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Chicago & Midwest  + Midwest  + Industrial  |  May 22, 2024
Jasmine Kilman
By: Jasmine Kilman

Building Demolished to Make Way for $500M KC Development

The former Weld Wheel Industries building, a 114-year-old, nine-story building in Kansas City, was recently demolished to make way for a $500 million development project. Located at 933 Mulberry Street, the building’s removal by Remco Demolition LLC marked the start of work on new housing, office and retail space to redevelop the historic West Bottoms neighborhood.

The property’s owner, New York-based developer SomeraRoad Inc., had secured a public financing plan for a $526.7 million re-imagining of the central West Bottoms. They plan to convert 13 historic buildings as part of the project, which is expected to create 1,600 new housing units.

SomeraRoad won approvals for a $86 million, five-story, 290-apartment community with 9,207 retail square feet, with construction targeted to take place between 2025 and 2028. Kansas City also agreed to give SomeraRoad Inc. $2.6 million to help offset demolition costs on the building, which has been vacant since 2003.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!

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SomeraRoad Inc

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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