Hotel proposal for Plaza abandoned

The Kansas City Star is reporting a controversial plan to develop a 12-story hotel at 46th Terrace and Pennsylvania has been dropped. The developers proposed using Tax Increment Financing (TIF) to build an $80 million luxury hotel.

The proposal also called for a restaurant and office space on the site, but Block Real Estate, owner of the property, said the economics did not work at the site, even with tax incentives. Block was working with Hyatt Hotels on the plan.

Block told the Star it is working on a less complex plan for an office building and parking structure on the site.

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Two new hotels for the Plaza, initial response is positive


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