Walmart has renewed a lease on its Roeland Park store while the fate of its proposed move to the Mission Gateway project is still in limbo.
The city has been told that Walmart recently extended its lease on the building in the Roeland Park Shopping Center along Roe Blvd. for another five years to end in November 2021. The renewal of the lease, but not the time period, was confirmed through Walmart.
That does not necessarily mean that Walmart would remain at the Roe site for the entire five-year period of the lease. If Walmart does build a new store at the Gateway or another nearby spot, it could sublease the property or make dual lease payments for a time.
The Gateway project, which includes a 155,000 square foot Walmart, has received preliminary site plan approval. The developer has not filed an expected request for financial incentives as yet.
Roeland Park City Administrator Keith Moody pointed out that the city has a Community Improvement District at the Roeland Park Center that imposes a one percent sales tax in the district to be used for redevelopment.
A development agreement signed in 2012 is designed to help pay some of the costs of redeveloping the center in the anticipation that Walmart will leave the center. The agreement includes designs for partitioning the Walmart store into three retail parcels ranging from 30,000 square feet to more than 44,000 square feet. It also anticipates adding two new buildings to the smaller shops, upgrading the buildings facades and other improvements.
The property is still listed for lease on a local real estate site.