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Hotel Bravo | Crossroads | Hotel (145 rooms)

crossroads
hotel
newconstruction
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(Bob Specht) #1

04_Bravo-SW-Street-3d

Location: 1625 Wyandotte St, Kansas City, MO 64108
Developer:
Architect: CannonDesign & Rich Kuhl, WSKF Architects
Construct: JE Dunn Construction
Investment: $63 million
Groundbreaking (planned): Q2 2019
Completion (planned): Oct 2020

Type: Hotel
Size: 145 rooms
Pricing: Luxury
Additional Uses: TBD

Construction: New
Height: 12 stories
Space: TBD

Parking: 0 spaces
Transit: KC Streetcar (2 blocks), Main MAX (4 blocks)


(Bob Specht) #2

(Bob Specht) #3

Star Editorial Board rails against the project’s proposed incentives, without mentioning the included payments in lieu of taxes that would be over 100x current property tax rate – pretty poor journalism there.


#4

Nothing like taking NIMBY to the Kansas City star level. Sure, Incentives for a hotel of this kind are odd but the good outweighs the bad here.

Example A:

Blockquote: The property currently generates about $1,500 in annual property taxes. Under the proposed TIF agreement, taxing jurisdictions would see that amount increase to $200,000 in the first year and rise gradually to $400,000 in the final year of the 23-year TIF Plan.
After the plan expires, the project would pay the full property tax of $1.3 million. Cross First Bank of Kansas City would be the private lender.

I know the mayoral candidates are trying to appeal people across town so it’s no wonder that they are seemingly against incentives for something like this. But after the election, I don’t believe they will be against incentives following the election. Quinton Lucas puts it the best…

Blockquote: It was mayoral contender and Councilman Quinton Lucas who pointed out that TIFs become massively unpopular every four years when candidates are running for office. This year will be no exception.

Personally, I want this to happen, but I hope the opposition doesn’t kill this before it gets the chance to promote discussion on what to do next.