FOR IMMEDIATE RELEASE: Aug. 25, 2017
The City of Kansas City on Friday completed the sale of Kemper Arena to FBKC Sports Arena, LLC, an affiliate of Foutch Brothers, a redevelopment team planning to convert the arena into an amateur sports center that is expected to spark redevelopment across the West Bottoms neighborhood.
While the arena was sold to FBKC for just $1, the sale saves the city more than $1 million a year in maintenance for the building, as well as an estimated $10 million cost if the arena had been demolished.
Kemper Arena will be renamed Mosaic Arena as part of the redevelopment project, which also includes a health clinic that will open to the public.
“This is the last step to bring the Mosaic sports complex to Kansas City and save taxpayers money at the same time,” said Councilman Scott Taylor. “This is an exciting development for the West Bottoms and Kansas City.”
The City was able to close the sale after the American Royal agreed to alter terms of its long-term lease, which will consolidate American Royal events into Hale Arena and other parts of the complex.
“While it has taken several years to get to this point, the City insisted on a deal that benefited city taxpayers and eliminated concerns about the American Royal lease,” said City Manager Troy Schulte. “City staff from multiple departments put in long hours to work out the details of this plan, and I’m proud of their efforts.”
The sale includes the arena and the north parking lot, a total of approximately 10 acres. The City retains ownership of the rest of the complex.
For more information, please contact City Communications Director Chris Hernandez, 816-513-3474 or City Councilman Scott Taylor, 816-835-7041.