Woodbury Corp. announced a $300 million plan to redevelop the Great Mall of the Great Plains site, in Olathe, Kan., as a mixed-use project called Mentum, comprising retail, restaurants, entertainment and offices, plus two hotels and 300 apartments.
Other entertainment-based anchors under consideration include an interactive golf center and a multiscreen cinema.
Woodbury’s private-equity arm has been active with several Kansas City–area projects in the past, including apartment and commercial properties, and the entity is also a partner in the development of The District, at the Lenexa (Kan.) City Center.
“We enjoyed building relationships with our Kansas City partners over the years, and we’re excited about this new opportunity to continue in the area,” said Josh Woodbury, vice president of acquisitions, in a prepared statement. “We feel that, when completed, Mentum will be a great amenity, not only for the local community of Olathe, but for the whole state of Kansas as well.”
The Salt Lake City–based developer says it is under contract to buy the 100-acre site, about 20 miles from downtown Kansas City. The Great Mall of the Great Plains, which Glimcher Realty Trust and Jordan Robert Perlmutter & Co. co-developed and which opened in 1997, was the largest outlet mall in Kansas. It closed in 2015.
Mentum (derived from the word "momentum") will feature a 4,000-seat arena and a community center for youth hockey. Operating both will be an affiliate of Loretto Sports Ventures, a company owned by Lamar Hunt, Jr., who runs the Kansas City Mavericks and Topeka Pilots hockey teams.
By Edmund Mander