News Flash

Economic Development

Posted on: March 6, 2017

Recent Examples of Unique Redevelopment Projects

Kemper Arena

  • $25-30 million redevelopment as a multi-level, multipurpose venue for sports training and event purposes
  • The developer, Foutch Brothers, plan to convert the space into a two-story venue housing a youth and amateur sports complex
  • Kemper Arena, which will be renamed Mosaic Arena, will host an indoor track and basketball courts that are convertible for uses such as gymnastics, wrestling and volleyball competitions
  • This passed at the Planned Industrial Expansion Authority (PIEA) in February
  • Kansas City Council sold the venue to the developer for one dollar
  • Redevelopment is expected to begin in April 2017 with 40% of the arena is already preleased as of March 2017
  • Abatement: 10 years at 100%, following 2 years at 50%

Mark Twain

  • $60 million conversion from office to mixed use located at the northwest corner of 11th Street and Baltimore
  • The space will include 154 apartment units, 9,630 square feet commercial space, 12,674 square feet of event space
  • Residential amenities include a pool, indoor running track, yoga room, rooftop terrace with dog park, community kitchen and lounge, wine room, and golf simulator
  • Hudson Holdings, the developer, acquired the property in November 2015 and plans to complete the project by December 2018
  • Abatement: 10 years at 100%

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