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Friday, February 2, 2018
Prime Crown Center development site hits the market


By: Rob Roberts

Source: https://www.bizjournals.com/kansascity/news/2018/02/02/crown-center-development-site-for-sale.html

On the heels of selling the largest development site in the downtown Kansas City area last month, two brokers at Block Real Estate Services LLC are marketing a prime development site at Crown Center.

BRES Principal Michael Block and Sales Associate Keiten Nuspl are listing the 4.4-acre site with an asking price of $9.57 million, or $50 a square foot. It is located south of 27th Street between Grand Boulevard and Warwick Trafficway.

The seller, Hallmark Cards Inc., is seeking a buyer interested in developing the site in accordance with existing plans for the area, which is part of an urban renewal district. According to Nuspl, those plans call for midrise to high-rise multifamily development of the site.

Featuring flat terrain and centralized utilities, the already assembled land is primed for development, BRES said in a release. The site is located just east of the Kansas City streetcar extension route down Main Street from Union Station to the University of Missouri-Kansas City's Volker Campus just south of the Country Club Plaza.

Block and Nuspl said the site is primed to attract developers from across the country.

Last month, Indianapolis developer Milhaus LLC entered into a contract to buy a nearly two-block development parcel that Block and Nuspl had listed in the East Crossroads.

That 5.77-acre site, which the brokers described as the largest redevelopment site in Downtown, is bounded by 19th, 20th, Oak and Cherry streets. It was listed for for $7.5 million.

Milhaus, which is working on the $80 million Gallerie mixed-use developmentbetween Crown Center and Union Hill and a smaller mixed-use project at 27th and Troost Avenue, is expected to bring another of its mixed-use projects dominated by apartments and neighborhood retail uses to the recently acquired East Crossroads site.

If that's the case, it would be the first mixed-use project in the East Crossroads.

Tags:    Michael Block   Block Real Estate Services   Commercial Real Estate   Commercial Real Estate Kansas City   Real estate listings   Brokerage services in Kansas city   Land for sale   BRES