss losing out on the air rights or getting in a lengthy legal battle.

At 13th and Grand, they could extend the district and market one of the premier lots under their brand name and design it as they please.

I just can't believe that lot still is such a mess.

[beautyfromashes]

But, Cordish doesn’t control 13th and Grand. Why would they want another developer to join their district and benefit from the brand they have created while getting no financial return? And if you are saying 13th and Grand would be transferred to Cordish for them to develop...yeah, that just would never happen.

[WoodDraw]

But, Cordish doesn’t control 13th and Grand. Why would they want another developer to join their district and benefit from the brand they have created while getting no financial return? And if you are saying 13th and Grand would be transferred to Cordish for them to develop...yeah, that just would never happen.

Well I meant it tongue and cheek. And it won't happen.

But I wasn't saying anyone would do anything for free. That's the whole idea behind a joint venture lol. Two sides both have something that the other one wants.

[crazywarriorman]

I was downtown exploring today and got the chance to look over the site of where the new tower will be.

You can see that H&R Block definitely planned on building a second tower evidenced by the the large amount of concrete footings on the rooftop

[TheLastGentleman]

I was downtown exploring today and got the chance to look over the site of where the new tower will be.

You can see that H&R Block definitely planned on building a second tower evidenced by the the large amount of concrete footings on the rooftop

Your picture isn't showing for me

[crazywarriorman]

Oops, here we go

(Lines for reference)

[normalthings]

Oops, here we go

(Lines for reference)

There is a noticeable lack of supports on the left (north) side. I wonder if anything can be built over that side or not.

[TheLastGentleman]

There is a noticeable lack of supports on the left (north) side. I wonder if anything can be built over that side or not.

Nice catch. I'd assume not.

It's fascinating to see a building's structural grid laid bare like this. You can even see the outline of the elevator shaft.

[kboish]

Oops, here we go

(Lines for reference)

There is a noticeable lack of supports on the left (north) side. I wonder if anything can be built over that side or not.

I see supports continuing on the left (past where crazywarriorman drew the black line) at the same interval as the right. They are just harder to see because there are AC units next to them, but they are there.

[DColeKC]

There is a noticeable lack of supports on the left (north) side. I wonder if anything can be built over that side or not.

Nice catch. I'd assume not.

It's fascinating to see a building's structural grid laid bare like this. You can even see the outline of the elevator shaft.

That elevator shaft and entrance is very creepy! It was originally sealed up completely, like a tomb. There’s also a pre-made elevator pit.

[FangKC]

New agreement would reshape KC's deal with Strata project

A revamped plan for the $94 million Strata office tower that would rework the deal between the city and H&R Block Inc. was presented Wednesday to a City Council committee.
...
The new agreement would keep the city's investment at $63 million, and the bonds would be privately issued but still backed by the city. In addition, the city would get all revenue from the parking garage in the new deal.

"This new master development agreement calls for the construction of a 750-space parking garage at a cost not to exceed $36 million," city documents stated. "In addition, the city will guarantee $27 million to support a 28% revenue stake in the Strata office tower itself.
...

https://tinyurl.com/yxnabm6h

[Anthony_Hugo98]

New agreement would reshape KC's deal with Strata project

A revamped plan for the $94 million Strata office tower that would rework the deal between the city and H&R Block Inc. was presented Wednesday to a City Council committee.
...
The new agreement would keep the city's investment at $63 million, and the bonds would be privately issued but still backed by the city. In addition, the city would get all revenue from the parking garage in the new deal.

"This new master development agreement calls for the construction of a 750-space parking garage at a cost not to exceed $36 million," city documents stated. "In addition, the city will guarantee $27 million to support a 28% revenue stake in the Strata office tower itself.
...

https://tinyurl.com/yxnabm6h

So the project is for all intents and purposes back on track?

[langosta]

New agreement would reshape KC's deal with Strata project

A revamped plan for the $94 million Strata office tower that would rework the deal between the city and H&R Block Inc. was presented Wednesday to a City Council committee.
...
The new agreement would keep the city's investment at $63 million, and the bonds would be privately issued but still backed by the city. In addition, the city would get all revenue from the parking garage in the new deal.

"This new master development agreement calls for the construction of a 750-space parking garage at a cost not to exceed $36 million," city documents stated. "In addition, the city will guarantee $27 million to support a 28% revenue stake in the Strata office tower itself.
...

https://tinyurl.com/yxnabm6h

So the project is for all intents and purposes back on track?

Sounds like it to me.