Phase I of the four-phased, $71 million VanTrust Industrial Project will soon break ground at New Century Commerce Center in New Century, Kansas. The Johnson County Board of County Commissioners (BOCC) recently partnered with VanTrust Real Estate as the master developer and gave their go ahead on the preliminary development plan. According to Ed Eliert, the Johnson County Board of County Commissioners Chairman, the private/public partnership has been in the works for several years, but has now taken the final step towards bringing economic development to southwest Johnson County.
The new VanTrust Industrial Project will be developed on a 150 acre site, located on the Southwest corner of 159th Street and Highway 56. This project will be a major part of the planned 845-acre New Century Business Park, which surrounds the New Century AirCenter. The changes in zoning from rural to PEC-LP (Planned Employment Center – Logistics Park District) on the property which were implemented by the BOCC, also gives VanTrust the opportunity to handle design and construction work on about $15 million worth of public infrastructure. These infrastructural developments will include improvements to streets, water, wastewater systems and dry utilities, which will support the new economic industrial development project and also benefit both the New Century Commerce Center and surrounding areas.
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The VanTrust Industrial Project will be built as a multi-modal industrial park intended to cater for warehousing, logistics and manufacturing industries. Phase I will cover the construction of four buildings, of which two have already been designed by VanTrust. One building is a 330,000-square-foot, built-for-suit structure, and the other is a 750,000-square-foot speculative building.
VanTrust Industrial Project to bring 4,706 permanent jobs and 3,557 construction jobs in 16 years
According to Rich Muller, the Executive VP of Vantrust Real Estate, all structures from the VanTrust Industrial Project will be built in close proximity to Interstate 35, the BNSF Railway and also have direct access to domestic air transport through the New Century AirCenter; and this makes it a prime location with efficient transit accessibility. This development is expected to create up to 4,706 permanent employment opportunities and about 3,557 construction jobs over a period of 16 years. Based on the agreement terms for the project, $287.4 million in private investment will be made for lease payments, over a 10-year period which will boost the Johnson County Airport Commission’s budget.
