KCRag Forum

Weld Wheel buidling update, developers seeking tax abatement...

http://www.bizjournals.com/kansascity/n ... ttoms.html

The Weld Wheel Building at 933 Mulberry, aka Ridenour-Baker Grocery Co. Building,
has advanced past the first step in receiving a historic designation that is necessary
to receive tax credits for redevelopment.

Other Kansas City properties nominated for the National Register of Historic Places and receiving state approval on Friday were:

• The Ridenour-Baker Grocery Co. Building, 933 Mulberry St

http://tinyurl.com/o8y97z9

Parties agree on support level for $30M West Bottoms apartment conversion

Bob Mayer of MR Capital Advisors LLC, who is assisting with financing for the project, said Kansas City taxing jurisdictions have agreed to support a 95 percent property tax abatement followed by a 50 percent abatement for five years.

The abatement, which was scheduled to be considered during Thursday morning’s meeting of the Planned Industrial Expansion Authority board, would assist with the $30 million conversion of the vacant, nine-story grocery warehouse and three adjacent structures into 251 apartments.

i really hope this project is executed better than the view and those buildings next to penn valley park.

I wonder how much parking will be built to accommodate this project? There's still unsold structured parking for sale at The View, and not an insignificant number of spots, either.

Eon Blue wrote:I wonder how much parking will be built to accommodate this project? There's still unsold structured parking for sale at The View, and not an insignificant number of spots, either.

the west bottoms will need to meet the city's suburban-style parking minimums, unfortunately. i see that one of the structures (1230 Union) will be demolished for parking. nice!

KCMax wrote:Parties agree on support level for $30M West Bottoms apartment conversion

Bob Mayer of MR Capital Advisors LLC, who is assisting with financing for the project, said Kansas City taxing jurisdictions have agreed to support a 95 percent property tax abatement followed by a 50 percent abatement for five years.

The abatement, which was scheduled to be considered during Thursday morning’s meeting of the Planned Industrial Expansion Authority board, would assist with the $30 million conversion of the vacant, nine-story grocery warehouse and three adjacent structures into 251 apartments.

PIEA approves

http://www.bizjournals.com/kansascity/n ... ntown.html

Split the thread. Apparently this development has a name: The View at the West Bottom II.

http://www.kansascity.com/2014/04/17/49 ... rylink=cpy

DaveKCMO wrote:the west bottoms will need to meet the city's suburban-style parking minimums, unfortunately. i see that one of the structures (1230 Union) will be demolished for parking. nice!

Next big test for city will be eliminating parking minimums in the core, especially along Phase 2 corridors.

Eon Blue wrote:

DaveKCMO wrote:the west bottoms will need to meet the city's suburban-style parking minimums, unfortunately. i see that one of the structures (1230 Union) will be demolished for parking. nice!

Next big test for city will be eliminating parking minimums in the core, especially along Phase 2 corridors.

I wouldn't say just the core, but to on the major commercial corridors too.

there's a huge number of shopping centers along N. Oak, Antioch and such which if developers could put in less parking that I bet we would see interest in tear outs and new development happen (most of them I'm thinking of are junk)

also, a suburban commercial zoning where you don't need parking per development, you just need parking nearby. offer some sort of tax credit to owners that share their parking with other developments. so an old tiny strip mall next to another strip mall could look at a tear out and put something new which would lease better

Why are any parking requirements anywhere necessary?

TheBigChuckbowski wrote:Why are any parking requirements anywhere necessary?

ADA. but that has a workable alternative to general parking

TheBigChuckbowski wrote:Why are any parking requirements anywhere necessary?

Because people are afraid that 'a development', residential or otherwise, will suck up all of the on-street parking from a given community.

flyingember wrote:

TheBigChuckbowski wrote:Why are any parking requirements anywhere necessary?

ADA. but that has a workable alternative to general parking

KC's minimum parking requirements pre-date ADA.

This plan is slated to be approved by the full City Council this Wednesday, with a slight reduction in the number of units (249).

KCDowntown

a tidbit from an article about a different development: http://www.bizjournals.com/kansascity/n ... oject.html

The project is expected to be only the second multifamily development completed in the West Bottoms in recent history — hence, the risk. Developer Wayne Reeder's View II at WB, a 250-unit historic conversion project on the north side of the West Bottoms, won a PIEA abatement last year but has stalled due to an inability to attract private debt financing, Cooper said.

i'm guessing this one just won't happen. one of the buildings has seen some activity (windows removed), but no visible activity for some time.

It looks like Wayne Reeder has put these properties on the market:

http://www.loopnet.com/Listing/Kansas-City-MO/13716847/

It's back! Apparently ownership has changed and a serious plan is in the works for this place, encompassing all the buildings on the block. I got to tag along in a tour of the place before construction starts and have even more pictures to post

Some of those pix are terrifying. Plus, I may have seen a dead body.