RED Plans $175M KC-Area Center

(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

LEE’S SUMMIT, MO-RED Development executives plan to build a $175-million, 605,000-sf open-air lifestyle center in this Kansas City, MO suburb, slated for a ground breaking in about a year and a 2008 opening. The yet-to-be named development will be built near SummitWoods Crossing, a 785,000-sf power center here anchored by Lowe’s, Target and others.

The center will be similar to the 600,000-sf Village Pointe, a Main Street-style lifestyle center in Omaha, Dan Lowe, a RED development partner, tells GSR. But RED officials are planning two department stores for the Lee’s Summit center, whereas Village Pointe only has one. “We’ve never done a deal with two department-store anchors,” Lowe says.