The Kansas City Council on Thursday approved a tax increment financing deal to help transform the nearly 40-year-old Metro North Mall in the Northland.
The mall, which has been declining for 15 years and has been largely shuttered for more than a year, would be mostly demolished and converted to include new stores, housing, a hotel and cinema.
City officials have high hopes of reviving the once-thriving shopping center at the intersection of U.S. 169 and Barry Road.
The project is estimated to cost $186 million, with tax increment financing of $71 million, or about 38 percent of the total cost.
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The plan, by AIS Partners Ltd., calls for 826,175 square feet of retail; 60,000 square feet of office space; 150 apartment units; and a 100-room limited service hotel. It would also have considerable greenspace and a large outdoor courtyard for community events.
An upscale grocery is part of the plan. No specific tenants have yet been named.
Construction could begin in the spring, although the total buildout could take five to seven years.