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Re: Four Light
Posted: Mon Apr 15, 2024 9:07 am
by GRID
I can't believe they have not even released a rendering for this. Downtown KC needs a tower crane!
Re: Four Light
Posted: Mon Apr 15, 2024 9:37 am
by Chris Stritzel
GRID wrote: ↑Mon Apr 15, 2024 9:07 am
I can't believe they have not even released a rendering for this. Downtown KC needs a tower crane!
There will be two up soon enough. One for 1818 Main and the second for 3rd and Grand. Another three could go up if their respective projects start this year (New UMKC Building on Hospital Hill, Atlas 303 Broadway and City Harvest/5th and Main). So greater downtown could have 6 up at once. I know none of those are directly within the loop, but they’ll all show up.
Re: Four Light
Posted: Tue Apr 16, 2024 8:17 am
by DColeKC
GRID wrote: ↑Mon Apr 15, 2024 9:07 am
I can't believe they have not even released a rendering for this. Downtown KC needs a tower crane!
They’re in final design phase right now. Not sure on timing for announce or new renderings.
Re: Four Light
Posted: Tue Apr 16, 2024 10:00 am
by langosta
City manager said ground breaking this year. FYI
Re: Four Light
Posted: Tue Apr 16, 2024 10:08 am
by Chris Stritzel
langosta wrote: ↑Tue Apr 16, 2024 10:00 am
City manager said ground breaking this year. FYI
When was that said?
Re: Four Light
Posted: Tue Apr 16, 2024 10:10 am
by langosta
Chris Stritzel wrote: ↑Tue Apr 16, 2024 10:08 am
langosta wrote: ↑Tue Apr 16, 2024 10:00 am
City manager said ground breaking this year. FYI
When was that said?
This week
Re: Four Light
Posted: Tue Apr 16, 2024 11:37 am
by Sani
langosta wrote: ↑Sat Sep 30, 2023 2:04 pm
DColeKC wrote: ↑Sat Sep 30, 2023 12:22 pm
im2kull wrote: ↑Sat Sep 30, 2023 12:15 pm
They can't be that strict. I see bad loans written for bad condo's with terrible financials and piss poor run HOAs every week. So either they aren't strict, or everyone turns a blind eye to the obvious while accepting inaccurate disclosure documents to push things along. I've seen more inaccurate or missing condo resale certs (despite being required by state law) than I've seen proper ones. It's disgusting and typically benefits one obvious class of citizen while bending over another. The sad part is that most buyers being taken advantage of don't even realize it until it's way to late to do anything about it.
I've always been under the impression that a certain amount of condo units must be sold before construction can take place. I'm not sure if this is true or if it that's just a policy of HUD when they're involved on the lending side of things.
DColeKC is correct. There is also a 10 year window for condor owners to sue the constructor for damages. Complete non-starter for constructors in this area/at local price points/at any meaningful scale.
One of many documents you sign when building a tower in downtown KC is the agreement that the units will be rental and not condo for a period of 10 years.
I'm torn on that 10-year window. On the one hand, I get that developers don't want to be on the hook for bad workmanship for a decade after construction is complete, but on the other hand, when you see how Champlain Towers South in Surfside was built, you understand why a guarantee requirement makes sense. For every Champlain Towers, there are thousands of other condo towers facing horrendously expensive maintenance and repair assessments to compensate for poor construction. I suppose "building it right the first time" just doesn't make any financial sense at all.
Re: Four Light
Posted: Tue Apr 16, 2024 12:01 pm
by langosta
But those issues were not found for decades post construction. And Kansas City’s special testing and inspections requirements during the construction process are what really catch those sorts of issues well before there is a major problem.