Developers of $310M KC convention hotel submit plans, push back opening date again

The developers of the $310 million Hyatt convention hotel planned for downtown Kansas City have submitted plans for the 800-room structure and pushed back the estimated date of its completion again.

Mike Burke, a local attorney on the development team, said the City Plan Commission is scheduled to consider the plans during its April 4 meeting. The project is in an existing urban renewal district and does not require rezoning, he said, but the city must approve its design before construction can begin.

Burke, who shared a new rendering of the hotel on Tuesday, said in December that the developers expected to close on all of the hotel financing pieces — including real estate transactions, a construction loan and sale of bonds — by early April, allowing the project to open by September 2019.

Now, Burke said, he expects the financial closings to take place in May and the hotel to be completed “later in 2019, possibly in early 2020.”

The financial pieces can’t be closed until the guaranteed maximum price is delivered in early May by general contractor JE Dunn Construction, but Burke said the developers have identified a lender for what is expected to be a roughly $110 million construction loan.

Read more: Kansas City Business Journal, Kansas City Star


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