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(Bob Specht) #2

Number of projects underway or with proposals in #DTKC.

718 Grand
Scarritt Building - 818 Grand
Old Federal Reserve - 925 Grand
Pickwick complex - 10th & McGee
Argyle Building - 12th & McGee
Butler Brothers Lofts - 804-808 Broadway


(Bob Specht) #3

Looks like the ‘Executive Plaza Building’ (720 Main St) may have some development coming.


(Bob Specht) #4

“As part of the organization’s Chapter 7 bankruptcy proceedings in U.S. Bankruptcy Court in the Western District of Missouri, the club is selling its clubhouse at 918 Baltimore Ave. for $1.95 million or best offer. The club, a business institution for more than 130 years, fell on hard times in the past decades and closed its doors in late May after its leadership decided that bankruptcy was the most sensible option for addressing its financial issues. The club’s liabilities are $1,451,660.71, according to the bankruptcy filing.”

http://www.bizjournals.com/kansascity/news/2015/06/30/kansas-city-club-918-baltimore-building-sale.html


(Bob Specht) #5

Legal battle between CVS and Commerce Tower Group about the downtown CVS location. CTG seems to be wanting something nicer in the space.

CVS is in a court fight to keep lease on its downtown pharmacy

"In early June, the pharmacy, doing business as Missouri CVS Pharmacy, filed a lawsuit in Jackson County Circuit Court against Commerce Tower Group, the landlord. CVS said it needs an injunction to prevent Commerce Tower Group from terminating its lease agreement without proper cause.

CVS “is proud to be the only pharmacy serving the downtown community and it is committed to continue providing that service,” the drugstore chain said in a statement. “However, (Commerce Tower Group), in an attempt to redevelop the property in violation of the lease agreement, has notified CVS that it is in default of the lease based on disputed allegations that it failed to properly maintain the premises.”

Michael Knight, a partner in Commerce Tower Group, said the CVS property “is in horrible condition and they are in default of their lease. Their lease is terminated and that’s it. They seem to think it’s still 1995 and aren’t plugged into what’s happening downtown. They’ve got plumbing dating to 1941. They’ve got asbestos. That can’t be abated with people in it.”

Knight said he wants to build CVS a new space, fix the sidewalks, put in new lighting, take the shrink wrap off the windows and make it look inviting like Cosentino’s Market Downtown.

“We need to fix the space and improve it, and we need a willing partner to do it,” Knight said. “There will be a pharmacy in that space going forward, whether it’s CVS or somebody else. It’s too important to the neighborhood.”

Knight said he has offered to give CVS temporary space in Commerce Tower, in the old bank lobby, for the pharmacy during any remodeling.

Commerce Tower Group is also seeking to renovate the neighboring 1964-era Commerce Tower into a multi-use complex. The proposed apartment, school and parking garage conversion of the 31-story office tower is scheduled to be done by the end of 2017, assuming financing details are ironed out."


(Kyle Mc Cullough) #6

Developers plan a $65M rebirth for Pickwick Plaza

“Ready to roll”


East 9 at Pickwick Plaza | Downtown | Residential (260 units)
(Bob Specht) #7

Looks like artist housing planned for the Scarritt Building fell through, but it and the Scarritt Arcade were just purchased.

Deal for Scarritt Building: ‘It was like robbing the bank’

Developer Wayne Reeder and his family trust have acquired the 12-story Scarritt Building, 818 Grand Blvd., and the four-story Scarritt Arcade, 818 Walnut St.

Reeder said the conjoined historic buildings, both built in 1907, are only about 35 percent occupied after a prolonged and failed attempt to convert them into affordable apartments. His plan is to refill them with office users while maintaining about 10,000 square feet of existing event space. The buildings total about 158,000 square feet.


(Bob Specht) #8

Google leases office space downtown - KC Star

Google Fiber has leased office space in downtown Kansas City at 908 Broadway, a spokeswoman confirmed Friday. The offices house employees handling operations, engineering and sales.


(Bob Specht) #9

Scarritt Arcade looks to be touting the new owner and leasing office space.


(Bob Specht) #10

Remodeling to begin at historic Hotel Phillips - KC Star


(Bob Specht) #12

New coffee shop and cocktail lounge look to be coming at Hotel Phillips.

http://www.bizjournals.com/kansascity/news/2016/01/14/hotel-phillips-renovations.html


(Kurt Rotering) #13

Is anything going in on the southwest corner of 10th and Wyandotte? They are tearing down the old parking garage.


(Bob Specht) #14

A new parking garage! Planned to be a bit prettier and have greenery + setbacks along Wyandotte & 10th. Maybe an improvement, but far from ideal.


(Kurt Rotering) #16

Better than nothing, thanks for the quick reply.


(Brian Hartley) #17

Correct, part of the overall master YMCA plan. I would prefer something other than a parking garage but a prettier one is a step up, right?!


(Brian Hartley) #18

This renovation is going to be top to bottom, 22 million dollars. Stripping every room down to the studs. Should be finished up in October.


(Bob Specht) #19

Pickleman’s is opening their first location downtown, moving into the old Zaina (moved to Grand) location. Should have evening hours.

Eggtc is also opening a location downtown.

http://www.bizjournals.com/kansascity/blog/morning_call/2015/12/eggtc-downtown-kcmo-location.html


(Bob Specht) #20

Restaurant Update

Eggtc. cancelled plans for downtown locations.

Pickleman’s is still in the middle of the remodel.

Hotel Phillips (Baltimore & 12th) renovations will bring a new Italian concept, coffee shop and speakeasy.

Plowboys Barbeque moved to the bigger space in Town Pavilion, 12th & Main. Ruby Jean’s Juicery will take over their previous space at Petticoat & Main.


(Bob Specht) #21

Exciting to keep this in the core!


(Bob Specht) #22

(Bob Specht) #23

Back open – without experiencing, looks like it’s a pretty similar setup.

Also, new lease up in P&L.