$1.5 Billion Wichita Riverfront project

[Candleshoe]

http://www.kake.com/story/41770923/comp ... skyscraper

A company called Penumbra International LLC announced its plans to invest $1.5 billion in Wichita's Riverfront.

The plan includes a LEGOLAND facility, a massive ferris wheel, a roller coaster, an international market, and much more.

It would also save Century II and turn it into an Air and Space Museum. The old library would become an aquarium, and developers would build a 40+ story hotel with 500 rooms.

"It's a mix of local and outside of Wichita. And again, it is committed. So it is not what if, it's a matter of getting the public's approval," said Brian McHughes, a spokesman for Penumbra International LLC.

The company says the investment is 100% privately funded, requiring no tax dollars, and says the funds are already in place.

[ita]

Thanks for the article. So the battle for best riverfront project in the Midwest is in full swing. Why can't we have a Ferris wheel, roller coaster, Legoland, and 40+story tower in our city's riverfront project? I am being sarcastic. Honestly, for a project with funding available the renderings appear to be really hokey, clearly cut and paste in Photoshop, as are the poster board presentations. If this this is happens, though, good on Wichita.

[strangerthings]

Thanks for the article. So the battle for best riverfront project in the Midwest is in full swing. Why can't we have a Ferris wheel, roller coaster, Legoland, and 40+story tower in our city's riverfront project? I am being sarcastic. Honestly, for a project with funding available the renderings appear to be really hokey, clearly cut and paste in Photoshop, as are the poster board presentations. If this this is happens, though, good on Wichita.

$1.5 billion is a bit steep for Wichita. KC just built Loews among others but probably has more demand for additonal urban hotels then Witchita. KC Business Journal just reported that the Country Club Plaza area hotels were 75%-80% full in mid-winter last year. Those are strong occupancy rates during the lowest traffic period of one of the worst winters. The demand for this in Witchita cant be there. This project will only ever come to fruition with significant local and state inventives (STAR Bonds).

This developer must be hoping that the STAR program isn't reigned in before they have a chance to get some of those sweet state monies. Now that Joco has built every conceivable "tourist attraction" it appears the program is beginning to collapse. Who would of thought that $billions worth of questionable suburban mega projects wouldn't pan out financially in the long run.

[Cermak]

I’ve always thought Wichita had a rather weak skyline. To me Omaha’s skyline is quite a bit better. The city of Wichita I find to be overall reasonably attractive and pleasant, but it’s skyline just never did much for me, Overland Park has the best skyline in Kansas. I doubt the hotel stays at 40, even if they can build a 30 story tower that would be a huge help to downtown. Hope it all works out.