Latest news with #Aspiria
Yahoo
3 days ago
- Business
- Yahoo
Kansas City Royals confirm affiliate bought Aspiria campus mortgage in Overland Park
The Kansas City Royals confirmed Wednesday that an affiliate purchased the mortgage on the Aspiria campus in Overland Park. The news, first reported by The Kansas City Business Journal, was confirmed by the team in a statement Wednesday afternoon. However, the statement also says the team has not selected a stadium location.
Yahoo
3 days ago
- General
- Yahoo
Overland Park police ask for public's help identifying man hit by car on I-435
KANSAS CITY, Mo. — Overland Park police are asking for the public's help identifying a man who was seriously hurt after being hit by a car Wednesday on Interstate 435. On Wednesday, May 28, around 11:32 a.m., the Overland Park Police Department said officers responded to a crash on I-435 East at Antioch Road. Royals' affiliate buys Overland Park Aspiria campus' mortgage Police said a man was walking north across I-435 from the Antioch Road on-ramp. As he was crossing the highway, police said he was hit by a car. The man was taken to the hospital with serious injuries, according to police. Since he did not have identification on him, police are asking for the public's help identifying the man. According to police, the man is Asian and between the age of 25 and 35. Anyone with information is asked to call the Overland Park Traffic Unit at 913-327-6731. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Bloomberg
4 days ago
- Business
- Bloomberg
Office-Bond Bet Gone Wrong Deals Lord Abbett a $60 Million Blow
Lord Abbett & Co. was dealt a more than $60 million blow on a commercial mortgage-backed security tied to an office campus in suburban Kansas City, after the underlying loan was sold at a steep discount. The money manager owned the vast majority of the $233 million CMBS, which was backed by the mortgage on the Aspiria office campus, formerly the headquarters of telecom giant Sprint Corp. The riskiest portion of the securitization, with a face value of more than $65 million, was wiped out earlier this month after the loan's sale left just $164 million to distribute to creditors, according to the latest monthly remittance report.
Yahoo
21-05-2025
- Business
- Yahoo
Black and Veatch plans new $1.1 billion headquarters development
OVERLAND PARK, Kan. — Overland Park based Black and Veatch wants to build a new world headquarters on its existing property near 112th and Lamar. But its plan adds more than just office $1.1 billion project would also bring in residential, retail and a hotel. But they are looking for Overland Park's help to finance the project. American Airlines add flights to KCI after Chiefs schedule is released The finance committee will hear the engineering giant's pitch this week on why it should get about $250 million in funding support. Mayor Curt Skoog is excited about the potential redevelopment. Just north of Sprint's former world headquarters, now Aspiria and soon to be the home to Fiserv, Black and Veatch's towering building sits on a sprawling site surrounded by grassland and parking, 'This is one of our strategic investment areas where we are wanting to transform College Boulevard from the suburban office corridor that is today to the work place of today and tomorrow,' Skoog said. After three years of discussions, according to the mayor, Black and Veatch has decided it wants to keep its headquarters on Lamar between 112th and 115th Street. The engineering firm said in a statement 'Black & Veatch continually explores ways to enhance and optimize our workplaces to create vibrant, collaborative environments that attract and retain top talent while meeting our growing demands and our clients' evolving needs. That includes consideration of a new, modern global headquarters currently being proposed on our existing, longstanding Overland Park location. We are working with the city of Overland Park for approval requirements, which is part of the process as we strategize how to best enhance our workplace. While no formal decisions have been made, we've been a strong, grateful member of the Kansas City-area business community since our founding more than a century ago, and we certainly don't expect that to change.' It plans to build a 610, 000 headquarters for its 2,200 employees. They'd also add 233,00 square feet of office space, 550,000 square feet of retail and commercial, 1,884 residential unit and a 160 room hotel. They would also build a parking structure with nearly 6,000 spaces. The company is asking the city to create a redevelopment district which would create an estimated $227 million in TIF funding and about $20 million in CID funding for Black and Veatch to use on the project. FOX4 Newsletters: Sign up for daily forecasts and Joe's Weather Blog in your inbox 'When all of the complete project is done, which is more than the Black and Veatch headquarters, you are talking about over a billion dollars of investment, which is great for our community and investment in our industry which is office space.' Overland Park's Finance, Administration and Economic Development Committee will discuss the project Wednesday. If approved developers estimate they'd be building what's been deemed the Overland Park Plaza II Redevelopment Project in phases all the way until the year 2038. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
OP committee approves rebate for Fortune 500 company's ‘Project Turtle'
OVERLAND PARK, Kan. — An Overland Park campus recently rumored to be a potential new home for the Kansas City Royals will likely be getting a Fortune 500 company instead. Details of 'Project Turtle' were discussed publicly for the first time Wednesday during Overland Park's Finance, Administration and Economic Development Committee meeting. Overland Park's Mayor calls it the city's biggest project to create jobs in the past two decades. Since Sprint sold its campus at 115th and Nall in 2019, when many jobs moved out and then the pandemic, there have been questions about whether the massive office space center would get another new major tenant. Kansas City tow company hit with new charges in Platte County: records Behind the scenes, the same attorney who helped connect Panasonic with De Soto, Kansas, had been working on the slow-moving relocation dubbed 'Project Turtle.' Looking for what was described during Wednesday's meeting as new regional operations hub for a Fortune 500 company, Alex Leath said the company didn't initially have the Kansas City area on its considered Phoenix, Dallas, Atlanta and Nashville, and South Florida, but wanted to relocate to somewhere it wouldn't face resistance of workers going into the office. 'What I do see is the people, the quality of the people, the work ethic of the people,' Leath, an attorney with Bradley Arant, told the committee. The committee was asked to approve a property tax rebate expected to be worth about $1.3 million over 10 years of the proposed 15-year lease. In return, the Fortune 500 company promises 2,000 jobs with an average annual salary of $125,000. It would lease 420 thousand square feet of the Aspiria campus and commit to a $125 million capital improvement project of two of the buildings. 'If this is a company we want to attract to our community, if we want these good jobs, if we want to prevent the Aspiria campus from being blighted, this partnership is really necessary to bring this opportunity,' Councilwoman Melissa Cheatham said. Kansas court declines to rule on constitutionality of death penalty but finds defects Asked what the proposed lease meant for the prospects of trying to entice the Royals to also come to town, Mayor Curt Skoog remained concentrated on the pending project. 'Overland Park, we are an office town, and we are always excited to announce bringing in new employers to help our residents and region to have high-quality jobs. That's what we are continuing to do,' Mayor Skoog said. The agenda item needs full Council approval on Monday. Project Turtle would then also work to finalize an incentive package with the Kansas Department of Commerce before signing a lease and announcing the company behind the project. The tax rebate only applies to Overland Park, which gets about 40% of property tax revenues. The Blue Valley School District and Johnson County Community College would still get their full share of property taxes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
