KANSAS CITY, Mo., June 29, 2009 — Westchester, Ill.-based Tri-land Properties, Inc. announced today that the city of Kansas City and T-L Brywood, LLC, the shopping center owner, have entered into a redevelopment agreement, which involves Tax Increment Financing and a Community Investment District, for its redevelopment of Brywood Centre, located at 63rd and Blue Ridge Cutoff in Kansas City. Tri-Land Vice President Hugh Robinson made the announcement.
“We are very excited to be moving forward with this redevelopment project,” said Robinson. “We have had a great relationship with the City and the two district council members, Terry Riley and Cindy Circo, throughout this process. We look forward to delivering a renewed, high-quality project to this great community.”
Tri-Land’s redevelopment of the 183,464-square-foot center includes a new building façade, expansion plans for the grocery store anchor and outlot availability along highly visible 63rd Street. The improved Brywood Centre will also include enhanced lighting features, new building and site signage, and significant landscaping upgrades.
Construction is scheduled to begin in July/August 2009.
Tri-Land Properties, Inc. owns and manages more than 2.8 million square feet of commercial retail space, located in the Midwest, Mid-Atlantic and Southeastern regions of the country. The Westchester, Ill-based firm is a full-service, real estate development/redevelopment company focused on successful acquisition, development, renovation and management of community centers ranging in size from 100,000 square feet to 750,000 square feet. Tri-Land specializes in transforming distressed and undervalued properties into dynamic commercial centers with increased value that generate steady consumer traffic and provide substantial investor returns.