KCRag Forum

The city should be bending over to help get this project done. It sounds like it would bring a nice hotel to the convention district as well.

Should be interesting to watch this next week, Mayor & CM getting behind the project with a "Tax Redirection Agreement" of up to ~$12M. Will first hit Legal Review on Tuesday. https://clerk.kcmo.gov/LegislationDetai ... FullText=1

bspecht wrote: ↑Fri Dec 01, 2023 11:01 am Should be interesting to watch this next week, Mayor & CM getting behind the project with a "Tax Redirection Agreement" of up to ~$12M. Will first hit Legal Review on Tuesday. https://clerk.kcmo.gov/LegislationDetai ... FullText=1

Kimpton flag anticipated according to lawyer repping owners. Passed.

Somewhat related, I see NorthPoint Development has taken over for Lux on an apartment development in STL, as per KCBJ. I believe that project had yet to start so a little easier to change hands. But it had not occurred to me that a company like NorthPoint might be a good fit for projects that Lux has to abandon in the KC Metro. Not sure they can take over projects already started but those yet to have shovels in the ground might be a good fit for NorthPoint to make an even bigger stamp on KC Metro development.

Was it not NorthPoint who developed the adjacent Power & Light apartments?

moderne wrote: ↑Tue Dec 05, 2023 4:07 pm Was it not NorthPoint who developed the adjacent Power & Light apartments?

Correct

dukuboy1 wrote: ↑Tue Dec 05, 2023 4:04 pm Somewhat related, I see NorthPoint Development has taken over for Lux on an apartment development in STL, as per KCBJ. I believe that project had yet to start so a little easier to change hands. But it had not occurred to me that a company like NorthPoint might be a good fit for projects that Lux has to abandon in the KC Metro. Not sure they can take over projects already started but those yet to have shovels in the ground might be a good fit for NorthPoint to make an even bigger stamp on KC Metro development.

Makes sense and appropriate City agencies should actively pursue them instead of waiting for interest.

I’m a bit biased being from & living in the Northland, but NorthPoint is a good company with some great success stories. They built their business and really became a major player & built a solid culture with their company. Could be poised to be a Cerner 2.0 up here to better long term success hopefully & be company that does M&A not the company getting bought. At any rate would love to see them become an even bigger developer for residential & mixed use projects & highrises

bspecht wrote: ↑Tue Dec 05, 2023 3:48 pm

bspecht wrote: ↑Fri Dec 01, 2023 11:01 am Should be interesting to watch this next week, Mayor & CM getting behind the project with a "Tax Redirection Agreement" of up to ~$12M. Will first hit Legal Review on Tuesday. https://clerk.kcmo.gov/LegislationDetai ... FullText=1

Kimpton flag anticipated according to lawyer repping owners. Passed.

Wasn't Kimpton previously tied to the 45th and Main site?

Kimpton was involved with original 45th and Main proposal.

Off topic posts deleted. You know the rules.

bspecht wrote: ↑Tue Dec 05, 2023 3:48 pm

bspecht wrote: ↑Fri Dec 01, 2023 11:01 am Should be interesting to watch this next week, Mayor & CM getting behind the project with a "Tax Redirection Agreement" of up to ~$12M. Will first hit Legal Review on Tuesday. https://clerk.kcmo.gov/LegislationDetai ... FullText=1

Kimpton flag anticipated according to lawyer repping owners. Passed.

So this is no longer Lux Living? That would make sense given their issues - but who is pushing the development through the approval process?

Still looks like Lux Living.

"The project, which is being pursued by an entity formed by Lux Living called Monte Rosa LLC, is proposed for what’s currently a parking lot and a vacant, rubble-strewn plot northeast of 14th and Wyandotte."

https://cityscenekc.com/proposed-14th-a ... -interest/

Kimpton is the hotel flag.

Does anybody really think this project has even a remote chance of happening? I mean I was giving it like a 10% chance in a post a while back before Lux kinda fell apart. Now I would give it closer to a 1% chance of happening. Just trying to be realistic.

It really sucks because KC needs some new construction projects of this size in the pipeline. These larger tower projects are nearly impossible to build in KC for various reasons. I just see this project slowly going away like all the others that have been proposed.

I know that people hate me posting stuff like that, but it's just the way it is.

KC needs some serious and experienced high rise developers to enter the market. I see the same developers doing towers in most cities.

GRID wrote: ↑Fri Dec 08, 2023 5:41 pm Does anybody really think this project has even a remote chance of happening?

Yes

TheUrbanRoo wrote: ↑Fri Dec 08, 2023 5:56 pm

GRID wrote: ↑Fri Dec 08, 2023 5:41 pm Does anybody really think this project has even a remote chance of happening?

Yes

So you think a company that has never built a high-rise development like this who is literally unloading every project they are currently planning and have slowed way down on the construction of the ones they have started is going to pull this off?

I hope you are right. It would be amazing.

GRID wrote: ↑Fri Dec 08, 2023 6:01 pm

TheUrbanRoo wrote: ↑Fri Dec 08, 2023 5:56 pm

GRID wrote: ↑Fri Dec 08, 2023 5:41 pm Does anybody really think this project has even a remote chance of happening?

Yes

So you think a company that has never built a high-rise development like this who is literally unloading every project they are currently planning and have slowed way down on the construction of the ones they have started is going to pull this off?

I hope you are right. It would be amazing.

I'm not sure if it will be them, but someone else will soon after if not. This is the premiere project site in KC right now.

GRID wrote: ↑Fri Dec 08, 2023 6:01 pm

TheUrbanRoo wrote: ↑Fri Dec 08, 2023 5:56 pm

GRID wrote: ↑Fri Dec 08, 2023 5:41 pm Does anybody really think this project has even a remote chance of happening?

Yes

So you think a company that has never built a high-rise development like this who is literally unloading every project they are currently planning and have slowed way down on the construction of the ones they have started is going to pull this off?

I hope you are right. It would be amazing.

Greystar and Kimpton managing are good signs imho

I predict it won't get built by Lux Living. I think they will sell the property with the incentives package in place. That doesn't mean any new buyer will develop the exact building or scale Lux proposed. Or, they could buy the land and sit on it for years depending on interest rates, building costs, rents, etc.

If Kimpton stays interested though, another developer could get it done.

FangKC wrote: ↑Fri Dec 08, 2023 6:55 pm I predict it won't get built by Lux Living. I think they will sell the property with the incentives package in place. That doesn't mean any new buyer will develop the exact building or scale Lux proposed. Or, they could buy the land and sit on it for years depending on interest rates, building costs, rents, etc.

If Kimpton stays interested though, another developer could get it done.

All this is true, it's possible, but even if it does happen, it will take many additional years and will probably be scaled way back from what Lux wanted to do. My best is those lots are still empty for at least five more years and then we will see yet another new rendering for the site and this whole process starts over again.