Lenexa OKs plans to issue $14 million in bonds for senior living project near Cottonwood Canyon neighborhood 

The Lenexa City Council on Dec. 1 unanimously approved plans to issue up to $14 million in industrial revenue bonds for The Ridge Senior Living project, planned for the vacant plot of land near the Cottonwood Canyon neighborhood. Photo credit Andrea_44. Used under a Creative Commons license.

A new independent senior living project is coming to a vacant plot of land near the Cottonwood Canyon neighborhood in Lenexa.

The Lenexa City Council on Dec. 1 voted 7-0 to approve an intent to issue up to $14 million in industrial revenue bonds for The Ridge Senior Living. Councilmember Joe Karlin was absent.

Located on 11 acres at the northeast corner of Prairie Star Parkway and Ridgeview Road, the roughly $50 million development will comprise a roughly 247,000-square-foot independent senior living facility.

Located on 11 acres at the northeast corner of Prairie Star Parkway and Ridgeview Road, the roughly $50 million development will include a 247,000-square-foot independent senior living facility.

Sean McLaughlin, city attorney, noted that the bonds will be used for a sales tax exemption on the purchase of construction materials, equipment and furnishings for the project. The bonds are intended to help offset “the extraordinary site development costs” for the project, McLaughlin noted.

These include:

  • Relocation of a significant overhead power line.
  • Substantial grading due to topography that drops 50 feet from east to west resulting in multiple retaining walls.
  • Extensive rock excavation across the entire site due to the shallow rock formation in the area.

The project is located in the city’s Mining TIF District. However, McLaughlin noted that neither public financing, tax abatement or other incentives are requested with this project.