Legacy Development’s $90 million plan to build up a bare corner in Shawnee is on hold without a partner to build the apartments proposed for the project.
Bellmont Promenade had been in the works for years as a strictly commercial development, but Legacy added housing to the mix earlier this summer and planned to go before the Shawnee City Council for tax incentives and rezoning of the property on the southwest corner of Shawnee Mission Parkway and Maurer Road.
Earlier this week, the company withdrew its requests.
Legacy spokesman Dave Claflin said the project is “not dead” but on hold because the company hasn’t finalized an agreement with a company that can develop the apartments.
“It didn’t make sense to move forward with the application and the (tax-increment financing) and everything because we don’t know this last — very important — part of the whole equation,” Claflin said.
The current form of the project calls for a mixed-use section with 230 apartments and 12,000 square feet of commercial space. A separate part of the project away from the apartments would have 200,000 square feet of commercial space with a mix of large and small retailers and restaurants. Claflin said he expected the retailers would be “predominantly a mix of national tenants.”
It’s not Legacy’s intent to revert back to the original commercial-only development plan.
“We think the market demand is there for this multifamily,” Claflin said. “We like the energy — the 24/7 energy — that residential gives the project, so it’s not our preference to move away from the mixed use.”
Claflin said the company hopes to finalize an agreement to build the apartments and close on the sale of the ground this year.
“So we don’t see this as a hiatus for a period of months,” he said. “It’s a pause for a few weeks.”
Legacy had hoped to start construction next month and open in the fall of 2019, but with the delay, Claflin hopes to start construction in the spring and open in the spring of 2020.