KCRag Forum

miz.jordan17 wrote:Is there anything we can do to persuade companies to come back downtown? Do you think revitalization will help lure them back?

I think we are doing what needs to be done to lay the groundwork to make downtown attractive for businesses again.

Most of the serious blight has been removed inside the Loop. The Sprint Center and Power & Light District have brought back entertainment and restaurants. There are more hotel rooms.

The streetcar line provides incentive to get rid of large surface parking lots, which contributed to lack of activity.

The Community Improvement District's Public Safety Ambassadors (yellow jackets) help provide a sense of safety and keep downtown streets cleaner.

Downtown is also getting to the point of having enough of a resident population that some businesses will be attracted to where their workers want to live.

I think one of the last pieces that needs to happen are simple things like improving the appearance of downtown streets and sidewalks. Think of the the Country Club Plaza and how the physical environment is so attractive. That needs to be replicated inside the Loop and along major arterial streets south of the Loop. Corporate headquarters are very sensitive to image these days, and they are careful where they locate.

"Lure them back"

Many of those listed weren't downtown in the first place.

The attention-grabbing Hyatt’s target opening date has been pushed back to early 2019. Slowed by a thwarted petition drive that would have required a public vote for it to proceed, the project is slogging forward to nail down financing and land acquisition, according to Mike Burke, who leads the development team.

Read more here: http://www.kansascity.com/news/business ... rylink=cpy

Any new news on the hotel?

mister816 wrote:Any new news on the hotel?

I sent the director of communications for the project an email with some questions about how close they were to securing the financing, final architectural vision for the project/renderings, investing in the project, etc. Would be shocked if I get anything remotely close to a good answer on my questions.

They have said repeatedly that they anticipate closing financing in the fall and starting construction shortly thereafter. There will be no update on this until then.

kboish wrote:They have said repeatedly that they anticipate closing financing in the fall and starting construction shortly thereafter. There will be no update on this until then.

Would be shocked if I get anything remotely close to a good answer on my questions.

miz.jordan17 wrote:

kboish wrote:They have said repeatedly that they anticipate closing financing in the fall and starting construction shortly thereafter. There will be no update on this until then.

Would be shocked if I get anything remotely close to a good answer on my questions.

I received a response from Mike Burke, and much of it was information already public, but he did specifically mention that the renderings floating around now are "significantly different" from the final renderings- primarily due to it being 800 rooms instead. Makes me excited to see what the building is going to look like.

Any idea when these new renderings will be released miz.jordan17. and thanks for the legwork.

Crosby Kemper Ill is telling everyone who will listen that the convention hotel project is dead.

chingon wrote:Crosby Kemper Ill is telling everyone who will listen that the convention hotel project is dead.

i wouldn't be surprised, but obviously the source is very questionable.

Heard the polar opposite last week... But the source was as much in favor of the new hotel as Crosby is against it.

How much funding is lined up? I thought it had a long way to go to get finances lined out. If not, could be in trouble.

earthling wrote:How much funding is lined up? I thought it had a long way to go to get finances lined out. If not, could be in trouble.

They haven't said

The fact that they haven't financed it yet doesn't mean it won't get built. A project this big usually takes a long time to put together a financing package. Some of the financial institutions that might fund it might be awaiting the final design and configuration (and final estimated cost) before signing off.

Keep in mind that the President Hotel and the Power & Light Building had many ups and downs, and setbacks, in the process of financing them, and they were smaller projects.

Some financial backers could also be awaiting the outcome of the presidential election, before making a decision, to see what direction the wind is blowing. Investors are conservative and they like stability. A Trump presidency would represent an unpredictable future. It is entirely possible that if Trump is elected, we might see a shock in the stock market and the value of the dollar--like happened with the Brexit vote. Investors would probably wait and see how that shakes out.

Does anyone know if the Convention Hotel is still going to start construction this fall?

ldai_phs wrote:Does anyone know if the Convention Hotel is still going to start construction this fall?

At this point, I would say it is doubtful. As they haven't even announced any financing arrangements I am not sure how quickly they could break ground after any such announcement.

hartliss wrote:

ldai_phs wrote:Does anyone know if the Convention Hotel is still going to start construction this fall?

At this point, I would say it is doubtful. As they haven't even announced any financing arrangements I am not sure how quickly they could break ground after any such announcement.

I would bet it's 3-6 months. There's only so many companies that have equipment big enough to work with rock on that scale and they're going to book months out.

I bet they're going to complete financing, book the groundbreaking company, book the mayor/city council for the ceremonial date and only then announce.

Given what was said months ago about the bonds to be issued I doubt much has changed.

The article's for subscribers only. Can anyone give a summary?

http://www.bizjournals.com/kansascity/n ... elays.html