Development Finance Projects
Port KC has financed projects including Northland Park, Sioux Chief and Corrigan Station in order to promote development and encourage capital investment.
CVS Distribution Center
The CVS Distribution Center will support Midwest operations for CVS. It is a 750,000 square foot distribution-warehousing facility located in Kansas City, North. Port KC issued revenue bonds not to exceed $123 million in order to enable the acquisition, construction and improvement of the project.
With financing from Port KC, NorthPoint will construct 9 to 10 new industrial buildings. The buildings will be located in Northland Park, a 240 acre business park east of I-435 on MO Hwy 210. Improvements will include public sewers and roadways and 300 direct jobs through Phase 1 development. Under the authority of MO Chapter 68 (link), Port KC will issue revenue bonds not to exceed $250 million to finance the costs of this project, which will ultimately promote development within the port district and encourage private capital investment.
Sioux Chief, one of the country’s leading plumbing manufacturers, is relocating to CenterPoint Intermodal Facility in south Kansas City. The 570,000 square foot facility will be used for manufacturing, distribution, storage and administration of the business. Port KC issued a $23.5 million bond to finance the costs of acquisition, development, and construction of the project.
The historic Corrigan Station Office Building will undergo marked improvements with financing from Port KC, in an amount not to exceed $50,000,000. The 10 story Corrigan Station will be transformed into an office and retail space with adjacent parking. Port KC’s financing will go towards the rehabilitation, restoration, development and construction costs in order to enhance the economic success of the area.