Feature Image: A 25-story, 385-foot-high mixed-use building is set to break ground in 2025 at 800 Grand Ave., replacing an existing parking garage. Image courtesy of BR Cos. | Rendering credit: Hoefer Welker
The 2023 NFL Draft held at KC's Union Station brought in $164.3 million in economic impact, according to Lane4's Kansas City Report. Other "Quick Stats" cited include $35 million: the number of times “Kansas City” was mentioned April 27-30 (2023) on print, radio and digital promo; the event created 1,200 temporary jobs; and more than 68,000 pounds of leftover beverages, meals, and packaged snacks were donated to Harvesters and Pete’s Garden. Feature photo credit: Getty Images.
CBRE has arranged the sale of Fountain View on the Plaza, a 398-unit luxury apartment community located adjacent to Kansas City’s County Club Plaza.
A global investment advisor sold the property to an affiliate of Abacus Capital Group in an undisclosed transaction that closed in September 2020.
The deal represents a return to the Kansas City market for the New York-based buyer after exiting in 2016 with the sale of the 596-unit Northland Passage Apartments in the metro’s Northland submarket.
Jeff Stingley, an executive vice president in CBRE’s Kansas City office, along with senior associates Max Helgeson and Michael Spero, represented the seller in the transaction.
“Fountain View is the community of choice for Kansas City renters wanting to live at the doorstep of the metro’s top amenities and attractions, while at a discount to the submarket’s newer developments and single-family homes. The high-profile, in-fill site is among the best in the Midwest and will provide significant risk mitigation for future ownership while also enabling a perpetual modernization strategy that will drive rents and provide extraordinary yields,” Stingley said.
The stretch of Main Street directly in front of the property has been slated as a high-volume stop on the future KC Streetcar line. With the planned southern extension from Union Station to 51st Street, Fountain View will also be included as a “transit-oriented development.”
“Kansas City’s multifamily market continues to show its resiliency despite the pandemic and resulting economic slowdown. The metro’s diverse economic base and concentration of durable industries have positioned Kansas City as a safe-haven for capital and buyers are knocking down our door to find opportunities,” Stingley said.
With this sale included, CBRE’s Kansas City multifamily group has completed $250 million in metro apartment sales so far in 2020, according to Stingley.
Straub Construction is celebrating 100 years as a Kansas City community cornerstone this week while simultaneously unveiling a new company brand in honor of its centennial anniversary.
The rebranded identity and tagline - Believe in What You Build - is an appropriate reflection of Straub’s devoted partnerships and decades over decades of building a long-standing, successful construction firm.
“Our new brand reflects our focus on building communities. As a building leader who advocates for a healthier, more fulfilled community, we focus on creating partnerships with purpose-driven clients who share our vision to serve others,” said Ernie Straub III, chairman & CEO.
Ernest J. Straub, Sr. began the journey in 1920 building churches, schools and homes in the Mission Hills, Kan. area. One hundred years later, Straub Construction continues to carry on his legacy of building Kansas City communities through structures that serve others.
Impactful community projects, such as the revitalization of the Crossroads Art District neighborhood’s Corrigan Station and The Creamery Building; new Science City exhibits in Union Station; the Edgar Berkley residence, the residence of Henry Sophian and the remodel of the Stover Mansion, a beloved Mission Hills landmark, are just a few included in the firm's impressive portfolio.
“We measure our success by the lives we impact, not revenue. By 2028, we’ll impact at least 120,000 families weekly with the structures we’ve built, and we’re hoping to grow that number," said Dan VanDonge, vice president of operations for Straub.
Straub’s legacy continues to date; with current and recently completed construction projects such as the Avila Goppert Performing Arts Center, Park University Plaster Center, Ft. Leavenworth Transient Barracks and the St. Elizabeth Catholic School & Parish.
“We advocate for our clients at every step in the construction process; not because it earns more dollars, but because it drives this larger purpose forward,” said Parker Young, Straub president.
Headquartered in Shawnee, Kan., Straub Construction also has an office in the Crossroads Arts District in Kansas City, Mo.
Union Station in Downtown Kansas City on Thursday will play host to SIOR Development Day, the region's largest annual gathering of commercial real estate realtors and developers. Presented each year by the local chapter of the Society of Industrial and Office Realtors (SIOR), Development Day is considered by many to be the metro’s signature CRE networking event of the year.
“This event provides an unparalleled opportunity to network with industry leaders, highlight new projects, explore opportunities and celebrate successes - all in one setting. We are thrilled to be holding this year's event at Kansas City's historic Union Station and are looking forward to a great evening,” said 2018 Development Day Chair John Stacy, Reece Commercial.
More than 80 exhibitors and hundreds of attendees are expected to attend the free event from 4:30-7:30 p.m. in Union Station's Grand Plaza. The event includes hors d’oeuvres from Jack Stack and cash bar. Free onsite parking will be available in the Union Station parking garage.
“We value the support and participation of those in the Kansas City commercial real estate industry that help develop the Kansas City community. It is an honor to chair the 29th annual SIOR Development Day,” Stacy added.
