KSHB 41 reporter Rachel Henderson covers neighborhoods in Wyandotte and Leavenworth counties. A viewer asked us a question about the impact on real estate values in the area surrounding the proposed stadium. Our report is below. Share your story idea with Rachel.
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The Kansas City Chiefs' move to Wyandotte County is sparking questions about real estate impacts, with residents and industry professionals offering mixed perspectives on whether the effects will be positive or negative.
The Village West area in KCK looks dramatically different than it did a couple of decades ago after millions of dollars in improvements turned the area into a destination spot.
Now, as the Chiefs plan to relocate to Kansas, Wyandotte County residents are scrutinizing the details of the proposed deal.
Scott Harding, a Wyandotte County resident who founded the Wyandotte County Property Tax Protesters on Facebook, has been closely following the team's planned move.
He expressed concerns about the preliminary agreement between the Chiefs and the state.
"We thought the Chiefs stadium would be great, but we did see the 33-page agreement, and that just blew us away," Harding said.
The deal outlines a preliminary STAR bond district plan.
STAR bonds use new sales tax revenue to repay bonds used to build the district, with the Kansas Speedway serving as one of the most well-known and successful examples of this financing method.
However, Harding questions the effectiveness of such projects for local taxpayers and believes changes are needed in local governance.
"We're really thinking that we need to do something different on the city side and the county side," Harding said. "We think there should be some adjustments where we get a percentage of their taxes from all their sales."
Harding points to past STAR bond projects that were not successful as cause for concern.
"Some of them have failed," he said. "The taxpayer's really not seeing any benefit."
Harding argues that rather than helping residents, these developments have had the opposite effect.
"We haven't seen any benefits at all. It should lower taxes," Harding said. "The STAR bond thing for us is not a good thing."
Harding said property tax increases have been particularly problematic for longtime residents.
"Actually, it's running people out because their taxes are going up,” Harding said. “They say, 'The NASCAR track came in, so your property value increased.’”
The conversation took place near the American Royal development, a separate STAR bond project that has experienced funding delays to build the facility.
An American Royal spokesperson provided an update Tuesday afternoon:
“The DA amendment was approved at the 12/4 Full Commission meeting and the American Royal and the UG are now working on bond documents. We expect to be on the January 29th UG agenda for the approval of the bond documents. That will then lead to the bond sales, which should lead to construction starting again in the spring.”
Harding referenced the ongoing impact of past relocations in the area after the Speedway was built.
"They're still talking about it today, the people that had to move," Harding said.
Real estate agent Bradley Brooker offers a more optimistic view of the proposed development.
He is currently selling a home in Edwardsville that sits on nearly 20 acres, not far from the Village West area.
More information about the listing, which goes live Thursday, can be found here.
"I feel like the move is a good one," Brooker said. "I love the idea of just making a destination out of it."
Brooker conducted research on similar stadium developments — including U.S. Bank Stadium in Minnesota, Mercedes-Benz Stadium in Atlanta and SoFi Stadium in Inglewood, California — to better understand potential impacts.
He believes nearby property owners could see significant benefits from the proximity to new development.
"The buyer's just going to be at the beginning stages of the value of their property increasing,” Brooker said. “The seller is going to benefit from the fact that it's a great thing happening close to where they live.”
Brooker anticipates changes in land use regulations as development progresses.
"I gotta think that rezoning's going to be a thing that's going to happen a lot in the surrounding areas," Brooker said. "I think rezoning is going to be fast and furious in the upcoming years."
He sees potential for property owners to capitalize on the development in various ways, including using their property as an Airbnb.
"Depending on what they choose to do, what they want the property for, could see a lot of potential increase in their value, depending on how they handle it," Brooker said.
Brooker believes the key to success lies in comprehensive development, drawing parallels to the Kansas Speedway.
"I think the catalyst for the Speedway doing well is the extra development," Brooker said. "My expectations would be there's going to be a lot more development."
While acknowledging that property taxes may increase alongside property values, Brooker views this as a natural consequence.
"Percentage-wise, as your property increases, you certainly are going to see a little increase in your taxes, but that would be expected anyway," Brooker said.
Despite concerns from residents like Harding, Brooker remains optimistic about the project's potential.
"I think they're going to have an amazing area, and I can't see any reason why it wouldn't work like they think it's going to work," Brooker said.
Christal Watson, recently elected mayor of the Unified Government, told KSHB 41’s Megan Abundis that no final agreements have been made locally regarding the Chiefs' potential relocation.
Regardless of the ultimate outcome, both residents and real estate professionals agree on one fundamental aspect of the situation.
"It's all about money," Harding said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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