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Council grants one-year extension to Oxford Promenade preliminary plan amid financing uncertainty
Summary
The council approved a one-year extension for the Oxford Promenade preliminary site plan and preliminary plat, citing construction and financing headwinds; the vote was unanimous (8-0).
The Leawood Governing Body voted 8-0 April 7 to extend by one year the validity of the previously approved preliminary site plan and preliminary plat for the Oxford Promenade development at the southwest corner of 135th Street and Mission Road.
Greg Musil, representing the developer, told the council construction costs and financing difficulties over the past two years have made it hard to finalize a plan that can be financed. "Cost of construction or cost of financing... have made it difficult," Musil said, asking for a one-year extension to allow the ownership time to rework plans and pursue tenants.
Planning staff told the council the Leawood Development Ordinance permits a one-year extension for preliminary development plans when no final development plan has been filed within the initial two-year validity period. The requested extension does not change underlying approvals; it preserves the previously approved preliminary plan and plat for another 12 months to allow the developer to submit a final development plan.
Council members encouraged the developer to reconsider project composition in light of market preferences and financing constraints. Council Member Harrison urged the developer to "reimagine this space," suggesting fewer multifamily units and more product types that could sell more readily. Musil said ownership is exploring revisions and will return with any changes to the preliminary development plan for planning commission and governing body review.
The governing body approved the extension by roll call. The motion carried on an 8-0 vote.
