KANSAS CITY—Gailoyd Enterprises Group has just sold the Kansas City’s Power & Light Building to NorthPoint Development of Riverside, MO. The 30-story tower was once the tallest building in the state, but the Art Deco icon lost tenants over the years, and the new owner plans to take advantage of the downtown’s population surge and transform it into a mixed-use development with 200 apartments. The price was not disclosed. Gailoyd attempted to sell the building in 2012, reportedly for $13.75 million, but the deal fell through.

The sale included the 285,000-square-foot building, located at 106 W. 14th St., and about one acre of adjacent land on the north side of the building that NorthPoint will use for parking and 70 new apartment units for a total of 270 new units. The building currently is vacant, and NorthPoint plans to begin construction immediately. Built in 1931, it sits between the convention center and the Power & Light entertainment district, an $850-million project that now provides a host of live music venues, theaters, bars, restaurants and nightclubs.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.