The tower at southwest Topeka’s former Villa West Shopping Center will be torn down as part of a redevelopment project aimed at helping that center get a fresh start and shed the notoriety of its past, which includes having deteriorated while being owned by developer Kent Lindemuth, Topeka’s governing body learned Tuesday evening.
The demolition will be part of an $18 million project Overland Park-based 29th Street Partners, LLC, plans to carry out in multiple phases to redevelop the property on 14 acres at the northwest corner of S.W. 29th and Wanamaker Road while renaming it “Sherwood Crossing,” said Ferd Niemann IV, that company’s director of development.
Topeka governing body members voted 9-1 late Tuesday to establish a tax-increment financing district to potentially benefit the proposed project. Councilman Tony Emerson cast the lone dissenting vote while questioning whether Tuesday’s move was consistent with the policy the city has in place regarding TIF districts.
Topeka’s governing body is expected to later considering entering into a redevelopment agreement with 29th Street Partners, which would help enable it to offset costs for its planned project to redevelop the shopping center. The move would come at no financial risk to Topeka’s city government, said deputy city manager Doug Gerber.
Kansas law allows government entities to create TIF districts in blighted, aging or underperforming areas at the request of developers, who pay off costs over a period of up to 20 years using the increase in property tax and sales tax revenues from the properties involved.
The Sherwood Crossing property is blighted, according to a study conducted by Kansas City, Mo.-based Sterrett Urban LLC.
Governing body members also voted 10-0 Tuesday to schedule an April 16 public hearing in which they will consider establishing a community improvement district, which would enable Fort Wayne, Ind.-based EIG Wanamaker, LLC, to levy a 1 percent sales tax upon customers in addition to the sales taxes they already pay.
The revenue from the CID would help the company finance its proposed $31.4 million project to redevelop property, which includes a former Kmart, at the southeast corner of S.W. 17th and Wanamaker Road.