5th and Main (Northwest Corner)
- Anthony_Hugo98
- Valencia Place
- Posts: 1932
- Joined: Fri Mar 22, 2019 10:50 pm
- Location: Overland Park, KS
Re: 5th and Main (Northwest Corner)
Whats the expected tax income for the Streetcar TDD from this project? need some numbers to explain to people why tax revenue is better than not getting anything from a city owned lot
Re: 5th and Main (Northwest Corner)
Right now the TDD assessment is zero.Anthony_Hugo98 wrote: ↑Tue Jan 11, 2022 9:54 am Whats the expected tax income for the Streetcar TDD from this project? need some numbers to explain to people why tax revenue is better than not getting anything from a city owned lot
Assuming it's actually assessed at the $75 million construction cost (not guaranteed), the TDD assessment at completion would be $115,200 annually.
As with other new developments (like W&R), the city will negotiate some sort of developer TDD payment once the project moves forward (like with URD rezoning or something) even if the city or one of its eco devo entities retains ownership through completion.
Multifamily is considered commercial.
https://kcstreetcar.org/assessment-calculator/
Re: 5th and Main (Northwest Corner)
D'oh! Correction: The assessment would be residential on the residential portion and be about half the amount above.DaveKCMO wrote: ↑Tue Jan 11, 2022 3:44 pmRight now the TDD assessment is zero.Anthony_Hugo98 wrote: ↑Tue Jan 11, 2022 9:54 am Whats the expected tax income for the Streetcar TDD from this project? need some numbers to explain to people why tax revenue is better than not getting anything from a city owned lot
Assuming it's actually assessed at the $75 million construction cost (not guaranteed), the TDD assessment at completion would be $115,200 annually.
As with other new developments (like W&R), the city will negotiate some sort of developer TDD payment once the project moves forward (like with URD rezoning or something) even if the city or one of its eco devo entities retains ownership through completion.
Multifamily is considered commercial.
https://kcstreetcar.org/assessment-calculator/
- Anthony_Hugo98
- Valencia Place
- Posts: 1932
- Joined: Fri Mar 22, 2019 10:50 pm
- Location: Overland Park, KS
Re: 5th and Main (Northwest Corner)
Ty Dave, your help is much appreciated!DaveKCMO wrote: ↑Wed Jan 12, 2022 7:15 pmD'oh! Correction: The assessment would be residential on the residential portion and be about half the amount above.DaveKCMO wrote: ↑Tue Jan 11, 2022 3:44 pmRight now the TDD assessment is zero.Anthony_Hugo98 wrote: ↑Tue Jan 11, 2022 9:54 am Whats the expected tax income for the Streetcar TDD from this project? need some numbers to explain to people why tax revenue is better than not getting anything from a city owned lot
Assuming it's actually assessed at the $75 million construction cost (not guaranteed), the TDD assessment at completion would be $115,200 annually.
As with other new developments (like W&R), the city will negotiate some sort of developer TDD payment once the project moves forward (like with URD rezoning or something) even if the city or one of its eco devo entities retains ownership through completion.
Multifamily is considered commercial.
https://kcstreetcar.org/assessment-calculator/
- Chris Stritzel
- Penntower
- Posts: 2294
- Joined: Sun Feb 19, 2017 9:27 pm
Re: 5th and Main (Northwest Corner)
I'm looking forward to seeing this go up. With it being 13 floors, and having been approved by the FAA, it opens a new "can of worms" for taller structures in the neighborhood. Think Ascend/Defeo as being next. A revised Ashland proposal should be taller and whatever happens at 3rd and Grand could also be taller. The taller the building, the denser they could be. However, I wouldn't want to see a proposal exceed 13 floors in the River Market.
- Cratedigger
- Valencia Place
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Re: 5th and Main (Northwest Corner)
https://twitter.com/cityscenekc/status/ ... 8878534657Kevin Collison wrote: UPDATE Port KC commissioners unanimously approve land transfer and developer for City Harvest project, final development plan still must return to commission for consideration.
- AlkaliAxel
- Broadway Square
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- Location: West Plaza
Re: 5th and Main (Northwest Corner)
How long till some moron comes out of nowhere and kills the project last second because iT's nOt aFfoRdAbLe eNoUgH
Re: 5th and Main (Northwest Corner)
While not a skyscraper, this will have a big impact visually not just in River Market but also on the north skyline. This due to the fact that it will be on the original city grid that parallels the river, not on the north south grid that starts a couple blocks south. I always like looking south down the street on Delaware because the Commerce Tower and 909 Walnut do not line up with the vanishing point of Delaware.
- FangKC
- City Hall
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- Location: Old Northeast -- Indian Mound
Re: 5th and Main (Northwest Corner)
I think one of the neatest aspects of the former New York Life Insurance Building is the fact that the entrance is visible traveling north on Baltimore. The architecture is enhanced by this.
https://www.google.com/maps/@39.1030329 ... 384!8i8192
https://www.google.com/maps/@39.1030329 ... 384!8i8192
- AlkaliAxel
- Broadway Square
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Re: 5th and Main (Northwest Corner)
Excellent observation. I bet more buildings will come as well. Could look something like Seattle's dense waterfront community development at some point.moderne wrote: ↑Fri Feb 18, 2022 3:55 pm While not a skyscraper, this will have a big impact visually not just in River Market but also on the north skyline. This due to the fact that it will be on the original city grid that parallels the river, not on the north south grid that starts a couple blocks south. I always like looking south down the street on Delaware because the Commerce Tower and 909 Walnut do not line up with the vanishing point of Delaware.
Someone pitched an idea of putting an Amazon campus in the river market at one point and I almost gauged my eyes out at the stupidity of the idea.
- AlkaliAxel
- Broadway Square
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Re: 5th and Main (Northwest Corner)
So if I've read this correctly, this place actually decided to *reduce* parking and is having ground floor space for retail, and is gonna include and top floor restaurant?
Re: 5th and Main (Northwest Corner)
I love the design for this one the greenhouse vibe will definitely stand out while the color choices on the northside look like they'll compliment the existing buildings. The parking ratio is something I hope becomes commonplace on the streetcar corridor. Add in the half million $ renovation to the park and I say its a huge improvement in almost every conceivable aspect.
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- Ambassador
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Re: 5th and Main (Northwest Corner)
I toured the Oxbow Apartments under construction in North Kansas City, which uses the same structural metal stud construction system. I'm excited by the possibilities of this construction technique. More expensive than wood construction, but you can go higher and get better results, but without the cost of concrete or heavy steel.
- normalthings
- Mark Twain Tower
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Re: 5th and Main (Northwest Corner)
Project Name: 5th and Main
Proposed Use: Mixed-Use; Residential, commercial, with parking podium
Project Description: A 13 story mixed use infill project to replace an existing grade parking lot in the river market. Project will be 11 stories of structural metal studs on a 2+ story parking and commercial podium.
Estimated Value $52,500,000.00
Requested Meeting Date
03/29/2022
Anticipated Construction Date
11/16/2022
Anticipated Completion Date
12/31/2023
https://compasskc.kcmo.org/EnerGov_Prod ... b=moreinfo
Proposed Use: Mixed-Use; Residential, commercial, with parking podium
Project Description: A 13 story mixed use infill project to replace an existing grade parking lot in the river market. Project will be 11 stories of structural metal studs on a 2+ story parking and commercial podium.
Estimated Value $52,500,000.00
Requested Meeting Date
03/29/2022
Anticipated Construction Date
11/16/2022
Anticipated Completion Date
12/31/2023
https://compasskc.kcmo.org/EnerGov_Prod ... b=moreinfo
- FangKC
- City Hall
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- Location: Old Northeast -- Indian Mound
Re: 5th and Main (Northwest Corner)
I wonder if they will get that many stories approved on the southwest parcel of 5th and Main?
- alejandro46
- Alameda Tower
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Re: 5th and Main (Northwest Corner)
I can only hope since this project paved the way with the FAA. Maybe the FAA will even be more leinent with the heigth on future projects. If the north loop is ever removed, that parcel goes way up in value.
- Chris Stritzel
- Penntower
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Re: 5th and Main (Northwest Corner)
Geotechnical surveying work underway
- AlkaliAxel
- Broadway Square
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- Location: West Plaza
Re: 5th and Main (Northwest Corner)
Is it still on track to start in the Fall? And when is it supposed to be completed by?
- Chris Stritzel
- Penntower
- Posts: 2294
- Joined: Sun Feb 19, 2017 9:27 pm
Re: 5th and Main (Northwest Corner)
I imagine it’s possible to start in the fall if the city approves of the incentives and final development plan. As for completion, I’d say maybe 18-22 months after construction start is a good timeframe.AlkaliAxel wrote: ↑Thu Mar 31, 2022 7:56 pmIs it still on track to start in the Fall? And when is it supposed to be completed by?