OK, here's the latest on the status of Westbrooke Village Shopping Center http://www.bizjournals.com/kansascity/news/2016/12/21/mission-peak-capital-johnson-county-shopping.html
Apparently it did not sell at auction the other day. I'll take a guess and say that the owner wasn't seeing the price they wanted so they may have been the ones to "buy it".
Anyway, Mission Peak Capital is headquartered in KCMO and does business nationwide. Here is a link to their web site http://www.missionpeakcapital.com/
Wednesday, December 21, 2016
Friday, December 16, 2016
We Don't Want To Spend $1.5 Million
Happy that Westbrooke Village Shopping Center sold two days ago at auction. Will be interesting to see who actually is buying it and what their plans are.
One of our illustrious (sarcastic) council members had a whopper of a suggestion a few weeks ago. Apparently a developer wanted to build apartments on the location, but only if the city kicked in $1.5 million dollars cash (not including the possibility of other incentives). Yepper, $1.5 million, and if the city (read that as us, the taxpayers) didn't do it we were showing that we were anti development and future growth.
Fortunately cooler heads prevailed and that idea never went anywhere. We won't mention the council person by name.................not yet anyway :-)
One of our illustrious (sarcastic) council members had a whopper of a suggestion a few weeks ago. Apparently a developer wanted to build apartments on the location, but only if the city kicked in $1.5 million dollars cash (not including the possibility of other incentives). Yepper, $1.5 million, and if the city (read that as us, the taxpayers) didn't do it we were showing that we were anti development and future growth.
Fortunately cooler heads prevailed and that idea never went anywhere. We won't mention the council person by name.................not yet anyway :-)
Thursday, December 15, 2016
Westbrooke Village Sold at Auction
Yesterday the Westbrooke Village Shopping Center located at 75th and Quivira was sold at auction for $4,625,000. According to city officials the appraised value of the property is $5,700,000 so it would appear that the buyer got a good deal.
At this time it is not known who the successful bidder was but closing is supposed to take place in 30 days.
Now the big question is what will the new owners do with this shopping center? Over the years various individuals have had a variety of suggestions, yours truly included. Will they keep it as a shopping center? Will they knock it down and create apartments? Hotels? Redesign and build a whole new shopping center? I am sure we will find out in due time.
Anyway, my suggestions from December 2014 can be found by clicking here. Pay particular attention to my 2nd suggestion. Is that a good idea? Is it viable? Does it appeal to the new owners?
Anyway, here is hoping that whatever the new owners decide to do works out for them AND the citizens of Shawnee. We could use a win-win situation.
At this time it is not known who the successful bidder was but closing is supposed to take place in 30 days.
Now the big question is what will the new owners do with this shopping center? Over the years various individuals have had a variety of suggestions, yours truly included. Will they keep it as a shopping center? Will they knock it down and create apartments? Hotels? Redesign and build a whole new shopping center? I am sure we will find out in due time.
Anyway, my suggestions from December 2014 can be found by clicking here. Pay particular attention to my 2nd suggestion. Is that a good idea? Is it viable? Does it appeal to the new owners?
Anyway, here is hoping that whatever the new owners decide to do works out for them AND the citizens of Shawnee. We could use a win-win situation.
Monday, December 05, 2016
Commercial Development WITHOUT Government Incentives
Wow, did ya hear it on the TV this morning? The modified plans for the redevelopment of the Metcalf South Shopping Center are going to the Overland Park City Council for approval.
Here's the kicker. The cost of this redevelopment is going to be approximately $80 million dollars and the developer is doing it all with private funds. No incentives from the City of Overland Park.
We have a council member who would probably say that because OP is not offering any incentives they are not business friendly. LOL
Let's keep this in mind when developers come to Shawnee wanting government (read that as citizen paid for) incentives.
Interesting, eh?
Here's the kicker. The cost of this redevelopment is going to be approximately $80 million dollars and the developer is doing it all with private funds. No incentives from the City of Overland Park.
We have a council member who would probably say that because OP is not offering any incentives they are not business friendly. LOL
Let's keep this in mind when developers come to Shawnee wanting government (read that as citizen paid for) incentives.
Interesting, eh?
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