KCRag Forum

Since we retitled the thread this was included in as "proposed apts at 13th and Walnut," I thought I would start a separate topic to track this development as well. Cordish planning to renovate the long-vacant Midland office building on the NE corner of 13th and Baltimore to create 68 apartments. Construction/renovation planned to be complete by 2013.

Reno costs estimated at $1.30 per square foot. Its renovation cost was pegged at $12.5 million. Midland units would range from an average of $975 per month for a one-bedroom to $1,365 for a two-bedroom. The plan for the Midland calls for 53 one-bedroom and 15 two-bedroom units.

http://www.kansascity.com/2012/06/20/36 ... ntown.html

Let's start peeking in the windows!

https://encrypted-tbn2.google.com/image ... A_rrSJEm0s

So, is this the building we are talking about?

beautyfromashes wrote:https://encrypted-tbn2.google.com/image ... A_rrSJEm0s

So, is this the building we are talking about?

yes.

I'm so glad they are moving forward with both projects at once.

I'm willing to bet that whoever said in one of the other threads that this will lead off another large apt/residential projects or two will end up being correct.

The timing, after the tiger grant let down, is great. This buttresses the argument that downtown is growing and needs transportation

I wonder if Cordish had a contractual obligation to get started on the residential part of P&L since city bond money was set aside in the project budget for apartments? Especially the renovation of the Midland Tower.

Is this the first residential built in the loop since the early seventies(River Hills Mark II--now manhattan and whatever is the name for its twin)? This will fill in a gap in the skyline from the east and will be prominent in the view approaching DT from 71 Bruce Watkins.

Just curious. How many downtown dwellers would be interest in this type of development? From MSNBC.com "New York City "micro" apartments aim to be cozy, not cramped"

Could apartments in New York City get any smaller? Mayor Michael Bloomberg hopes so.

On Monday he announced a competition for architects to submit designs for apartments measuring just 275 to 300 square feet (25.5 to 28 square meters) to address the shortage of homes suitable and affordable for the city's growing population of one- and two-person households.

"People from all over the world want to live in New York City, and we must develop a new, scalable housing model that is safe, affordable and innovative to meet their needs," the mayor said in a statement announcing the "adAPT NYC" competition.

Bloomberg said the city plans to waive zoning requirements at a city-owned lot in the Kips Bay neighborhood of Manhattan to allow the construction of a building filled with the "micro-units."
...
Officials say there are about 1.8 million one- and two-person households in New York City, but only about a million studio and one-bedroom apartments - a sign, they say, that the city's housing stock has not kept up with its changing demographics.

Young, single New Yorkers in particular can find it hard to find an affordable apartment as demand outstrips supply.

New York City is a very different real estate environment. Apartments are difficult to find--especially large affordable ones. Everyone wants to live in Manhattan, which drives up real estate prices to astronomical levels.

Kansas City has plenty of space, and people here are used to large, inexpensive apartments.

However, the real estate market has changed a great deal in many cities. Single people make up a much larger portion of most city populations--especially single seniors. Some of the depopulation of the City south of the river is because so many single people are living in houses that used to have two or more people in them. Of course, there are other reasons like crime and blight, bad schools, etc.

In some respects, developers need to take these new trends into account, and design more living spaces for singles. Instead of building big suburban houses, small cottages on vacant lots might be called for, or small one-story row-houses.

I don't think building a new apartment building with micro-apartments would do well here. However, an older renovated building might work. The old part of the Muehlebach Hotel that is empty might be renovated combining two hotel rooms into small studio apartments with the kitchen and eating area in one room, and a combined living/sleeping space in the other. These spaces might be suitable as housing for UMKC Conservatory of Music and Dance students.

Kansas City is not dense, and real estate is not expensive enough for the micro-apartment to work in our Metro.

Oddly enough, there are a lot of small apartments sitting empty in Manhattan in old buildings. Many have not been renovated, and building owners are happy just to rent out the retail street-level space. Some simply don't want to deal with multiple tenants in the building. I used to always wonder how this could be with real estate prices so high, but it does happen.

I also have known about people who moved to LA and kept their NYC apartment because it was rent-controlled, and they want it in case they decide to go back, or visit. A lot of people in the entertainment business do it. I remember reading that even after Bruce Willis became very rich and famous, he kept his rent-controlled NYC apartment just so he'd have a place to stay when he was in the City.

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FangKC wrote: The old part of the Muehlebach Hotel that is empty might be renovated combining two hotel rooms into small studio apartments with the kitchen and eating area in one room, and a combined living/sleeping space in the other.

Given what has been rehabbed downtown for apts/hotels that is one building that puzzles me. Why not this one? Can they not decide if it is to be apts or hotel rooms? Cost? Looking for the "right" developer? Potential subsidies?

The old Muehlebach building is controlled by Larry Bridges of Executive Hills and DST via the Kansas City Downtown Hotel Group LLC.

http://www.bizjournals.com/kansascity/s ... l?page=all

During my All-Star volunteer gigs, I was in the Mariott for a bit and asked one of the GMs about the Muehlebach. He said th primary issue is the amount of asbestos in the rooms. They've looked at financials and it's more than they are wanting to spend in this market, apparently. He said they are in very rough shape and need total gutting down to the studs, replacing pipes, wiring, etc. I also asked if they're "historic" at all, and he said no but didn't know what era they were last renovated.

They might be able to apply for the Brownfields Redevelopment Program remediation tax credits to help offset costs involved in the cleanup of asbestos. They used this program to redevelop the Mainstreet Theater.

The City of Kansas City reached an agreement to purchase the theater from Larry Bridges in late 2004 while it was acquiring properties for the future Power and Light District.[10] In November 2005, the State of Missouri approved up to $938,538 in Brownfields Redevelopment Program remediation tax credits to help offset costs involved in the cleanup of asbestos at the theater. An estimated 200 dump-truck loads of asbestos and mold-covered debris were removed from the theater during the cleanup process. Power & Light District developer Cordish reached an agreement with AMC to form a joint venture, Midland-Empire Partners LLC, to redevelop both the Empire Theater and the nearby Midland Theatre.

http://en.wikipedia.org/wiki/Mainstreet_Theater

http://en.wikipedia.org/wiki/Brownfields

http://www.missouritaxcredits.com/misso ... redit.html

does anyone know the latest status on this project. it's been awhile since we've heard anything.

I would think they would get started on the Midland Office Building part first--before the new building at 13th and Walnut.

The Midland renovation would be completed by the end of 2013, and the high-rise tower— tentatively called One Power & Light — would open in 2015.

Does anyone know who the architects are that are designing the apartment layouts in the Midland tower? Helix did the theater portion, but I don't see anything on their web site about doing the office tower.

I noticed a requirement regarding the renovation of the Midland Office Tower on the City Council's Fact Sheet for the incentives for Two Light that were just passed. Part of the agreement says that the city will help find 100 parking spots for this developement.

If I had to venture a guess, the city will see if Executive Hills is willing to share some of the parking for One Kansas City Place with this building.

KCDowntown

Ahh, perhaps that is the hold up here. Have wondered why we've heard nary a peep about Midland apartments since they were announced. That sidewalk won't hold much longer.

Actually I think Cordish was originally promised parking spots from the redevelopment of the Power and Light Building and any garage built there. The current redevelopment plan doesn't include any spots for Cordish. I'm pretty sure Cordish sued the City. The City helping with these parking spot is probably part of that outcome.

since 1KCP has a new owner and two light is a go, any info on whether the midland apartment conversion will see movement?