Wichita Recap March 24

RECAP

Overland Park-based EPC Real Estate Group is spearheading a development project adjacent to the home of the Wichita Wind Surge baseball team. Following delays in initiating development around Riverfront Stadium, the Wichita City Council's approval of a new agreement with EPC, which removed the previous owners' development group from the project, alongside incentives, is anticipated to pave the way for construction commencement in the third quarter of 2024. This development will feature a hotel, luxury apartment building, a large parking garage and 10,000 SF of retail space.

Since the 1920s, the eight-story Petroleum Building has been a part of the Wichita. Now over 100 years later, the building is being renovated. The Petroleum is expected to be mixeduse, potentially featuring ground floor restaurants and upper floors to be used for medical or professional offices. Construction is set to be started this spring. Schellenberg Development Co and Crain Development purchased the Petroleum, along with two other buildings in the area, Kress Energy Center and McClellan Hotel Building. The three properties are near the new biomedical campus.

The $22-million outdoor expansion at Exploration Place broke ground for the amphitheater this March. The ampitheater is set to be compete in September for the annual Drone Light Festival. Textron Aviation also announced their $3-million commitment to the expansion, giving them the naming sponsor. The Textron Aviation Flight Adventure will be the center piece of the 6 5 acre playspace and will be located in the southeast portion of the property. The park is designed to offer a theme-park-like experience for all ages. The playscape is set to break ground in summer of 2024 and hopes to open in the fall of 2025.

The Morrow & Co building is getting a new name: Boardroom. The office space on the corner of 3rd and Emporia will now be a space for collaboration. The Boardroom is looking for tenants to join the office. They are looking primarily for anything that is related to real estate, but won’t turn anyone down. The property has many amenities, incuding a kitchenette, multiple conference rooms, and a fenced-in parking lot. Between the ground floor and basement, there are 10+ offices available to lease in the building. The Boardroom won’t be a coworking business, but does have some ideas on hub spaces and renting conference rooms out.

WICHITA RECAP

Hutton Development is renovating the former American Legion Building at 126 N St Francis in downtown Wichita. The company aims to transform the 14,000 square-foot space into an attractive commercial property, diverging from the residential trend seen with many older buildings. Hutton Development targets a mid2024 completion date for construction. The unique character of the building, including its history as a former American Legion location and a dance hall, presents opportunities for creative adaptation. Hutton, serving as both architect and general contractor, aims to preserve the building's legacy while modernizing its facilities.

The Wichita City Council unanimously approved a grant for $2 million, to facilitate the construction of a 37,400square-foot addition to the existing Child Advocacy Center of Sedgwick County in south Wichita. The total estimated cost of the project is $12.8 million, with $6.4 million already secured through community donations and pledges, including the recent $2 million grant from the city. The decision to expand arose two years ago after a facility space analysis highlighted the need to accommodate the center's growing clientele, which has surged by 127% since 2021. The project is anticipated to be completed by 2025.

The Neighboring Movement is revitalizing South Broadway, or "SoCe," with proactive measures since 2015. Recently, they acquired four buildings for $600,000 to create SoCe Corner, a $1.2 million commercial center. The project envisions a mix of businesses, including a coffee shop, retail spaces, and an artists’ collective. Supported by Fidelity Bank and the Wichita Foundation, the project aims to employ residents and attract businesses. Construction is set to start in July, targeting completion by 2025s second quarter, contributing to broader downtown revitalization efforts.

The Copper Tail addition, a 15-acre mixed-use development in Haysville, is on track to complete its first phase by this summer. The project includes commercial and residential spaces, with a retail strip planned for the front and residential units in the back. The project aims to provide housing options for young professionals seeking leasing opportunities. The development will have 100 total residential units, which will include single-family units, 16 duplexes and 17 quadplexes. Phase 1 of the project will have nine quadplexes completed in the next two months. Businesses like Cajun Crab have shown interest in occupying the retail spaces upon completion.