Kansas City — $1 Billion in Development
Kansas City officials say $1 billion in economic development has taken place downtown since the 2.2-mile modern streetcar project was approved in December 2012 to link River Market downtown with Union Station, Kansas City Business Journal reports.
"I'm not saying that that $1 billion is directly tied to the streetcar," said John Pajor, manager of the center better known as KC Biz Care. "I'm just saying that we have seen over $1 billion in investment in the downtown area since the project was announced."
The total was derived by adding figures announced in press reports to figures in the city's building permits, he said, and none of those totals is counted twice in the calculations.
According to Pajor, the KC Biz Care office and the City's Planning and Development Department have been tracking the value of projects the city has seen since a program designed to ensure the success of developments located near the streetcar line was launched in August 2013.
The program provides expedited planning review and other services to developers inside the development district through the KC Biz Care office.
According to KC Biz Care's research, 45 projects with a total construction permit value of about $242.9 million have received assistance from the office.
Planning department research indicates that an additional 271 smaller development projects with a total permit value of $92.8 million have been approved through the city's traditional process, Pajor told the Kansas City Business Journal.
Projects such as RMWest Apartnments, Roasters Block, Centropolis on Grand and 1914 Main have received development incentives from Kansas City and its incentive-granting agencies.