Mission Woods-based Karbank Real Estate Co. LLC plans to redevelop Westwood’s community park into four two- to three-story office buildings and raze the former Westwood View Elementary School to create a 3.5-acre park.

Earlier this month, the Westwood City Council approved a funding and exclusive rights agreement with Karbank Holdings LLC to redevelop the Joe D. Dennis Park site, which basically is agreeing that this conceptual plan could be what happens but could change.

The agreement states that Karbank has six months to enter a contract with the Shawnee Mission School District to acquire the Westwood View site at 2511 W. 50th St. — now occupied by Rushton Elementary students until Rushton’s main building completes construction in 2024 — demolish the old school and transfer ownership of a large majority of the property to Westwood to build a new park.

Documents filed with the city report that the school district’s state levy and capital outlay levies will not be affected.

The developer also will have six months to decide whether to buy the city-owned parcels of land, including Dennis Park, to build new offices. The park and the former Westwood Christian Church site at 5050 Rainbow Blvd. then would transfer in ownership to Karbank, which will help the city pay off its debt at the site.

Read more in the Kansas City Business Journal.