http://www.kcir.net/
Kansas City, MO
KANSAS CITY, MO-Jabez Territories LLC
in the comming year 2009,,
Kansas City, MO
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.”