After much excitement surrounding a new development on the five-acre plot of land at 51st Street and Brookside Boulevard that could include housing, retail and possibly a 5,000 seat arena, UMKC has paused the request for proposal process.
UMKC first opened their request for bids from developers in late July, but on Oct. 18 announced they would be conducting a new feasibility study because proposal bids were higher than anticipated project costs.
“Based on current specifications, an analysis of the proposals showed that the proposed private development included in the plans wouldn’t generate enough revenue to cover project costs,” said Sean Reeder, vice chancellor of finance and administration.
While the arena and development would be located on UMKC grounds, the university would lease the plot to developers and then lease back the arena for athletics and events. The developer awarded the proposal bid would have ownership of the establishment and use the facility for other events at available times.
Previously, there have been two buildings on the plot of land where the proposed development is planned for.
In 1998, UMKC purchased the Twin Oaks apartment building for $7.3 million. However, just seven years later, the building was torn down due to lack of structural soundness.
In 2008, a development team built the Oak Place Apartment complex on the same plot of land. UMKC took over leasing of the building in April 2010 until purchasing Oak Place for $41 million in March 2012. Seven years after acquisition by the university, in 2019, the building required $52.4 million in repairs, and Chancellor Agrawal decided to tear down the construction in 2020.
“Developing these empty lots occurs in the shadow of a very expensive past,” said Dr. Shannon Jackson, UMKC professor and Humanities and Social Sciences Department chair. “Since we are still paying for multiple structures that are no longer there, we need to ensure anything we build in their place is not only durable, but fully supports and enhances the university’s mission as well.”
