It’s Wednesday, Blue Valley!
☁️ Today’s forecast: Mostly cloudy with a slight chance for storms this afternoon. High: 77. Low: 61.
One thing to know today
The Wichita-based developer behind Aspiria says it has secured an extended deadline for its $232 million loan for the massive project to remake the former Sprint campus in Overland Park.
The maturity date on Occidental Management’s original commercial mortgage-backed securities loan was Aug. 10, but the company began working earlier this year to negotiate a new repayment deadline with its lender, KeyBank National Association.
That, in part, prompted one ratings agency to downgrade the loan for the Aspiria project to “watch downgrade” status and list it as a “loan of concern.”
Occidental officials said in a news release this week that “at no point during this process was the loan in default.”
The company did not disclose the loan’s new maturity date in its statement.
The former Sprint headquarters campus at 119th Street and Nall Avenue is being redeveloped into a 207-acre, mixed-use area of apartments, office, retail, green space and water features. Occidental acquired the property in 2019.
Post’s top Tuesday stories
- These 56 Blue Valley high schoolers among local National Merit semifinalists
- Overland Park had started firing police chief when he resigned last week
- This Blue Valley para is one of the district’s ‘most distinguished’
- This year’s Best of Johnson County Beauty & Wellness winners
- Johnson County man charged with trying to kill family appears in court
Other local news
- Developer eyes Olathe spot for 550-unit apartment project. Block Real Estate is seeking rezoning of 30 acres near College Boulevard and K-7 to make for the medium density multifamily development. [Kansas City Business Journal]
- Another JoCo district joins suit against social media companies. The Gardner-Edgerton district is joining the same class-action lawsuit the Shawnee Mission School District is participating in that argues social media apps are detrimental to students’ well being and sapping school resources. [KCTV]
- KC hospitals among most racially segregated in U.S., study concludes. A new study from the Lown Institute, a nonprofit health care think tank, shows the Kansas City metro area has one of the highest proportions of mosts and least inclusive hospitals. [Kansas City Business Journal]
A thousand words
A picture perfect sunrise caught in downtown Overland Park earlier this week. Photo courtesy Twitter/@alepat911.
