KCK Mattel theme park plan moves forward as Bonner Springs OKs use of major incentive
As toy company Mattel has its sights set on Wyandotte County to build an amusement park with Barbie and Hot Wheels attractions, Bonner Springs council members on Monday approved the creation of a STAR bond district for the proposed project area near the Kansas Speedway.
Developers are proposing a nearly $500 million, 183-acre tourist hub at 118th Street and State Avenue dubbed Destination KCK. The Mattel theme park will anchor the project, along with three hotels, a retail center and other attractions. Roughly 50 members of the public sat in on the first hearing since details of the theme park were announced last month.
The City Council unanimously supported a measure that sets the boundaries of the district where STAR bonds would be applied. Short for sales tax revenue bonds, the state-run bond program is a powerful incentive tool that provides upfront capital to developers for major projects aimed at bringing tourists to the state.
Lawyers representing the interests of the city and the developer, Epic Resort Destinations, described the vote as an early step on a long road toward final approval. Finer details, including a development agreement with Bonner Springs, come later.
“What the consideration tonight is: Does the city want to set the stage on which this project could be developed?” Marc Abbott, an attorney representing the developer, told council members Monday.
Envisioned as the flagship in Epic Resort’s project is the Mattel Adventure Park, featuring a Barbie dream house attraction and Hot Wheels roller coaster. Outdoor space is expected to span 15 acres plus 125,000 square feet of indoor park for an attraction open year round.
The Mattel park would be the second in the country. The first was built in the suburbs of Phoenix and is slated to open this year.
Two other pieces meant to complement the park are a rainforest-themed attraction with live nature exhibits and a Christmas Village with a museum and ice rink.
A retail shopping center called the Frontier would house almost 34,000 square feet of space and could be themed around Kansas history.
And for lodging, there are three proposed hotels — and a total of about 500 hotel rooms combined — along with a luxury RV area with roughly 250 resort sites on the western side of the space.
Building the theme park, along with a resort and other neighboring attractions, is estimated to cost about $488 million.
Roughly $321 million could be financed privately, according to plans submitted by the developer, and other funding would come through state and local incentives, including $101 million in STAR bonds.
The developer is asking for additional bonds to be issued by Bonner Springs, along with an extra 2% sales tax through the creation of a community improvement district. In all, the total incentive value estimated in the project could amount to $182.7 million.
Developers behind the project have expressed interest in opening as early as 2026. Projected revenues submitted to the city as part of its application for STAR bonds amount to $92 million in its first year and twice that by its second.
Developer Epic Resort Destinations projects about 1,750 jobs to be created for the resort and theme park.
STAR bonds allow cities to help finance major projects aimed toward drawing tourists to Kansas. Under the program, municipalities issue bonds that are later paid off with future sales tax revenues generated in the project area.
The program has been controversial because it has taken some major developments years or even decades to repay the bonds using sales tax revenues, which limits the direct benefit to government revenues.
Critics have taken aim at some developments, saying the program is sometimes used inappropriately for projects that are too small. Proponents, meanwhile, say STAR bonds present a low risk to the state and motivate developers to build local attractions that otherwise would not take root in Kansas.
Examples of other development projects backed by STAR bonds in Wyandotte County include the Kansas Speedway and Children’s Mercy Park.
On Monday night, residents attending the public hearing in Bonner Springs City Hall offered some mixed thoughts about what the project might mean for the small town.
Several voiced hope the project would spur local growth. Others expressed concerns over traffic, noise, pollution and public safety.
Mayor Tom Stephens reminded residents Monday the approval of the STAR bond district is “the very start of this process.”
As conversations around the project continue, Stephens said he hopes to learn more about the financial needs associated with the project. And while a Mattel theme park in Bonner Springs could offer something “to boast about,” the mayor said he wants assurances the project will be a benefit to the city’s residents.
This story was originally published April 9, 2024 at 10:10 AM.
