{"id":1004139601,"date":"2016-03-17T00:37:21","date_gmt":"2016-03-17T08:37:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004139601"},"modified":"2020-05-19T00:38:47","modified_gmt":"2020-05-19T08:38:47","slug":"cerners-4-5b-kansas-city-campus-reaches-new-milestone","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cerners-4-5b-kansas-city-campus-reaches-new-milestone\/","title":{"rendered":"Cerner’s $4.5B Kansas City Campus Reaches New Milestone"},"content":{"rendered":"

By Gail Kalinoski<\/em><\/p>\n

\"Rendering<\/a>

Rendering of Cerner’s Kansas City office park<\/p><\/div>\n

Kansas City, Mo.<\/strong>\u2014Construction of the first two buildings in Cerner Corp.<\/a>\u2019s new $4.5 billion campus in south Kansas City\u2014the largest economic development project and office park in Missouri\u2014are nearing completion in the initial phase of a project that will take 10 years and add more than 16,000 jobs by 2025.<\/p>\n

Cerner, a global supplier of health care technology solutions, services, devices and hardware, announced in August 2013<\/a> that it would purchase approximately 237 acres on the site of the former Bannister Mall to accommodate its growth. The development area\u2014bounded by 87th<\/sup> and 95th<\/sup> streets, Interstate 435 and the railway on the east\u2014will eventually include 290 acres and encompass more than 4.7 million square feet of space. That will include 4.3 million square feet in 10 office buildings, a data center, a training\/conference center and other amenities like on-site daycare and a health clinic. Known as the Trails Campus, it will also have 370,000 square feet of retail space for restaurants, retail stores and a hotel.<\/p>\n

The health IT giant broke ground for the first of 16 phases in November 2014. Officials are expected to gather on March 18 for a topping ceremony for an 11-story, 500,000-square-foot tower. Construction is also continuing on the second building, an eight-story, 305,000-square-foot structure that will have a fitness center, clinic and training space on the lower levels and six floors of offices, according to the Kansas City Business Journal<\/a>. Both buildings are slated for completion by the end of the year.<\/p>\n

\u201cCerner\u2019s investment in the Kansas City community is one of the great stories of this home-grown technology corporation,\u201d Mayor Sly James said in a prepared statement. \u201cSoutheast Kansas City, and especially students in the Hickman Mills School District, will see the benefits of this massive project for decades to come.\u201d<\/p>\n

The project includes an investment of $2.7 billion of private funds, according to Cerner.<\/p>\n

Last week, the Kansas City Tax Increment Financing Commission<\/a> (TIF) approved a development agreement that calls for Cerner to contribute $2 million to a neighborhood improvement and infrastructure plan and $6 million to a Hickman Mills Education, Professional Studies and Innovation Program.<\/p>\n

\u201cThis is the largest single high quality jobs initiative every associated with a Kansas City, Missouri, redevelopment project,\u201d said TIF Commission Chair Cindy Circo. \u201cIt is transformative for our south Kansas City, Missouri, residents and community.\u201d<\/p>\n

The Kansas City Star<\/a> reported the agreement approved last week also provides Cerner reimbursement of about $1.1 billion in TIF revenue and what is known as super TIF revenue. The corporation is also getting about $654 million in tax abatement from the state of Missouri. In all, it should receive $1.7 billion in reimbursable project costs because the redevelopment area is considered blighted, the newspaper wrote.<\/p>\n

The city\u2019s TIF Commission noted the redevelopment area was assessed in 2013 at about $3.8 million, which generates about $400,000 in annual real property taxes that will continue to be paid. Once the development is completed, the value is expected to increase to more than $219 million and generate about $3 million in annual real property taxes.<\/p>\n

Cerner estimates the new campus development, including about 4,500 construction jobs, will create at a minimum, a $4 billion economic impact to the area.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The first phase of Missouri’s largest economic development project is nearing completion.<\/p>\n","protected":false},"author":1068,"featured_media":1004139602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21783,1592,13,21752,21742,21747],"tags":[],"class_list":["post-1004139601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-investment","category-kansas-city","category-midwest","category-mixed-use","category-latest","category-office"],"acf":[],"yoast_head":"\nCerner's $4.5B Kansas City Campus Reaches New Milestone - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cerners-4-5b-kansas-city-campus-reaches-new-milestone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cerner's $4.5B Kansas City Campus Reaches New Milestone\" \/>\n<meta property=\"og:description\" content=\"The first phase of Missouri's largest economic development project is nearing completion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cerners-4-5b-kansas-city-campus-reaches-new-milestone\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-17T08:37:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T08:38:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/front-shot-e1458672199350.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"572\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cerners-4-5b-kansas-city-campus-reaches-new-milestone\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cerners-4-5b-kansas-city-campus-reaches-new-milestone\/\",\"name\":\"Cerner's $4.5B Kansas City Campus Reaches New Milestone - 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