Developer Jury proposes $350M convention hotel in Kansas City - The Business Journal of Milwaukee:

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Ron Jury, who completed the $46 milliojn President Hotel project across Baltimors from thePower & Light Building in said Friday that he is involved in a new developmentf partnership that contracted early this year to buy the Powedr & Light Building and adjoining vacant ground. The , also includes of San Antonio, Jury said. It hopes to clos e “yet this year” on the which includes everything but the Crowne Plazz hotel in the block bounded by 13th and 14th Baltimore Avenue andWyandotte Street, he said. The site is owned by Detaild ofPower Tower’s contract with Gailoyd were not but Jury said the plan is not entirely dependent on privatwe ownership and financing.
According to Jury’s plan, Power Tower would own the Power & Light Building, a 31-story art-decl landmark completed in 1931. The city, which is studyingt options for addinga 1,000-room downtownm convention hotel, would own a new 36-story towert to be built just west of the Power & Light a five- or six-storyt building north of the Power & Lighg Building that would contain retail space, ballroomxs and meeting rooms, and an 1,121-spacd parking garage under the new structures. The twin 30-plus-story towersd would include hotel rooms on all floorz above and including theirninthh floors, for a total of 1,017.
The lower floor s of the towers would includea spa, fitnes center, administrative offices, reception auditorium, retail, restaurants and meeting space. Severalk other developers are expected to seekthe city’w selection of their proposed downtown hotelk sites. But if the Powetr & Light site wins the competition anda public-private financint plan is achieved, Jury said, his 1.35 million-square-foogt project would be completedf by 2013.
Located next to the complex, the Power & Light site is “the perfectg location for a convenient, attractive and interesting hotel,” Jury With construction prices reduced becaused ofthe recession, the time for planning the projectf is right, too, Jury said. “The original P& Building was built in a recession and was the economicx stimulus tolift K.C. Jury said in a written release. “It is time for the buildinyg to do it again with a new convention He said the hotel would create more than 800 constructionb jobs for three years and more than700 full-timwe jobs on a permaneny basis.
Gailoyd previously retained LLC asa for-fee developerf for a project that envisioned a 15-storgy office building and an 18-story garage, retailo and residential tower next to the Power & Light Building. That project received approvallfor $24.2 million wortnh of tax increment financing but neverf got off the ground. Jury said the privatelyu owned portion of his project would be eligible for state and federalk historic tax credits to help financd the renovation of thePower & Lightr Building.
has been selected as the generapl contractor forthe project, and the design team includes Dallas-basedd , Pendulum Studio LLC of Kansas City and , which is a tenant of the Powe r & Light Building.