KCRag Forum

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.

normalthings wrote: ↑Tue Jul 21, 2020 10:29 pm Mid July Update: 100% Occupancy

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.

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.

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.

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.

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.

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.

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.

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.

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.

normalthings wrote: ↑Tue Jul 21, 2020 10:29 pm Mid July Update: 100% Occupancy

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.

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

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.

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.