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Partnership Announced for Downtown Market Plaza

Partnership Announced for Downtown Market Plaza

A long-term strategic vision for downtown Lee’s Summit is becoming a reality as the City of Lee’s Summit officially announces a partnership with LANE4 Development Group and Biederman Redevelopment Ventures to develop the Downtown Market Plaza, a redevelopment project located near Southeast Green Street and Southeast Third Street.

City Council approved a development structure agreement during its meeting on April 20, naming LANE4 Development Group as the master developer of the project and Biederman Redevelopment Ventures as the manager. The two firms received unanimous support from a selection committee comprised of four members from the City and three members from the Downtown Lee’s Summit Community Improvement District. The conceptual plan for the mixed-use Downtown Market Plaza consists of a permanent farmers market, conservatory, boutique hotel, mixed-use commercial building, outdoor performance area, apartment complex and courtyard.  

“We are looking forward to working with our partners to bring to life an inviting, accessible community space that will richly enhance our already vibrant downtown,” said Mayor Bill Baird. “The Downtown Market Plaza will provide a variety of experiences and activities for residents and visitors alike, making it a premier regional destination.”

As the master developer, LANE4 Development Group will collaborate with numerous stakeholders and the community to develop a preliminary design for the public components of the project, evaluate options for the private components of the project and assess financing options. LANE4 is based in Kansas City, Mo. and has a successful record of developing projects that serve the community. Previous projects include the Red Bridge Shopping Center in Kansas City, Mo., Corinth Square in Prairie Village, Ks. and 39Rainbow in Kansas City, Ks.

“We are extremely excited about the Downtown Market Plaza. This project embodies so many of the characteristics that LANE4 strives to incorporate into every project we take on: a true, community-focused destination that will not only invigorate the site of the project itself, but will build upon and add to the already memorable shape and character of the City of Lee’s Summit as a whole,” said Owen Buckley, president and founder of LANE4 Property Group. “We are anxious to dig in and get to work exploring the possibilities for the site, and unlock the potential we know is there.”

Biederman Redevelopment Ventures will serve as the manager of the project, developing programming and management plans for the public area components of the Downtown Market Plaza in close coordination with the City, Downtown Community Improvement District and Downtown Lee’s Summit Main Street. Based out of New York, Biederman Redevelopment Ventures specializes in placemaking, creating public spaces that are inviting, safe and active. The firm operates parks, plazas and public spaces throughout the country.

“We could not be more excited about working with the very capable Lee’s Summit mayor, council and other stakeholders on their vision for the Downtown Market Plaza,” said Dan Biederman, president of Biederman Redevelopment Ventures. “The energy of the downtown merchants and the multiple arts entities in the city will make our task much, much easier. And Lane4 loves the city and will be a great partner!”

City Council also gave initial approval to a cooperative agreement with the Downtown Lee’s Summit Community Improvement District for the funding of the Farmers Market Pavilion. The pavilion is a key public component of the overall project. The Downtown Community Improvement District will contribute up to $120,000 for the schematic design, engineering and construction documents for the Farmers Market Pavilion and up to $4 million over 20 years for construction of the pavilion. In addition to the initial approval of the cooperative agreement, City Council approved a budget amendment allocating approximately $3.5 million from the sale of surplus properties to the Downtown Market Plaza project fund.

In April 2013, Lee’s Summit voters approved a $2,898,000 general obligation bond for the purpose of constructing and rehabilitating public improvements for cultural arts, including improvements to the Legacy Park Amphitheater, rehabilitating the former city hall building, and the creation of a downtown performance and festival space.

“The construction of a permanent farmers market space and a small outdoor performance venue has been a desired outcome for many years. City staff is excited and ready to begin the partnership project between the City, downtown community and the private investor,” said City Manager Steve Arbo.

For more information about the Downtown Market Plaza, visit cityofLS.net/downtown-farmers-market-and-conservatory.

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