'Surge in apartment growth boosts Downtown’s revival' - KC Star editorial

“The sudden resurgence of interest in Downtown apartment construction is a testament to the power of past and current investments in the heart of Kansas City,” according to the lead editorial in The Kansas City Star last Sunday.

The opinion piece went on to raise the bar on a string of recent announcements that will lead to much-needed Downtown residential space that could be available in two years — about the time that the Downtown Streetcar begins operations.

The Star’s commentary merits sharing:

“In the last few months, developers have announced that about 1,500 new and renovated units could be added by 2015.

This is positive news. The apartments will help attract more residents and add more activity to a downtown that has tripled in population to nearly 20,000 people in the last decade. One added bonus will be the reuse of several older, and sometimes historic, structures.

The news builds on the legacy of former mayor Kay Barnes and the officials who, starting a decade ago, propelled Downtown’s revival through plans to build the Sprint Center and the Power & Light District.

The proposed apartment units also help prove that Mayor Sly James and many other streetcar backers made a wise decision to push a two-mile starter line from the River Market to Union Station. While The Star disagreed with how the city funded the permanent transit system — which is expected to begin operating in 2015 — we’re glad to see it is already delivering on its promise as a valuable economic development tool.

One obstacle is that most of these projects will depend on getting local or state tax breaks, or both. The justification for giving taxpayer funds to developers must be proven in every case. The City Council and state should not hand out blanket approvals of tax abatements or other subsidies.

The city already has said it has a limited amount of public incentives to dole out for apartment construction. Much of that money is going to the Cordish Co. for the erection of a new, 311-unit tower in the Power & Light District. City officials think that investment will help boost rents in Downtown. If that happens, the thought goes, other developers should benefit from higher-paying renters and not have to seek such large incentives for their projects.

Downtown’s population could surge with the completion of the announced projects. In addition to the Cordish plan, others include:

Renovation of the 10-story Corrigan Building at 1828 Walnut St. (pictured above) into 82 apartments and a restaurant. This is a step forward for the Crossroads Arts District, given the size and prominence of the building.
Redevelopment of Commerce Tower at 911 Main St. into 265 apartments along with continued use of some office space. Again, given the significant size of the structure on the streetcar line, this is a promising re-use.
Renovation of the historic Pickwick complex at 10th and McGee streets into 261 units. Turning vacant, hulking structures that used to feature offices and hotel rooms into places of life again is a boost that Downtown still desperately needs.

Occupancy rates for Downtown apartments are high right now, so there’s obvious demand for adding more units. City officials must keep that in mind while approving judicious taxpayer help for the projects.

Within a couple of years, old and new buildings could be luring more residents to further rejuvenate Kansas City’s urban core.”

All right! Now, let’s get back to work.