The Performance Center. Formally the YMCA in Topeka, KS.
MCRE, Brokers opinion/Update
For Sale today @ $2,600,000
My vision of the Performance Center is a high-end condominium
project called Capital View. Within Capital View, the Topeka Club, a more
exclusive, private fitness center/club to exploit all the amenities the
building has to offer.
My real vision is a closing where a buyer coughs up CASH of
$2.6M and we move to the next deal…… that aside……
It is no secret that introducing novel concepts in Topeka is
often met with skepticism. Yet, I draw parallels with past instances – just as
College Hill faced initial skepticism, or Mr. Klausman encountered it with
Wheatfield. Notably, in my erstwhile corporate sojourns, I recognized the
essence of forging deals in unconventional places. Today, Topeka is primed for
a project like Capital View, given the shifting paradigms of lifestyles and
priorities.
The crux of my vision lies in transcending The Performance
Center into an upscale lifestyle – a haven that transcends the ordinary, where
luxury and exclusivity converge seamlessly. Capital View, embellished by the
exclusive enclave of The Topeka Club, aims to redefine high-end living in our
community.
Capital View embodies luxury with a lavish $1,000,000 pool, innovative fitness
equipment, an indoor track, and a top-tier commercial kitchen. Advanced
security, boasting state-of-the-art cameras, and secure parking, cater to our
esteemed residents. Our facilities also would include a business center and a
versatile multimedia room, transforming from daytime presentations to evening
theater, meeting diverse needs and desires of our discerning members.
Our research department says that Mike McKeen, the developer
of Wheatfield. That Topeka needs more upscale housing. Especially in the
apartment arena. I should be able to provide some rent comps soon.
The prospect of marketing this initiative to the legislature
seems promising. Senator Rick Kloos exhibits keen interest, which we intend to
capitalize on in our forthcoming meeting. Moreover, given the accommodation
constraints faced by legislators during their sessions, this venture might
cater to their residential needs lucratively. When you consider today, Reser’s
has rented every available room at the Ramada downtown. Our elected officials
are scrambling for places to stay during the three months of their service. I
guess Reser’s is taking advantage of that open border policy and finding
workers.
Brian Falk points out. That we can add four apartment units
in there today without sprinkling the building. Tyler Wibel and I were meeting
last week with the city, talking to them about the structure and setting up a
meeting with one of the fire marshals to figure out every way we can to avoid
sprinkling that building. Based on the existing construction and the
possibility of just adding an outside entrance for everybody. I think there's a
way around this.
The imminent proposition from a dive shop operator may pose
a potential challenge, albeit one I believe can be navigated. Synchronizing
dive schedules to accommodate lap times could be a feasible solution. Moreover,
in terms of marketing strategies, I propose a paradigm shift. Instead of
circumventing Great Life, let's explore integrating their presence within the
Performance Center, aligning their offerings with our residential plans. With
an operating business the priority to the new owner a shift in price points
will be needed.
One of the best assets the Performance Center has today is
the real estate that surrounds it, and we can go vertical. If I can find the
right multifamily developer, such as the Wheatfield guy. We could go vertical
and then we could look at the 200,000-square foot building as just the
amenities. For the people that want to live in the new Apartment tower.
I'll see where the future takes us, deal by deal. Today I
want to encourage the Great Life Company to relocate Chaz. Down on the lower
side, in the northeast corner. To the women's area. So, we can have full access
to running plumbing. And making units available on the second level on the east
side. At the same time, I want to. Clean up the commercial kitchen. Just so it
is spit shined. So, it will show better and create the idea of future
opportunity.
From 10,000 feet that is the capital view the condominium
project dovetails with another project Rick has been working on out at the
Prairie View Golf course. To privatize that. I think the people that are
willing to buy a condominium downtown might be the same customer that would
like to own a part of a private golf course. But that scenario is for another
day.