Developer Townsend Capital has invested $10 million in infrastructure improvements to the area surrounding its $200 million, 80-acre development in Lee's Summit's Chipman Road corridor. The goal, according to Townsend Capital's Steve Rich, is to set the project apart by making it shovel ready for commercial use and development-all without the use of public incentives.
"The entire project area is better off for having new roads, new curbs, sidewalks," Rich said. "Seeing this project through to completion has been almost a decade's work in progress. We cannot wait to see how it continues to take shape..."
The investment includes construction of the new $4.5 million Innovation Parkway and expansions of nearby Ward and Donovan roads, as well as new water, sanitary and storm sewer lines, and other improvements.
Lee's Summit City Manager Steve Arbo sees big economic development opportunity in the corridor, which city leaders previously identified as a prime undeveloped area requiring significant infrastructure investment to reach its full potential.
"These investments remove the obstacles that prevented this targeted area from becoming viable for economic growth," Arbo said.
More than $100 million in projects are under construction at the site, including the Missouri Innovation Campus building, Summit Square apartments and Holiday Inn Express. With more than 33 acres sold, 124 acres of zoned, improved acreage remain available for commercial development. Visit Townsend Summit.com for additional information.