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<\/a><\/p>\nLocated in the heart of downtown Kansas City, with more than a half million square feet of dining, shopping and entertainment venues, the Power & Light District could see the rise of the highest residential building ever built from ground up in downtown Kansas City.<\/p>\n
The plan calls for the development of a 250-unit tower at the northwest corner of 13th and Walnut streets. The 23-story (approximately 230 feet) tower, designed by Humphreys & Partners Architects will offer direct access to the Jones\u2014a rooftop swimming pool and club on the adjoining garage.<\/p>\n
Redevelopment of the Midland office building, which has been empty for over 12 years, is also part of the plan. The Cordish project aims to renovate the 12-story tower, situated on the northeast corner of 13th street and Baltimore Avenue, into 68 apartments.<\/p>\n
According to the original development agreement with the city, Cordish received a $6 million cash subsidy for the residential component of the project. Approximately $3 million of that sum has been spent to prepare the foundation for a high-rise at the site, but that project and a subsequent proposal for a 35-story hotel and condo development crumbled mainly due to the recession.<\/p>\n
The new development agreement, if approved by the Kansas City Council, will include an $8 million cash subsidy and a 50 percent property tax break over 25 years. The $8 million subsidy will include the balance of $3 million from the original development agreement and the remainder will come from a $10 million bond issue approved by the city council last year to support more downtown residential development.<\/p>\n
If the development agreement is approved by the Kansas City Council, the two projects will break ground in the first half of 2013. The renovated 68-unit Midland building is scheduled to be completed by the end of 2013, while the new 23-story One Power & Light Tower is planned to be finalized in 2015.<\/p>\n
Rendering Courtesy of: www.humphreys.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"By Gabriel Circiog, Associate Editor The developer of the Power & Light District, Baltimore-based Cordish Companies, is planning to add two residential projects to the mix, which will represent a $70 million investment, The Kansas City Star reports. Located in the heart of downtown Kansas City, with more than a half million square feet of […]<\/p>\n","protected":false},"author":1064,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1592,21742],"tags":[1815],"class_list":["post-1004052482","post","type-post","status-publish","format-standard","hentry","category-kansas-city","category-latest","tag-national"],"acf":[],"yoast_head":"\n
Cordish Companies will Add Two Residential Developments to the Power & Light District - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cordish-companies-will-add-two-residential-developments-to-the-power-light-district\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cordish Companies will Add Two Residential Developments to the Power & Light District\" \/>\n<meta property=\"og:description\" content=\"By Gabriel Circiog, Associate Editor The developer of the Power & Light District, Baltimore-based Cordish Companies, is planning to add two residential projects to the mix, which will represent a $70 million investment, The Kansas City Star reports. 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<\/a><\/p>\n