Re: Tracks 215 Project
Posted: Fri Oct 25, 2019 3:49 pm
Do we know for sure that these projects are connected, besides being in the same Freighthouse PIEA area?
They are.KCtoBrooklyn wrote: ↑Fri Oct 25, 2019 3:49 pm Do we know for sure that these projects are connected, besides being in the same Freighthouse PIEA area?
https://cityscenekc.com/multi-phase-fre ... arly-2020/Developer Vince Bryant plans to launch an ambitious redevelopment plan for the Freight House District by renovating the former Superior Moving & Storage buildings at 2020 Walnut into office space.
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When fully built out, the estimated value of the investment could reach $350 million, according to a report prepared for the Planned Industrial Expansion Authority.
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The first project he plans to pursue is the renovation of the Superior buildings into an office project he is calling “The Podium.” A redevelopment plan is expected to be introduced to the PIEA by March, and construction could begin before the end of 2020.
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What kind of agreement they could make with PIEA likely determines the financing details. I wouldn't announce details of the multiple banks I was talking to before signing on a loan either.
Unfortunate to see that shift. Other buildings seem extremely full with high rents. Arterra’s listings on leasing websites also made it sound a lot fuller.KCDowntown wrote: ↑Tue Mar 10, 2020 4:06 pm New Advance KC document related to this project - it looks like it went from 12 stories to 7 (5 stories of apts over 2 of garage). The owner of the land, 3D Development, will give the land to Greystar Development in exchange for 150 parking spaces for 2101 Broadway, presumably opening up space for a new project elsewhere in the Freight House District as mentioned before in this thread)
Project now has 150 units - down from 250 - at $2.35 a sqft rental rate excluding the 10% of affordable units. The document also mentioned occupancy challenges at Arterra which is 34% unoccupied.
There's a new rendering in the document as well.
KCDowntown
Agreed, I thought at last discussed on the occupancy thread that Arterra was leasing up decently. I mean rents there go up into the 3700 range so understandably the market can't absorb immediately. I though this was supposed to be more mid-grade housing.normalthings wrote: ↑Tue Mar 10, 2020 7:01 pmUnfortunate to see that shift. Other buildings seem extremely full with high rents. Arterra’s listings on leasing websites also made it sound a lot fuller.KCDowntown wrote: ↑Tue Mar 10, 2020 4:06 pm New Advance KC document related to this project - it looks like it went from 12 stories to 7 (5 stories of apts over 2 of garage). The owner of the land, 3D Development, will give the land to Greystar Development in exchange for 150 parking spaces for 2101 Broadway, presumably opening up space for a new project elsewhere in the Freight House District as mentioned before in this thread)
Project now has 150 units - down from 250 - at $2.35 a sqft rental rate excluding the 10% of affordable units. The document also mentioned occupancy challenges at Arterra which is 34% unoccupied.
There's a new rendering in the document as well.
KCDowntown
Also sounds like 3D will develop 150+ units at another nearby project in the near future.dukuboy1 wrote: ↑Wed Mar 11, 2020 8:34 am It's a shame that the vertical size has gone done at a loss of units. The rendering still looks good and should fit in well with neighboring buildings.
I think a nice compromise might be around 10 stories and about 200 units. But I guess it's better to maybe play it safe & beuild a project that has best case to get & stay leased, which makes the overall area better and willing for more developers to come in with new ideas & projects.
Not that this area of town is lacking for development
It's about the same as living under the flight path to the airport. it becomes part of the environment.KCPowercat wrote: ↑Wed Mar 11, 2020 12:35 pm I'm more excited about the amenities discussed that the number of units or heights with this project. I wouldn't want to live next to the tracks.
Parking garage shrank which looks nicer imhoChris Stritzel wrote: ↑Mon Mar 16, 2020 2:22 am Same design, just shorter. Still a good project in my opinion
On Arterra, EDC and the journalists usually have a lag on the numbers they report. That number is also just occupied vs. leased. The numbers shown on apartment hunting websites may not be 100% accurate but could be a more recent representation of where leasing is.normalthings wrote: ↑Tue Mar 10, 2020 7:01 pmUnfortunate to see that shift. Other buildings seem extremely full with high rents. Arterra’s listings on leasing websites also made it sound a lot fuller.KCDowntown wrote: ↑Tue Mar 10, 2020 4:06 pm New Advance KC document related to this project - it looks like it went from 12 stories to 7 (5 stories of apts over 2 of garage). The owner of the land, 3D Development, will give the land to Greystar Development in exchange for 150 parking spaces for 2101 Broadway, presumably opening up space for a new project elsewhere in the Freight House District as mentioned before in this thread)
Project now has 150 units - down from 250 - at $2.35 a sqft rental rate excluding the 10% of affordable units. The document also mentioned occupancy challenges at Arterra which is 34% unoccupied.
There's a new rendering in the document as well.
KCDowntown
An amendment to 22nd & Main TIF Plan for a 150 unit apartment building and 300 space garage was introduced to the council this week.KCDowntown wrote: ↑Tue Mar 10, 2020 4:06 pm New Advance KC document related to this project - it looks like it went from 12 stories to 7 (5 stories of apts over 2 of garage). The owner of the land, 3D Development, will give the land to Greystar Development in exchange for 150 parking spaces for 2101 Broadway, presumably opening up space for a new project elsewhere in the Freight House District as mentioned before in this thread)
Project now has 150 units - down from 250 - at $2.35 a sqft rental rate excluding the 10% of affordable units. The document also mentioned occupancy challenges at Arterra which is 34% unoccupied.
There's a new rendering in the document as well.
KCDowntown
http://cityclerk.kcmo.org/LiveWeb/Docum ... txHrnoQ5U0normalthings wrote: ↑Sat Apr 11, 2020 1:01 pmAn amendment to 22nd & Main TIF Plan for a 150 unit apartment building and 300 space garage was introduced to the council this week.KCDowntown wrote: ↑Tue Mar 10, 2020 4:06 pm New Advance KC document related to this project - it looks like it went from 12 stories to 7 (5 stories of apts over 2 of garage). The owner of the land, 3D Development, will give the land to Greystar Development in exchange for 150 parking spaces for 2101 Broadway, presumably opening up space for a new project elsewhere in the Freight House District as mentioned before in this thread)
Project now has 150 units - down from 250 - at $2.35 a sqft rental rate excluding the 10% of affordable units. The document also mentioned occupancy challenges at Arterra which is 34% unoccupied.
There's a new rendering in the document as well.
KCDowntown
A TIF redevelopment agreement for the project is before the TIF Commission as well.