1822 Main Redevlopment

[TheLastGentleman]

[DaveKCMO]

Thankfully they cleaned it up a bit before the sale sign went up. It was really bad this summer.

[DaveKCMO]

Thankfully they cleaned it up a bit before the sale sign went up. It was really bad this summer.

$1,900,000

https://www.investcre.com/properties?fb ... jS6o-TtiC8

[CrossroadsUrbanApts]

Feels like the owners just took a ruler to the last several years' increase in land prices in the Crossroads and picked an asking price. 2013 is $50/foot for land, then by 2016 you are in the $70s, maybe $80s for the REVERB land in 2018, etc. So, eh, let's ask for $125/SF.

In the meantime, (1) political situation changed and you can't count on incentives (nor do I think they should), (2) residential and office development is in a mini-glut with lots of supply coming online and demand stagnant and (3) construction prices are through the roof due to the airport and general high level of construction activity. So even $80/SF feels like a stretch. Price should realistically be down from that. So I could see this sitting for a while at that price. Maybe somebody from out of town with too much money could make a crazy offer. ("Hey, I resemble that remark...")

[DaveKCMO]

So I could see this sitting for a while at that price.

What's another five years of break-ins?

¯\_(ツ)_/¯

[Chris Stritzel]

Thankfully they cleaned it up a bit before the sale sign went up. It was really bad this summer.

$1,900,000

https://www.investcre.com/properties?fb ... jS6o-TtiC8

Rumor is that this is going under contract. I'm not sure who's putting it under contract. Website shows the price was reduced to $1,650,000. Whether the sale goes through here or not, I continue to hope for a higher density housing proposal here.

[normalthings]

14 floors. These renderings are nowhere near as nice as the Reverb ones and iirc Arterra. Must be pretty early or unsure if they can make it work.

https://cityscenekc.com/apartment-tower ... rossroads/

[beautyfromashes]

Won’t happen.

[normalthings]

Won’t happen.

Neighorhood seems against

[Chris Stritzel]

Why are they against it?

[normalthings]

[Chris Stritzel]

Oh no. Now I see why people are against it

[DaveKCMO]

Won’t happen.

Neighorhood seems against

Nope. People who live directly across the alley -- about 20 feet from the proposed structure -- are concerned about impacts to views, parking access, and construction. These are my neighbors and they support density and more neighbors.

The rest of the neighborhood is a question mark since it was just made public today.

FWIW, I like the design and already submitted a letter of support for the Housing Trust Fund.

[TheLastGentleman]

Looks ok to me. It would be nice to preserve the bank facade. I don’t think the strange blue color in the render is representative of real glass

[beautyfromashes]

It's a mirage. Copaken is known to throw these out there for some reason. Property marketing what "could be"! or stacking the number of projects they have "in process". It's a leprechaun.

[DaveKCMO]

It's a mirage. Copaken is known to throw these out there for some reason. Property marketing what "could be"! or stacking the number of projects they have "in process". It's a leprechaun.

For office, sure.
But his Crossroads residential record is solid: Two proposals, both constructed, now occupied, and sold.

[normalthings]

Good to hear then. Dave is that retail along main?

[DaveKCMO]

Good to hear then. Dave is that retail along main?

Yes, two stalls (867 and 1084sf) in the concept I was provided.

[WoodDraw]

Looks good to me.

Also, downtown views changing isn't a valid reason to stop developments. I know it sucks for people that see a decrease in value, but that's life in the city.

[earthling]

A two level garage part of project. Might actually be worth a 3 level garage if offering spaces to Michael's employees/customers and Copaken gets a deal for the surface lot to S of Michaels. Or some kind of mutually beneficial arrangement that gets rid of Michael's lot.

Another option would be Copaken develops Michael's lot into a few floors of apts with no garage, ground retail that Michaels can expand into with a grand corner entrance and the 1822 project has reasonable amount of parking for the two projects plus Michael's requirement.