Loretto Properties plans to develop 50 acres of land on the southwest corner of West 119th Street and Renner Boulevard in Olathe.
Renderings by Slaggie Architects
Olathe’s multimillion-dollar ultra-accessible theme park was slated to begin construction this summer. But it hit a bump in the land’s sale and paused any action until it can get resolved.
Lamar Hunt Jr.’s company, Loretto Properties LLC, and VanTrust Real Estate plan to build a $320 million entertainment district that will include the theme park, a hockey arena and a six-story hotel on the southwest corner of West 119th Street and Renner Boulevard. Additional restaurants, retail, medical offices and an outdoor-event space will accompany the main attractions.
The Olathe City Council approved the project in January. The developers initially planned to start construction in July, but a titling issue with the property has stopped the land’s sale — hindering the construction start date, said James Arkell, chief operating officer of Loretto Companies and Hunt Jr.’s son-in-law.
“They are standard items and nothing out of the ordinary. Given that the property is bank-owned, it just added a little bit to the complexity,” Arkell said.
In order to close on the land, the developers need the title issues resolved.
Arkell said he needed to be “vague out of respect for the ongoing negotiations.”
“We are working hard with the city and other neighboring properties to ensure that everyone is on the same page and there aren’t any issues or misunderstandings in the future,” Arkell said.
According to the Kansas City Business Journal, the title restrictions were inherited from a previously proposed mixed-use development that interfered with their plans for “certain entertainment parcels.”
“When they were putting that plan together there were things that made sense at the time for the title paperwork… We are creating a whole new project plan with the city and the approval process has been fantastic,” Arkell told The Star. “This is just one of those things that comes up in most developments you have like this that get in the way.”
He’s still hoping the project will break ground this year.
“It’s the only thing holding us up which I think is good news because it’s the only thing holding us back,” Arkell said. “Coming to an arrangement that will keep everyone happy will be imminent.”
Loretto Properties plans to develop 50 acres of land on the southwest corner of West 119th Street and Renner Boulevard in Olathe. Renderings by Slaggie Architects
What happens to the incentives?
The project will be supported by about $104 million in incentives. In September, the City Council approved creating a sales tax revenue (STAR) bond district to support the development of entertainment and tourism attractions, like the ultra-accessible theme park and hockey arena slotted for 119th and Renner — also referred to as the Olathe Gateway.
The theme park, Michael’s World, is in honor of Hunt Jr.’s grandson and Arkell’s son, Michael, who has a rare medical condition that requires him to be in a wheelchair. Loretto Properties wanted to design a place where families with children who have disabilities could be together without limitation — similarly to Morgan’s Wonderland in San Antonio.
Arkell said that the incentives are in line and ready to go. Once the titling issue is resolved, the developers will close on the land and can get moving on construction.
“The incentives are granted based on the project, not the land. But without the land you don’t have the incentives,” Arkell said. “It’s that linchpin. In order for us to move forward with retail we need the land.”
“The incentives are all sitting waiting. They are performance-based. The STAR bonds will not be issued until we have the retail to support it.”
The project has to go before the City Council one more time for final project plan approval, but no date has been set for discussion as of June 20.
This story was originally published June 22, 2025 at 6:00 AM.
Taylor is The Star’s Johnson County watchdog reporter. Before coming to Kansas City, she reported on north Santa Barbara County, California, covering local governments, school districts and issues ranging from the housing crisis to water conservation. She grew up in Minneapolis and graduated from the Walter Cronkite School of Journalism and Mass Communication at Arizona State University.
