Before this year is up, it’s possible passing motorists and Overland Park residents could see the very first bit of construction begin on the roughly $2 billion Brookridge redevelopment near Antioch Road and Interstate 435.
But that will be contingent on whether developers secure the financing they need to finally move forward with the much-discussed, 200-acre development on the site of the old Brookridge golf course.
Still, officials with developer Curtin Property recently told the Overland Park City Council that they hope to break ground and start constructing the first planned building on the project by the end of 2023.
First building has a new deadline
- The mixed-use building dubbed 510 North will include 317 apartments and roughly 12,500 square feet of first-floor retail.
- It was originally set to be completed by July 31, 2025, but last week the Overland Park City Council approved pushing that deadline back to Oct. 31, 2026.
- Bob Johnson, an attorney from Polsinelli representing the developer, told council members that plans for that building have been delayed due to needed improvements to streets for the project area, which are being paid for through an $8 million grant from the Kansas Department of Transportation.
- Improvements to the nearby streets in order to accommodate increased traffic have been a sticking point in debates over the Brookridge project in the past.
Financing for future construction remains murky
- Currently, the developer has secured and closed on financing to pay for below-ground infrastructure work, which should begin this spring, Johnson said.
- But “vertical construction” — that is, visible, above-ground work — for the mixed-use 510 North building is still contingent on getting proper financing for the project, he said.
- “The intent is to get it out of the ground vertical by the end of the year, but we don’t know what the capital market’s picture looks like in the next six months,” Johnson said.
- The city council unanimously passed the motion to push back the completion deadline for the 510 North building, in part, to give developers more time to secure financing.
The redevelopment has several construction phases
- The first phase of the project includes more than just the 510 North building, which will sit near the intersection of 103rd and Antioch once complete.
- Known as “The Village,” this first phase will be constructed on the Brookridge site’s north side.
- “The Village” will include two mixed-use residential and retail areas, nine spaces for retail or restaurants, one mixed-use space for residential and offices, one office and one retail and hotel building.
- By Dec. 31, 2027, Curtin must complete 100,000 square feet of office and 70,000 square feet of retail in “The Village.”