The Tax Increment Financing Commission of Kansas City on Wednesday approved an amended agreement with real estate developer Jon Copaken that gives him an extension to start on a new office building downtown.
Under terms of the new agreement, Copaken has seven years to begin construction on what’s currently surface parking at the northeast corner of 13th Street and Grand Boulevard.
It could be the first major downtown office building construction since H&R Block’s headquarters. Copaken said he needs to get the office building at least 50 percent pre-leased, which means he’s in the market to land a large corporate tenant.
While downtown has made strides in attracting residents, additional retail and businesses, a new, major corporate presence remains elusive.
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Also on Wednesday, the TIF Commission entered into a funding agreement with real estate firm MD Management on a Costco-anchored development at Missouri Highway 152 and Platte Purchase Drive.
Costco is expected to begin construction on the southeast corner of the intersection in August with an opening planned for spring of 2017. Retail is planned for the surrounding area.