Embassy Suites Project Underway in Former Federal Reserve Building
Published February 4th, 2019 at 1:15 PM
By Kevin Collison
The redevelopment of the historic Kansas City Federal Reserve building into a 301-room Embassy Suites by Hilton hotel is finally on after a decade of false starts with completion expected in May 2020.
The project, which is restoring one of downtown’s last remaining landmark buildings, has a new entity coordinating its construction and financing, FRBH (Federal Reserve Building Hilton) LP, a limited partnership formed in Virginia.
Delta Quad Holdings LLC remains the owner and developer.
The total cost of the project, including an eventual second phase that would redevelop the basement, is estimated at $154 million, according to the FRBH website.
The 21-story building opened at 925 Grand Blvd. in 1921 as the headquarters of one of the 12 regional Federal Reserve Banks established by Congress in 1913. It’s been vacant since the Kansas City Fed moved into its new offices at Penn Valley Park in 2008.
Six years ago, Delta Quad began pursuing the redevelopment of the historic building as a hotel after the original plan to convert it to condominium residences fell through.
Interior demolition is underway at the former Federal Reserve Bank building.
David Roos, a representative for FRBH, said interior demolition and environmental abatement work is well underway.
There have been other changes to the development team in addition to FRBH. The project has switched its contractor and architect. Rau Construction is now managing construction and Browning Day Mullins Dierdorf of Indianapolis is the architect.
The planned Embassy Suites by Hilton will include 12,000 square feet of ballroom and meeting space, a third-party restaurant, a complimentary dining and cocktail area for hotel guests on the mezzanine level and a rooftop venue.
The old Federal Reserve building also has an attached 450-space garage.
The new Embassy Suites is expected to open about the same time as the 800-room Loews Kansas City Convention Hotel at 17th and Wyandotte. Roos said his project will not be competing for the same guests.
“This hotel will serve a different client than the convention hotel, families,” he said in an email, adding “There will be family activities as part of Phase 2.”