Promenade Tower Development

[Highlander]

Is this a new project?  First I've heard of it.   I hate to see the Holiday Inn go, but its not exactly a classic building and they could probably rebuild a better version elsewhere on the Plaza.

http://www.kansascity.com/mld/kansascit ... 960776.htm

[macnw]

I thought I saw something in the Business Journal about it. Sounds like it may be a possibility.

[Deleted User]

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[Highlander]

The Holiday Inn on the Plaza... let it fall.


While they're at it, knock down the ugly Homestead Studio Suites next to it.
How did the city let these goofs build thier surface lot right along Main Street?

The plaza needs the hotel options but agreed that this building would be of no loss.  Perhaps we would see the Holiday Inn rebuilt as a highrise elsewhere in the vicinity. 

[ignatius]

It also proposes a grocier in the retail building.  This is huge for those of us who live on NE side of Plaza.

[warwickland]

this would be a big boost for my neighborhood.

[ignatius]

For anyone in NE Plaza who would like to see the grocery happen, email this contact and let them know you'd like to see it happen.  It will help them sell to prospects if the interest and neighborhood support is demonstrated.

Michael Mayer
mmayer@ctmt.com



This is what I sent and he replied back that it was good to have neighborhood support...

I live in XXX condo on the NE side of the Plaza, along Mill Creek Park.  I almost chose to move to Sulgrave on S Plaza because they have an Osco in short walking distance.  A grocery store on the NE side of the Plaza would be a major improvement for those of us who live here.  It's a major desire of the residents in my building and there are other high end condos under construction around our building.

Functional urban living is about having basic amenities in short walking distance.  I encourage your plans to add a grocer to the project.  It will be a huge asset to NE Plaza residents now that Highwoods is only interested in catering to tourists and not residential amenities.  The grocery also would raise the values of our homes.

Please move forward with your grocery plans, whether the larger building becomes office, hotel or residential.

[GRID]

Update on this project:

123 million dollar project
12 floors
230,000 sq ft
160 room boutique hotel
47,000 sq ft retail (possible Wild Oats)
1060 space garage
1 acre park
construction to start fall 2007



Imagine if american century ever builds their tower, that would be a nice little canyon on Main St.

[BVC]

Imagine if american century ever builds their tower, that would be a nice little canyon on Main St.

Then it may even start to resemble a real city, huh?    Now I am getting more disappointed in the decision to let the lowrise project proceed across from Mill Creek Park...

Anyway, maybe AmCentury will get off their ass and build their tower soon.  Then, hopefully we could see H&R Block's old HQ knocked down and turned into a couple nice towers.

[warwickland]

so this is where the sculptures are?

[GRID]

so this is where the sculptures are?

Yea, where the new building in the second rendering is.  Drove by there yesterday and took a close look at the sign etc.  It's certainly temporary.  If they were going to keep that art there, I would think they would have at least used concrete footings.

Who knows though, development is hard to figure out at times.

[Midtownkid]

The sculptures do have concrete footings

[DaveKCMO]

i still don't get how someone can validate using TIF across the street from the plaza...

http://www.bizjournals.com/kansascity/s ... aily5.html

TIF Commission will hear plans to replace Holiday Inn near Plaza
Kansas City Business Journal - 11:34 AM CST Monday

The Tax Increment Financing Commission of Kansas City will hear plans Wednesday to replace the Holiday Inn at the Plaza-Kansas City with an office building, retail space and a boutique hotel.

About one-quarter of the $123.5 million budget would be covered by TIF.

The developer wants the city to issue $33.5 million of revenue bonds that would be repaid with new property taxes and half of sales and other economic activity taxes generated by the project.

Marty Development LLC, which bought the property north of the Country Club Plaza at 45th and Main streets in January 2005, comprises commercial real estate brokers Jeff Berg and David Hickman, hotel operator Doug Gamble, and Wichita developers Mike and Tom Boyd.

Most TIF money would pay for a 1,060-space parking garage. Promenade Tower, the proposed 12-story office building, would contain 230,000 square feet. Construction would hinge on leasing or selling space.

No contracts have been signed. Also planned are a new boutique hotel and 47,000 square feet of stores.

[warwickland]

i still don't get how someone can validate using TIF across the street from the plaza...

still... it is infinitely more appropriate to use it there in the urban core than in a former wheat field.

[CrossroadsKid]

i still don't get how someone can validate using TIF across the street from the plaza...

I actually think this makes more sense than some use that you may feel is more "appropriate."  Land on the Plaza is the most expensive in KC.  When you factor in that they will have to do demolition plus a huge amount of excavation in KCMO bedrock, I can only imagine what the cost of this project will be.  Sure, it has the potential to make a ton of money, but that is a HUGE risk to take considering the upfront costs involved.
In contrast, some other parts of the "urban core" are simply empty lots that basically are ready for construction once the asphalt is ripped up.  No demo necessary.  The costs just aren't the same.

[moderne]

Proposal to brand the hotel portion as ALoft by W and move Wild Oats into retail portion!

[chrizow]

Proposal to brand the hotel portion as ALoft by W and move Wild Oats into retail portion!

!

says who?

[KC0KEK]

http://www.bizjournals.com/kansascity/s ... 5&hbx=e_du

[chrizow]

that's awesome news!  it's clearly in the preliminary stages, but what a great plan!

[DaveKCMO]

if using TIF can lure W and a larger wild oats, i rescind my comments. call me a whore!