KANSAS CITY, Mo., July 28, 2015 /PRNewswire/ -- Faultless Linen is bringing four downtown properties to market in a possible joint redevelopment venture, Mark Spence, Faultless Linen chief operating officer, announced today.
The redevelopment opportunity of this 100,000 combined square feet of space, plus a parcel of vacant land, located between 18th and 19th on Broadway, Central and Washington, follows projects like the Kauffman Center for the Performing Arts, the planned University of Missouri at Kansas City Downtown Campus for the Arts and the 20th Street streetscape project.
"There are few properties of this size remaining in the Crossroads Arts District," said Spence. "Faultless has spent most of its 120-year history here. We've taken our time to understand how this redevelopment can support the city's interest in things like the Kansas City streetcar project."
Spence said Faultless Linen, founded in 1896, operates healthcare linen rental and laundry operations in Kansas City, St. Louis and Denver. He, his sister, Susan Witcher, president & CEO, with three other siblings, represent the company's fourth generation.
The four properties are at 1915 Broadway, a three-story, brick masonry building, 36,000 square feet; 1923-1943 Broadway, a two- and three-story, brick and concrete block building, 54,000 square feet; 1929 Central, a single-story, brick veneer on concrete block building, 10,000 square feet; and 1805 Washington, 13,000 square feet of vacant land.
"The city's planned convention center hotel is the latest in more than $5 billion public and private dollars invested in Kansas City, Missouri's downtown in recent years," said Tom Volini, executive vice president of Colliers International, the group managing the redevelopment offering. "The Faultless Linen properties' redevelopment carries that transformation forward." More than $1 billion in downtown development is planned or underway.
Bob Galamba, Colliers senior vice president, said the properties allow for historic rehabilitation and new construction, "There is much going on with the burgeoning tech scene and arts community, this redevelopment could feature a loft conversion and modern office, all with great access and views."
"The Faultless Linen team is ready to be part of a joint venture that transforms these properties into highly functional, beautiful spaces," said Spence. "It excites us to bring the same progressive approach that has kept Faultless Linen as the forefront of its industry to the opportunity to bring new life to these legacy properties."
Melissa Sturges, 816 213-3248, firstname.lastname@example.org
SOURCE Faultless Linen