Friday, November 08, 2019

Mission Gateway At Standstill And Desperately Seeking Cash Via Loophole

Smarter news readers than TKC caught this one quickly, here's the update stolen quoted from a lesser blog . . .

"The Mission city council on Wednesday adopted a resolution that authorizes “the offering for sale of special obligation bond tax increment revenue bonds” for the Mission Gateway project, a step laid out in the redevelopment agreement approved by the city more than two years ago."

Meanwhile, most MSM reporting on the topic just re-posts propaganda without question . . .

Mission Gateway developer says construction is likely to restart soon

Mission, KS - Johnson County residents have seen little to no activity at a major construction site for months, but some may be happy to learn that work could resume soon for the Mission Gateway project. The development sits off Roe Avenue, between Shawnee Mission Parkway and Johnson Drive, and it comprises some of the most valuable real estate in the Kansas City area.

16 comments:

Anonymous said...

After 15 years, let's file this under the "Believe it when we see it" file.

Super Dave said...

Prime example of why you don't tear down perfectly good buildings for some idiots pipe dream having something to do with an huge fish tank.

Now it's a giant empty non-tax producing eyesore.

Anonymous said...

This is one of the most hilarious things ever. It's just a fucking lot that's sat empty in prime real estate for 20 years. If I were a mission resident I'd totally fight against development though...we don't need to diversify every place in the city

Anonymous said...

Same thing with that gigantic SIP structure South of Grandview. Damn thing is enormous. No idea what it's for but if they're planning retail I'd bet it never fills more than 40%. Maybe its one of the giant intermodal-type buildings like they have in G-town. I was surprised to see it all of a sudden finished on a trip to HD.

Anonymous said...

So basically saying a Chuck E Cheese for adults is going to turn that block around?
Good luck.

Hyperblogal said...

Empty lots generate little revenue. Just give it more time is obviously not working.

Anonymous said...

I have said this before. The interest coverage ratio makes this project unprofitable. And only a fool would underwrite or purchase the proposed City of Mission bonds to help finance this project. Bonds are not the instrument to be buying now with low rates. I think even a Shawnee Mission High School student taking a basic finance course could evaluate this as a financial disaster, This City of Mission has a terrible reputation after the driveway tax, church pew use tax, strip search of a soccer Mom in daylight outside the post office and the police giving a high and unreasonable amount of tickets. Mission needs to become part of Overland Park so it can be run like a real city. Corrupt Police need to go!

Anonymous said...

Not to worry.
The "developer" is just about finished putting together a deal for some cans of tuna fish for the "aquarium".
And McConwell, the Mission mayor at the time this fiasco was started, is still on public TV sharing her expertise and opinions as to how things should be done in the metro.
The menagerie of D-list celebrities in the KC metro is pretty small, so recycling the same failures is the best KCPT can come up with.
Sad.

Retro ROCKER said...

Probably the only establishment That would bring in Customers,Is,THE HARD ROCK CAFE, WITH Entertainment a Couple of times a week .

Anonymous said...

Yep, folks just can't get enough of Hard Rock Cafes in 2019.

Anonymous said...

Andy Ashwal. Greater New York City Area - ‎GFI Capital Resources Group, Inc.
Real Estate professional skilled at the creation and execution of full life cycle asset management. ... Highly talented and results-driven professional with experience across the real estate development industry with extensive experience in construction, asset management and property ...


LMAO

Anonymous said...

Andy Ashwal, 37, formerly sat on the council as the chairman of the Jewish National Fund. And chairman of Council of Young Jewish Presidents.

Money is just temporarily "tied up" nothing to worry about.



Anonymous said...

Mission government did this. They gave the developers a living hell. Seriously.. a gaming center? The over zealous Mission cops are salivating.

Anonymous said...

"entertainment center"


LOL

Anonymous said...

I am not visiting even when its done. And I live near it.

Anonymous said...

The lake that was there 70 years ago keeps coming back up.