Mead’s Cor­ner prop­erty to be mixed-use build­ing

The Wichita Eagle - - Front Page - BY CAR­RIE RENGERS crengers@wi­chi­taea­

TGC De­vel­op­ment Group, a part­ner in the Spaghetti Works project, has plans for an­other $20 mil­lion to $22 mil­lion build­ing down­town where Mead’s Cor­ner used to be at Dou­glas and Em­po­ria.

“There’s a tremen­dous amount of pent-up de­mand ready to come down­town,” TGC founder Nick Ester­line says.

He says the amount of pre­leas­ing at the new build­ing within the Spaghetti Works District “kind of gave us the thought that, gosh, there’s way more in­ter­est and ac­tiv­ity than we can fill at Spaghetti Works.”

Mead’s Cor­ner had al­ready closed when the op­por­tu­nity to pur­chase the prop­erty arose.

“We jumped on it,” Ester­line says. “We own a lot of con­tigu­ous prop­erty.”

The TGC of­fice is just north of there.

TGC will de­mol­ish the for­mer Mead’s space and use its park­ing lot to the west for the new build­ing.

Ester­line is not ready to dis­cuss po­ten­tial oc­cu­pants, but he says the four-story, 75,000-square­foot build­ing will be a mixed-use space for of­fice, re­tail and res­tau­rant use. There won’t be a res­i­den­tial com­po­nent.

“Log­i­cally, the up­per floors

are more of­fice or ser­vice use.”

TGC wants to es­tab­lish a com­mu­nity im­prove­ment district, which would al­low sales taxes from re­tail or res­tau­rant uses to pay for some in­fra­struc­ture and site work. The CID pro­posal will go be­fore the Wi­chita City Coun­cil on Tuesday.

In­dus­trial rev­enue bonds also are a pos­si­bil­ity for the project.

Ester­line says TGC bought the prop­erty a few months ago.

“We didn’t ac­quire this cor­ner with this plan in mind,” he says. “This has all come to­gether that quickly.”

Ester­line says there’s a nearby park­ing garage and a lot of sur­face park­ing in the area for po­ten­tial build­ing users.

“There’s a lot of park­ing stalls within a rock’s throw of that cor­ner.”

He says he doesn’t know how old the build­ing is, but Ester­line says, “I know it’s old enough that we are go­ing to the His­toric Preser­va­tion Board on the 13th.”

Con­struc­tion could start by mid-2019 “if all the stars align and things go the way we hope they’ll go.”

“That’s a pretty ag­gres­sive sched­ule, but I think we can make it work.”

Down­town has seen a ma­jor amount of new in­vest­ment and re­de­vel­op­ment in re­cent years, but Ester­line says there’s no dan­ger of over­build­ing at this point.

“I think we’re a long ways from that.”

He says a lot more is go­ing to hap­pen in the next five to 10 years.

“We’re just a small piece of the puz­zle,” Ester­line says.

“I think this is only the be­gin­ning.”

Cour­tesy photo

TGC De­vel­op­ment Group is re­de­vel­op­ing the for­mer Mead’s Cor­ner prop­erty into a four-story, 75,000-square-foot mixed-use com­mer­cial build­ing.

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