OFFICIAL - Hyatt House (900 Broadway)

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Chris Stritzel
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by Chris Stritzel »

Too bad this project is stalled, it would've made an impact from multiple angles. At least the crane is still up so maybe there's still hope that construction will start back up.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

Yeah the crane remaining up gives me hope something will go there.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by flyingember »

Are they paying for the crane or is construction demand down so much that it's cheaper for the owner to leave it up until a place to take it is identified?

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TheLastGentleman
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by TheLastGentleman »

I’ve heard construction is supposed to restart by the end of September

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by Riverite »

TheLastGentleman wrote:
Thu Aug 27, 2020 1:05 pm
I’ve heard construction is supposed to restart by the end of September
That’s great! I really wanna see this finished

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by hartliss »

https://www.bizjournals.com/kansascity/ ... 0#cxrecs_s


Pedersen Development Co. could resume work on a 13-story, 154-room Hyatt House hotel at 900 Broadway once the Land Clearance for Redevelopment Authority gives the go-ahead to substitute in a new construction lender.

The LCRA is scheduled Sept. 30 to decide whether the Colorado-based developer can replace AltosGroups LLC, against which Pedersen filed a federal lawsuit in June, with BCP Hyatt House LLC, an entity of real estate investment firm Bowl Capital Partners, based in Scottsdale, Ariz.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

great news.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by DaveKCMO »

KCPowercat wrote:
Thu Sep 24, 2020 9:23 am
great news.
Unless you're the downtown Marriott.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

DaveKCMO wrote:
Thu Sep 24, 2020 1:35 pm
KCPowercat wrote:
Thu Sep 24, 2020 9:23 am
great news.
Unless you're the downtown Marriott.
Not really competing for the same customer.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by DaveKCMO »

In a world of single-digit occupancy, traditional market rules may not apply.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by earthling »

KCPowercat wrote:
Thu Sep 24, 2020 1:37 pm
DaveKCMO wrote:
Thu Sep 24, 2020 1:35 pm
KCPowercat wrote:
Thu Sep 24, 2020 9:23 am
great news.
Unless you're the downtown Marriott.
Not really competing for the same customer.
Extended stay hotels are apparently recovering pretty well now, much better than convention/event hotels. They are maybe grabbing some of the reluctant AirBNB crowd, while AirBNB seems to be expanding into a 'live anywhere' segment as work from anywhere jobs grow as well as college bookings.

https://www.hotelbusiness.com/extended- ... rettyPhoto

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GRID
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by GRID »

earthling wrote:
Thu Sep 24, 2020 7:08 pm
KCPowercat wrote:
Thu Sep 24, 2020 1:37 pm
DaveKCMO wrote:
Thu Sep 24, 2020 1:35 pm


Unless you're the downtown Marriott.
Not really competing for the same customer.
Extended stay hotels are apparently recovering pretty well now, much better than convention/event hotels. They are maybe grabbing some of the reluctant AirBNB crowd, while AirBNB seems to be expanding into a 'live anywhere' segment as work from anywhere jobs grow as well as college bookings.

https://www.hotelbusiness.com/extended- ... rettyPhoto
I don't have any idea how the occupancies are in downtown KC or at any specific hotel, but when we stayed at the Loews for a few nights a month ago, it was surprisingly busy considering everything that's going on and that there was pretty much no reason to stay in downtown KC at the time. Hard to tell how full it really was though.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

Lots of people (like me) are just going to the Loews to hang out at the couple outdoor spaces they have too. Not sure where you saw the busy'ness Grid but that maybe part of it.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by Rabble »

Guy at Brinkmann told me this project is going nowhere. He thinks the crane will be down by new years. I thought this project would do so much for this section of Broadway. Hopefully just mothballed.

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normalthings
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by normalthings »

Rabble wrote:
Fri Nov 20, 2020 7:28 pm
Guy at Brinkmann told me this project is going nowhere. He thinks the crane will be down by new years. I thought this project would do so much for this section of Broadway. Hopefully just mothballed.
Sad but not unexpected at this point. Hopefully, it can be resurrected as a hotel or apartment sometime soon.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by Rabble »

normalthings wrote:
Fri Nov 20, 2020 7:36 pm
Rabble wrote:
Fri Nov 20, 2020 7:28 pm
Guy at Brinkmann told me this project is going nowhere. He thinks the crane will be down by new years. I thought this project would do so much for this section of Broadway. Hopefully just mothballed.
Sad but not unexpected at this point. Hopefully, it can be resurrected as a hotel or apartment sometime soon.
A lot of money has been invested in that hole. I don't see it going back to surface parking.

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KCPowercat
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

I'm holding out hope.

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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by flyingember »

Rabble wrote:
Fri Nov 20, 2020 7:48 pm
normalthings wrote:
Fri Nov 20, 2020 7:36 pm
Rabble wrote:
Fri Nov 20, 2020 7:28 pm
Guy at Brinkmann told me this project is going nowhere. He thinks the crane will be down by new years. I thought this project would do so much for this section of Broadway. Hopefully just mothballed.
Sad but not unexpected at this point. Hopefully, it can be resurrected as a hotel or apartment sometime soon.
A lot of money has been invested in that hole. I don't see it going back to surface parking.
35 cars at $120 per month is $50k per year. Over 30 years that’s $1.5 million.
At $20 per day filling 20 spots 300 days a year that’s $120k per year

Fill it with dirt and add a simple concrete slab. Someone can gain a lot of money filling in a hole after buying it off the bank for less than they have in it.
Last edited by flyingember on Sat Nov 21, 2020 5:25 pm, edited 1 time in total.

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KCPowercat
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by KCPowercat »

Math!

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DaveKCMO
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Re: OFFICIAL - Hyatt House (900 Broadway)

Post by DaveKCMO »

Who's paying $120/mo for surface parking in the loop? :roll:

Also, you forgot to subtract the TDD assessment for public surface public parking.

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