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Exciting New Retail Building Joins Overland Park Galleria

Exciting Retail Development in Overland Park: Block Real Estate Services Seeks $15.2M Bond Issue

Overland Park is gearing up for a new addition to its bustling Galleria mixed-use development. Kansas City-based Block Real Estate Services has requested a $15.2 million private-activity bond issue from the Overland Park City Council to fund a 142,000 square-foot retail building in the area. This project would be the latest addition to the Galleria’s existing 588,000 sq ft of apartments, restaurants, offices, and senior living spaces.

A Vibrant Community at Galleria Mixed-Use Development

Located at 115th Street and Nall Avenue in Overland Park, the Galleria mixed-use development has become a thriving community hub. This development has attracted a diverse range of businesses, residents, and visitors, making it a vibrant place to live, work, and play. The addition of a retail building would further enhance the area’s appeal and offer new shopping opportunities for locals and visitors alike.

Why Private-Activity Bonds?

Private-activity bonds (PABs) are a financing tool used by local governments to fund projects that benefit the public. In this case, the Overland Park City Council would issue the bonds on behalf of Block Real Estate Services, providing them with the necessary funds to develop the retail building. PABs are often used for projects that have a significant impact on economic development and job creation, such as this retail development in the Galleria mixed-use complex.

Supporting Local Businesses and Job Creation

The retail building project would not only enhance the Galleria mixed-use development but also support local businesses and job creation in Overland Park. By attracting new retail tenants and shoppers, the development would contribute to the local economy and provide additional employment opportunities for residents. This project aligns with the city’s goals of promoting economic growth and supporting local businesses.

What’s Next for the Galleria Retail Project?

With the request for the $15.2 million private-activity bond issue now submitted, it’s up to the Overland Park City Council to review and approve the proposal. If approved, construction on the retail building could begin soon, bringing new shopping options and economic opportunities to the Galleria mixed-use development and the surrounding community.

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As a real estate agent with a passion for keeping my readers informed, I’m always on the lookout for the latest developments and trends in the industry. If you’re interested in learning more about the Overland Park real estate market or other exciting projects in the area, be sure to follow my blog and stay up-to-date with the latest news and insights. Happy house hunting!