HILCO REAL ESTATE ANNOUNCES THE SALE OF ONE OF THE LAST REMAINING DEVELOPMENT SITES WITHIN KANSAS CITY'S POWER & LIGHT DISTRICT LOCATED IN KANSAS CITY, MO

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Jan 09, 2024, 13:00 ET

NORTHBROOK, Ill., Jan. 9, 2024 /PRNewswire/ -- Hilco Real Estate, LLC, announces February 15, 2024, as the bid deadline for this premier development opportunity in the heart of Kansas City's Power & Light District. Situated at the corner of Wyandotte and West 14th Street, this site is in a prime location to capitalize on the area's explosive growth, robust tourism and proximity to local demand drivers.

This one-acre site sits on the southwest side of the desirable Power & Light District, an area that has become the cultural hub of the Midwest. With this site's strategic location, it benefits from being proximate to the Convention Center, Grand Ballroom, T-Mobile Center as well as KC Live!, an entire city block dedicated to entertainment with two levels of world-class restaurants, taverns and nightlife hubs. The block also features a full-concert stage where the country's best musicians and bands perform weekly during the summer and for special events throughout the year. Nearby transportation options abound offering almost immediate access to a network of roadways, including I-70, I-35 & I-29, as well as easy access to the Kansas City International Airport. By the numbers, Kansas City welcomes over 10 million visitors a year and the Power & Light District is now home to over 32,000 residents and counting.

In recent years, the Power & Light District has also experienced a surge of residential development, with the construction of high-rise towers known as One Light, Two Light and Three Light, rivaling some of the finest apartment buildings in the country. Among such company, the subject site stands ready for the development of a world-class multifamily or hotel experience.

This sale offers investors and developers alike an opportunity to acquire one of the last well-located, infill development opportunities in this district of downtown Kansas City. The city is anxious to engage the future buyer to work towards maximizing the value of the location through various incentives, while also addressing needs of this critically important economic area.

All bids must be received on or before the deadline of February 15, 2024, at 5:00 p.m. (CST) and must be submitted on the preferred LOI document available for review and downloaded from Hilco Real Estate's website.

Steve Madura, senior vice president at Hilco Real Estate, stated, "This first-class location offers buyers not just another property to add to their portfolio, but a stake in the future of a thriving community, where progress and potential converge. We invite developers and investors everywhere to participate in this rare chance to be part of the continued transformation of the KC skyline."

Mitch Vanneman, vice president at Hilco Real Estate, added, "Home to numerous national and international corporations, including Seaboard Corp., Sanofi-Aventis, H&R Block, Hallmark Cards, Hostess Brands, Honeywell, Russell Stover, as well the federal government at 41,500 employees, Kansas City has a rock-solid employment base. The City's strong, pro-business climate makes it an exceptional market for investment and development…and this site sits at the epicenter of it all!"

Dan Moye, vice president of land development for the Economic Development Corporation of Kansas City, continued, "As the City's leaders in Economic Development, we are enthusiastic about the potential of the site at 14th and Wyandotte. In partnership with Hilco Real Estate, we are committed to supporting this project with meaningful incentives as this reflects our belief in its power to enhance our City center. Envisioning a dynamic mixed-use project, from high-quality retail and grocery spaces to residential options such as hotels, apartments and condos, we see this as a cornerstone in the ongoing transformation of the Power and Light District. This site is not just a development opportunity; it's a pivotal step in reinforcing Kansas City's status as a thriving Midwest hub."

Interested bidders should review the requirements to participate in the sale process, which are available on Hilco Real Estate's website. For further information, please contact Steve Madura at (847) 504-2478 or [email protected] or Michael Kneifel at (847) 201-2322 or [email protected].

For further information on the property, terms of sale, or to obtain access to due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate