KCRag Forum

Strata Office Tower Proposal Now Before City Council, $133M Project in P&L District

https://cityscenekc.com/strata-office-t ... -district/

Better deal for the city. How do we think the new council will vote?

I am curious to see how Lucas votes and if he votes against it, whether he exercises his veto power. If he vetos, I don't see having the 9 out of 12 council people necessary to approve it.

kboish wrote: ↑Thu Sep 19, 2019 2:47 pm I am curious to see how Lucas votes and if he votes against it, whether he exercises his veto power. If he vetos, I don't see having the 9 out of 12 council people necessary to approve it.

My guess is that it gets approved next time.

Edits:
1. I am shocked that Loar suddenly cares about Cordish.
2. The developers are asking for a hold for 1 week.
3. "I feel no obligation to an agreement a previous council made" - Ellington
4. 1 week hold is passed.

What do we think will happen?

langosta wrote: ↑Thu Sep 26, 2019 8:07 am What do we think will happen?

It will pass after everyone makes their political points.

Is this being voted on today?

atticus23 wrote: ↑Thu Sep 26, 2019 10:51 am Is this being voted on today?

Yes

Held for 4 weeks.

at developer's request (again)?

bspecht wrote: ↑Thu Sep 26, 2019 3:57 pm Held for 4 weeks.

Any reason why?

langosta wrote: ↑Thu Sep 26, 2019 4:04 pm

bspecht wrote: ↑Thu Sep 26, 2019 3:57 pm Held for 4 weeks.

Any reason why?

Correct, developer's request.

Shields: "Development team is working the reduce the City's obligation / risk in the project" (in a few less words).

Can rewatch here (for a few hours): https://www.youtube.com/watch?v=MhJ2tkoi2y8

Strata goes to city council for the final time tomorrow.

Lucas just got on board with W&R incentives, so I predict a no.

I’ll predict it passes. Tough negotiation but I think they compromise just enough to squeak across the finish line.

What's the chances Coopaken would sell the 13th and Grand lot to a developer working with W&R to raise capital for Strata? I just don't see them being able to take on two major projects at the same time. Not to mention the incentives complications.

DColeKC wrote: ↑Wed Oct 23, 2019 11:40 pm What's the chances Coopaken would sell the 13th and Grand lot to a developer working with W&R to raise capital for Strata? I just don't see them being able to take on two major projects at the same time. Not to mention the incentives complications.

I’d imagine Copaken would hold onto their most prized development site for as long as possible.

My understanding is that Strata leasing has gone very well and I’d be surprised if they aren’t thinking about another tower in the near-mid future.

I'm afraid we're going to need to move this to the Unbuilt KC thread. What was it about the incentives that prevented it from being considered for the Waddell & Reed building?

kcjak wrote: ↑Thu Oct 24, 2019 7:50 am I'm afraid we're going to need to move this to the Unbuilt KC thread. What was it about the incentives that prevented it from being considered for the Waddell & Reed building?

Port KC is using some sort of state based incentives for Strata. Maybe there would have been overlap?