Downtown Kansas City Suffers Hotel Glut?!?

This switcheroo seems to indicate that investors aren't very confident about even more hotels inside the loop . . . Here's the word:

"An unnamed joint venture group has approached FRBH (Federal Reserve Building Hilton) LP seeking to move "quickly" to renovate the 21-story building at 925 Grand Blvd. into apartments, plus mixed uses such as retail and restaurant, instead of the approved — but stalled — 284-room hotel. Financing and final revised plans are in progress, enough that the conversion could start in the fall and wrap up in late 2025."

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

Downtown KC's former Federal Reserve building may pivot from hotel conversion - Kansas City Business Journal

An out-of-town developer for years has faced challenges financing a hotel conversion of Kansas City's former Federal Reserve building. Foreign investors have learned that the historic property now instead may be renovated into something else - and reopen late next year.