Developers ready to roll on $100M Federal Reserve hotel project

The partnership planning to redevelop the Federal Reserve Bank of Kansas City’s former headquarters at 925 Grand Blvd. is ready to move forward with what will be the ninth downtown hotel project in the pipeline.

Bob Mayer of MR Capital Advisors LLC, who is assisting with the project, said it also will benefit the city by helping spread the downtown renaissance that started on the south side of the loop to the north side.

Mayer also is involved in Gold Crown Properties Inc.’s $55 million project to turn the historic Pickwick Plaza Hotel into 260 market-rate apartments. The Pickwick, 933 McGee St., is just one block east of the old Federal Reserve building.

The north loop area surrounding the two historic buildings is “a ghost zone,” Mayer said, but redevelopment of the buildings will breathe new life into the area.

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