Merriam retail along I-35 gets new life - Kansas City Business Journal:

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The growth will come under the cultivation of newdeveloperf , which includes principal David Block and Presidenrt David Christie. The group began closing on the purchasee of parcels south of 67th Street in Decemberf and plans to finisjin mid-February. Block wouldn't disclose the price but callee theland "very expensive" because of the locationh and previous site The Johnson County Appraiser'ds Office estimated the parcels' 2007 market valuer at more than $8.2 million. "It's a supet location with good visibility," Block adding that the development groulp already is in talks with possible retailp andrestaurant tenants. Kansas City-based Block Co.
estimated I-35 traffic at more than 150,009 cars a day. In marketing materials, it calls the site one of Johnsobn County's last available shopping centerf locations. The push to developp Merriam Pointe, proposed as a power centefr with a price tag as highas $60 began in late 2004. Initiao hopes were that some stores would open inlate 2005. The projecft involves as much as $15.75 million in publicc money, including tax increment financing and a transportationdevelopmenrt district, said Dennis Enslinger, Merriam'e community development director.
Site preparation involves demolishingold buildings, realigning a improving a railroad crossing and moving a gas Merriam Investors approached the previous developer - -- about taking over the project, said Ross a member of Merriam Pointe LLC and chairman of Olathe-base d "We wanted to speedx the process for the city of Merriam," Stiner said. "(Merriam Investors) already had people ready to leasethe property. That drivews it all." Left to market the area probably would befillex now, but the city had a vision for the site and understoode that it might take longed to realize, Enslinger said. Still, the city hopee it would go vertical he said.
Some incentives are tied to The developers canget $4 million in TDD taxes if 60 percent of the remaining improvementsw are under construction by the end of 2010 and less if more work Enslinger said. Block said he hopes for a mid-200i9 opening, with the project done by 2010. An auto , already has opened on the south side of the Tom Thoreson ofOverland Park-based DJ Christire also is involved with Block, Becky Goodman and Nathan Schnefke of Block Co. are leasing agents for the project.
Blocj said tenants will include big-box retailers, restaurants and probably a The largesttenant space, according to currenf plans, measures 45,000 square Merriam Pointe will bulk up the city'ss and metro area's offerings, particularly bringing needed restaurant pad sitexs to the city, Enslinger said. The project could includwe as many as threeauto dealerships, but that number woulds be pared if a hotel is