The $70 million office project is part of a larger redevelopment plan the firm is pursuing for the block that includes converting the historic Kansas City Club into a 144-room boutique hotel and renovating part of the historic Muehlbach Hotel into 190 apartments.
The hotel project is underway and is expected to be completed by mid 2020. No timetable has been set for the Muehlbach project, which is considered phase three of the redevelopment plan.
The Land Clearance for Redevelopment Authority approved a 25-year property tax abatement – 75% for 10 years, 37.5% for 15 years – last December. The city also will provide an annual subsidy for the garage.
Part of the project’s garage will be underground. The remaining garage levels coupled with the office floors would make it a 14-story structure, Douglas said.
The developer believes having the first new office project to be built downtown since the 1201 Walnut office tower was completed in 1991 will be well received in the marketplace.