Analysis Prepared for New Retail and Entertainment Complex in the Kansas City Market

KANSAS CITY, Kan. - June 14, 2013 - PRLog -- Orlando, Fla. — Real Estate Research Consultants, Inc. (RERC), a GAI Company, was retained by the City of Mission, Kansas to prepare estimates of potential tax revenue available to support the development of The Gateway, a new retail and entertainment complex. Somewhat unique to the Kansas City market, the project combines big-box and in-line retail elements, restaurant and entertainment operators, as well as for-rent apartments in a multi-level mixed-use development.

On the site of the former Mission Mall, Cameron Group, LLC plans to construct approximately 410,000 square feet of retail and entertainment space along with 330 rental apartment units. Anchored by a Wal-Mart Supercenter, other announced tenants include Sprout’s Farmer’s Market and Toby Keith’s I Love This Bar & Grill restaurant. The project was approved by the City of Mission’s City Council in January 2013. Once private financing is secured by the developer, the City will issue bonds backed by sales and property taxes generated by the project. RERC was retained to estimate the revenue generated by these sources. Their report will be included in the bond’s offering statement for investor review. Construction on the complex is anticipated to begin later in 2013, with a completion date estimated between 18 to 24 months. This study updates and expands on work initiated by RERC for the City of Mission in 2012.

About Real Estate Research Consultants, Inc.: In its third decade of business operations, RERC supports clients throughout the United States with customized, innovative solutions, addressing a variety of complex, high-profile real estate and planning needs. Services include real estate development strategy, market, fiscal and economic analysis, public-private initiatives, community redevelopment, financial analysis, and strategic and master planning. The reputation of company and staff has become synonymous with creativity, credibility, honesty and integrity. For more information on RERC, visit www.rercinc.com.