Over the last year, Lee’s Summit Economic Development Council has watched potential deals for more than a dozen projects drift away, thanks to a lack of existing, speculative, or master-planned industrial space.
Now, that’s all changing. Lee’s Summit and Westcott Investment Group signed an agreement to enable the city to finally compete for critical commercial and industrial projects, says Lee’s Summit EDC President Rick McDowell.
Located in the southern part of the city at Mo 291 and U.S. 50, The Grove is a development project that calls for more than 1 million square feet of mixed-use office, warehouse and light industrial space in south Lee’s Summit. Construction on the initial 200,000 square feet of spec space is slated to begin in summer 2017 and finish by 2019.
“We expect that first building to be snapped up quickly. A local company has already expressed interest in the site,” McDowell said. “The EDC gets calls on an almost weekly basis from companies interested in leasing industrial space.”
The State of Missouri and the City of Lee’s Summit have already invested $18 million in ground work, improving roads and bridges near the site and realigning the interchange at Missouri 291 South and U.S. 50 and the new Bailey Road Bridge.
Additional provisions of the development agreement include financial guarantees for construction and infrastructure timelines as well as the donation of two acres within the site plan to the City for a new EMS location for a fire station.