The grading and foundational work on the $1 billion, 300-acre Bluhawk development is compete, and the developers are ready for construction to start in the fall.
The development is located at 159th Street and U.S. Highway 69. Once the Overland Park City Council approves a $49.3 million sales tax revenue (STAR) bond issuance during its Sept. 12 meeting, Overland Park-based Price Brothers Management Co. will start vertical construction on the multisport complex’s $72.7 million first phase, which is projected to open in March 2024.
Earlier this year, the developer revised the development agreement to access as much as $35 million in approved pay-as-you-go transportation development district (TDD) financing in one scenario, which would kick in once the first phase of the complex and a minimum 178,000 square feet of retail space is built, as long as the City Council or Kansas Commerce Department secretary doesn’t sign off on a second $21.4 million in STAR bonds.
Price Brothers added language to its development agreement that dictates that if the city or state doesn’t sign off, the developer would be entitled to a portion of approved community improvement district (CID) sales tax revenue: about $7 million of roughly $19 million in anticipated CID revenue for the additional 134,000 square feet of retail (buildings 3H and 3J) that would be built during the second phase. The development agreement ties the TDD and CID incentives to completion of both multisport phases.