What’s coming in 2018: Business/Development Projects
In an earlier post, we looked at some of the major attractions and events coming to Wichita, Kansas in 2018. In today’s post, we will look at some of the major commercial real estate development projects which will be completed or will get underway in 2018.
West Bank of the Arkansas River
In the past couple of years, at least $137.5 million in projects have been announced for the Delano area along the Arkansas River. As larger developments continue to expand closer to the edges of the city, such as the areas surrounding Greenwich Place and New Market Square, the Wichita City Council is looking to revitalize the core.
Lawrence-Dumont Stadium and various Delano improvements
The city council approved the designation of $29.5 million towards the renovation of Lawrence-Dumont Stadium and the revitalization of the surrounding Delano area. The plans include renovating the stadium to be a combination baseball park and soccer field. The council hopes these changes will enable the stadium to host more concerts and festivals as well, allowing it to be of more use year-round. The rest of the budget is set aside for improvements to the area such as the creation of a greenway walking and bike path around Delano businesses. Another portion of the budget will go to improve parking in the district.
EPC Real Estate Delano Site
EPC Real Estate LLC, out of Kansas City, is finalizing its plans for $40 million in development in the Delano District. The projects, set to be along McLean between Douglas and Second Street, will include a mixed-use development with 200 apartment units and 5,000 square feet of commercial space and an 85 to 100 room hotel. The hotel will carry one of the Marriott flags, but a decision has not been made as to which one. The company does not expect construction to begin until the fourth quarter of 2018. In December City Hall approved a publicly subsidized plan to build 180 downtown apartments adjacent to the Advanced Learning Library in a project labeled critical to development of a new baseball stadium and revitalization of the Delano area.
Advanced Learning Library
The construction at 345 N. Sycamore is the city’s new Advanced Learning Library, estimated to cost about $33 million. The new building is to replace the central library in front of Century II, which is more than 50 years old. Unlike the old location, the new library will have the ability to integrate modern technology – which will allow for exciting new learning opportunities and easier organization. The project is expected to be completed in spring 2018.
River Vista Apartments
The River Vista Apartments at 199 McLean Blvd., right next to the river by First Street, are expected to be completed in March next year. The new multifamily development will boast river views, an amphitheater, and a boat dock. The 204-unit project will neighbor established riverfront properties such as the Drury Plaza Hotel to the east and the Exploration Place to the north.
Cargill World Headquarters & Biodiesel Plant
Cargill made two major announcements in 2017: the world headquarters for Cargill Protein will bring a $60 million project to Downtown Wichita, Kansas. Located at 825 E. Douglas, the headquarters will have room for up to 900 workers. The company also announced plans to build a $90 million biodiesel plant that will begin operations in 2019.
Spirit Aerosystems Company Expansion
In an effort to ramp up production to meet commercial and defense demand Spirit Aerosystems announced a major jobs initiative which will add 1,000 new workers and a more than $1 billion investment over the next five years. Officials claim that in addtion to direct hiring at Spirit, the increase is expected to mean as many as 3,000 new jobs in the local supply chain.
Spaghetti Works Redevelopment
The vacant Spaghetti Works building in Downtown Wichita, Kansas is the site of a $23 million redevelopment project that will have office, retail and residential components. In January, the Martin Pringle Law Firm announced that it would be anchoring the office portion of the project. Along with the Cargill Protein headquarters and the Union Station development, this project will help transform Douglas Avenue.
Construction is underway on a more than $25 million project near Douglas and Hillside. The project will include 188 high-end apartments in three floors plus 18,000 feet of office and retail space on East Douglas and Rutan. NAI Martens was named the exclusive listing agent for the office and retail portions of the project, click here for more information.