OFFICIAL: Power & Light District

[DColeKC]

Not 100% sure, but I think a very small PNC bank location (likely virtual) will be going into the PNC Plaza.

[KCPowercat]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

[normalthings]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

It would make sense if P&L tries to be more of a neighborhood over time.

[DColeKC]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

Think about where these are going in. Small locations that were once rented.

Also, times are changing and landlords certainly can't be as picky, especially when you were formally 96% leased.

The only location they've held out on and demanded a premium is the location at the corner of 14th and Main. It's not like it's their overall policy to "keep spaces empty".

[KCPowercat]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

It would make sense if P&L tries to be more of a neighborhood over time.

Agreed. P&L neighborhood amenities are what I use most down there. a bunch of bank fronts isn't a great neighborhood amenity and further lowers the revenue coming in that has to be covered by the city.

[KCPowercat]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

Think about where these are going in. Small locations that were once rented.

Also, times are changing and landlords certainly can't be as picky, especially when you were formally 96% leased.

The only location they've held out on and demanded a premium is the location at the corner of 14th and Main. It's not like it's their overall policy to "keep spaces empty".

I'm much to lazy to search for this but I remember clearly some old Cordish "insiders" on here responded to complaints about empty storefronts that they weren't going to fill the spaces with just anything. Times have definitely changed.

[DColeKC]

P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?

Think about where these are going in. Small locations that were once rented.

Also, times are changing and landlords certainly can't be as picky, especially when you were formally 96% leased.

The only location they've held out on and demanded a premium is the location at the corner of 14th and Main. It's not like it's their overall policy to "keep spaces empty".

I'm much to lazy to search for this but I remember clearly some old Cordish "insiders" on here responded to complaints about empty storefronts that they weren't going to fill the spaces with just anything. Times have definitely changed.

I've seen those responses and remember the argument being made. They have to be selective of what tenants they allow to rent to not create too much unhealthy competition. Letting a national high end burger chain come into the 14th and main spot for example would damage BRGR. I believe they have a few spots they want to make sure a proper tenant goes into. The 14th and main spot has long been the biggest hold out. That space could easily be expanded to include Zafar and Polished Edge, giving you 9500 sq. ft. for a major retailer like Target.

Other odd or less desirable locations like the old GNC and the old MeMas are easier to part with and as you all know, demand less in rent.

[KCPowercat]

That's why BOA at the old Kaldi's place seems like a waste of a prime spot. This PNC thing doesn't seem like a big deal.

[DColeKC]

That's why BOA at the old Kaldi's place seems like a waste of a prime spot. This PNC thing doesn't seem like a big deal.

I can’t disagree about the BOA location. Only thing I can think of is the fact that banks as tenants are typically a solid long term play and if they sign a 10 year lease, that’s hard to pass up. Especially with the current state of retail in general.

[KCPowercat]

I can see the long term play. Bottom line my main concern is how P&L impacts the general fund so decisions to sign banks to prime retail hurts the ability to pay that debt down with spending dollars. We all agree it was a good investment for the city given the infrastructure and rebuilding of a neighborhood but that doesn't mean we shouldn't expect best effort to help the city pay down the debt with tax paying entities.

edit..additionally my other goal is what adds value to the neighborhood that makes it easier and more desirable to live downtown. Bank lobbies aren't it (just like we all have the concern when this started happening the crossroads)

[mgsports]

What Downtown needs is something new to area like Meijer but to small.

[smh]

What Downtown needs is something new to area like Meijer but to small.

Perhaps a TJ's.

[mgsports]

BJ's but a Southeast Chain.

[dukuboy1]

There is a BOA branch in 1 KC Place. I don't see them relocating as they "remodeled" that branch recently with their new concept. Saves them money on moving, and I'm sure rent is higher in P&L. I would not want that move and I realistically don't see it

[smh]

There is a BOA branch in 1 KC Place. I don't see them relocating as they "remodeled" that branch recently with their new concept. Saves them money on moving, and I'm sure rent is higher in P&L. I would not want that move and I realistically don't see it

If I'm not mistaken there are permits pulled. It isn't hypothetical.

[normalthings]

There is a BOA branch in 1 KC Place. I don't see them relocating as they "remodeled" that branch recently with their new concept. Saves them money on moving, and I'm sure rent is higher in P&L. I would not want that move and I realistically don't see it

If I'm not mistaken there are permits pulled. It isn't hypothetical.

There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.

[dukuboy1]

There is a BOA branch in 1 KC Place. I don't see them relocating as they "remodeled" that branch recently with their new concept. Saves them money on moving, and I'm sure rent is higher in P&L. I would not want that move and I realistically don't see it

If I'm not mistaken there are permits pulled. It isn't hypothetical.

There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.

could be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some level

[flyingember]

If I'm not mistaken there are permits pulled. It isn't hypothetical.

There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.

could be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some level

It would make sense if they were planing to open their retail space in a better location and then later setup a brand new office those kinds of relationships that's accessible by appointment only and is much fancier than what they have today. I would be surprised if Commerce doesn't have boardrooms setup for this purpose downtown, because it's their HQ, and Bank of America is trying to compete with the same level of service.

[mean]

If I'm not mistaken there are permits pulled. It isn't hypothetical.

There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.

could be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some level

I haven't banked with an institution with physical locations since... maybe 1997 or 1999? Somewhere in there. I haven't interacted with a human being regarding my banking needs in any meaningful way in that time and it's been glorious imo.

edit: OH except for mortgage stuff. They are SO old fashioned in that regard that it was a bit of a shock to my system that I had to TALK TO PEOPLE and they wanted to MEET IN PERSON. It was very off-putting. I would have for sure done another refi by now if some pioneering genius would eliminate all the CALL US TO TALK ABOUT THIS SHIT nonsense and just let me click my way through a refi. I didn't click on "I'm interested in refinance options" so I could be presented with a phone number and no other options, ya doofus. </rant>

[shinatoo]

There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.

could be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some level

I haven't banked with an institution with physical locations since... maybe 1997 or 1999? Somewhere in there. I haven't interacted with a human being regarding my banking needs in any meaningful way in that time and it's been glorious imo.

edit: OH except for mortgage stuff. They are SO old fashioned in that regard that it was a bit of a shock to my system that I had to TALK TO PEOPLE and they wanted to MEET IN PERSON. It was very off-putting. I would have for sure done another refi by now if some pioneering genius would eliminate all the CALL US TO TALK ABOUT THIS SHIT nonsense and just let me click my way through a refi. I didn't click on "I'm interested in refinance options" so I could be presented with a phone number and no other options, ya doofus. </rant>

I refi-ed through Mazuma this summer, no human interaction, just a secure site and some e-mailing. Less talking to people than the car I leased. Rates are so low you really must refi if at all possible. I went from a 30 year to a 15 with a small bump in my mothly payment. Pleanty of other options out there for online refi. Rocket and Quicken come to mind.