Over $1 billion in development?!?!

QueSi2Opie · Post by **QueSi2Opie** » Mon Dec 15, 2003 2:38 pm

If H&R Block/Cordish decide to locate in/revitalize the South Loop, the KC area could see over $1 billion in development all at once!!! Wouldn't that be amazing?

Three projects throughout area could add $780M in development

The Business Journal
Staff Reports

Three projects planned for the Kansas City area encompass three-quarters of a billion dollars in development.

Led by a $491 million mixed-use proposal in Edwardsville, these projects will add significantly to the retail, office, industrial and housing options available in the metropolitan area.

In Leawood, the $225 million Park Place development will add that city's first hotel as well as a Country Club Plaza-modeled New Urbanism development near the already popular Town Center Plaza.

In Platte County, the $65 million Tuileries Plaza is scheduled to open in the spring of 2004 on the southwest corner of North Cosby Avenue and Northwest 64th Street.

Edwardsville's 650-acre project at the intersection of Interstates 70 and 435 would be the largest in the city's history. Although preliminary, city officials said Dec. 10 that they are committed to the project.

Anchor tenants have not yet been signed because the city is waiting for approval of sales tax and revenue (STAR) bonds that would funnel sales taxes generated by the development to offset infrastructure costs.

The project is proposed to complement the success of the nearby Kansas Speedway and Village West tourism district. Plans include an 8,500-seat arena and an indoor athletic facility. Also planned are 800,000 square feet of retail and entertainment space, including four hotels and a golf course surrounded by 400 house lots.

Sales are projected to reach $150 million when the project is complete, generating $10 million to $12 million a year in new sales taxes for Edwardsville.

"I'm excited but also a little nervous and overwhelmed," Edwardsville Mayor Stephanie Eickhoff said in a June interview.

In Leawood, construction of the first phase of the Park Place development will begin in the fall, said Jeff Alpert, co-developer of the project. Its opening is scheduled for the fall of 2005. Park Place is situated east of Nall Avenue along Town Center Drive.

About eight of the project's 34 acres will be reserved for green space. Instead of having large parking lots in front of stores, street parking will be built into the streetscape, Alpert said. Housing and office space also will be built into the development.

The first of three planned residential buildings at Park Place will contain about 50 units, which will sell for $225 to $250 a square foot. That's comparable to prices for condos being built on the Country Club Plaza. Platte County also wants to build on successful development in the area, such as The National Golf Club and increasing residential development.

The 35-acre Tuileries Plaza development is to contain about 225,000 square feet of stores and 40,000 square feet of offices. Mike Burke, a lawyer at King Hershey in Kansas City, is representing the project's developer, Prairieview Development LLC. Plans are for a pedestrian-friendly design similar to the Prairie Village Shops' open-air setting. Unlike BarryWoods Crossing at Interstate 29 and Barry Road, which contains big-box retailers, Tuileries' tenants will include restaurants, banks, a pharmacy and grocery store. This development also won't compete with Zona Rosa, another Plaza-like shopping and living area in the Northland.

The project is being built to support the nearly 7,000 people living within a mile of the development. Household income in 2001 was $62,941. No public incentives will be sought for the project, developers said.

KCK · Post by **KCK** » Mon Dec 15, 2003 4:14 pm

Whats good for Edwardsville, is good for Wyandotte County, and therefore is good for KCK. Hopefully this, and the Legends and Reds things out at Village West, not to mention the huge housing development in Piper will give this area a much less rural look, and bump it up to suburban.

My real question is what the 8500 seat arena is going to be used for.

Post by **dangerboy** » Mon Dec 15, 2003 7:15 pm

QueSi2Opie wrote:If H&R Block/Cordish decide to locate in/revitalize the South Loop, the KC area could see over $1 billion in development all at once!!! Wouldn't that be amazing?

Plus another $1.5B already committted to the greater downtown area, not counting H&R Block or other proposed projects.

GRID · Post by **GRID** » Mon Dec 15, 2003 7:29 pm

dangerboy wrote:
QueSi2Opie wrote:If H&R Block/Cordish decide to locate in/revitalize the South Loop, the KC area could see over $1 billion in development all at once!!! Wouldn't that be amazing?
Plus another $1.5B already committted to the greater downtown area, not counting H&R Block or other proposed projects.

That's what I was thinking. If the H&R Block thing goes, there could be close to 2.5 billion or more in the Downtown area alone, now that’s impressive.

But if you look at the metro, there is too much to keep track of. The new hospital in Independence and the just announced development in southern BS alone is close to a billion bucks.

I’ll believe the Edwardsville thing when I see it.

KCPowercat · Post by **KCPowercat** » Mon Dec 15, 2003 7:35 pm

GRID wrote:But if you look at the metro, there is too much to keep track of.

Tell me about it

FangKC · Post by **FangKC** » Tue Dec 16, 2003 1:53 am

DeadManWalking wrote:My real question is what the 8500 seat arena is going to be used for.

Hog-calling contests and buffalo chip-tossing (or cow-pies).

nota · Post by **nota** » Tue Dec 16, 2003 7:47 am

QueSi2Opie wrote:
>
In Platte County, the $65 million Tuileries Plaza is scheduled to open in the spring of 2004 on the southwest corner of North Cosby Avenue and Northwest 64th Street.

>

The 35-acre Tuileries Plaza development is to contain about 225,000 square feet of stores and 40,000 square feet of offices. Mike Burke, a lawyer at King Hershey in Kansas City, is representing the project's developer, Prairieview Development LLC. Plans are for a pedestrian-friendly design similar to the Prairie Village Shops' open-air setting. Unlike BarryWoods Crossing at Interstate 29 and Barry Road, which contains big-box retailers, Tuileries' tenants will include restaurants, banks, a pharmacy and grocery store. This development also won't compete with Zona Rosa, another Plaza-like shopping and living area in the Northland.

The project is being built to support the nearly 7,000 people living within a mile of the development. Household income in 2001 was $62,941. No public incentives will be sought for the project, developers said.

If this opens in "Spring of 2004"-I'll eat your hat. This is less than a mile from my home. I drive by everyday. They are still doing site prep as they have been doing for months.

Everyone up here wonders what is going on.

BTW-This article says the project is $35 mil. How did they add another $30 mil?

KCK · Post by **KCK** » Tue Dec 16, 2003 10:29 am

FangKC wrote:
DeadManWalking wrote:My real question is what the 8500 seat arena is going to be used for.
Hog-calling contests and buffalo chip-tossing (or cow-pies).

Or maybe a hay rolling contest, or cock fights. Hell they could create a wNBA stadium......lol

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