A new investment group in Kansas is proposing to spend $1.5 billion to develop new uses for Wichita’s Century II Convention Center.

Penumbra International revealed a general plan at a news conference Friday.  The group is proposing a 500-room, 40-story convention hotel with retail, dining and recreation facilities.  The plan also calls for an aerospace museum, an observation Ferris wheel, an aquarium and other features.

The group says its plan will not involve tax dollars, but no other details have been released.

A community coalition has released a Riverfront Legacy Master Plan that calls for Century II and the former downtown library building to be torn down, and it has a 10 to 15 year plan for building a new convention center and performing arts center.   The plan would cost around $1.2 billion.    It will be presented to Wichita city council members and Sedgwick County commissioners in a combined meeting scheduled for March 24th at city hall.

A citizens group has been circulating petitions calling for a vote on the future of Century II.