Townsend Capital completing $10 million in infrastructure improvements without the aid of public-sector incentives
As the 80-acre, $200 million Townsend Capital development takes shape off Chipman Road in Lee’s Summit, the developers have another number they are proud to share – $10 million.
That’s the amount of money Townsend has invested to infrastructure improvements around Chipman, Ward, Donovan and Innovation Parkway.
Townsend Capital’s Steve Rich said it’s that immense investment back into land it owns to make it shovel-ready for development and commercial use that sets this project apart.
And that they’re doing it with zero public incentives makes this development even more unique.
When the road and other improvements are done, Townsend Capital will have seen through many road projects, including: a $1 million expansion of Ward Road from Chipman to Tudor; the new $4.5 million Innovation Parkway (from Tudor to Ward); and a $3.5 million expansion of Donovan from Chipman to Ward.
In addition to those developments, Townsend Capital has invested in new water and sanitary lines and storm sewer lines, electrical and gas distribution and all right-of-way land dedication and improvements, including 15 acres dedicated to a regional stormwater detention facility.
These infrastructure upgrades were handled by Townsend Capital for the betterment of the project and of Lee’s Summit, Rich said.
“The entire project area is better off for having new roads, new curbs, sidewalks,” Rich said. “We are thrilled to make this investment back into Lee’s Summit as this area continues to attract commercial, housing and other needed development opportunities.”
Currently, over $100 million in projects are under construction at the site, including the Missouri Innovation Campus building, Summit Square apartments and the nearly-completed Holiday Inn Express.
More than 33 acres have sold for commercial development, leaving 124 acres of zoned, improved acreage available for commercial, restaurant, shopping, entertainment and office use.
Most importantly, Rich said, is all land improvement projects have been completed without the use of public incentives.
“We have been entrusted and are committed to the betterment of Lee’s Summit,” said Rich, a Lee’s Summit resident. “Seeing this project through to completion has been
almost a decade’s work in progress. We cannot wait to see how it continues to take shape from a development standpoint and how it benefits Lee’s Summit through a jobs and tax base perspective.”
Lee’s Summit Mayor Randy Rhoads said the new infrastructure will be a boon to development.
“The expansion of Ward Road from Chipman to Tudor will allow improved access to existing projects currently under construction, as well as providing benefit to potential new development in the area,” Rhoads said.
Lee’s Summit City Manager Steve Arbo noted the diligent and forward-thinking planning that went into this project that will translate to additional economic development opportunities in the area.
“Several years ago, the City identified undeveloped areas that could become prominent economic development locations,” Arbo said. “As a result of the investments being made by Townsend, public infrastructure improvements in streets, stormwater, sanitary sewer and water systems have been taking place within the Chipman, Ward and Tudor Road corridors. These investments remove the obstacles that prevented this targeted area from becoming viable for economic growth.”