OFFICIAL - Hyatt House (900 Broadway)

[TheUrbanRoo]

They’ve now transferred the tax incentive package to the new team that took over this project

[normalthings]

From park board agenda

22. Resolution #32092 - Considering Board approval of an Encroachment License Agreement with 900 Broadway KC Development Company, LLC for Valet Parking at Hyatt House Hotel for property located at Property 900 Broadway Boulevard. Attachment V

[kboish]

There is an ordinance being introduced today to extend their project timeline to 2026. So this is still alive.

Which by the way, I haven’t seen it mentioned anywhere that the city council passed a new law in April requiring all projects receiving incenyives through the city to be substantially complete within 3 years of their approval. Use it or lose it. awards given prior to the new rule expire in April 2024 unless a new ordinance extends it.

Which is why this project is requesting an extension. Expect more of these to come forward

[Highlander]

There is an ordinance being introduced today to extend their project timeline to 2026. So this is still alive.

Which by the way, I haven’t seen it mentioned anywhere that the city council passed a new law in April requiring all projects receiving incenyives through the city to be substantially complete within 3 years of their approval. Use it or lose it. awards given prior to the new rule expire in April 2024 unless a new ordinance extends it.

Which is why this project is requesting an extension. Expect more of these to come forward

The extension to start the project or finish the project by 2026? That seems like a lot of leeway for starting. Or re-starting as would be the case.

[kboish]

I think ‘substantially complete’ by then

[KCPowercat]

such a great fit project, hoping the get financing figured out.

[langosta]

New developer hopes to develop the hotel project in advance of the World Cup coming to Kansas City in 2026. Old developer will be a minority interest.

[TheUrbanRoo]

New developer hopes to develop the hotel project in advance of the World Cup coming to Kansas City in 2026. Old developer will be a minority interest.

Is that from an article or just a source? Curious because this is great news

[langosta]

New developer hopes to develop the hotel project in advance of the World Cup coming to Kansas City in 2026. Old developer will be a minority interest.

Is that from an article or just a source? Curious because this is great news

LCRA

[KCPowercat]

digging up some delayed projects here, nothing new has been filed plans/permit wise. Site was last inspected back in 2023 for property violations.

[FangKC]

Lender behind stalled KC hotel projects faces federal fraud charges

A Florida man faces indictments from two federal grand juries after he promised multimillion-dollar loans but failed to deliver them to developers behind two Kansas City hotel projects.

David Ingram, 72, is principal and founder of lender AltosGroups LLC. He faces four counts of wire fraud in Kansas federal court, and four counts of making false bankruptcy form declarations and one count of making a false oath or account during a bankruptcy proceeding in Florida federal court.

The wire fraud charges stem from an alleged scheme by Ingram to defraud developers, including those behind a proposed 154-room Hyatt House hotel in downtown Kansas City and a 241-room Hard Rock Hotel in Edwardsville, as well as a third hotel in Kanab, Utah, and an assisted-living facility in Maumee, Ohio.
...
AltosGroups' collapse precipitated a series of lawsuits from the hotel developers against the firm, Ingram and other parties involved. The Hyatt House group still has a case open in Jackson County Circuit Court against the law firm and attorney that represented AltosGroups in its local dealings.
...

https://www.bizjournals.com/kansascity/ ... 2&empos=p4

[TheLastGentleman]

In regards to the lot itself, is there any way for the project (or A project) to move forward on this site in the interim? This is year 4 of this lawsuit isn’t it?