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

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Ron Jury, who completed the $46 million Presiden Hotel project across Baltimore from thePowef & Light Building in 2005, said Fridayt that he is involved in a new development partnership that contracted early this year to buy the Powerr & Light Building and adjoining vacant The partnership, , also includes of San Jury said. It hopes to close “yet this year” on the site, whicgh includes everything but the Crowne Plaza hotel in the blockk bounded by 13th and 14th Baltimore Avenue andWyandotte Street, he said.
The site is owner by Details ofPower Tower’s contract with Gailoydx were not disclosed, but Jury said the plan is not entirelyu dependent on private ownership and According to Jury’s plan, Power Tower woulcd own the Power & Light Building, a 31-storyh art-deco landmark completed in 1931. The city, whicyh is studying options for addinga 1,000-room downtown convention hotel, would own a new 36-story tower to be buil just west of the Powee & Light Building, a five- or six-storyy building north of the Power Light Building that would contain retail ballrooms and meeting rooms, and an 1,121-space parking garage underf the new structures.
The twin 30-plus-story towerw would include hotel rooms on all floors abovew and including theirninth floors, for a total of 1,017. The lowee floors of the towers would includea spa, fitness center, administrative offices, receptio area, auditorium, retail, restaurants and meeting Several other developers are expected to seek the city’s selection of theie proposed downtown hotel sites. But if the Powee & Light site wins the competition anda public-privats financing plan is achieved, Jury said, his 1.35 million-square-foot projecrt would be completed by 2013.
Locatee next to the complex, the Power Light site is “thed perfect location for a attractive andinteresting hotel,” Jury With construction prices reduced because of the the time for planning the projecg is right, too, Jury “The original P&L Buildingb was built in a recessiojn and was the economic stimulus to lift K.C. up,” Jury said in a writtej release. “It is time for the building to do it againm with a newconvention hotel.” He said the hotel would create more than 800 construction jobs for threed years and more than 700 full-time jobs on a permanentg basis.
Gailoyd previously retained LLC asa for-feer developer for a project that envisioned a 15-story officee building and an 18-storyt garage, retail and residential tower next to the Powefr & Light Building. That projecft received approvalfor $24.2 milliojn worth of tax increment financing but never got off the Jury said the privately owned portion of his projectt would be eligible for state and federal historicv tax credits to help finance the renovation of the Power & Light Building. has been selected as the general contractor for the and the design teamincludews Dallas-based , Pendulum Studio LLC of Kansasz City and , which is a tenant of the Power Light Building.