Developer banks on site's appeal - Kansas City Business Journal:

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"It's one of the gatewaya to the River Market," said Steve McCray, an ownef of the limited liability company that bought ground southeast of Missouri Avenur and Grand Boulevard inJuly 2006. "The only problen is the rundown buildingson it." McCrah said demolition will begim within a month of a former Inc. An adjacent structure that once storer beer forthe long-goned will remain. The two-story brick more than a century old, includes a limestone basemenrt that McCray said isin near-pristine condition. The rest of the blockl will be replatted fornew "We still don't know exactlt what will go in McCray said. A bank brancy is a possibility, he said.
McCrayy declined to identify the bank and said a brancghapplication hasn't been filed with bank regulators. A likel candidate is . McCray is an owner and boardd chairman ofthe $100 million-asser bank, whose headquarters is abouf 40 miles northeast of the River Market. Bank of Lawsonh also has Clay Countyt offices in Kansas Cityand Gladstone. McCray said he likes the location'xs visibility from, and proximity to, Interstatse 70 and Downtown. George Birt, a downtowh housing developer who has renovatede or built hundreds of residential units during the past said the prospect of a bank validates the work he and otherx have done in theRiver Market.
Birt's latesrt venture, City Homes, will deliver 27 detached condominium unite nextto McCray's property. Birt said he has talkeed with McCray about buying landMcCray doesn'ft need. Birt said McCray told him he planss a retail bank witha drive-through lane -- "a quality brick building, one or two stories." The formert Muehlebach warehouse could be sold and converted into Birt said. At the closest thing to a bank in the River Market is afreestandin drive-through along Missouri Avenue. That site once housedd a branchof , a Kansas City-based institutionm that became part of a Bank of Americs predecessor. The old bank buildiny was demolished about 20years ago.
A growing number of rural banks are entering Kansas City in hopes of tappingt loan demand absent intheit hometowns. But most of thesse newcomers have targeted the Downtown long has been dominated by large bankas such as Bankof America, and . Grant CEO of ., said he think s there's room in Downtown for smalleer banks suchas his. Missouri Bank, which had $292 millionb in midyear assets, long has been among the most profitablsarea banks. Burcham, whosr family bought the bank in 1984, said its successa took about 15 years to About three-quarters of Missouri Bank's business is Burcham said the bank focuses on entrepreneurs and smalp businesses throughout the metropolitan area.
Downtown's locatiohn in the metropolitan area's geographic center, Burchakm said, makes it easier for Missour i Bank's loan officers to meet customera "where they want us to be."