OFFICIAL: Power & Light District

[LyRiCaL GanGsTa]

WHOOOO-FREAKIN'-HOOOOO

Go KC... it's your burf-day!...Go KC...it's your burf-day!.... Go KC... it's your burf-day!

[kcteen]

I dont think KCP really made that site, i think he was joking (unless I'm wrong). If he did, holy crap good job.

I am really, really impressed with the site and even more excited about the upcoming district.

[KCPowercat]

I've got a couple more nuggets but I'm waiting on some things first....hopefully by tomorrow.

[KCLofts]

From the current site plan, it appears the Empire Theatre will be saved and used as a music club and restaurant.

On another note, all of the 3-d renderings and video were done by a guy in my building. He does some pretty amazing work. You've probably seen some of his work at various loft projects around the city.

[kcteen]

i really hope they build all the residential housing in phase 1... housing downtown in so on fire, why not capitalize and cement the district at the same time?

[KCDevin]

I believe that this project alone getting started will spark more residential projects outside of the entertainment district. Im sure some parking garages will go in the crossroads over time and they will probably build more lofts in the parking lots in the crossroads, I bet that in 6-10 years the Crossroads will be just like the River Market area will be in 4-5 years. (lots of housing and lots of shopping)

[hartliss]

With all of these exciting renderings going up, I have one question. When is a good guess on when all of this will open? Judging everything goes as planned ( contract with AEG for Arena, Taxes pass in August) Is the live district set to open before the arena I assume?

[KCDevin]

Phase 1 will be completed in 2006 and Phase 2 will start in 2006 or 2007 (most of the entertainment and residential part i think).
The arena should be completed in 2007.
The PAC should start construction right after the ballet is completed (they need to move b/c their current building is on the PAC site).
The ballroom should start construction this fall or next summer.

[sethyg]

let's top it off with a nice baseball stadium, too!

[zonk]

From the current site plan, it appears the Empire Theatre will be saved and used as a music club and restaurant.

On another note, all of the 3-d renderings and video were done by a guy in my building. He does some pretty amazing work. You've probably seen some of his work at various loft projects around the city.

Jonathan Arnold, Arnold Imaging...just had an article in the KCBJ couple weeks back...He does some amazing work!!!

[QueSi2Opie]

Phase 1 will be completed in 2006 and Phase 2 will start in 2006 or 2007 (most of the entertainment and residential part i think).

Nah, Devin...Phase 1 will be the entertainment, dining, and retail (2 to 3 floor development). Phase 2 will be the residential, offices and possibly a new hotel (4+ floor development).

[KCDevin]

what I posted was the original plan Que
And they haven't said anything about hotels

[trailerkid]

P&L needs some height because it's such a HUGE area. I'd settle for just some sort of infill, but It'd be nice for a mini-skyline of the South Loop. In addition to all the streetfront retail, restaurants and arena I'd like to see:
1 office tower (16 floors)
3 residential towers (12-15 floors)
Hard Rock Hotel tower (15 floors)

[KCDevin]

uhhh, the plan consists of one 18 floor tower, several 10-11 floor residential towers (were talking 4-6) one unknown 12-14 floor tower near empire hotel. and the future H&R expansion in 2006 (unknown)

[QueSi2Opie]

And they haven't said anything about hotels

That's why I said "possibly" a hotel in a later phase. It's been mentioned before, and it will be built if the demand is there. Probably sometime after the arena, performing arts center, convention expansion, etc. are complete.

[KCPowercat]

Overall site plan: (check specific block threads for more detailed picture and talk about possible tenants)




I think we can tell from this site plan that the fears of P&L district running the Plaza out of business are unfounded.....this is a completely different set of retailers.

[tat2kc]

Man, I hope Cordish folks are monitoring this discussion. There are some great ideas coming out. Lets do some research and find unique retailers that other cities have that KC could land that would not be found within 300 miles or so.

[KCK]

Now they need a tenant for 1KCP.

[scooterj]

Has anyone heard anything about how negotiations with American Formal Wear, the Goldmine, and the MO Dept of Employment Security are going? Last I heard the first two were holding out for better deals with the first one wanting to stay where it is until the end of the summer, and the third one just needing a suitable relocation/compensation plan presented to the state. But that was several weeks ago and at that time they were hoping to have agreements by July. Tomorrow is July.

[Gorlock]

KC agency OKs state financing for downtown district
Jim Davis
Staff Writer
Missouri state financing for a proposed downtown entertainment district in Kansas City was approved Wednesday by a new city agency.

The Downtown Economic Stimulus Authority's endorsement keeps the district on track to become the first applicant for assistance through the Missouri Downtown Economic and Rural Stimulus Act, better known as Modesa.

The $323 million project is to receive $196 million of public money. Tax increment financing, which diverts new local taxes to offset the cost of public improvements, was approved in March. Modesa makes a similar reimbursement of state taxes.

The Kansas City Council's Planning, Zoning and Economic Development Committee will consider the Modesa plan on Wednesday afternoon. The committee's recommendation will go to the full council on Thursday.

The Missouri Development Finance Board could review the city council's anticipated approval as early as July 20.

Matt Webster, a vice president of Oppenheimer & Co., the city's financial adviser, said state assistance is needed for The Cordish Co. to turn a profit on its development of the project. The internal rate of return with Modesa is 14 percent, Webster told the authority. Modesa would account for 28 percent of incremental taxes to be diverted, Webster said.

Blake Cordish, a vice president at the Baltimore-based company that carries his name, told the authority that Kansas City is at a "critical time" to stanch the flow of shopping, dining and entertainment dollars that are leaking across the state line. The district represents a draw that suburbs can't match, Cordish said.

"People are drawn to cities and would prefer to be in a downtown environment," he said.

Plans call for the district to contain about 450,000 square feet of what Cordish termed "experiential retail" -- large bookstores and music stores that invite impulse purchases amid restaurants and clubs. This street-level space is to be topped with 1,200 residential units. Parking would be provided for 8,000 vehicles.

Cordish called H&R Block Inc.'s proposed headquarters at 13th and Main streets the "perfect complement" to the district. He expected to meet Wednesday with Block officials to review their plans, which he said are "in lockstep" with his.

The district and headquarters are expected to open in two years.

REACH JIM DAVIS at 816-421-5900 or jdavis@bizjournals.com.