Thursday, October 10, 2019

Sketchy Kansas City West Bottoms Kemper Arena Real Estate Scheme Stays Losing

The Hy-vee Arena event space is too far out of the way for casual events and nobody wants to take their youngsters down by the railroad to play b-ball. To be fair, all of the charm of hobos and decrepit buildings might still lure hipsters and their disposable income.

Money line: "After a $40 million redevelopment, Foutch says the venture is not breaking even a year later."

More info and happy talk for subscribers beyond the paywall:

Former Kemper losing money in first year as Hy-Vee Arena, but developer is optimistic

There was nothing hard to understand about the former Kemper Arena - a big venue that held big events. Kansas City's former NBA and NHL teams called it home. The iconic structure hosted big names like Elvis Presley and Billy Graham. And Kansas famously won the NCAA title there during the 1988 Final Four.



3 comments:

Anonymous said...

There's just nothing quite like a "developer" who's losing money a year after his big dream started and is still "optimistic".
There just aren't enough of those guys around.
The latest gang of grifters at 18th and Vine are "optimistic", even though they've blown through over $100 million over the years with pretty much nothing to show for it.
When is this guy going to show up at KCMO city hall with another verse of the "just a few million will get us to where we need to be" story?
Dig deep KCMO taxpayers!
Momentum!

Anonymous said...

Pickleball not quite paying the bills?

Anonymous said...

We told you so