KCRag Forum

New renderings showing the red brick. These come from the LuxLiving website.

Project advanced to full council.

About as ideal as infill can get (for this size of project) if pulled off as rendered and appropriate level of street retail. Even if not fully engaging street level retail at first, it looks conducive enough to adapt over the future as streetlife and market conditions justify it.

HKC callling on people to show up at hearings and contact council members in support of incentives. Says this probably only way to save Katz.

So this project was proposed with incentives in mind? I can't recall. I know I really like the project, especially as it keeps the old Katz building, renovates it and builds new around it. Is project in financial trouble? IF it does not get incentives will the proposal end? If so will building be tore down? Just curious, as I am not up to date on this since April and the last renderings

I don't think it was ever off the table that Lux would seek incentives here, just it was never made clear.

Even if they don't end up seeking incentives, I'd say that the HKC push is a precaution just to keep people engaged with this who want to see Katz saved.

I don’t really see the katz getting demolished in any scenario but worse things have happened in kc

TheLastGentleman wrote: ↑Tue Jun 08, 2021 12:11 pm I don’t really see the katz getting demolished in any scenario but worse things have happened in kc

I think that's only the case here because the previous owner specified that in the sale, right? Any other owner would have leveled it.

It's on the KCMO Register, so presumably Landmarks would have to ok the demolition?

dukuboy1 wrote: ↑Tue Jun 08, 2021 11:45 am So this project was proposed with incentives in mind? I can't recall. I know I really like the project, especially as it keeps the old Katz building, renovates it and builds new around it. Is project in financial trouble? IF it does not get incentives will the proposal end? If so will building be tore down? Just curious, as I am not up to date on this since April and the last renderings

So this project was proposed with incentives in mind?
Yes, both historic credits and city incentives

So this project was proposed with incentives in mind?
I think there is a potential alternate that most wouldn't be supportive of.

IF it does not get incentives will the proposal end?

Project as proposed needs incentives. Extreme construction cost increases with minimal/no rent increases is making project development even harder. no incentives will require significant VE and may still not work (think podium garage instead of below ground/wrapped, etc)

If so will building be tore down?
The building is otherwise unused. I don't think the church hasn't been the best with upkeep.

chaglang wrote: ↑Tue Jun 08, 2021 4:19 pm It's on the KCMO Register, so presumably Landmarks would have to ok the demolition?

Doesn't that just delay things? Wasn't aware it had total veto power.

This case has already been approved by the commission. If a new case came up where someone wanted to demolish instead, the commission would have another case. If demolition was not approved, it would delay the project...but it would still be hard to completely stop the project.

That is why the city needs organizations like HKC to supplement gov. When they get the right people upset, projects get stopped!

thanks for the info. Hope this project is able to move forward. Good looking building/project on a very prominent corner of Main & Wesport Rd. Could serve as the Gateway to the neighborhood on the East, with Westley on Broadway to the West. 2 big places for residents along with others close by will hopefully create a more vibrant neighborhood in Westport

Katz developer obviously trying to exploit any incentive they can get, exploit is putting it lightly. They will benefit hugely being on streetcar line, able to charge premium rent.

https://cityscenekc.com/katz-redevelopm ... car-route/

I mean, preserving a building and integrating a facade is costly. Not sure if it warrants 25 years of abatement under a model Quinton Lucas pushed for a few years ago, but they are necessary to preserve the building. There’s room for negotiation here though and I expect that’s what will happen.

Has it been demonstrated that apartments on the streetcar line in Midtown will rent for more than those not on the line? If that could be proven, then I’d say there’s an argument for reducing or denying incentives, If not, then I don’t see the logic.

City Club converted floors into Airbnb’s. The Netherlands even changed its name to “hotel and residences.” Wouldn’t be happening if they could fill units with renters

Chris Stritzel wrote: ↑Fri Jun 11, 2021 5:07 pm I mean, preserving a building and integrating a facade is costly.

Of which many pre-1950 building conversions have accomplished w/out incentives (or incentives specific to those challenges).

missingkc wrote: ↑Fri Jun 11, 2021 5:15 pm Has it been demonstrated that apartments on the streetcar line in Midtown will rent for more than those not on the line? If that could be proven, then I’d say there’s an argument for reducing or denying incentives, If not, then I don’t see the logic.

Obviously can't given not open in Midtown yet but look at rents for any comparable building downtown near streetcar stop vs. a comparable that is not within walking distance. Yes there will be exceptions and other amenities are factors but higher rents near desirable transit is the case anywhere in world for most part. And KC's version is a free horizontal elevator ride to numerous amenities along line. A little surprising that's not obvious.

If City gives in, they are being played. Interest rates are low, rents will likely be high enough to cover project. If materials cost is issue due to recent supply constraints, wait to trigger project, don't ask city to cover it.

Youse guys have been here long enough and should know what's going down. Can't blame them for playing these cards but they are indeed milking what they can. If they couldn't handle extras involved with historical aspect, they shouldn't have gotten in the game to begin with.

missingkc wrote: ↑Fri Jun 11, 2021 5:15 pm Has it been demonstrated that apartments on the streetcar line in Midtown will rent for more than those not on the line? If that could be proven, then I’d say there’s an argument for reducing or denying incentives, If not, then I don’t see the logic.

Yes, apparently by the city's own economic development consultant -- extrapolated to Midtown as there is no streetcar yet in Midtown.

Friedman reported that it’s market research had found apartments within a quarter-mile of the streetcar route rented on average 15 percent more than other locations.

https://cityscenekc.com/katz-redevelopm ... car-route/