Part 2 of 2 … new strategic planning process for Downtown Kansas City; Click here to read (or review) Part 1
Both DTC leaders said they drew inspiration for the strategic plan from Spencer Levy, senior economic advisor for CBRE, the largest commercial real estate company on the planet, when he addressed the Downtown Office Summit audience in September.
“Great cities in America weren’t always great,” Levy said. “They did something to help themselves turn the corner.”
Levy focused his remarks focus on “somethings” that KC leaders can consider as Kansas City strives to elevate its game into the future, including:
- You will never be successful being the cost-effective alternative. That strategy is a race to the bottom.
- There are two scarce commodities in the investing world: (a) Large, high-yield investments, i.e., stock, bonds and commercial real estate; and (b) Talent.
- Kansas City is one of the highest yielding markets in the U.S. at 7.5% for a 10-year annual income return for all property types.
- KC had the 6th highest growth percentage for tech talent labor over the last five years among the largest tech markets in the U.S., according to CBRE, July 2019
- Three things matter most in every market on the planet: For small markets, like Kansas City, these three elements will allow you to thrive in a slowing growth world.
- Infrastructure; Talent; and Foreign investment.
“Our goal is to create a framework for confidence and certainty for future investment by setting the direction and priorities for the next decade,” Dietrich said. The luncheon on Jan. 30 marked the beginning of the community engagement component of the planning process.
“It’s not often you have the opportunity to listen to nearly a thousand of your community’s best and brightest together in one room,” Dietrich said.
The DTC used the luncheon forum to reveal its new consulting partner in the planning process, MIG Consulting, headquartered in Denver, and local partners Parson + Associates, Confluence and Cityfi.
“After an exhaustive search beginning with more than 25 national consulting firms to facilitate our efforts in charting this future course, we have selected one of the nation’s highest regarded consulting groups,” Dietrich said.
“The MIG team possesses the broad set of skills we need to ensure our strategic plan will be pragmatically grounded in the Kansas City context, dynamic and aspirations to current and future civic leaders.
MIG has developed a wealth of experience, having successfully conducted strategic planning efforts in downtown Denver, Colorado Springs, Dallas, San Antonio, Charlotte, Los Angeles and San Francisco to mention only a few.
“This is our collective opportunity to chart a course for Kansas City to become a more successful urban place and city,” Piece advised, “while maintaining our authenticity and affordability and developing specific strategies to promote economic inclusion, like free transit for all.”
Click here – Part 1 … new strategic planning process for Downtown Kansas City.
The Downtown Council website is your source for learning more about the Downtown KC 2030 planning process. Click here to learn more.