Sunflower Development Secures $11mm in New Market Tax Credits for Price Chopper

2020-10-06

Sunflower Development Group

Sunflower Development Group (SDG)  secured $11mm in New Market Tax Credits and $15mm in CID, TIF and Super TIF in order to cement a lease for a new 49,000 sqft Price Chopper with Balls Food Stores. The grocery store will be located in a dilapidated shuttered K-Mart located at Bannister Rd and Hillcrest. The developer LR- Kansas City 1, LLC had originally purchased the entire 100,000 sqft building for climate controlled storage; however, the City of Kansas City, Missouri asked that 50,000 sqft be utilized for additional retail to bolster the addition of the Cerner Campus.

After an exhaustive search, David Ball and his team began discussing the site as a possible alternative to its imminent closure of a 40 year old Price Chopper store a few miles away. The store had become outdated and inefficient and was slighted to close within months before the new site was discussed. In addition, as a great community partner, the development team executed a community benefits agreements with Hickman Mills which provided $125,00 in payments to a scholarship fund and other programs, but also committed to mentoring students in the district and preferential hiring of Hickman Mills students and families. Chris Vukas, Director of Economic Development said, “This is a win-win-win for the community and the City. Not only is this going to eliminate another food deserts (SDG’s third in two years), but it will create construction jobs, permanent jobs, maintain existing jobs and create revenue for the City that otherwise wouldn’t be there”. For more information check KSHB.com

  • Tags: