The Mission City Council this week approved a predevelopment agreement for the five acre parcel of land at 5665 Foxridge Drive that previously housed a JCPenney call center, paving the way for a possible senior housing project on the site.
Omaha-based Dial Retirement Communities presented its initial plans for the site, a 141-unit retirement community, earlier this month.
In a memo prepared for the council, City Administrator Laura Smith indicated that Dial would likely be seeking financial incentives.
“The developers indicate that the project presents some unique challenges and added costs which create a project financing gap,” she wrote. “As a result, the developers plan to request that the City consider certain incentives in order for the project to move forward.”
Under the agreement, Mission will list Dial as the developer of record for the site for four months, effectively preventing any other developer from actively pursuing a project on the site at that time.
