OFFICIAL: Port Authority Riverfront Project

[Anthony_Hugo98]

Cordish heads to the Riverfront via Port KC RFP. Lot south of Current stadium.

The Port Authority of Kansas City tapped The Cordish Cos. to build a large mixed-use project that would fill in the last big development site at Berkley Riverfront.

A selection committee recently chose a team that includes Baltimore-based Cordish and Parking Company of America through a request for proposals to develop the riverfront's Parcel 9, a 4.57-acre site southwest of Interstate 29 and Front Street, across from the Kansas City Current's coming multipurpose stadium.
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The RFP specified that the plan should include one or more among several components — at least 350 apartments; 10,000 square feet of retail, such as food, beverage and entertainment venue space; 100,000 square feet of office; and 200 boutique hotel rooms. The chosen uses could be built above, wrapped around or adjacent to the garage, which is required to start with 1,000 spaces for year-round public use.

https://www.bizjournals.com/kansascity/ ... oject.html

These specs make me think we’re going to see a lot of damn height on this one.

[DColeKC]

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[GRID]

This is pretty amazing. Does Cordish have the means to be involved with so many projects in one market? Are they really going to be putting up buildings in three different developments at the same time when they are pretty conservative with the the spacing of the light towers?

Regardless, that end of the Riverfront is going to be a beast if all this stuff happens as planned.

On a side note, is the lux living project still a go down there?

[KCPowercat]

Cordish heads to the Riverfront via Port KC RFP. Lot south of Current stadium.


https://www.bizjournals.com/kansascity/ ... oject.html

These specs make me think we’re going to see a lot of damn height on this one.

This has been in the works for two years and I'm glad we can finally talk about it on here.

Cool, bet it's exciting to see it go public.

[TheUrbanRoo]

Heighth at Berkely? oooh

[FangKC]

I would have preferred another developer doing Parcel 9. I just think it would be built out faster, and another developer would have more incentive to move forward. For example, I don't think Cordish will build the apartments if there is any chance it will compete against leasing one of their other buildings inside the Downtown Loop.

I think Cordish is doing a Copaken here. They are grabbing hold of potential development sites before other developers can, and will take their sweet time building the projects.

The parking garage will probably get done, but I'm betting the entire Current KC development will be completely built out before Cordish starts on their non-parking garage projects on Parcel 9. They will do 4 Light, Strata, and the two buildings south of Truman Road before they build anything on the riverfront. Mark my words.

Kansas City really needs to start seeking other big developers from outside the Metro to do projects here. Doesn't the City Manager have any relationships with big developers from his time in Jersey City?

[langosta]

I would have preferred another developer doing Parcel 9. I just think it would be built out faster, and another developer would have more incentive to move forward. For example, I don't think Cordish will build the apartments if there is any chance it will compete against leasing one of their other buildings inside the Downtown Loop.

I think Cordish is doing a Copaken here. They are grabbing hold of potential development sites before other developers can, and will take their sweet time building the projects.

The parking garage will probably get done, but I'm betting the entire Current KC development will be completely built out before Cordish starts on their non-parking garage projects on Parcel 9. They will do 4 Light, Strata, and the two buildings south of Truman Road before they build anything on the riverfront. Mark my words.

Kansas City really needs to start seeking other big developers from outside the Metro to do projects here. Doesn't the City Manager have any relationships with big developers from his time in Jersey City?

Somera is scaling up in the metro. Milhaus is pretty active.

Rents vs Highrise Construction Costs in KC do not pencil. At the same time, many parcels are priced so high that they only pencil on a $ land / unit basis if you build highrise.

There is National competition in the wood frame and historic renovation market but highrises are expensive and need comprehensive incentive packages given where costs vs. rents are. It’s why only Cordish, with their big incentive package, has done towers so far.

You might see some local or family developers do something eventually but a national developer is going to need strong steady returns for their institutional backers (think retirement funds, insurers, etc).

MAC is an example of a National Player who started small locally, finally got comfortable enough to take a leap, and then was shot down. They had some big planes in the pipeline that died when their Armour & Main project went down.

[KCtoBrooklyn]

Milhaus is pretty active.

They do have some projects still going on, but it seems like a number of their plans have either stalled or died. 31st and Troost seems like it has had zero movement. Linwood and Troost may be coming back (partnered with UC-B) but it has been stalled for quite some time. They had an option to purchase more land from Hallmark for further phases of the Gallerie development, but that appears to have not happened.

MAC is an example of a National Player who started small locally, finally got comfortable enough to take a leap, and then was shot down. They had some big planes in the pipeline that died when their Armour & Main project went down.

I was under the impression that Armour and Main is still happening, just without incentives and scaled down. Am I mistaken?

[DColeKC]

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[GRID]

^ Cordish has done great things, but they have not proven they can do multiple projects at once. Look how long it took Midland to get going. I might change my mind if the crossroads project doesn't take ten years and even more if they can start that project AND four light during the same time.

I'm not saying anybody else could do better, but I just don't see Cordish building anything besides the garage for a very long time. Cordish needs to stay focused on the projects they have so they can get done in a timely fashion. I just hope the riverfront doesn't just slow everything down even more.

Still nice to see the port authority having bigger plans for that end of the park though.

[DColeKC]

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[GRID]

Casinos ruin everything about cities. They are totally self contained, and typically interact with the areas around them horribly. Nothing positive comes from them. They are the absolute worst parts of any city they are in as far as vibrancy etc. Even whey they replace blight, they replace it with a totally different kind of blight. You can look at any city in the usa or abroad and see this outside of Vegas and the casino hotels in Vegas off the strip are not great.

I hope KC's casinos stay where they are and don't expand into any actual neighborhoods.

Just my opinion.

I take that back, the Cordish casino and hotel at the Arundel Mills Mall is fine. Just like the MGM at National Harbor is fine. But casinos in more urban areas or neighborhoods are just terrible.

[DColeKC]

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[DColeKC]

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[GRID]

But I think more new construction would grow the market. That's how it has happened in every other city. KC is only going to attract so many new people to the metro, so yeah only depending on those people might keep things slow. I thought by now, there would be more of a local cultural change to get more people that already live in metro KC to choose more urban options.

[GRID]

Casinos ruin everything about cities. They are totally self contained, and typically interact with the areas around them horribly. Nothing positive comes from them. They are the absolute worst parts of any city they are in as far as vibrancy etc. Even whey they replace blight, they replace it with a totally different kind of blight. You can look at any city in the usa or abroad and see this outside of Vegas and the casino hotels in Vegas off the strip are not great.

I hope KC's casinos stay where they are and don't expand into any actual neighborhoods.

Just my opinion.

I take that back, the Cordish casino and hotel at the Arundel Mills Mall is fine. Just like the MGM at National Harbor is fine. But casinos in more urban areas or neighborhoods are just terrible.

I don't disagree that older casino models work this way, but things have changed and this is somewhat of a "stadium" district. A thousand space parking garage will be a very expensive endeavor and you'd think they'd be looking for other ways to fill that garage up on non-game days.

I don't care either way, but it seems like prime opportunity for them to do something similar to Philly.

What did Philly do? I'm in Philly all the time and I honestly don't know.

[GRID]

NM, you mean the hotel casino at the sports complex. Yeah. I would not want that in the riverfront. Maybe by the speedway or at Arrowhead Stadium I guess.

Just not a fan of casinos I guess especially in urban areas. To each their own though.

[DColeKC]

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[DColeKC]

NM, you mean the hotel casino at the sports complex. Yeah. I would not want that in the riverfront. Maybe by the speedway or at Arrowhead Stadium I guess.

Just not a fan of casinos I guess especially in urban areas. To each their own though.

Understood, for sure just a thought I'm tossing out there. Current Missouri laws wouldn't make it possible anyway.

[langosta]

Hotel facing Berkley Parkway with the casino itself along the interstate or rail tracks?