Molzer Development Newsletter #4

Ahoy and welcome to another edition of Molzer Development Newsletter!

This one will be a little all over the place as I touch on updates with The Aladdin, how getting ahead is so important, and updates on my life over the last month!

Let’s start with the Aladdin. It has been quite the journey thus far, reflected in the meme below:

As you should know by now, my partners and I closed on a 99-year-old historic hotel in downtown Kansas City with plans to redevelop it into apartments. We closed on the building at the end of May and things have been FULL FORCE since then. 

We are finalizing our mechanical engineering plans, architecture, and design, meeting with subcontractors, our general contractor, and code consultants, working alongside the city to ensure the project's feasibility, etc. 

Things have been wild and busy, and that is a good thing. Sitting back and writing this, it is crazy how much our whole team has accomplished in such a short (in theory!) amount of time. 

The ONLY reason we were able to move along so fast was because we have a killer architect at our side. If it wasn’t for Jeff, I’m positive we wouldn’t be this far along. That speaks volumes when you are doing any development project; your right-hand man/woman is going to be your architect up until you start full-blown construction. Choosing the right one that has the experience, expertise, gray hair, is likable, and has deep passion is so important. You must have someone that has done similar projects, that you trust completely, that your future LENDER trusts and that can get the project to the finish line. 

Take a look at what Jeff (our architect) did in his free time:

A part of our architect team is also design, and the work they put in goes completely unnoticed until you get those pretty renderings. Kali & Erin have been unbelievable working with the vibe that we want to create, embracing the historic nature of the building and leaning into those characteristics. 

Here is a first sneak peek of what the lobby at The Aladdin will look like:

I promise there will be PLENTY more renderings to come…

Obviously there is a long way to go. We are working through our various lender options, and historic tax credit approvals, working with the city on much-needed items, and honing in the budget to ensure everything is moving towards the common goal of getting construction started. I promise there will be plenty of more renderings to come!

I’m excited for this coming month as I get to head to Atlanta for the CREi Summit & connect with my internet friends and take a deep dive into growing my brand & firm from some absolute WHALES in the industry. My next newsletter will be all the takeaways from that event, and will probably be a little longer than normal so bear with me!

I can’t tell you how much sleep I have lost over the last 3 months, not out of fear, but genuine excitement for what is to come. 

People constantly ask me what the hardest part of this whole process has been and it is a tricky question. Obviously, there have been some hiccups (all have been remediated as of now) and challenges but that happens with everything. Without the support from all my partners, project team, etc. things would be a hell of a lot more stressful. 

The hardest part is just jumping out and doing it. That’s the scary part. Where I am now? Sure it’s a little spooky, but nothing the team I put together can’t do. 

Do I get to play as much golf as I used to? Absolutely not. 

Does my phone ever stop ringing? Not a chance. 

Should I change my name to Aladdin? Probably!

Whether you are doing a $100,000 development or a $100,000,000 development there are going to be challenges along the way, and that is okay! 

If you don’t have haters and doubters, you are doing something wrong. 

The next few months are going to continue to stay busy as we gear up for construction to start following approvals, and will take the whole village to get there. 

I’ll leave you with this; taking on a project like this is not supposed to be easy. It also shouldn’t be this “fun”; it is because of who I chose to surround myself with, work alongside, and the countless individuals who trust me. 

Like always, if you have any questions regarding Kansas City, development, or have any interest in working together on a future project either as an investor or partner, don’t hesitate to reach out! 

That’s a wrap for this edition of Molzer Development Newsletter.

Godspeed!