OVERLAND PARK, Kan. — On Monday, the Overland Park Planning Commission voted 9-0 to approve a final development plan for a 230,000-square-foot, mixed-use building at the corner of 108th Street and Metcalf Avenue.
Metcalf 108 Redevelopment Investors intends to create a mixed-use building featuring apartments, retail and office space.
The Lenexa-based developer plans to build a seven-story building that would include 1,773 square feet of retail space on the ground floor and 9,934 square feet of office space on the second and third floors. The top four floors would be dedicated to 220 apartments, ranging from studio to two-bedroom units.
Site amenities include a fitness center, club house, a pool with multiple patio spaces and elevated courtyard on top of the second level garage.
The developer intends to seek out various tax incentives, including the use of Tax Increment Financing (TIF) to support the project. After review of the proposed project, the planning commission unanimously agreed the project fit within the city’s Comprehensive Plan and should progress to the city council for final review.
In 2017, the city established the Metcalf 108 TIF District that covers approximately 4.4 acres located at the northeast corner of I-435 and Metcalf Avenue. Following a public hearing in March, the city council voted to amend the district plan to include the development of a hotel and a mixed-use building.
Based on a feasibility study, the mixed-use project is expected to generate roughly $11.5 million in TIF revenue over a 20-year period.
The city council is expected to review the final development plan and tax incentive request next month.