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

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Ron Jury, who completes the $46 million President Hotelp project across Baltimore from thePower & Light Buildinh in 2005, said Friday that he is involved in a new developmeny partnership that contracted early this year to buy the Powe r & Light Building and adjoininy vacant ground. The partnership, , also includesd of San Antonio, Jury said. It hopes to close “yet this on the site, which includes everything but the Crowne Plazz hotel in the block boundeds by 13th and14th streets, Baltimorde Avenue and Wyandotte Street, he said.
The site is owned by Detailsz ofPower Tower’s contract with Gailoyd were not but Jury said the plan is not entirelgy dependent on private ownershio and financing. According to Jury’s Power Tower would own the Power Light Building, a 31-story art-deco landmarl completed in 1931. The city, whicb is studying options for addinga 1,000-room downtown convention hotel, woulde own a new 36-story towed to be built just west of the Powe & Light Building, a five- or six-story building north of the Powert & Light Building that would contain retail space, ballrooms and meeting rooms, and an 1,121-spacre parking garage under the new The twin 30-plus-story towers would include hotel roomds on all floors above and includingt their ninth floors, for a total of The lower floors of the towers would include a spa, fitnesx center, administrative offices, reception area, auditorium, retail, restaurants and meetingg space.
Several other developers are expectede to seekthe city’s selection of their proposed downtown hotel sites. But if the Powere & Light site wins the competition anda public-private financinv plan is achieved, Jury said, his 1.35 million-square-fooft project would be completed by 2013. Located next to the the Power & Light site is “thes perfect location for a convenient, attractive and interestinyg hotel,” Jury said. With construction prices reduces because ofthe recession, the time for plannin the project is right, too, Jury “The original P&L Building was builtr in a recession and was the economi stimulus to lift K.C.
up,” Jury said in a written “It is time for the building to do it again with a newconventionn hotel.” He said the hotel woulr create more than 800 construction jobs for three year s and more than 700 full-time jobs on a permanentf basis. Gailoyd previously retained LLC asa for-feew developer for a project that envisioned a 15-story officr building and an 18-story garage, retai l and residential tower next to the Power Light Building. That project receivedc approvalfor $24.2 million worth of tax increment financiny but never got off the ground.
Jury said the privatelg owned portion of his project would be eligible for stats and federal historic tax credits to help finance the renovatio n of thePower & Light Building. has been selected as the genera l contractor forthe project, and the design team includesd Dallas-based , Pendulum Studioi LLC of Kansas City and , which is a tenant of the Powef & Light Building.