Wichita City Council members have voted to approve changes in a development plan for an area near Riverfront Stadium, in the Delano neighborhood.
The project plan covers the redevelopment of land north of Maple and south of Texas Street on both sides of McLean.
Assistant City Manager Troy Anderson said the development that was planned near Riverfront Stadium has changed in scope, and plans moved from offices to residential space, with a change from private parking to public parking.
EPC Real Estate Group is planning a development with a 155-key hotel, a 150 unit apartment complex and 10,000 square feet of retail space, along with a 260-stall parking garage. Because of higher construction costs, the investment for the project has gone from $77 million to $110 million.
A Tax Increment Financing District was established in 2017 to provide funding from increases in property taxes for certain parts of the project, including infrastructure and riverfront improvements and parking. The district will provide a maximum of $11.3 million for these improvements.
City Council member Bryan Frye said it’s good project with a good development partner, and it will generate revenue to pay the city’s debt on the construction of Riverfront Stadium. Council member Jeff Blubaugh said it’s a great project, but he wanted to address the debt service on the stadium before moving ahead with the $11 million incentive.
The council voted 6-1 to approve the project plan, with Blubaugh voting no.
[ image: Design concept for the hotel development ]
