Checking in on Sunflower’s Hotel Projects
Like any real estate project, hotel development has its ups and downs based on the national economy. In the current climate, banks have made it clear that they are willing to lend on hotel projects. Many flagship brands anchoring downtown neighborhoods are aging out of their buildings, while today’s travelers are seeking modern amenities and local experiences that some hotel brands cannot provide.
Over the last few years, Sunflower has taken on three major hotel developments that have brought unique, modern experiences to travelers. Let’s take a look.
Located in the heart of downtown Kansas City, the Ambassador Hotel at 111 Grand Boulevard is a brand new addition to Marriott’s Autograph Collection.
Our team recently consulted on a 70-room addition to the hotel. Together with our operations partner, we also added a rooftop meeting space and a second boardroom. Our team was instrumental in procuring the historic tax credits (HTCs) needed to bring this ambitious project to life.
The Hilton Home2 in downtown Kansas City is a testament to Sunflower’s ability to work in even the most adverse conditions to deliver results. Our team saw a distinct need for new hotel rooms in Kansas City’s thriving downtown market and identified a blighted area just outside one of the area’s busiest streets.
Working alongside with the city and property owners, we developed an underutilized parcel of prime real estate and delivered a brand new hotel to our home city.
In September of this year, Sunflower will complete development on a brand new La Quinta concept, Del Sol. Located near the Children’s Mercy Hospital in Kansas City, this 92-room hotel will contribute to the infill and growth surrounding Troost Avenue.
Our team has managed the entire development process and procured $9.2 million in new market tax credits to help fund the project. Based on the nearby hospital and downtown’s urban renewal, we knew this property was a prime location for a hotel.
During this time of nationwide hotel development, Sunflower Development Group is proud to offer our financial expertise to get more projects fully funded. Let our tax credit consultants review your project and gauge its qualification for historic tax credits, new market tax credits and other incentive programs.
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