New Developments Without Incentives are a Good Sign For KC
by Jeff Pinkerton
The Kansas City Star’s Kevin Collison wrote an interesting article about two recent hotel developments that will be built in Kansas City’s urban core without any public incentives. Over the past 20 years, there has been a concerted effort on the part of the city and business interests to revitalize Kansas City’s central business district. Typically, these efforts required the public sector to step in to incentivize private developers in order to make these projects feasible.
Investments in the urban core (such as the Power and Light District, new housing developments, enhancements to the convention center and the upcoming streetcar) have created momentum, and the private sector is jumping on board.
Two hotel developments don’t necessarily make a trend, and we don’t expect this to mark the end of economic incentives in Kansas City development. There will no doubt be projects in the future where public incentives make sense. But it is certainly encouraging to know that private developers are looking at Kansas City as an investment opportunity, with or without incentives.