X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

KANSAS CITY, MO-Jabez Territories LLC has proposed a plan to remove seven million tons of rock from a vacant, 141-acre site along Missouri Highway 350, in the Blue Valley area between Raytown and Lee’s Summit, and build about 290,000 sf of offices and retail, as well as 231 single-family homes on the property. The company is now in talks with the city to rezone the land, and gain almost $9 million incentives to help put in infrastructure and gain tax abatements for the $110-million development.

The developer has a plan to sell the rock to help pay for its removal, says Pete Vegelahn, COO of Jabez. “There’s this large knob of rock that we’re going to take out, and sell as aggregate, and then we’ll have a developable piece of property,” he tells GlobeSt.com. “It’ll cost us about the same, the profit margin is not tremendous. It’s basically a break-even. But we think this will work, and we plan to take this to other areas as a prototype.” Jabez is actually made up of four companies that will do all the work, including construction manager Vegelahn Construction LLC, excavating and utility contractor Team Excavating, Kenny Mack Trucking and rock seller Hillside Materials LLC.

Single-family homes will dot the property, mostly cottage and bungalow types, Vegelahn says. The commercial portion of the development will include 184,600 sf of retail which includes a 50,000-sf market, along with 13 pad sites. Also on the site will be a three-story, 39,000-sf office building. He says though the property is now vacant, there is demand. “You can get from here to Downtown Kansas City in about 18 minutes, as opposed to the 40 minutes it would take from the far west residential area of Lee’s Summit,” Vegelahn says. “It’s busy there, you get about 45,000 cars a day going by.”

He says the city is working through a new urban redevelopment district policy. Councilman Terry Riley, who represents the district where the land is, has been publicly supportive of the project. He did not return a call by GlobeSt.com. No rush, though, as the rock removal will take four years. “If everything is approved, we’re slated to come online in 2012 with the commercial, and the residential after that, from 2012 to 2016,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.