$3B-Plus Development for Missouri Proposed

[barrycb]

Is this not hilarious? New York couldn't support this; let alone KC.

:confused:

$3B-Plus Development for Missouri Proposed
By Brian K. Miller
Last updated: April 29, 2004 08:21pm

KANSAS CITY, MO-NSL Holdings Inc. of Vancouver, BC, is planning a $3.5-billion two-phase development on 1,000 acres here that it says includes the world’s tallest building (2,460 feet, 115 stories); the world’s largest enclosed mall (four levels, 17.5 million sf); the world’s largest greenhouse garden; the world’s largest planetarium, and; 400 acres of indoor and outdoor theme parks.

NSL stands for Neal S. Lachman, the 33-year-old entrepreneur behind the grand idea. As proposed in a 52-page concept plan, the Grand Americana Resort Estate would be developed by Grand Americana Kansas City Inc. The company would have two major shareholders: NSL Holdings Inc. (55%) and Grand Americana Malls & Resorts Corporation (45%), a company formed for the sole purpose of providing capital for the project.

NSL says the 21st Century Group of Funds, another Lachman-owned company, has been retained to assist in raising the $3.5 billion by placing a minimum of 500 investment-units of the non-incorporated Grand Americana I Fund at $7 million per unit to qualified purchasers, each representing a 0.2% ownership of Grand Americana Malls & Resorts Corporation. Subscription to shares/partnerships of GAKC Inc. for those interested in purchasing a partnership unit is planned to be available from Sept. 1, 2004 onward.

The world’s largest building would have only 115 floors because 50 floors would be twice as tall as typical floors in order to house the world’s most luxurious hotel, with an average daily room rate of $12,500. The rest of the building would house a 2.5-million-sf convention center, two public observation decks, restaurants and an undetermined amount of office space. The mall would include a shopping mall, an auto mall and a furniture mall. The greenhouse, called “Mother Earth”, would consist of seven gigantic domes on more than 100 acres.

Approximately three million residents live within a 100-mile-radius of Kansas City, which gets more than 220 days of sunshine annually. Along with the 20 million visitors already attracted annually by Kansas City, NSL estimates Grand Americana Resort will see a minimum of 60 million visits annually, instantly making it the most visited tourist/shopping destination in the USA, generating an economic impact of more than $3 billion and employing some 25,000 people.

NSL estimates that visits to the resort will ramp up to 100 million annually after completion of the theme parks in phase two of the development. Given that, NSL estimates the investment capital to be recouped within a record-time of 48 to 54 months with a ROI of 20% annually afterwards.

An oversimplified cash flow table in the concept plan shows profit before tax of $1 billion annually, accumulated to $4 billion at the end of the sixth year. NSL says the goal is for Grand Americana Kansas City Inc. to pay back all partners before end of year six. During the first 10 years after achieving full payback, GAKC would pay dividends/share profits at the rate of 60% of the total net profits to the owners of Grand Americana Malls & Resorts Corporation and 15% to NSL Holdings, with 25% to be used for reserves, additional investments, maintenance, etc. After that, NSL and GAMARC owners would receive 37.5% each.

The choice for developing the Grand Americana Resort Estate in Kansas City was made after an RFP was sent out in October 2003 to hundreds of city councils and economic development corporations and organizations. Earlier this month, NSL executed an LOI with the Economic Development Corporation of Kansas City. The LOI describes NSL’s plans to build, develop and operate the Grand Americana Resort Estate Project and the ECD’s and city’s abilities to facilitate, support, and guide NSL in all its efforts to realize the project, which includes as yet undisclosed tax abatements and financial incentives.

GlobeSt.com has confirmed the facts of this story with the EDC of Kansas City and has interviewed Mr. Lachman for a follow-up story.

[noelamador]

hmmm...sounds like a REALLY late April Fools Day joke. Missery?? oh, I mean Missouri

[gc]

Sounds awesome...too awesome actually. Would be cool to see it happen...but doubtful.

Perhaps, the same folks that duped us (at least me) with the original Victory plans have gone to Missouri.

[Foucault]

Sounds stupid to me. Even if it does follow through, who would go? To stay in a $12500/night hotel so you can shop at the 'world's largest mall'??? Please!

[crescentboi]

I'm agreeing with Foucault. There are not enough wealthy people in the world to be able to fill up a hotel of that size, with that high of room rates all year, or even half fill it part of the year! That's ridiculous. $12,500 a night is more than the most expensive hotel suite in New York City, the most expensive in NYC are $12k and there's only two of those (The Palace Hotel and Peninsula according to Leading Hotels of the World).

I'm sorry this just trips me out to no end!

[sterling]

There's plenty of time for this deal to go belly up, so fire off those emails telling those British Columbians that they have made a terrible mistake. This deal should have gone to Dallas for sure. The brag quotient of this project has "Big D" written all over it. It says they send proposals to lots of cities. I wonder if anyone even opened their query at City Hall. Wouldn't be the first time someone was caught "asleep on their watch". And can't imagine Saudi sheiks and other big spenders going out of their way to spend some quality time in Kansas City.

[gc]

This deal should have gone to Dallas for sure. The brag quotient of this project has "Big D" written all over it.

So Sterling, what are you trying to say?

[sterling]

It's flashy, larger than life AND includes the "world's tallest building" AND a mall. It seems like a great substitute for the disappointment of the Perots, OR a great way to get someone else to pay for developing the Trinty River, OR a way for Dallas to have several of the "world's largest" somethings... And $3.5 billion of somebody else's money has lots of appeal in these troubling times as Dallas struggles to keep it's head high. Sounds like a lot of bang for the buck with very little risk for conservative Dallas wallets. I think "Big Tex" would love it. Quasi-Disney... What I can't figure out is where they found 1,000 acres of useless swampland in Kansas City to build on. ;)

[drumguy8800]

Ah, quit bashin' the project. It's almost as hilarious as the Majahajsjeifjflasarashi Global Development Buidling (whatever it was) planned for the Colony. If this was proposed in Dallas, we'd be all over it, like we were the Colony building. We'd all be laughing, but we'd probably be saying "all I can see getting built is the tower.." and getting excited over the project instead of completely disregarding the project. However weird it is.

Dallas needs another theme park. Six Flags is too crowded. And with the advent of 4 million more people.. yeah. new park.

[Foucault]

So what happened to this?

[pariah]

but...its in kansas city

[freewaytincan]

Oh, not this thing again. This "proposal" has been around for years.

[Columbus Civil]

Forgive my Texas arrogance, but is Kansas City barbeque really that great?

[freewaytincan]

Forgive my Texas arrogance, but is Kansas City barbeque really that great?

It's pretty darn good, but I still maintain that Texas BBQ is the only real BBQ. Speaking of, if you guys are ever in Huntsville, do stop by the First Church of BBQ (also known as Zion). It's amazing. World's best.

[tamtagon]

Is this the development which most recently began targeting the Golden Crescent along the Texas coast?

Low Country bbq, that's my favorite.

[rantanamo]

There are really 2 BBQs in Texas. East and West. East Texas BBQ is southern pork bbq; the real stuff created by slaves cooked in a pitt. This is the southern bbq that migrated to places like KC. Like West Texas BBQ, East Texas BBQ is more of a rub BBQ than a sauce, but it still uses sauce. KC BBQ is basically East Texas BBQ with more emphasis on sauce, and more emphasis on honey based sauces. West Texas BBQ is a slow grilled beef rub BBQ.

[snooch]

Mmmmmmmm...nothing like a little urban discussion to get your mouth watering.

[Wineguy2000]

Why Gulf Coast, Texas?

NSL's first choice to locate the Grand Americana Resort Estate was Kansas City, Missouri. That choice was made because of the city's central location in the United States. The management decided, however, to give preference and priority to a location with year-round sunny weather and considerably bigger tourist numbers over Kansas' central location.

With an economy of National Purchasing Power Parity at $10.45 trillion the United States ranks as the world’s largest consumer market. The Gulf Coast is considered one of the most beautiful regions in the USA. The region itself has a population over 5 million, while it is the second-most popular region for Texans as well as Non-Texans for business and leisure travel. From the Louisiana border down to Brownsville, located on the Mexico/Texas border, the Gulf Coast stretches 367 miles on the Gulf of Mexico as the crow flies. When you take into account the near-endless bays, bayous, islands, and other natural irregularities where land and water meet, the actual Texas shoreline spans more than 2,100 miles, with a truly remarkable diversity of natural areas and with an average of 320 days of sunshine.

The Gulf Coast, Texas region enjoy the same beautiful weather as Orlando, Florida while it is more easily accessible by a larger number of people, whether by car or airplane. As the numbers below proof, tourism is one of the major economic drivers in the Gulf Coast region. The year-round sub-tropical weather attracts more than 78-million person-day visits per annum to the Gulf Coast region. During 2002, more than $10,000,000,000 ($10 billion) tourism dollars were spent in the Texas Gulf Coast region.

The choice for developing the Grand Americana Resort Estate in the Gulf Coast region, Texas, was made after careful research and analyses by NSL officers and staff on basis of the many existing and future growth opportunities, economic and tourism wise.


There is a population base of almost 3 million within a 100-mile radius and a population of 60 million at a day driving distance.
A population of approximately 5 million on the Gulf Coast of Texas and a population of more than 200,000 in a 30-minute driving distance.
On the route from Corpus Christi to Houston or Galveston.
The Gulf Coast region attracts tourists (Texan and Non-Texan) who spent almost 80million days, combined, in 2002.
Subtropical weather, white beaches, and perfect water conditions for surfing and all kinds of water sports.




from www.impersonate.com the company's website

[drumguy8800]

NSL's first choice to locate the Grand Americana Resort Estate was Kansas City, Missouri. That choice was made because of the city's central location in the United States.

That has got to be the single stupidest thing.. that I have EVER.. EVER.. heard.

[Wineguy2000]

That was from their website not me by the way. I sure the beautiful gulf coast between Houston and Corpus Christi will be a much better location. That is one of the most scenic beaches in the world. Were else can you get free smack needles, take an oil bath and view off-shore rigs.