A milestone worth celebrating

Happy last day of July to all our investors, subscribers, friends & supporters. It has been an eventful & extremely hot July here in Kansas City, both on the weather front & general activity within everything we are building at Molzer Development. For the first time since starting Molzer Development over 2 years ago, we are delivering projects instead of just talking about them.

Aladdin

It's hard to believe I'm finally writing this, but the first residents will officially begin moving into the Aladdin on August 10th.

For over two years, this building has consumed just about every waking hour of our lives. There have been countless meetings, late nights, unexpected challenges, and thousands of decisions that all led to this moment.

What I'm most excited about isn't that construction is wrapping up; it's what happens next.

For the last 101 years, these walls have witnessed thousands of conversations, celebrations, hardships, friendships, and stories. After sitting vacant for 6 years, the building is about to begin its next chapter.

In just a few weeks, new residents will create memories of their own. They'll celebrate birthdays, host friends, get engaged, welcome children, and experience life's biggest moments inside a building that has already lived an incredible life of its own. There's something really special about being able to preserve history while creating space for the next generation of memories.

We still have a handful of final touches to complete, but at this point they're exactly that: final touches. Seeing the finish line after everything this project has taken is a feeling that's difficult to put into words.

None of this would have been possible without an incredible team behind us. To Haren Companies, Pluribus, our partners Free Heel Capital & Cardinal Crest, lenders, investors, the City of Kansas City, the hundreds of subcontractors, consultants, and everyone else who believed in this vision long before it looked like it does today; thank you. Projects like this are never built by one person. They are built by hundreds, and we're incredibly grateful for every single one of them.

We're also beginning to plan what we hope will be an incredibly special grand opening celebration. We're targeting mid-to-late October and can't wait to open the doors to everyone who has followed this journey from day one.

I have a feeling that's going to be one of those nights I'll remember for a very long time.

Holtman

A few weeks ago, we officially completed the Holtman Building, making it the first development project Molzer Development has taken from acquisition all the way to completion.

That sentence still feels a little surreal to write.

Less than a year ago, this building was an active construction site. Today, LaborTech Solutions has officially moved into their new office, GPS-KC is moving into theirs, all eight lofts have been completed with residents beginning to move in, and Bar Phoebe has now wrapped up its first full month of operations.

When I stop and think about everything that happened between closing on the building and where it sits today, it's honestly incredible. In roughly ten months, an underutilized historic building was transformed into nearly 40,000 square feet of new apartments, office space, and hospitality space. That's an incredibly aggressive timeline for a project of this scale, and it's something our entire team should be proud of.

A huge thank you to GPS-KC, Pluribus, every subcontractor, consultant, vendor, and partner who helped bring this project across the finish line. Watching an old building get a second life is one of the most rewarding parts of this business, and I'm grateful to have worked alongside such an incredible team.

We are also super excited to announce that The Garage, our private members club, is nearing completion in the next few weeks. Applications are available via our website (https://thegaragekc.com/) & we are eager to open the doors to our members.

Bar Phoebe

If you've stopped by Bar Phoebe over the last month, thank you.

We officially opened on June 18th, and ever since then, Kansas City has absolutely shown up.

Seeing people fill the space every week, celebrate birthdays, meet friends after work, and simply enjoy a building that sat empty not too long ago has been incredibly rewarding. The response from the community has honestly exceeded our expectations, and we're just getting started.

If you haven't made it in yet, we'd love to have you. We're currently open Wednesday and Thursday from 4 PM–12 AM, Friday and Saturday from 4 PM–1:30 AM, and Sunday from 2 PM–10 PM.

Finally, a huge thank you to the entire Bar Phoebe team. Opening a bar is no small task, and the amount of work that happens behind the scenes often goes unnoticed. They've built something truly special, and we're excited to continue making Bar Phoebe one of Kansas City's favorite gathering places.

West Bottoms

One of the questions I get asked the most is, "What's happening with the Advanced Treasure Building?"

While we're still working through exactly what the long-term vision for the building will be, we're excited to officially welcome Rex KC to the first two floors.

If you're into vintage clothing, collectibles, or just appreciate businesses that bring energy and character to historic buildings, I highly recommend stopping by. It's exciting to see the building begin finding new life while we continue planning what comes next.

The West Bottoms has so much momentum right now, and we're incredibly excited to continue being part of its next chapter.

Overland Park Townhomes

Outside of our historic redevelopment work, we've also been making steady progress on our townhome community at 73rd & Antioch.

Together with our partners at Gravel Development and Cardinal Crest, we've officially submitted plans to the City of Overland Park for a 47-home community.

As anyone who's worked in development knows, submitting plans is really just the beginning. There are plenty of meetings, revisions, approvals, and public processes ahead of us, but we're excited to keep everyone updated as the project moves through each step.

One of the best parts about building in public is getting to share the journey; not just the ribbon cutting. While we are not currently seeking debt or equity partners YET, please don’t hesitate to reach out if there would be any interest in learning more before the public.

Deal Flow

People often ask how many projects we look at before deciding to pursue one.

The answer is... a lot.

Right now we're evaluating roughly ten properties or development opportunities every single month. Some are historic buildings. Some are ground-up developments. Some make it a few weeks into underwriting before we pass, while others have been quietly in the works for months.

As we've grown, one thing has become very clear: saying no is just as important as saying yes.

Our goal isn't to become the biggest developer as quickly as possible. It's to be thoughtful about where we spend our time, our capital, and our team's energy.

Ironically, building in public has only increased the number of opportunities that come our way. Property owners, brokers, investors, and partners now regularly reach out because they've followed one of our projects online. It's something I never expected when I started posting construction updates, but it's become one of the biggest competitive advantages our company has.

Looking Ahead

As exciting as this year has been, it honestly feels like we're just getting warmed up.

Over the coming months, our focus will be on stabilizing the Aladdin as residents continue moving in, growing the Molzer Development team, creating even more content around our projects, building new partnerships, and continuing to pursue bigger and more impactful developments throughout Kansas City.

The first two years were about proving we could do it. The next two are about scaling it.

None of this would be possible without the people who continue believing in what we're building.

To our investors who trust us with their capital, our subcontractors and partners who make these projects a reality, our tenants and residents who choose to call our buildings home, and everyone who has followed along online from day one: thank you.

Your support means more than you probably realize.

Our mission has always been bigger than simply renovating old buildings. It's about preserving pieces of Kansas City's history, creating places people are proud to live and gather, and hopefully leaving the city a little better than we found it.

We've got a lot more to share soon. We're just getting started. Godspeed!

—
Zach Molzer
Founder, Molzer Development