University of Kansas outlines $448 million "Gateway" development, seeks city and state financing tools

University of Kansas officials told the Douglas County Board of Commissioners on May 14 that the university's Gateway project is a $448,000,000 multi-phase development that pairs a renovated multiuse stadium and an 55,000-square-foot conference center with a hotel, student housing, retail and a programmed plaza.

The university's chief financial officer, Jeff DeWitt, described the plan and financing approach and said the stadium and conference center will be university-owned while private developers and donors will fund the hotel, apartments and other elements. "So here's here's what it will look like on August. It's it's it's a big deal. It's a $448,000,000 project with a 55,000 square foot conference center and a rent highly renovated Anderson Family Football Complex," DeWitt said.

DeWitt said phase 1 funding includes $248 million in donor/athletics debt and $85 million in state funds, and that the developer partner would pay for the hotel and the apartments in phase 2. He said the university is seeking economic development tools from the city and state 'STAR bonds, tax increment…