Red Development Finishes Up $258M Legends

KANSAS CITY, KS-Construction and leasing are nearing completion at the 1.2 million sf Legends at Village West, a $258 million retail and hotel complex here. The property, which opened in April 2006, now has 94 stores in about one million sf, and should have all 110 dining, shopping and entertainment venues in place by the end of this year, says a spokeswoman.

Seven more tenants recently opened their doors at the Red Development-owned property, such as a 15,000-sf Forever 21 store, and has signed three new tenants that includes Lane Bryant. The completed portion of the property is 93% completed. The new openings also included Jazz: A Louisiana Kitchen, GNC, Whole Life Healing Center, Le Creuset, Culver’s, and Rack Room Shoes. Anchors include a Target, JC Penney and a T.J. Maxx, as well as a 14-screen theater. Rents at the center run about $30 per sf, triple net, according to company leasing agents.

What’s left, the spokeswoman says, is 200,000-sf left to build. This includes a 50,000-sf building that will open this summer on the west end of the property. The two-story building will have outdoor patios and rooftop decks, and will include Caliente Cuban Restaurant, Stanford & Son’s Comedy Club, Margarita Mama’s, Cantina #1 Corona and Hash House a Go-Go.

Also, the company is building two hotels on the site, both which will have 100-120 rooms each. “We haven’t announced what the concepts will be,” says the spokeswoman. “We’re finalizing the leases now. This would be our third hotel, we already have a 96-room Holiday Inn Express.” The hotels will be the last facilities built, and should be ready by Jan. 1., the spokeswoman says.

She says the amount of stores has been a big draw for customers. “The progress on the leases have gone extremely well,” the spokeswoman tells GlobeSt.com. “We have very little space left to lease, just about every space has a name assigned to it. We continue to add new stores all the time, it really creates an experience, each time a customer comes out they find something new.”