Indianapolis developer pursuing $125 million downtown apartment plan

An Indianapolis developer with local roots is planning to build three separate downtown apartment projects totaling 661 units in the Quality Hill and West Crossroads areas. Jim Thomas, a partner with Cityscape Residential who grew up in Raytown, wants to enter the urban market in a big way with an investment in new apartment construction totaling $125 million.

Crossroads battle pits hotel vs. billboard

Jason Swords is working on a deal for a 110-room Hilton Home2 Suites on behalf of Overland Park-based True North Hotel Group. The five-story hotel is being proposed for the almost vacant southeast corner of 20th and Main streets along the downtown streetcar route. Towering in the way, however, is a billboard owned by Lamar Advertising. The sign is protected by a “perpetual” visual easement that says nothing can obstruct its view.

Senior living apartments are planned for the Mission Crossing development

A $15 million senior living apartment project is scheduled to break ground next week at the Mission Crossing development off Metcalf Avenue in Mission. Lane4 Property Group is teaming with Welcov Healthcare and Tetrad Corp. to develop the three-story, 101-unit apartment project called The Welstone. It is expected to open in early 2015.

Missouri auditor criticizes historic tax credit program

A new audit of the program, the oldest and largest in the nation, concludes that it has been helpful in restoring many buildings but is not an effective use of state resources. The report by Missouri Auditor Thomas Schweich estimated that each historic tax credit dollar yielded 49 to 85 cents toward rehabilitation costs.

Construction contracts decline in KC area in February

McGraw Hill Construction reported contracts totaling $129.6 million issued last month, compared with $183.7 million in February 2013. Nonresidential contracts were down 25 percent to $64.2 million and residential contracts were down 34 percent to $65.3 million.

Downtown KC charter school wins support to double size

A plan by Crossroads Academy of Kansas City to double its size by this fall with the help of $5.5 million in tax incentives was endorsed Monday by the Kansas City Tax Increment Financing Commission. The fast-growing downtown charter school wants to acquire the building next door so it can expand to include middle school students.

91-year-old woman in Lawrence resists developer

The offer seems a reasonable price for a one-bedroom, 840-square-foot house built nearly 100 years ago: $600,000. But Georgia Bell has turned down a Chicago developer who is planning a five-story, state-of-the-art residential and retail complex with 156 student housing units.

Kansas City-area housing market was stable in February

Average sales prices for new and existing homes were up slightly, according to the Kansas City Regional Association of Realtors. At the current sales pace, there is a 4.4-month supply of existing homes, making it a solid seller’s market. There is a 6.2-month supply of new homes, which represents a balanced market.

Disingenuous response to Border War olive branch

Message to Kansas: If the latest disclosure that Cbiz and Mayer Hoffman McCann may take the money and run from Leawood to the Country Club Plaza isn’t a big enough wake-up call in our cannibalistic Border War, what is it going to take? The tit-for-tat has become the poster child for how silly incentive-based economic development can get.

Cordish will break ground April 14 for a downtown Kansas City apartment tower

One Light, the first new residential tower built downtown since the 32-story San Francisco building opened in Crown Center in 1976, was first announced 11/2 years ago, but Cordish officials said design tweaks to the 315-unit building delayed its construction start. If the 25-story apartment project at 13th and Walnut is a success, Cordish plans to build three more high-rises.

Decision on enlarging Crossroads Academy is delayed

The plan would double the size of the downtown charter school so it could accommodate middle school students. The Kansas City Tax Increment Financing Commission postponed consideration of the school’s request for $5.5 million in TIF assistance until March 24.

Twelve-story office tower is proposed for Country Club Plaza area

A developer is proposing a $78 million office tower at 46th Terrace and Pennsylvania Avenue, the first new office project pitched for the Country Club Plaza area since a controversial plan fell through three years ago. The 12-story building is being pursued by Block Real Estate Services for a 1.5-acre location where the firm had proposed a hotel project last year.

One Kansas City Place has a new investor from California

Gaw Capital Partners USA of Los Angeles has partnered with Leawood-based Executive Hills Management in conjunction with the refinancing of the skyscraper at 12th and Main streets. Its major tenants include Kansas City Power & Light, Bank of America and the Bryan Cave law firm.

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