Woodbury Corporation to Redevelop $300 Million Mixed-use Kansas City Property

October 15, 2018 | Press Release
By Woodbury Corporation

Woodbury Corporation to Redevelop $300 Million Mixed-use Kansas City Property

Press Release
By Woodbury Corporation
Woodbury Corporation to Redevelop $300 Million Mixed-use Kansas City Property

  • Formerly Known as the Great Mall of the Great Plains, the New Development Will Be Named Mentum
  • Mentum Will Include Approximately 250,000 Square Feet of Entertainment/Retail/Restaurant Space, 200,000 Square Feet of Office Space, 300 Apartments, Two Hotels, and a multi-purpose arena

SALT LAKE CITY (October 15, 2018) – Woodbury Corporation, a full-service real estate management and development company, today announced it is under contract to purchase the 100-acre site that was formerly home to Olathe’s Great Mall of the Great Plains, and will be redeveloping it as a $300 million mixed-use property named Mentum.

Named to illicit an active and progressive mixed-use environment, the new Mentum project is expected to include about 250,000 square feet of entertainment, retail and restaurants, and 200,000 square feet of office and medical office space. Additionally, Mentum will offer living spaces, including approximately 300 multi-family apartments (300,000 square feet), and two hotels. Plans for the development are still being made, but a number of entertainment-focused anchors are being considered, including an interactive golf facility, a cinema complex and a fitness center.

Mentum will also feature a 4,000-seat arena and a community ice center for youth hockey, both of which will be operated by an affiliate of Loretto Sports Ventures, LLC, a company owned by Lamar Hunt, Jr. that operates the Kansas City Mavericks ECHL hockey team and the Topeka Pilots NAHL hockey team.

The arena will also serve as the home base for the Kansas City Youth Hockey Association (KCYHA).  The Kansas City Ice Center (KCIC) also plans to partner with the arena to attract an impressive lineup of major youth hockey tournaments that will run throughout the year.

“We are all excited about the success of the KCYHA, and we know that the new arena – with all its related facilities – will position the Kansas City area as the hub for youth hockey in our region,” commented Mr. Hunt.  “Working together with the KCYHA, KCIC, and our adaptive hockey program, the Mentum development will spur the growth of hockey in our community and will help make hockey accessible to and fun for everyone.”

Over the past several years, Woodbury Corporation’s private equity arm has partnered on several Kansas City-based development projects, totaling 760 apartment units and 215,000 square feet of commercial space. In addition to Mentum, Woodbury Corporation is also currently a partner on the development of The District at Lenexa City Center mixed-use project and the Avenue 81 senior living center project in Overland Park.

“We enjoyed building relationships with our Kansas City partners over the years, and we’re excited about this new opportunity to continue our work in the area,” Josh Woodbury, vice president of acquisitions for Woodbury Corporation. “We feel that when completed, Mentum will be a great amenity not only for the local community of Olathe, but for the whole state of Kansas as well.”

 

About Woodbury Corporation
Founded in 1919, privately-held Woodbury Corporation is one of the oldest and most respected full-service real estate development companies in the Intermountain West. Headquartered in Salt Lake City, Woodbury Corporation owns and manages over 14 million square feet of retail, industrial, hotel, residential, and office buildings across 15 states. Some of these properties include University Place in Orem, Utah, Magic Valley Mall in Twin Falls, Idaho, and eight office buildings in the University of Utah Research Park.  For more information on Woodbury Corporation’s properties and projects, visit http://www.woodburycorp.com.

 

Press Contact
Jane Chandler, Crossroads
jchandler@crossroads.us
573-230-3427