April 14, 2006 – Financing for 47th Street Development
An Overland Park developer’s plan for a 21-acre development at the southwest corner of 47th Street South and Broadway goes back before the Wichita City Council Tuesday.
David Christie, a commercial developer with Christie Development Associates, LLC, will ask for $1.5 million in tax increment financing for infrastructure, demolition, site work, parking landscaping and relocation costs.
He plans to replace the existing multi-tenant shopping center with a new 135,000 square foot Home Depot store and a 30,000 square foot retail center on the vacant land to the west.
Total development costs are estimated at $8.6 million. The development, Christie says, would employ 200 people at an estimated hourly wage of $12.
The action also will require the establishment of a redevelopment districted bounded by Water on the west, Broadway on the east, 48th on the south and 47th on the north.
This news article taken from the Wichita Business Journal