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Two Light | Downtown | Residential (295 units)

downtown
residential
newconstruction
Tags: #<Tag:0x00007fd40af6ed58> #<Tag:0x00007fd40af6ec18> #<Tag:0x00007fd40af6eab0>

(Bob Specht) #1

Location: 1444 Grand Blvd, Kansas City, MO 64106
Developer: The Cordish Companies
Architect: Humphreys & Partners Architects
Construct: JE Dunn Construction
Investment: $120 million
Groundbreaking: March 14, 2016
Completion (planned): March 2018

Type: Residential
Units: 295 apartments
Pricing: Luxury
Additional Uses: Retail (31,000 sq ft), Office (15,000 sq ft)

Construction: New
Height: 24 stories
Space: 520,000 sq ft

Parking: 450-space, seven story, new pedestal parking garage
Transit: Main MAX (same block), KC Streetcar (2 blocks)

News
Two Light is coming to Downtown in 2018
New 24-story luxury apartment tower planned for downtown Kansas City


(Josh Boehm) #2

Also mentioned in the article: around $27k a space in public money for a 499 space garage. Plus an added $17k/ residential unit

It would be nice to know if this project includes retail on the ground floor or some other active use, or if the first floor will be parking as well.


(DuRon Netsell ) #3

Unfortunate, this project will bring more parking spots than residents! Article states parking garage with 499 spots but maximum number of residents will be 450.


#4

Could be a good time to tunnel I-670 and put a park on top, similar to 366 Downtown Dallas.


(Bob Specht) #5

Incentives unanimously passed City Council today.


(Kevin) #6

It’s funny that people think there’s too much parking when the purpose is to have spots for the public.

And a 300 unit building could have more than 450 people. A two bedroom could hold two couples with four cars. You can’t assume every unit will have one person per bedroom.

If it’s all one bedrooms, if they were all two people in each that’s 600 people in the building. As rents raise we’re going to see unit occupancy density increase.

I would argue the parking is being under built, I’m amazed it’s not a larger garage.


(peter agnello) #7

I think something needs to be done with the AT&T tower it is hard to look at


(Bob Specht) #8

Considering, it seems, most from the suburbs follow their GPS to the front door of the Sprint Center, this’ll probably be the most popular garage in the area.


(Bob Specht) #9

Two Light will do a good bit to attract visual attention away from it. Who knows what its future holds.


(peter agnello) #10

Has anyone heard much about copaken&brooks proposed office tower


(Kyle Mc Cullough) #11

its all about investors. there was an article where they said in order to even think about construction, they would need a major tenant. someone to put their name on the building. i thought it would be them but apparently not.


(Kyle Mc Cullough) #12

they havent said anything about that for awhile but they did do a preliminary design awhile back. that said, it was before they even redid the main street bridge.


(Liam) #13

Class A space dowtown is 18-20 % vacancy, need to get below 10-12% before new construction considered.


(Liam) #14

Two Light Rendering from the Architect. Also Permits filed this week for design to be reviewed. review looked to be completed by Early/mid November according to the permit website. This shows that project is 3-6 months out from construction beginning.


(Liam) #15

Groundbreaking in 2 weeks. Crane going up soon.


(Bob Specht) #16

Fences went up yesterday. Here we go.

Work begins on Two Light apartment tower - KC Star

Underground site preparation has begun for Two Light, the second major apartment tower tied to the Cordish Companies’ Power & Light District development.

An official groundbreaking has been set for March 14, according to Nick Benjamin, who leads the company’s Power & Light business.

Meanwhile, traffic lanes on Truman Road have been narrowed to accommodate work on the 24-story tower that will occupy the block between Grand Boulevard and Walnut Street. The site currently is a parking lot.

Two Light, proposed as a $105 million project, comes on the heels of the successful debut last fall of One Light, a 25-story tower at 13th Street and Walnut. The initial $80 million tower opened with 315 luxury units that were 80 percent leased at the outset.

The Two Light plan, as introduced last April, is to include 300 luxury residential units on 18 floors atop six stories of parking and commercial space. The garage, proposed for 499 spaces, is to include public parking.

Both towers are receiving public dollars, primarily to assist the garage construction costs. The deals also provide 25-year property tax abatements on the added value of the developments, but Cordish is making payments in lieu of taxes that Benjamin said are greater than the 50 percent abatement.


(Bob Specht) #17

A few more details coming out about the project, including some alterations to balconies on the south side.

http://www.bizjournals.com/kansascity/news/2016/02/19/cordish-co-two-light-construction.html


(peter agnello) #18

Is groundbreaking on the 14th?


(Brian Hartley) #19

Yes, that is correct.


(Liam) #20

Here is an article on the groundbreaking with new renderings.

Two Light ‘groundbreaking’ celebrates growth of Downtown - KCBJ