Kansas City, MO --- July 9, 2019 --- Michael R. Block and Keiten J. Nuspl of Block Real Estate Services, LLC (BRES) are marketing a site for sale that is ripe for a multifamily/mixed-use development. The site, located at the southeast corner of 27th Street and Grand Boulevard in the heart of Crown Center, can be purchased part or all from 2+/- to 4.4+/- acres. The Seller is seeking Buyers interested in developing the infill site in accordance with the updated Master Plan for Crown Center. The site is within Crown Center’s original Chapter 353 Program, Urban Renewal District, which may assist in the removal of blight conditions by providing local property tax abatement for new development projects. There is some flexibility from the Seller in a new development plan, but the Master Plan calls for mid-rise multi-family with street level retail and/or a mid-rise office building. The site features flat terrain and centralized utilities. It is located one block east of the Kansas City Streetcar extension route that will run along Main Street from Union Station to the University of Missouri – Kansas City’s Volker Campus, just south of the Country Club Plaza.
“The property, currently a parking lot and one-story warehouse building is prime to attract not only local developers, but regional and national developers as well,” said Michael R. Block, Principal of BRES.
The Seller is responding to an “active” downtown and metro-wide real estate market as Kansas City is experiencing a lot of activity and interest within the marketplace. Timing is ripe for this under developed parcel to be marketed for redevelopment to meet market demands.
When Crown Center was first established in the 1970s, the entire mixed-use campus covered 85 acres. It is one of the nation’s first mixed-use developments and attracts more than 5 million visitors every year. Crown Center provides offices for daytime workers, hotels for overnight stays, permanent residences in condominiums and apartments, and a shopping center with movie theatres, live theatre, retail, and, restaurants as well as destinations like LEGOLAND, SEA LIFE and the Crown Center Ice Terrace. The location features the world headquarters for Hallmark Cards, Shook, Hardy & Bacon, L.L.P., Sun Life and Children’s Mercy Hospital, with a presence from many other major corporations. Union Station’s Science City, the National WWI Museum and Memorial, and the urban Penn Valley Park are within a short walk.
This great infill site is the type that developers are looking for today.
ReJournals Article: https://www.rejournals.com/block-real-estate-services-marketing-crown-center-site-in-kansas-city-20190710