KCRag Forum

Officials hope a proposal to convert the old U.S. Courthouse into apartments will be the salvation for a building that’s been a hard sell since its closing in 1998.

The historic property at 811 Grand Blvd. has been marketed actively by the federal General Services Administration for five years and has seen at least two redevelopment plans come and go during that time.

Now, the Alexander Co. of Madison, Wis., has submitted a proposal to convert the building into 144 apartments with indoor parking and a limited amount of commercial space.

Alexander is no stranger to downtown redevelopment here. It is close to completing the renovation of the nearby Professional Building at 11th Street and Grand Boulevard into 132 apartments.

The national credit crunch has endangered the redevelopment of the historic U.S. Courthouse at 811 Grand Blvd., forcing the developer to seek another $4 million in state tax credits.

Alexander Co., of Madison, Wis., had expected to close on its financing plan to renovate the vacant landmark into 176 apartments in late January, but Wachovia Bank, its private lender, abruptly pulled out of the $35 million deal, a company representative said.

At a council committee meeting, attorney Jack Craft said that if the apartment project didn’t move forward, the GSA’s next option would be to offer the 256,000-square-foot building, where Thurgood Marshall practiced and Harry Truman had his retirement office, as a homeless shelter.

FangKC wrote: A homeless shelter?  Yikes!

HalcyonKC wrote: I think that's obvious baloney. 

HalcyonKC wrote: I think that's obvious baloney. 

Downtown apartment projects get big boost, thanks to stimulus money

Uncle Sam is jump-starting the redevelopment of two downtown landmarks with incentives from the economic stimulus bill approved earlier this year.

The historic U.S. Courthouse at 811 Grand Blvd. and the 17-story former Home Savings Association building, also known by its address, 1006 Grand, are the most prominent of six Kansas City area projects benefiting from the federal aid.

The Grand Boulevard buildings are expected to add 310 apartments to a downtown market hungry for affordable housing.

....

All were stalled when the private market for tax credits dried up last year because of the recession.

?Seventy-five percent of the investors that were in the affordable housing industry are no longer there, and the ones that are there are paying substantially less for tax credits,? said Matt Meier of the Alexander Co. His Wisconsin-based firm has been pursuing the redevelopment of the old federal courthouse into 176 apartments since 2006.

It was on the verge of moving forward last year when Wachovia Bank pulled out of the deal. The art deco building has been empty since the Charles Evans Whittaker U.S. Courthouse opened in 1998.

All the projects receiving the federal help were approved recently by the Missouri Housing Development Commission.

Gretz wrote: Agreed. Between this, 1006 Grand and the old Fed, should something actually happen with it as suggested by Angel, Grand should get a significant boost.  Anyone know what is going on with the Pickwick project, btw?  Was that just something that was proposed and is languishing or is there a real possibility of something happening there?  Also, what's the deal with that place at 10th add Oak with the new windows and canopy, anyone know?  Would be nice to see signs of life besides myself and street urchins when walking around my east loop hood.

Also, I was a little curious about what the underground parking mentioned in the article was.  I'm guessing there is maybe just a basement that they will convert to parking, but suppose they could mean excavating that 1/4 block or so behind the courthouse for a garage.