KANSAS CITY, Mo. — On one of the hottest days of the year in mid-July, Michael Knight, a real estate developer, made note of the torn-up street outside Commerce Tower, which opened in 1965 as this region’s first structure with a glass curtain wall.
Workers were preparing the road for Kansas City’s $100 million streetcar starter line, which will begin running in 2015. It will include a stop right outside the 30-story office building, and the streetcar is one reason among many that the Commerce Tower Group, of which Mr. Knight is a partner, acquired the property just 70 days after he walked through it for the first time a year ago.
In October, the company plans to begin converting the 500,000-square-foot tower into a $90 million vertical city of residential and office space, and retailing and restaurants. The renovation will also include a Park University satellite location, which already operates in the building, and an early childhood school, among other amenities like a fitness center and a rooftop gathering spot.