Renovation on the decades-old Truman Corners shopping center in Grandview will begin this spring.
Last week, the city’s Board of Aldermen approved a new tax increment financing plan for a scaled-back project proposed by RED Legacy LLC.
It will involve an extensive remodeling of the shopping center, to be called Truman’s Marketplace. The plan calls for $34 million in public financing for the $75.6 million project.
The 72-acre retail area, which sits on Blue Ridge Boulevard and Interstate 49, will feature a wide variety of stores and new restaurants.
In a couple weeks, the board is expected to approve the ironed-out financial details for the plan, officially sealing the deal, said City Administrator Cory Smith.
If all goes smoothly, construction could begin as soon as the first week of April.
During construction, Price Chopper and other existing stores at the shopping center will remain open.
Those include Dollar Tree, GNC, Advanced Auto, Payless Shoe Source, Radio Shack, Topsy’s, Truman Corners Barber, Sally Beauty, CitiTrends, 54th Street Grill and International House of Pancakes.
New stores joining the project will include Ross Dress for Less, T.J. Maxx, Burlington Coat Factory, LC’s Famous Kansas City BBQ, Petco, Shoe Carnival, Anna’s Nails and McAlister’s Deli.
“This is a property that has needed some TLC for a long time,” said Dave Claflin, spokesman for RED Legacy LLC. “It’s a wonderful and fitting front door to Grandview.”
The journey to construction has been a tenuous one for the developer.
Last summer, the city approved a $39.5 million public financing plan for an $87.6 million complete redevelopment of the shopping center, which would have included a total demolition and new construction.
But that financing plan had been contingent on the company finding a major anchor for the adjacent former Sam’s Club site.
With no retailer lined up, the company came forward earlier this year with the current plan, which omits the Sam’s Club site and downsizes the project by $12 million.
After the unexpected challenges, RED Legacy LLC is anxious to finally move forward, Claflin said.
Because of its highway accessibility and central location, developers believe Truman’s Marketplace will be a retail power destination for the southern part of the Kansas City area.
The site also has historical significance. It was where the boyhood farm of President Harry S. Truman once stood.
The shopping center was built in 1958.
Truman’s Marketplace is expected to open the fall of 2016.
“We couldn’t be more thrilled to get the project underway,” Claflin said. “It’s been a long time coming.”