The Kansas City Tax Increment Financing Commission supports a $41.9 million TIF request for the proposed expansion of the engineering firm’s headquarters on the former Beth Shalom Synagogue site at 9400 Wornall Road.
We may not be as red-hot as Denver and Portland, Ore., but Kansas City is holding its own when it comes to attracting the Millennial generation, thanks to a vibrant cultural life and inexpensive living. The reasons why many young adults like Kansas City reverberate with other generations.
The Renaissance Office Park properties, totaling 293,872 square feet, were sold by an investment group represented by Copaken Brooks of Kansas City to CA Office. The seven-story Van Eyck building is on about eight acres at 7007 College Blvd. The seven-story del Sarto building is on 4.9 acres at 7015 College Blvd. The properties were marketed for sale by HFF.
Downtown Kansas City scored a triple play when two apartment projects totaling more than 300 units won incentives necessary to begin work and a plan to double the size of the Crossroads Academy charter school was approved.
The $35 million Lee’s Summit project, called Residences at New Longview, is planned for Kessler Drive and Longview Road near the New Longview retail center. Construction is expected to begin on the Village West complex this summer and be completed in about a year.
The new 60,000-square-foot operation will serve LightEdge, a cloud computing, co-location and managed services company based in Des Moines. The 21-employee operation is the anchor tenant for what’s being called the Subtropolis Technology Center.
The last few weeks have brought good news for downtown Kansas City, with proposals for more than 1,000 new apartments announced. But something as quaint as an old-fashioned Easter egg hunt has really captured the spirit of whats happening these days.
MindMixer plans to move headquarters and operations to Kansas City; tech firm founded in 2011 specializes in interactive online information sites for hundreds of clients nationwide, will employ 85 people
Jim Thomas of Cityscape Residential won approval from the Planned Industrial Expansion Authority to begin the process necessary to seek a tax abatement to help finance two projects totaling 386 apartments in the Quality Hill area and a 275-unit project proposed for Crossroads West near Southwest Boulevard and Interstate 35.
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.
The board of the Planned Industrial Expansion Authority, which commissioned a blight study on behalf of the city, is being asked to withdraw the report, which concluded that Bainbridge and other buildings on Armour operated by Eagle Point Cos. of Maine were a “social liability.”
The good news is, the Kansas City downtown streetcar plan has lots of people excited. The concern remains, however, that streetcar backers are overstating its effect when it comes to stimulating development, setting people up for unrealistic expectations.
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.
The company is expanding its new parts manufacturing operation in Liberty with a $48.7 million addition. The expansion will add 256,000 square feet to the existing 213,000-square-foot facility in the Heartland Meadows Industrial Park near U.S. 69 and Interstate 35.
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.
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.
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.
SoftBank Corp. CEO Masayoshi Sons recent reference to Overland Park-based Sprint Corp. being a daimyo in Kansas a big fish in a small pond while shifting key tech operations to Silicon Valley should be a warning to the region that there is a big world beyond the Border War.
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.
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.
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 sellers market. There is a 6.2-month supply of new homes, which represents a balanced market.
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 isnt 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.
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.
The firm employs 400 to 450 people and is now in a 10-year-old building at 11440 Tomahawk Creek Parkway. Rick Mills, chief operating officer of CBIZ Financial Services, said the firm is seeking 100,000 to 130,000 square feet and anticipates a decision within two months.
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.