Earlier plans filed by the J.C. Nichols Company in 1997 before being purchased by Highwoods Properties, called for Nichols to construct a 180,000-sf office building with a 530-car parking garage at the 4900 Main St. site.
At the TIF commission meeting, a spokesman for DST Realty indicated the company had no immediate plans for the site, but would eventually come up with its own project. He did not specify what those plans would entail.
For the immediate future, it is believed that DST Realty will use the building at 4900 Main St. for one of the subsidiaries of its parent company, DST Systems Inc. A possible user is EquiServe Limited Partnership. DST Systems Inc. provides record keeping services for companies in the mutual fund industry and last month acquired controlling interest in EquiServe.
The building at 4900 Main St. was soon to lose one of its biggest tenants, Sprint PCS which occupies 172,000 sf of space. Sprint has said that this branch of its wireless division will be moving to the company's new corporate headquarters in Overland Park, KS.
In another move involving a south of the Plaza property, last August, DST Realty gained control of the Kirkwood Circle project from Highwoods Properties. Under the previous TIF plan, that project was to include a $50-million apartment complex to be built on 10 acres between 49th and 50th streets, Wyandotte Street to Wornall Road.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
