KCRag Forum

Copaken Brooks announced something of a commitment date..

https://www.copaken-brooks.com/our-properties/strata/

While they do make it sound like this is definitely going to happen, they don't make it clear as to when.

Sometimes I wonder if the streetcar line has been too successful. I'd love to see this built south of Sprint Arena on Grand to fill in some of KC's most high profile surface lots but the streetcar seems to be increasing the density of KC's already dense areas.

I don't think this project has anything to do with the streetcar. It has to do with development rights, being part of the existing cordish development etc. But they need to get the thing up. It will suck if it takes years to break ground on this. Downtown needs new class A office space so bad.

I worry this won't really be spec and they're just waiting around until they find a tenant.

WoodDraw wrote: ↑Mon Jun 03, 2019 10:40 am I worry this won't really be spec and they're just waiting around until they find a tenant.

They had been in serious talks with a few potential tenants.

normalthings wrote: ↑Mon Jun 03, 2019 12:12 pm

WoodDraw wrote: ↑Mon Jun 03, 2019 10:40 am I worry this won't really be spec and they're just waiting around until they find a tenant.

They had been in serious talks with a few potential tenants.

Yeah, this just seems more Corrigan take two than I wanted.

I think they have a timeline to begin construction in order to receive the incentives in the contract, so that may have some bearing on why it is even "spec" in the first place. Incentives too sweet to pass up even if you don't have a tenant.

kboish wrote: ↑Mon Jun 03, 2019 12:49 pm I think they have a timeline to begin construction in order to receive the incentives in the contract, so that may have some bearing on why it is even "spec" in the first place. Incentives too sweet to pass up even if you don't have a tenant.

I think hr block had some role in this too. Weren't they set to lose rights pretty soon?

kenrbnj wrote: ↑Fri May 31, 2019 9:14 am Copaken Brooks announced something of a commitment date..

https://www.copaken-brooks.com/our-properties/strata/

They should be buying concrete and/or steel relatively soon if that time is accurate.

The following item is on the City Council agenda for today:

Authorizing the City Manager to execute a Master Development Financing Agreement among the City, the Port Authority of Kansas City, Missouri and Power Tower Block 124, LP in relation to the construction of a Class A office tower and parking garage in the Power & Light District; and recognizing this ordinance as having an accelerated effective date.

I wonder if there is any significance to the accelerated effective date.

KCtoBrooklyn wrote: ↑Thu Jun 20, 2019 2:10 pm The following item is on the City Council agenda for today:

Authorizing the City Manager to execute a Master Development Financing Agreement among the City, the Port Authority of Kansas City, Missouri and Power Tower Block 124, LP in relation to the construction of a Class A office tower and parking garage in the Power & Light District; and recognizing this ordinance as having an accelerated effective date.

I wonder if there is any significance to the accelerated effective date.

Yes, multiple projects were put on the docket w/ accelerated effective dates. Trying to get things approved before Lucas/new council takes over and can kill them.

Would imagine more proposals in the works involving city help of some form will rush for approval before Aug 1, if ducks in a row that is. Might we see some new proposals pop in just to get in before then, that we haven't heard about yet?

There's only like two council meetings left before the new team is seated.

they have been accelerating effective dates for years. Started to dodge petitions if I recall correctly.

KCPowercat wrote: ↑Thu Jun 20, 2019 9:15 pm they have been accelerating effective dates for years. Started to dodge petitions if I recall correctly.

It dodges referendums. They also appropriate a paltry $10K so they can claim there's an expenditure to meet the requirements.

thanks for the clarification.

....

kenrbnj wrote: ↑Fri May 31, 2019 9:14 am Copaken Brooks announced something of a commitment date..

https://www.copaken-brooks.com/our-properties/strata/

Looks like Copaken has announced a slight sizing increase?

262,656 SF, 16-story, Class A Office Building. Ample parking for tenants includes 770 spaces

The ordinance filed last week lists the expected job count as 1,100. This is far below the original estimate of 1,800 used in previous news articles and the January ordinance. I assume these changes can be chocked up to Design Evolution and/or having lined up tenants.

normalthings wrote: ↑Tue Jun 25, 2019 12:20 am

kenrbnj wrote: ↑Fri May 31, 2019 9:14 am Copaken Brooks announced something of a commitment date..

https://www.copaken-brooks.com/our-properties/strata/

Looks like Copaken has announced a slight sizing increase?

262,656 SF, 16-story, Class A Office Building. Ample parking for tenants includes 770 spaces

The ordinance filed last week lists the expected job count as 1,100. This is far below the original estimate of 1,800 used in previous news articles and the January ordinance. I assume these changes can be chocked up to Design Evolution and/or having lined up tenants.

My gut tells me a tech firm will move into Strata.

Apparently, the Star Opinion board can’t do any actual journalism, saying there aren’t any tenants for this building so it shouldn’t receive incentives. Trust me, there are.