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Location: Emaline Ballroom
Event Date: 7/10/2013
Mark your calendars for July 10 - our Annual Meeting. Greater Kansas City Arts Council President &am...
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LSEDC News Release
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LEE'S SUMMIT, MO (November 14, 2011) - Citing regional and local demand for another "big box" retailer, RED Development secured approval from the Lee's Summit Planning Commission for 366,625 square feet of retail space on over 42 acres. Named Summit Place, the project will be launched in two phases. Phase one will be composed of six buildings and five pad sites constituting 261,625 square feet of building area, while Phase two will be composed of five additional buildings with 105,000 square feet of building area. Per RED, the "big box" retailer tenant has been identified. The Summit Place project is the third RED Development within this quadrant of Lee's Summit, joining the SummitWoods Crossing and Summit Fair developments, and will carry design themes and elements to unify all three retail shopping centers.
"Summit Place further solidifies the wisdom of initially utilizing Tax Increment Financing (TIF), which funded well over $25 million of infrastructure at Lee's Summit's interchanges at Pryor Road, Chipman Road and Blue Parkway," said Daren Fristoe, Planning Commission Chairman and Lee's Summit EDC Chairman. "Summit Place will generate net new assessed valuation for the school district, as well as the city. This new development will also net new retail sales tax dollars for the city to fund public services."
"We're excited about this," said Dave Claflin, Vice President Marketing for RED Development. "The success the City and RED have had with SummitWoods Crossing, and now Summit Fair, has kept retailer interest high in locating in Lee's Summit."
"Despite these volatile times in the metro area, Lee's Summit continues to be a sought after destination by quality developers for new investment," added Jim Devine, Lee's Summit EDC President and CEO.
About RED Development
RED Development, LLC, formed in 1995, develops, leases, manages, owns, and advises on shopping centers throughout the United States. The company, with co-headquarters in Kansas City, Mo. and Phoenix, Ariz., has experience developing and consulting on a wide variety of commercial retail projects, including open-air regional shopping centers, better known as lifestyle centers, neighborhood grocery-anchored stores, regional power centers, mall re-development and mixed-use projects. With mixed-use development opportunities, RED maximizes projects by combining retail with residential, office and/or hotels. RED also partners with home builders to provide convenient retail and dining destinations within master-planned communities. RED has 39 projects open, under construction or in development, totaling more than 22 million square feet. To learn more about how RED is "REDefining" retail and entertainment development, visit www.reddevelopment.com.
About LSEDC
LSEDC, a public-private sector partnership, is the city's designated marketing and product development arm to retain and attract business. LSEDC is devoted to improving the economic well-being of residents and businesses in Lee's Summit. For more information, visit www.leessummit.org.
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