By Kevin Collison
A 5.4-acre site that includes the former Conklin Fangman car dealership has hit the market, a huge development opportunity along the planned Main Street extension of the streetcar from downtown to UMKC.
“It’s an incredibly valuable piece of property,” said Kevin Klinkenberg, executive director of Midtown KC Now. “For the right developer, it’s the opportunity of a lifetime to have that major property.”
The offering for what’s being called 3200 Main Street was listed recently by Colliers International. Conklin Fangman Investment of Hutchinson, KS, still owns the land, according to Klinkenberg. The firm purchased the property in 2007.
A representative at Colliers declined to comment. There is no asking price included with the listing.
The sprawling site borders on Linwood Avenue and Main, and is close to the planned 31st and Main streetcar stop and Penn Valley Park.
“With over 550 linear feet of exposure along Main Street, the Property is perfectly positioned for a high density development along the upcoming KC Streetcar Main Street extension line,” the Colliers International offering memorandum stated.
“The extended streetcar line will dramatically enhance the Midtown corridor and the Property is perfectly positioned to be at the heart of this growth.”
There already has been a major land rush along the Main Street corridor in anticipation of the streetcar extension, which received its full federal funding last week and is currently scheduled to be operational by early 2025.
Mac Properties, a big Chicago-based developer of apartments in Midtown, recently purchased a large property at the southwest corner of Main and Armour and anticipates building a mixed-use project that would include potentially 300 apartments.
Lux Living, a St. Louis developer, has plans to develop a 192-unit apartment project at Westport Road and Main that would preserve and incorporate the historic Katz Drug Store.
An entity listing the same address as Financial Holding Corp., a business controlled by the Merriman family, has purchased the former Holiday Inn at 45th and Main and plans to demolish it to make way for a residential property.
And Exact Partners recently completed the renovation of the historic Netherland Hotel and Monarch Storage buildings at 38th and Main into 144 apartments. Exact also has purchased buildings at the corners of Linwood and 39th street, 3215 Main and 3901 Main.
None of these acquisitions are as large as the 3200 Main property. The car dealership is currently called Main Street Buick GMC and its lease expires in August 2022.
“It’s so large, it would likely be developed in phases,” Klinkenberg said. “It’s a landmark opportunity.”
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