Saturday, October 10, 2020

Kansas City Developer Hype Imagines Westport High School Luxury Living Space

Economic reality suggests that the recovery from the pandemic is going to be a lot harder than most people imagine despite the urge to get back to rampant borrowing and running up debt. 

Example . . .

Europe’s major economies predict more dire declines to come as coronavirus rages

To be fair, here's municipal hype that desperately seeks a return to the KCMO toy train streetcar building boom . . . 

Historic Westport High School Would Become Apartments Under New Plan

The developers who renovated the former Westport Middle School into co-working space now are tackling the historic high school across the street, proposing a $45 million apartment redevelopment. The vacant Westport High School building, which opened in 1908 at 315 E.

27 comments:

Anonymous said...

Luxury Living Space well within the Ghetto?
Wow, what a great idea - where's the Taxpayer's checkbook?

If its such a great idea, why don't they build it out of their own pocket?
What are they going to name it, Fort Westport?

Anonymous said...

Ghetto Waldorf

Anonymous said...

Hood Hilton

Anonymous said...

Ghettolago

Anonymous said...

Ritz Ghetto

Anonymous said...

The Polished Turd

Anonymous said...

The Money Pit

Anonymous said...

The Boondoggle

Anonymous said...

Crack Tower

Anonymous said...

EBT Central

Anonymous said...

Welfare Estates

Anonymous said...

Sub-Saharan Suites

Anonymous said...

The Spearchucker Space

Anonymous said...

The Ghetto Grande

Anonymous said...

Den of Dintdonuffins

Anonymous said...

The IKANTBREEVE

Anonymous said...

CONGO CONDOS
mb

Silvestor orgalthorp said...

Good God. I haven’t laughed this hard in years
Thanks to all of the above

Anonymous said...

BETWEEN THE LINES
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Financing the ambitious redevelopment plan could be challenging.

Under a deed attached to the high school when it was sold by the district in 2016, no property tax abatements can be provided as an incentive.

Property tax abatements are often a key incentive in redevelopment projects with similar extraordinary costs. They have been criticized by the school district because they reduce the amount of future property tax revenues available to fund its operations.

Sustainable Development Partners plans to seek a loan from the U.S. Department of Housing and Urban Development.

Funding also would come from federal and state historic tax credits.

The developers also are asking the PIEA board to approve a sales tax exemption on building materials.

There is a possibility, however, the school district may be asked to modify its incentive restriction.

“We have said we’re not requesting any (tax abatements) right now,” Brain said, “but we’re leaving the door open.”
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Translation: Developers will only proceed with the project if they receive tax incentives which will cover 50% or more of the total costs. The game is to put as little of your own money at risk as possible. Make some campaign donations to get your approvals granted, over-promise on the jobs created and economic impact, threaten to stop the project multiple times unless the Council gives you what you want. KCMO Council will fold like a cheap suit, as they always do.

Anonymous said...

Yeah unvarnished racism is hilarious

Anonymous said...

You want him to interview the city council?

Anonymous said...

Central Perp

Retro ROCKER said...

If you are going to Purchase a Condo. The value of the condo will go down 2 minutes and 2 seconds,after you sign.And if you have children send them to a private school.

Anonymous said...

Real estate developers have the worst judgement of any type of person. Just look at MISSION MALL at Roe and Johnson Drive! Stupid people, just like kids they have to build something - even if its a total failure

Clayton Bigsby said...

Moon Cricket Manor

Anonymous said...

This one is tough so guess they will call PortKC for the rescue.

Gomar said...

Foutch Brothers would have had this project done 5 years ago