Cerner proposing $4.3 billion development in KC
October 11, 2013
(KANSAS CITY, Mo., AP) — Cerner Corp. is proposing a $4.3 billion office complex that company officials say could bring up to 15,000 jobs to south Kansas City when it is completed in 10 years.
The city’s Planning, Zoning & Economic Development Committee on Wednesday approved the company’s request for tax incentives for the Three Trails Crossing development, which would be the largest office complex in Kansas City history. The City Council voted 10-1 to approve the incentives Thursday, The Kansas City Star reported.
The health care technology company said the complex would be built in 14 phases at the site of the former Bannister Mall.
“We are trying to raise the bar in this part of the city and provide the city with a jewel,” Brian Irwin, Cerner director of properties, told the planning committee.
If all goes as planned, the complex is expected is expected to be completed by 2024. It would include 11 office buildings, a daycare center, two data centers, a service center and 370,000 square feet of retail.
Under the redevelopment plan, 38 percent of the cost of the project would be reimbursed by future tax revenues, with the total amount of incentives at $1.63 billion.
Local and state governments would receive $446 million in payments in lieu of taxes over the 23-year life of the plan, The Star reported. And the project would provide an additional $6 million for the Hickman Mills School District and $2 million to support redevelopment in the surrounding neighborhood.
“Cerner has proven over and over again it’s a good corporate citizen, and I’m pleased it’s moving forward,” said Kansas City Councilman John Sharp.
Cerner plans to close on its acquisition of the 251-acre site by the end of the year, with the first office building construction beginning next year.
The health care technology company said the complex would be built in 14 phases at the site of the former Bannister Mall.
“We are trying to raise the bar in this part of the city and provide the city with a jewel,” Brian Irwin, Cerner director of properties, told the planning committee.
If all goes as planned, the complex is expected is expected to be completed by 2024. It would include 11 office buildings, a daycare center, two data centers, a service center and 370,000 square feet of retail.
Under the redevelopment plan, 38 percent of the cost of the project would be reimbursed by future tax revenues, with the total amount of incentives at $1.63 billion.
Local and state governments would receive $446 million in payments in lieu of taxes over the 23-year life of the plan, The Star reported. And the project would provide an additional $6 million for the Hickman Mills School District and $2 million to support redevelopment in the surrounding neighborhood.
“Cerner has proven over and over again it’s a good corporate citizen, and I’m pleased it’s moving forward,” said Kansas City Councilman John Sharp.
Cerner plans to close on its acquisition of the 251-acre site by the end of the year, with the first office building construction beginning next year.
