Grandview board approves $234 million Gateway Village project involving Deron Cherry

Development team includes former Kansas City Chiefs player

Project includes 14 soccer fields

Grandview Board of Aldermen approved 5-0
Deron Cherry
Deron Cherry Rich Sugg rsugg@kcstar.com
BY STEVE VOCKRODT
svockrodt@kcstar.com

Grandview leaders voted 5-0 Tuesday night to approve a $234 million project that planners expect will include 14 soccer fields, new retail and commercial development, and several hundred hotel rooms.

PG LLC, a development entity that includes former Kansas City Chiefs strong safety Deron Cherry, went before the Grandview Board of Aldermen during a regularly scheduled meeting to get approval for tax increment financing for the project.

The board’s approval after a public hearing signaled the final vote PG LLC needed from the city to proceed with their project. The developer has announced a groundbreaking on June 30.

Gateway Village, which is considered Grandview’s largest development, will be built on 200 acres, generally along Missouri 150 east of Interstate 49 between Byars and Kelley roads.

The team, which also includes Lee’s Summit developer Kurt Pycior and Heartland Soccer Association executive director Shane Hackett, wants to build the Gateway Village in four phases.

The first phase would include 14 soccer fields and 108,000 square feet of retail and residential space.

Those 14 fields would represent additional resources for the strong local demand for soccer fields. Scheels Overland Park Soccer Complex, which has 12 fields that cover 96 acres, is considered one of the top facilities of its kind in the region. The nine-field Swope Soccer Village in Swope Park has welcomed regional soccer competitions, including the Big 12 women’s soccer championships, since expanding in 2013.

A second phase in Grandview includes more retail space, an 83,000-square-foot fieldhouse and 190 hotel rooms. A third phase would build 86,000 square feet of commercial and medical space, along with 200 hotel rooms. A final phase includes more retail and hotel space.

The project’s four phases are estimated for completion by 2022.

Documents filed with Grandview City Hall say the project is worth about $234 million, $190.7 million of which comes from private financing and equity.

PG LLC seeks $43 million, or nearly 19 percent, in public sources through a combination of tax increment financing, an increased sales tax rate through the creation of a community improvement district and $4.5 million reimbursement from a portion of Grandview’s hotel tax generated within the project. TIF captures new economic activity taxes and property taxes generated by a development and refunds a developer for eligible project costs.

PG LLC’s application says taxing jurisdictions — Grandview School District, Mid-Continent Public Library, Jackson County and the city itself, among others — would receive $155 million in additional revenues between 2016 and 2042 with the construction of the project, compared to $29,046 over the same time frame assuming nothing else gets built on the 200-acre site.

Read more here: http://www.kansascity.com/news/business/development/article83748262.html#storylink=cpy

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