The planned South Loop Link is poised to create substantial financial benefits for downtown Kansas City, some of which will help sustain the four-block park after it opens.
That’s the takeaway from an economic impact study of the 5.5-acre park atop Interstate 670 by Utah-based Victus Advisors.
Summaries from the study were included in the city’s recent application to the Missouri Development Finance Board for $15 million in contribution tax credits. The Downtown Council of Kansas City commissioned the study.
Victus found that the South Loop Link’s construction and operations would lead to $335.7 million in total economic output for Kansas City, and $379.1 million statewide, from direct, indirect and induced spending by 506,000 annual park visitors during the next 30 years.
“The South Loop Project will benefit all citizens of Western Missouri, including its disadvantaged population,” Victus wrote in its study.
“(It) makes possible the conversion of the negative environmental impacts of the 1950s freeway into an asset for both Missouri’s citizens and visitors to downtown Kansas City.”