P&L District: 12th & Main Site Proposal

trailerkid · Post by **trailerkid** » Wed Oct 27, 2004 4:20 pm

Jones Store site owner's plans don't get out of park
Jim Davis
Staff Writer

Downtown Kansas City is proving less hospitable to Time Equities Inc. than company officials had hoped last year, when they bought City Center Square and the former Jones Store Co. building.

Time Equities wanted to demolish the former department store to make way for a garage that would allay parking shortages for City Center Square, across the street at 1100 Main St. Those plans, contained in an October 2003 tax abatement request, never materialized.

In September, the city received approval from Jackson County Circuit Court to condemn the Jones Store building to add the property to the proposed Kansas City Live entertainment district being developed by The Cordish Co.

"We clearly would not have bought City Center Square or paid what we did had there not been the Jones Store site and the opportunity to improve the performance of City Center Square," said Phillip Gesue, Time Equities' acquisitions director.

Gesue said Time Equities continues what he called good-faith negotiations with Kansas City officials. But he suggested that the city was playing favorites by forcing Time Equities to sell the Jones Store building, which covers most of the block south of 12th Street between Walnut and Main streets.

"I feel it's inequitable," Gesue said. "Most lay people I've discussed this with understand the value of the Jones Store property to City Center Square. The city hasn't shared that view."

Jerome Wallach, a St. Louis-area eminent domain lawyer representing Time Equities, said he won't challenge the condemnation of the Jones Store building.

"Time Equities has virtually no option," he said. "We have to hope just compensation is met. That's the best we can hope for."

Wallach said he'll urge court-appointed condemnation commissioners to set a compensation award that reflects the property's value to City Center Square. The award could be made within a month.

"Is there a plan B?" Wallach said. "I know of no plan B. We have a severe detrimental impact on City Center Square."

Time Equities paid $32.1 million, or $50 a square foot, for City Center Square, Block & Co. Inc. reported. The purchase price for the Jones Store building wasn't available. The Archon Group, which sold the property to Time Equities, paid about $4.5 million for the building in 2001.

Herb Hardwick of the Hardwick Law Firm LLC, who represents the Tax Increment Financing Commission of Kansas City in the condemnation, declined to comment on the property's value.

A plan for the downtown entertainment district filed in June said the Jones Store block would contain a supermarket, health club and six smaller tenants.

Officials at Cordish Co., the district's developer, could not be reached for comment.

Andi Udris, CEO of the Economic Development Corp. of Kansas City, said plans for the Jones Store block haven't changed. Udris said the block would contain stores, possibly topped by housing, and parking.

City Center Square has suffered from a lack of parking since the building opened in 1977. The building's garage contains about 350 spaces, roughly half a space for each 1,000 square feet of building space. This ratio is less than those of comparable downtown buildings, most of which provide at least two spaces per 1,000 square feet.

Gesue said almost all of the City Center Square garage's spaces are used. Future tenants will have to park elsewhere, he said. This requirement "eliminates larger users that require guaranteed parking," he said.

"You just stop leasing," he said. "You don't sign any more and hope you renew the tenants you have."

Occupancy at City Center Square, 78 percent when Time Equities bought the building in December 2003, now stands at 76 percent. Gesue said leasing activity has improved after a slow summer. He said that he hopes that the building will reach the downtown average, now 85 percent, but that the improvement could take as long as two years.

Reach Jim Davis at 816-421-5900 or jdavis@bizjournals.com.

Â© 2004 American City Business Journals Inc.

Post by **staubio** » Wed Oct 27, 2004 4:50 pm

85% leasing rate? I assume this differs from occupancy rate -- but that seems really good.

Funny when they perceive that a parking structure will add more value than a vibrant new district. Who cares if we put your building in the heart of an exciting new area -- where will they park?

trailerkid · Post by **trailerkid** » Wed Oct 27, 2004 11:38 pm

staubio wrote:85% leasing rate? I assume this differs from occupancy rate -- but that seems really good.

Funny when they perceive that a parking structure will add more value than a vibrant new district. Who cares if we put your building in the heart of an exciting new area -- where will they park?

Exactly, man. So backwards-thinking some of these developers and realators are. A built up city with great transit negates the need for any gigantic parking garages with 1 1/2 spaces per occupant. People actually using transit to access their location is completely unimaginable to these dopes.

Post by **KCMax** » Fri Oct 29, 2004 2:21 pm

"No one goes there anymore. Its too crowded."

-Yogi Berra

Dr. Know · Post by **Dr. Know** » Fri Dec 03, 2004 5:39 pm

I think it's a shame that the city couldn't work out a win win situation with this block with Time Equity and Cordish. Would it have been impossible to configure the block to allow for the parking and the P & L development. From what I understand it was a cost issue but I don't understand why the city wouldn't strengthen City Center Square. Wouldn't be in the cities best interest to have a fully leased building next to P & L. It's almost a robbing Peter to pay Paul scenario which is not a good precedent.

tat2kc · Post by **tat2kc** » Fri Dec 03, 2004 6:29 pm

I agree. Surely they could have done something to allow parking for City Center. It would have made leasing more attractive to potential tenants, which, in turn, would have provided more foot traffic for the district.

KCPowercat · Post by **KCPowercat** » Fri Dec 03, 2004 6:37 pm

well this block does have SOME parking. I doubt what Time Equities wanted. I know this can be worked out, we don't NEED more parking down here.

macnw · Post by **macnw** » Sun Dec 05, 2004 11:19 am

One of the ideas I would love to see downtown is a Trader Joe's, with residential built on top of it. I have never seen TJ's with this set up. Usually, TJ's takes over some older building a creates a store. KC could make a statement with a ground level TJ's and a 15 story residential tower above it. Why or why not?

Dr. Know · Post by **Dr. Know** » Wed Dec 08, 2004 1:58 pm

KC Powercat wrote

we don't NEED more parking down here.

Time Equities might argue with you on that one.

thedream · Post by **thedream** » Wed Dec 08, 2004 2:31 pm

Parking is not going to be a problem after this is all done. Besides if you have a real problem then valet your car for $3. Yes I am positive alot of these new places will have valet service.

moderne · Post by **moderne** » Wed Jan 12, 2005 3:47 pm

Whats going to happen to the skywalk system connecting the Towne Pavillion to its garage when the Jones Store is demolished? Doesn't a small section of the passage enter the building between the 12th St. bridge and the Chambers Bldng.?

KCPowercat · Post by **KCPowercat** » Wed Jan 12, 2005 3:51 pm

It will have to come down as well I'd guess but since there will be a garage replacing it maybe they will build a new skywalk.

kcteen · Post by **kcteen** » Wed Jan 12, 2005 3:55 pm

didn't the downtown council outline a reccomendation discouraging skywalks because they detract from street-level activity? I hope to one day see all the skywalks taken down, personally. Get people out on the streets.

Tosspot · Post by **Tosspot** » Wed Jan 12, 2005 4:00 pm

kcteen wrote:didn't the downtown council outline a reccomendation discouraging skywalks because they detract from street-level activity? I hope to one day see all the skywalks taken down, personally. Get people out on the streets.

Teen,

I believe that in the purview of planning and urban design, skywalks are discouraged for precisely that reason. Indeed, they are only necessary when streets have been overly-widened and the speed limit notched upwards by the traffic engineers in the first place- making pedestrianism a dangerous undertaking.

kurtiebird · Post by **kurtiebird** » Wed Jan 12, 2005 4:19 pm

Here's what our December Town Pavilion newsletter has to say about the walkway:

Detours Ahead
In order to accommodate all of the exciting new activity in downtown Kansas City, a part of the walkway to the Town Pavilion garage will be closed for up to nine months, starting sometime in the next few months. An alternate route, or detour, between the building and the garage will take patrons to the street level and across to the entrance adjacent to the 1201 Walnut building. The walkway closing is necessary for the time it will take to raze the former Jones Store building.

Highlander · Post by **Highlander** » Wed Jan 12, 2005 4:22 pm

Tosspot wrote:
kcteen wrote:didn't the downtown council outline a reccomendation discouraging skywalks because they detract from street-level activity? I hope to one day see all the skywalks taken down, personally. Get people out on the streets.
Teen,

I believe that in the purview of planning and urban design, skywalks are discouraged for precisely that reason. Indeed, they are only necessary when streets have been overly-widened and the speed limit notched upwards by the traffic engineers in the first place- making pedestrianism a dangerous undertaking.

Unless they have been recently removed, Minneapolis has a large amount of skywalks. The stated purpose of these was to protect people from the extreme cold during the Minnesota winter.

Gladstoner · Post by **Gladstoner** » Fri Apr 08, 2005 9:40 pm

Jones Store building demolition to start in two weeks, according to:

http://www.kcmo.org/cco.nsf/49316057a17 ... enDocument

Big Red Storm · Post by **Big Red Storm** » Sat Apr 09, 2005 11:50 am

Great news!

I'm really excited for what's going to happen with this block.Â Does anyone know how soon they would start building the residential towers?

kurtiebird · Post by **kurtiebird** » Mon Apr 11, 2005 2:58 pm

Update on Jones Store: I just received this email message forwarded to us from Town Pavilion management office:

The walkway from the parking garage to Town Pavilion will close this Thursday, April 14th. You will notice new "detour" signage on Wednesday, April 13th directing tenants and visitors from the Town Pavilion Garage to the Town Pavilion via street level access. The detour will route tenants and visitors to exit the Town Pavilion parking garage via the street level exit on Level A of the parking garage immediately next to the 1201 Walnut revolving door entrance. Once outside the Walnut street exit of the parking garage, signs will guide tenants and visitors across 12th street and then Walnut street to the 12th Street entrance of the Town Pavilion. This route will then be reversed to guide people back to the parking garage.

The abatement and demolition are scheduled to last 160 days. At that time, the ground will be turned over to Cordish to begin development of the block. Updates will be sent as known for progress reports and re-opening information. Currently, there is not a re-open date established. We apologize again for this inconvenience. Please let us know if we can assist in any way.

No longer affects me, I ride the bus.

Tosspot · Post by **Tosspot** » Mon Apr 11, 2005 8:22 pm

So does this mean they'll tear down that infernal skywalk between Pavillion and Jones? I hope so, as it blocks my view of the Chambers Lofts.

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