Downtown Kansas City High Rise FAIL Amid Federal Investigation

Quietly at the end of the year . . . An STL developer has cancelled at least three major KC project whilst they're coping with a federal indictment. 

Our 2nd favorite developer doesn't get to this fact until SEVERAL PARAGRAPHS & after another ad break . . . But it might be important. 

Even better . . . Check the report closely and notice that KCMO is still willing to deal with the developer despite recent troubles and possibly in the spirit of Christmas . . . Check-it: 

"Lux Living’s proposed high-rise hotel and apartment proposal at 14th and Wyandotte has collapsed after the property’s California owner stopped extending its development agreement in order to seek a new buyer.

"Dan Moye, executive director of the Land Clearance for Redevelopment Authority, said his agency will still push for a major project on the site and is willing to continue working with Lux Living.

"In August, the LCRA board unanimously approved a 17-year property tax abatement for the proposal, 80 percent for 10 years, 50 percent for seven. It also waived the sales tax on construction materials . . .

"Also, Lux Living is the subject of a federal investigation in St. Louis, according to the St. Louis Post-Dispatch. The newspaper reported the U.S. Attorney’s office has subpoenaed records related to a tax abatement granted for a Lux apartment project in that city."

Read more via www.TonysKansasCity.com link . . .

Lux Downtown Tower Deal Nixed, New Buyer Sought for Land

By Kevin Collison Lux Living's proposed high-rise hotel and apartment proposal at 14th and Wyandotte has collapsed after the property's California owner stopped extending its developmen...