
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...
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