More than 100 redevelopment boosters gathered Tuesday afternoon to hear Thomas Smith thank dozens of people who helped his eight-year effort to begin rehabilitating a once-grand city block in downtown Kansas City.
The “renovation celebration” in the former Pickwick Hotel and bus terminal property at Ninth and McGee streets was a symbolic groundbreaking on a $65 million renovation of the 85-year-old property.
Smith, of Gold Crown Properties, emphasized the value of federal and state historic tax credits and city tax abatement as well as multiple sources of private lending, investments, legal and financial advice.
The extensive renewal project is turning an entire block into 260 rental units and a 300-space parking garage along with an indoor swimming pool, some retail space and other tenant amenities. The first units are expected to be ready for rent next year.