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Monday, October 1, 2018
Block, Sprint reach agreement on sale of property for OP project

  
By   – Editor, Kansas City Business Journal
Oct 1, 2018, 3:19pm EDT

Developer Ken Block said a disagreement with Sprint Corp. that briefly spilled into court has been settled, putting plans for a new mixed-use project back on track.

Block, CEO of Block Real Estate Services LLC, told the Kansas City Business Journal that a group he leads has closed on the purchase of property for the proposed Galleria 115 project. A Sprint spokeswoman confirmed the sale.

The developer filed a petition in Johnson County District Court last month to extend a deadline for closing on the purchase of the property at the northwest corner of 115th Street and Nall Avenue.

Block said the snag in the purchase involved restrictions Sprint had placed on the types of uses that would be allowed for the space. Those limitations — to urgent care, freestanding emergency rooms, real estate brokerage offices, and mortgage and securities offices — would have made the planned retail portion of Galleria 115 unfeasible.

"We got clarity, everybody's happy, and we have closed on the land," Block said.

Plans for Galleria 115 include 276,000 square feet for retail, entertainment, office and commercial uses fronting Nall. The $252 million project also would include a residential portion with 548 apartments.

The Overland Park City Council is scheduled to consider a revised preliminary plan for the project at its Monday night meeting.

Block said he would like to begin work on the ground for both the residential and retail portions in the spring.

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