WICHITA, Kan. (KSNW) — A new resolution to establish a tract of land for development in Park City as a STAR bond was approved by the Park City City Council on Tuesday.
“We work with people and bring people on board and that’s where we’re going to go with this,” Assistant City Manager Dana Walden said.
It is still in the early stages. The state has to give approval, then there will be a public hearing on February 14.
The stretch of land from 53rd Street to 61st Street in Park City will be designated as a STAR bond district under the new resolution, called Park Centre. The STAR bond program was created by the state of Kansas to stimulate economic development to help drive tourism.
“This new bond district would be a big win-win for Park City and its people,” Rachel Lange of Lange Real Estate said in a news release. “Creating new recreational and business opportunities – as well as jobs – for the community while also bringing in outside dollars. It’s also a key move in shaping the future growth of Park City, what the community will look like, and what it can become over the next decade.”
Developments within the STAR bond district are still in the early stages of development, but Lange Real Estate says it plans to feature eight separate apartment buildings, a townhome complex, and 10 different retail buildings with a combined 96,000 square feet of commercial space for lease.
This district will develop the former Echo Hills Golf Course land.
STAR bonds in Wichita have previously funded projects like the Stryker Sports Complex, Keeper of the Plains, and Riverfront Stadium.
“There are several cities across the state, alot of star bond projects. It’s just a good mechanism to the state has put into place to fund this type of development,” Walden said.
Construction is expected to begin in June 2023.