Development
ARTerra Apartment Project in Crossroads District Expected to Set New Bar for Downtown Rents
By Kevin Collison It was only a few years ago that apartment developers in downtown Kansas City dreamed of getting $1.50 per square foot in rent. Last week at the groundbreaking for the ARTerra project, developer Jon Copaken said its units will go for $2.30 per square foot, the same rate as Two Light, the…
Denver Investor has Discovered his Development ‘Play’ in River Market
By Kevin Collison Craig Slawson knows a lot about oil exploration, a business his family has been in for 60 years. In that industry, when you find a ‘play,’ you’ve identified a geological region where conditions are ripe for discovering oil fields, lots of them. Now that he’s expanded into real estate, the Denver-based founder…
Kemper Arena Developer Receives State Historic Tax Credits, Last Hurdle Before Beginning Mosaic Arena Project
By Kevin Collison The $39 million redevelopment of the former Kemper Arena into an amateur sports and fitness complex that’s expected to draw a half million out-of-town visitors yearly to the West Bottoms has cleared its last financial hurdle. Developer Steve Foutch of Foutch Brothers LLC expects to begin work within two weeks on his…
Sale of The Kansas City Star Press Pavilion for Fraction of 2006 Cost Reflects Declining Newspaper Industry
By Kevin Collison When it opened in 2006, The Kansas City Star Press Pavilion was hailed as a major contribution to the revitalization of downtown and the latest technology in the newspaper industry. The striking 434,000 square-foot building clad in green glass and copper covered two city blocks, rising from four stories along 17th Street…
Historic Hotel Bray in Downtown Kansas City to be Redeveloped as Apartments
By Kevin Collison A slender downtown architectural beauty, the historic former Hotel Bray at 1114 Baltimore Ave., is being redeveloped as an apartment project by developer John Bennett Jr. The nine-story building is 25-feet wide and 125 feet deep, and is wedged between the Hotel Phillips and the Italian Garden garage on Baltimore. Bennett plans…