Platte Purchase Plaza

Talk about the ever expanding north side of KC.
Post Reply
mgsports
Broadway Square
Broadway Square
Posts: 2537
Joined: Sat May 31, 2008 7:00 pm

Platte Purchase Plaza

Post by mgsports » Thu Jun 02, 2016 9:20 pm

http://www.mdmgt.com/media/1749/platte- ... 5-2016.pdf Updated Site Plan
Also near new Costco that will also Auto Dearlerships and Pad Sites in Twin Creeks. http://www.mdmgt.com/media/1768/twin-creeks-package.pdf but this one shows http://www.mdmgt.com/media/1799/the-vil ... ackage.pdf Retail instead Auto. Also The Market at Twin Creeks so which Grocery store would you like to see and Retail to. Also The Shops at Twin Creek.

User avatar
slimwhitman
New York Life
New York Life
Posts: 491
Joined: Fri Dec 29, 2006 11:29 am

Re: Platte Purchase Plaza

Post by slimwhitman » Tue Jun 14, 2016 11:12 am

Is no one appalled by the TIF money possibly being thrown at the nearby Costco proposal? $65M for $hitty strip retail?
http://www.bizjournals.com/kansascity/n ... quest.html
TIF sought to support Costco-anchored development in Northland
Jun 8, 2016, 1:03pm CDT

MD Management Inc. plans to seek tax increment financing to help cover $65 million worth of public infrastructure improvements needed to serve its Costco-anchored Platte Purchase development project in the Northland.
The Tax Increment Financing Commission of Kansas City's board on Wednesday voted to start the TIF process by approving a funding agreement that details costs the developer will pay the commission for services associated with the TIF plan.

MD Management plans to seek tax increment financing to cover $59 million of the estimated…
Jim Bowers, a White Goss PC attorney representing MD Management, said the developer will be seeking TIF reimbursement of $59 million for the infrastructure costs, which it will front the money. TIF allows new tax revenue generated by a project to be used to cover eligible development expenses.

The remainder of MD Management's $65 million in infrastructure costs is expected to be covered through city Public Improvements Advisory Committee funds and other public sources Bowers said.

In March, the city and MD Management announced that Costco Wholesale Corp. planned to build its first warehouse club in the Northland at the southeast corner of Missouri Highway 152 and North Platte Purchase Drive.

Bowers said dirt work for the new Costco would begin this month or next, with construction scheduled to start in August. Costco is planning to open the new location in spring of next year, he said.

Bowers said the Platte Purchase TIF area also encompasses the other three corners of M-150 and Platte Purchase Drive, where further retail uses are planned; 80 acres that MD Management has donated to the Platte County R-3 School District for two future schools; and a portion of the MD Management's planned Bittersweet Farms residential development.

The TIF area is located within the 14,000-acre portion of the Northland that Kansas City is helping to open up for development through a $43 million sewer expansion project.

"Kansas City promised our residents our investment in the Northland's water and sewer infrastructure would bring growth to this region," Second District City Councilman Dan Fowler said in March. "We are pleased to deliver on that promise with the announcement of the opening of Costco and the added economic benefits for our community and our schools."

News of the new Costco was not so good, however, for another developer.
Last year, the partnership working on redevelopment of the nearby Metro North Mall site at U.S. Highway 169 and Barry Road announced that they were attempting to land the Northland's first Costco as an anchor for that $187.5 million project.

flyingember
One Park Place
One Park Place
Posts: 6901
Joined: Tue Jul 17, 2012 7:54 am

Re: Platte Purchase Plaza

Post by flyingember » Tue Jun 14, 2016 12:06 pm

You're preaching to the choir

User avatar
grovester
Bryant Building
Bryant Building
Posts: 3746
Joined: Thu Mar 13, 2008 7:30 pm
Location: KC Metro

Re: Platte Purchase Plaza

Post by grovester » Tue Jun 14, 2016 1:17 pm

Politics. Downtown gets something, Northland wants something, East side wants something, etc.

loftguy
Bryant Building
Bryant Building
Posts: 3847
Joined: Fri Sep 16, 2005 12:12 pm

Re: Platte Purchase Plaza

Post by loftguy » Tue Jun 14, 2016 2:10 pm

grovester wrote:Politics. Downtown gets something, Northland wants something, East side wants something, etc.
This continues to be the single greatest flaw in the Kansas City experiment.

That is, the disconnect of both nearby neighborhoods and far flung suburbs from the collective benefits gained from the existence of an extraordinary downtown.

User avatar
Eon Blue
Colonnade
Colonnade
Posts: 947
Joined: Mon Jan 30, 2012 11:28 pm
Location: Downtown KCMO

Re: Platte Purchase Plaza

Post by Eon Blue » Tue Jun 14, 2016 3:01 pm

I wonder what percentage of this store's sales will be cannibalized from the Midtown Costco?

flyingember
One Park Place
One Park Place
Posts: 6901
Joined: Tue Jul 17, 2012 7:54 am

Re: Platte Purchase Plaza

Post by flyingember » Tue Jun 14, 2016 10:39 pm

Eon Blue wrote:I wonder what percentage of this store's sales will be cannibalized from the Midtown Costco?
Way less than the competition it's closer to.

It's 10 minutes from a Sam's Club.

User avatar
DaveKCMO
Global Moderator
Global Moderator
Posts: 16688
Joined: Sun Nov 27, 2005 6:22 pm
Location: Crossroads
Contact:

Re: Platte Purchase Plaza

Post by DaveKCMO » Wed Jun 15, 2016 8:24 am

I am appalled by this TIF (any any TIF in the Northland or green field).

flyingember
One Park Place
One Park Place
Posts: 6901
Joined: Tue Jul 17, 2012 7:54 am

Re: Platte Purchase Plaza

Post by flyingember » Wed Jun 15, 2016 9:07 am

It's especially bad since there's multiple rundown shopping centers within 5 minutes that would be much better places for TIF. Costco could have gone in at least one of them without trouble

User avatar
Eon Blue
Colonnade
Colonnade
Posts: 947
Joined: Mon Jan 30, 2012 11:28 pm
Location: Downtown KCMO

Re: Platte Purchase Plaza

Post by Eon Blue » Wed Jun 15, 2016 10:00 am

The City Manager said on Twitter that part of the revenue is being used by the city to improve infrastructure north of the development.

flyingember
One Park Place
One Park Place
Posts: 6901
Joined: Tue Jul 17, 2012 7:54 am

Re: Platte Purchase Plaza

Post by flyingember » Wed Jun 15, 2016 10:54 am

Eon Blue wrote:The City Manager said on Twitter that part of the revenue is being used by the city to improve infrastructure north of the development.
there is no infrastructure north of the development. it's fields and pastures

User avatar
grovester
Bryant Building
Bryant Building
Posts: 3746
Joined: Thu Mar 13, 2008 7:30 pm
Location: KC Metro

Re: Platte Purchase Plaza

Post by grovester » Wed Jun 15, 2016 11:07 am

That's probably what they mean by "improvement".

longviewmo
Colonnade
Colonnade
Posts: 880
Joined: Sat Jun 20, 2009 12:58 am
Location: Manhattan, Kansas
Contact:

Re: Platte Purchase Plaza

Post by longviewmo » Wed Jun 15, 2016 8:46 pm

Haven't you guys heard that electrified corn grows faster?

Post Reply