Will the Kempers ever build new Skyscrapers? (Kansas City, Commerce: real estate, lease) - City-Data Forum

brewcrew1000 · 12-23-2010, 09:26 AM

The two cousins should have a skyscraper competition on who can build the best/tallest/most unique. The Commerce Bank building is kind of blah in my opinion and I couldn't even tell you what the UMB building looks like.

UMB and Commerce are 2 of the best run banks in the US and were never affected by the recession.

It's time for the Kempers to open their pockets and leave something iconic for Kansas City.

aragx6 · 12-23-2010, 09:38 AM

I freaking love the Commerce Bank building. It's got this cool '60s retro, Mad Men kinda vibe that I dig.

RichMonk · 12-23-2010, 11:37 AM

Maybe we should work on the scores of empty towers first.

aragx6 · 12-23-2010, 11:40 AM

Are there really scores?

RichMonk · 12-23-2010, 12:14 PM

Quote:

Originally Posted by aragx6

Are there really scores?

Just on my walk to P&L from my building on 11th and Broadway I pass several towers that are quite empty. Of note, there is the beautiful New York Life building. The buildings on each of the corners on 11th and Baltimore look pretty empty with the big for lease signs. I know several of the buildings along Main St. are having troubling vaccancy rates. According to KC Business Journal the KC metro has a vacancy rate around 20 percent with downtown numbers a little higher. Those are record vacancy rates that haven't been seen since 1992.

KC Downtown has approx. 20,000,000 square feet of office space. Thats 4,000,000 square feet of available space. For reference, Commerce Tower has 450,000 square feet.

I guess there aren't scores of buildings in KC to begin with. But any investor would be stupid to build a tower right now.

EDIT: add to the fact that larger corporations over the past two decades have favored sprawling campuses and tend to head for the suburbs and build new instead of filling our downtown with workers.

lifelongMOgal · 12-23-2010, 12:44 PM

Quote:

Originally Posted by brewcrew1000

..................It's time for the Kempers to open their pockets and leave something iconic for Kansas City.

As though they have not done so already and repeatedly.

Kemper Arena
Kemper Art Museum
The American Royal
Support to the KC Rep. Theater via R C Kemper Charitable Trust
Support to the Kansas City Ballet " " "" " " ""
Support to the United Way of the Plains "" " ''
"" "" "" Kansas City Community Gardens
"" "" Harmony
"" '' ArtsKC Fund
Millions of dollars in gifts from the William T. Kemper Foundation to Missouri Universities and medical research.

(just to touch the surface)

brewcrew1000 · 12-23-2010, 01:07 PM

I thought they just put there name on stuff, didn't think they actually bought the arena, and art musuem. Sorry

Isn't the New York Life building about to be occupied by the Catholic Diocese, i thought i saw something about that, they are going to move their office on Armour to this building.

RichMonk · 12-23-2010, 01:42 PM

Quote:

Originally Posted by brewcrew1000

I thought they just put there name on stuff, didn't think they actually bought the arena, and art musuem. Sorry

Isn't the New York Life building about to be occupied by the Catholic Diocese, i thought i saw something about that, they are going to move their office on Armour to this building.

Ah, so they are. They will be putting 180 employees in there. Though I doubt that is enough to fill the 175k square feet and they are vacating another building nearby which doesn't really change the overall issue.

To be fair, much of the nation is suffering from high vacancy as firms merge and small businesses close up shop. However, that only reaffirms my belief that our country, and Kansas City, is overbuilt and investing should go to things that fill those buildings. I am sure this will happen while the economy recovers as investing in real estate isn't the cash cow it used to be.

lifelongMOgal · 12-23-2010, 03:42 PM

Quote:

Originally Posted by brewcrew1000

I thought they just put there name on stuff, didn't think they actually bought the arena, and art musuem. Sorry
..........

I didn't suggest that the Kempers had "bought" the buildings. However, the development would not have taken place and the buildings (Kemper Arena & American Royal specifically) would not be open today without their continued support. Likely the KC Ballet's new diggs would not have been possible either without their and the support of other KC "old money" families.

It drives me nuts when people think that wealthy "old money" Kansas City families do not do enough for our city. Kansas City "old money" families in fact are quite philanthropic in general and Kansas City is lucky to have them and their support for our arts, entertainment , education and health institutions.

Suggest the OP do a search under several of the big KC family names for charitable trusts and foundations to see how much our traditional "civic" institutions depend upon their continued generosity.

Perhaps it is past time for some of Kansas City's "new money" to step in and fill some gaps!

brewcrew1000 · 12-23-2010, 03:58 PM

Also, i really didn't mean the Kemper Family, i meant clearly in terms of Business, so maybe i should have never said the Kempers, i just said Kempers because they own the banks and both banks are doing outstanding and are bound to grow in the next decade beyond this region, possibly grow into national banks.