The decade-stalled project at Shawnee Mission Parkway and Johnson Drive could move forward as early as spring.
The Mission City Council on Wednesday unanimously approved a non-binding memorandum of understanding for the $162 million mixed-use project. The first phase includes constructing 168 market-rate apartments and 50,000 square feet of commercial and restaurant uses beneath the apartments, which is outlined in the memorandum.
Mission Mayor Steve Schowengerdt said the council is “very much encouraged.”
The final two project phases outlined in the agreement include a three-level garage, 200-room Aloft and Element hotel, and 110,000 square feet of commercial and retail space, which replaces the previous anchor tenant, Walmart.
Valenti still needs approval for a final site plan, building permits and tax incentives for Phase 2 and Phase 3 of the project. Valenti said his goal is to start construction on Phase 1 in March.