Plaza move-ins (ongoing)

[Highlander]

I feel like the city should set up a conference with the new owners to discuss what the Plaza is/was/should be.

I'm sure if they came here to see it before they bought it, they could see it's a mixed-use neighborhood.

Noted. Perhaps even do the obvious and make Nichols road a pedestrian only street. Among other things. I am hoping this is a positive move for the Plaza.

[nomadcowatbk]

Did anyone local make an offer?

[atticus23]

Remember that time the newspapers predicted a sale of close to $1billion?!? Didn't quite reach that mark w/ this one...

[flyingember]

Wetzel's Pretzels,Cherry on Top,BRIO Tuscan Grille,Elway's,Rise Pies Handcrafted Pizza,Renzios Greek Food,Johnny Rockets,Neiman Marcus among others Cherry Creek has that KC doesn't yet.

Isn't there a brio Tuscan Grill on the plaza?

Yes.

https://countryclubplaza.com/merchant/b ... an-grille/

[earthling]

Did anyone local make an offer?

Yeah, I wonder who else made an offer as the Star article implies that Highwoods chose these owners over other bids.

Remember that time the newspapers predicted a sale of close to $1billion?!? Didn't quite reach that mark w/ this one...

I think Highwoods paid around $300M in the mid/late 90s so a pretty good return but it does seem like they were in a rush to unload the Plaza for other properties they wanted to grab in other markets before someone else did.

[KCtoBrooklyn]

Well, looking at this video on the Macerich website, most of their properties appear to be bland malls, but it looks like we can expect plenty of very attractive females walking around the Plaza in slow motion soon!

http://www.macerich.com/#overview

[taxi]

SAVE THE UGLY PLAZA GIRLS!

[flyingember]

Well, looking at this video on the Macerich website, most of their properties appear to be bland malls, but it looks like we can expect plenty of very attractive females walking around the Plaza in slow motion soon!

http://www.macerich.com/#overview

I was watching the video when I took a look at the text in front of it. They actually claim they have an "Irreplaceable Portfolio"

Exaggeration at it's finest

[DaveKCMO]

SAVE THE OUR UGLY PLAZA GIRLS!

FTFY

[grovester]

Nimbos?

[missingkc]

Encouraging comments on future direction of Plaza -

News release from macerich.com: “Together with Taubman, we see opportunities to expand the market reach of the Plaza as well as the potential for further retail densification of this timeless asset.”

Article from 1/5 Star on Dana Anderson: "But he did note that Taubman’s specialty is developing high-end shopping centers — “and we’re moving more in that direction,” he said of Macerich properties."

[earthling]

Better in terms of better relationship with higher end retailers but it would've been nice to have an owner who owns shopping centers as well as residential hirises and understands need to appeal to neighborhood and not just tourists. Hopefully new owners already 'get it', Highwoods sure didnt'.

[kboish]

Apparently the Vice Chair of one of the entities in the partnership lives in Lawrence and is a well known KU alum. Hopefully that means they know what they've bought and have an idea of the expectations.

[shinatoo]

could this be why Highlander observed a stopage in construction on the old Halls block?

[flyingember]

could this be why Highlander observed a stopage in construction on the old Halls block?

It's logical.

It also would make sense that they planned to not have construction around Christmas anyways.

[FangKC]

It's possible. The Highwoods plan for that building might not be what the new owners would do with it. So during the inspection of the property, the new owners might have asked Highwoods to stop construction until they could assess what their options were for that building. They might have a different tenant(s) in mind already, that would require a different layout(s) than what Highwoods had planned. The new owners might have relationships with larger retailers, one of whom might take the entire space.

It would be similar, on a smaller scale, to an individual buying an unfinished house in a subdivision of new homes, while the house was still being constructed, and indicating that they wanted a different style of kitchen than the standard one being installed.

[FangKC]

Encouraging comments on future direction of Plaza -

News release from macerich.com: “Together with Taubman, we see opportunities ... for further retail densification of this timeless asset.”

I am wondering what this statement means--"further retail densification."

Do they mean they plan to buy more properties and build more retail structures around the existing Plaza buildings? For example, on the cleared hillside on the north side of W. 46th Terrace between Broadway and Pennsylvania, that V-shaped parcel between Roanoke Parkway and Madison, and on the east side of Belleview between W. 47th and W. 48th streets?

[DaveKCMO]

http://nreionline.com/research/densific ... ng_centers

They're practicing retail “densification,” a buzzword for building more product above and around shopping centers they already own.

This new style of development often involves multiple uses. Old regional malls and neighborhood centers and strip centers are being refashioned as town centers with owners adding restaurants, offices, condos and hotels as they erect fresh mosaics of non-retail tenants supplementing department and specialty stores.

[flyingember]

Do they mean they plan to buy more properties and build more retail structures around the existing Plaza buildings? For example, on the cleared hillside on the north side of W. 46th Terrace between Broadway and Pennsylvania, that V-shaped parcel between Roanoke Parkway and Madison, and on the east side of Belleview between W. 47th and W. 48th streets?

Two of those are even owned by Highwoods. It's possible they were part of the Plaza purchase

[kboish]

The V-shaped parcel was discussed in committee during the Midtown plan discussion. The representatives of the buyer were at the committee meeting trying to get a height exception for the project they want to develop (similar to the North plaza project I discussed requesting "grandfathered" status earlier). I believe they failed in their exception request. They want to build a high rise apartment building over retail there.

I don't recall if the buyer was mentioned in the committee meeting- so it may be the entity that just closed on the plaza or this may have been parceled out to a separate buyer.