KCRag Forum

This is good news, cloaked in a sarcastic narrative:

The developer is trying to play the squeeze game -- and has capitulated. The fact the developer capitulated suggests there is sufficient market value in a downtown development -- "the incentive juice is not worth the squeeze."

I am a huge proponent of TIF. ..However the developers in KC-land have learned to exploit the local governments to the point of abuse. The Bravo project was the sugar-coated incentive love festival.

The developer blinked, people. It's good news.

The absolute key to a major correction of the trajectory is to break the lock by the local developers. Companies such as Opus and such..

Strata will be built in some form, I am convinced. It will go down as a monument were the perverted incentives have begun to pivot, however.

normalthings wrote: ↑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).

do tell!

What was the verdict this morning?

.

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.

Removed from today's version of the agreement.

Advance and Do Pass, will go to full council tomorrow.

Strata Office Tower Deal Wins Key Backing from Council Committee

The proposed 25-story Strata office tower development picked up critical support from the City Council Finance Committee Wednesday after its developer returned to City Hall with a significantly reduced financial ask from the city.

The “Power Tower” development team dropped its earlier request that the city authorize is credit be available to backstop financing for the $93 million office tower component and instead is seeking city credit backing for the $36 million garage.
...

https://cityscenekc.com/strata-office-t ... committee/

A number of the council people clearly don't understand how incentives or density's effects on tax revenues work. Strata passed

normalthings wrote: ↑Thu Nov 14, 2019 7:09 pm A number of the council people clearly don't understand how incentives or density's effects on tax revenues work. Strata passed

I didn’t get a chance to watch the proceedings. Can you summarize? I assume Ellington and Loar made more ignorant statements?

horizons82 wrote: ↑Thu Nov 14, 2019 8:08 pm

normalthings wrote: ↑Thu Nov 14, 2019 7:09 pm A number of the council people clearly don't understand how incentives or density's effects on tax revenues work. Strata passed

I didn’t get a chance to watch the proceedings. Can you summarize? I assume Ellington and Loar made more ignorant statements?

Loar almost started crying while making ignorant statements, Robinson and Ellington made ignorant statements, Lucas said that he said on the campaign trail he’d vote no so he did just that.

So far I've seen no leadership from Lucas. He seems like a classic example of please tell me where my people are going so I can lead them. I still can't even tell what he wants to do?

While it seems like Lukas isn’t ideal for development, he still seems far ahead of funkhouser.

Great to crawl over that bar.

The problem with our mayoral system is that most of your power is standing for something and advocating for things. What does he want to do?

Yeah let's not clump them together, he is reasonable at least.

Agreed

Will be satisfied with him if free fare bus can be pulled off, if even a long term trial.

Well, there you have it. A new 25 story building.

Hopefully the building looks nice.

Theresa Loar's comments grate on the nerves. Is she always so annoyingly emotional??? Christ, reading her comments made me cringe as I read it in NY. Impressive "Cringe range".

The current renderings look a little silly; but I said the same thing about the art atop the Bartle pylons, too. One learns to love weird shit.

kenrbnj wrote: ↑Fri Nov 15, 2019 10:15 am

Theresa Loar's comments grate on the nerves. Is she always so annoyingly emotional??? Christ, reading her comments made me cringe as I read it in NY. Impressive "Cringe range".

Yes

Is a Q4 2019 start still possible? Assuming they advanced design and financing during the negotiations process?

They are projecting it will take two full years to build. I thought it might take less time since they're not moving dirt.