news 4 days ago

$182 million development project on tap in Overland Park

The Kansas City Star — Steve Vockrodt The Kansas City Star

July 17--Two developers have their eyes set on several undeveloped acres at the northwest corner of 115th Street and Nall Avenue for a large mixed-used development project.

Kansas City firm Block Real Estate Services and The Retail Connection formed a joint venture for a project that would consist of 548 apartment units and up to 230,000 square feet of retail, entertainment, grocery, restaurant and office space.

The land, owned by Sprint, is under contract to sell to the two developers.

The project goes Wednesday night before the Overland Park Finance, Administration & Economic Development Committee, which will consider whether to recommend an issuance of $52 million in economic development revenue bonds and a community improvement district to assist with financing. The full Overland Park City Council would make the final decision after a public hearing, tentatively scheduled for Sept. 8.

The community improvement district would add an additional 1 percent sales tax on purchases made at the development and would help pay for improvements, including a parking garage.

The project is near the Overland Park Convention Center; the developers are discussing a pedestrian connection between the proposed project and the convention facilities to serve conventioneers.

Retail tenants were not disclosed, although planning documents suggested it would involve large, national name-brand chains.

The project is estimated for completion in 2020.

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