Wichita City Council will be revisiting a 4-year-old deal to develop land around Riverfront Stadium next week.
The city sold the land for $1/acre to be developed. That agreement will return before the council for the initial developer to sell it back.
The city entered into an agreement with Wichita Riverfront LP (WRLP) in 2019. EPC Estate Group joined in 2022. Under the latest deal, WRLP will sell the land back to the city, which will then sell it to EPC.
The location calls for a hotel along the river and across the street, retail, and a parking garage (which the city will eventually purchase). Apartment development is now included in the most recent agreement, with development yet to begin.
Tax increment Financing (TIF) for public use portions will now raise from $8.6 to $11.3 million dollars.
