KCRag Forum

This has more substance now and large enough project to have its own thread. Is interesting timing as investors in most markets are shifting to RBNs (rent-by-necessity) and fewer luxury 'lifestyle' properties. Not seeking incentives, so apparently KC can pull off such projects w/out.

Plaza Luxury Apartment Tower Returns, Potential 2022 Start
https://cityscenekc.com/plaza-luxury-ap ... 022-start/

Mesmer said the number of apartments has dropped from the 288 first proposed several years ago to 238 units. Windows also have been added to the north facade.

The design also continues to feature a row of townhouse-style apartments along Roanoke next to the tower. A 374-space garage would be built into the slope of the site.

The developers are not seeking tax incentives for The Madison and as a result, there are no restrictions on the rent levels or the “condo-quality finish” being planned.

earthling wrote: ↑Sat Nov 20, 2021 11:07 am This has more substance now and large enough project to have its own thread. Is interesting timing as investors in most markets are shifting to RBNs (rent-by-necessity) and fewer luxury 'lifestyle' properties. Not seeking incentives, so apparently KC can pull off such projects w/out.

Plaza Luxury Apartment Tower Returns, Potential 2022 Start
https://cityscenekc.com/plaza-luxury-ap ... 022-start/

Mesmer said the number of apartments has dropped from the 288 first proposed several years ago to 238 units. Windows also have been added to the north facade.

The design also continues to feature a row of townhouse-style apartments along Roanoke next to the tower. A 374-space garage would be built into the slope of the site.

The developers are not seeking tax incentives for The Madison and as a result, there are no restrictions on the rent levels or the “condo-quality finish” being planned.

This project doesn’t have financing yet

^Will be interesting to see if they can pull it off as nationally investors are shifting to RBNs over lifestyle. Suggesting a 2022 start seems to indicate they have some confidence in financing in the works, but could be overstated.

BizJournal indicates reviewing financing arrangements will follow Jan 4 change review. Seems to imply they have enough financing momentum to proceed this far.

https://www.bizjournals.com/kansascity/ ... noake.html

The City Plan Commission is scheduled Jan. 4 to review the new changes. A review of construction costs and financing arrangements will follow, Mesmer said. The developer has not requested incentives.

What is RBN, rent- by- necessity?

^Correct, as mentioned in first post.

Wow, this project seems like it actually has legs. Really nice development for that spot.

I know Main St is not that far, but it really seems like the Southwest Trafficway Corridor should have much better transit. I wonder if a road diet could ever happen with that road to allow for transit and other more urban friendly infrastructure (cycle track etc). It's one of the few urbanized corridors in KC and it's sad that it's mostly utilized as a commuter route.

Block’s next big KC project: first-class Plaza residential tower

...Block's project in January 2017 received city approval with 245 residences as part of a 13-story tower. Later that year, officials greenlit a jump to 288 apartments across 15 stories.

Now, Block envisions 238 units in a project that, at The Madison's south end, reaches its tallest point at 16 stories, or 223 feet, up from around 200 feet in its previous version. The individual rooms average 1,063 square feet, though specific rent levels are not yet decided.
...
Other plan changes include the enclosure of a portion of rooftop amenity space and a new arc-shaped entry driveway off of Roanoke. The Madison's design includes a series of shorter apartment units with the appearance of townhomes along Roanoke and a five-story podium parking garage with 374 spaces.

Block could break ground on The Madison as early as the second half of 2022, pending plan approval. ... The developer has not requested incentives.
...

https://www.bizjournals.com/kansascity/ ... 2021-11-22

A couple of new photos.

If this project goes through, will be an important step proving KC can draw investors to high rent properties w/out incentives, especially-in a time of RBN trends and still high construction costs/labor issues.

The taller building has kind of a 1970's Fort Lauderdale vibe. I kind of like it. That second, shorter building though....

earthling wrote: ↑Mon Nov 22, 2021 10:35 am If this project goes through, will be an important step proving KC can draw investors to high rent properties w/out incentives, especially-in a time of RBN trends and still high construction costs/labor issues.

Its a family's legacy project. Still need to get debt lined up. This is not a typical project.

^Yeah, agree it's not typical but if it gets financed in this environment w/out incentives, it's still a significant milestone.

beautyfromashes wrote: ↑Mon Nov 22, 2021 12:27 pm The taller building has kind of a 1970's Fort Lauderdale vibe. I kind of like it. That second, shorter building though....

...also has a 1970's Fort Lauderdale vibe.

chaglang wrote: ↑Mon Nov 29, 2021 2:25 pm

beautyfromashes wrote: ↑Mon Nov 22, 2021 12:27 pm The taller building has kind of a 1970's Fort Lauderdale vibe. I kind of like it. That second, shorter building though....

...also has a 1970's Fort Lauderdale vibe.

I get a 1980 College and Quivera Tippens vibe. Bad beige formed stucco, bad arched windows but didn't want to pay for the window arch glass so just filled it in, bolted on balconies, tinted glass...it's bad. It might be the worst new construction building I've seen in the city in a long time.

beautyfromashes wrote: ↑Mon Nov 29, 2021 5:02 pm

chaglang wrote: ↑Mon Nov 29, 2021 2:25 pm

beautyfromashes wrote: ↑Mon Nov 22, 2021 12:27 pm The taller building has kind of a 1970's Fort Lauderdale vibe. I kind of like it. That second, shorter building though....

...also has a 1970's Fort Lauderdale vibe.

I get a 1980 College and Quivera Tippens vibe. Bad beige formed stucco, bad arched windows but didn't want to pay for the window arch glass so just filled it in, bolted on balconies, tinted glass...it's bad. It might be the worst new construction building I've seen in the city in a long time.

Speak for yourself.

Then again, I guess that's easy for you to say when there's hardly been any new construction building in this city over the last thirty years. When was the last actual high-rise built.. 1985?

im2kull wrote: ↑Mon Nov 29, 2021 8:26 pm Speak for yourself.

Then again, I guess that's easy for you to say when there's hardly been any new construction building in this city over the last thirty years. When was the last actual high-rise built.. 1985?

You like that short building?!? Seriously, what aesthetically do you like about it?

Shoutout to Tippins! lol

For consideration: A 30 story building in the Northwest corner of the Plaza would be out-of-place. Besides, the larger footprint will further utilize the open space.

Subjectivity aside (I find the artist renditions to be attractive); the development brings high-end product into the Plaza attracting a demographic which has disposable income.

The plaza must re-focus on boutique/high-end retail and crucially: Hospitality (restaurants/pubs/events areas). Classic retail has changed permanently (captain Obvious says); hence traditional shopping venues cannot sustain the Plaza.

This residential product will bring the live-in audience to consume the upscale product the Plaza must offer to survive.

In my day it was art shows in the plaza that brought out the elegant people to strut around and be seen flaunting there status. As a young child hanging out with my middle class grandfather selling his junk yard sculptures, I was amazed at the difference of life styles, and the lack of compassion of these rich people. But they did fork over alot of cash for "ART".

It looks like there is something on the council agenda for this project next week