CASE STUDY: Ward Parkway

Kansas City, Missouri

We became one of the first developers to “de-mall” a regional mall when we acquired and redeveloped Ward Parkway in Kansas City, Missouri in 1998.  We tore down most of the roof and reoriented many of the retail spaces to breathe new life into this 40 year-old center.

The Opportunity

Originally built in 1959, Ward Parkway served Kansas City’s most affluent area and was once considered a state-of-the-art retail destination – boasting 813,000 square feet of retail on two levels.  Its anchor tenants included powerhouse retailers such as Dillard’s, Montgomery Wards and JC Penney.  It also featured AMC’s first multi-screen movie theatre, a historic milestone for the motion picture industry.  But by the 1980s, it had fallen out of favor with shoppers.  Not even a $31.5 million renovation by a previous owner in 1989 could stop the departure of major anchor tenants.  Occupancy had fallen to 73 percent by the mid 1990s and more closings were on the horizon.

The Vision

We put aside old renovation formulas and went to the source of retailer and shopper desires.  We knew that the community wanted an open-air environment and the new big box retailers that were emerging throughout the suburbs.  We moved quickly to devise and implement a two-phase redevelopment.  The first phase included major construction to remove large sections of the roof.  It also included reorientation of retail space and the creation of a lifestyle environment.  The second phase called for a massive remerchandising.

The Challenges

Our biggest challenge was to attract retailers to a center where others had failed and to convince shoppers that Ward Parkway was once again a premiere destination.  We leveraged our strong retail relationships to bring in Target, Dick’s Spring Goods, TJ Maxx, Pier 1 Imports, Starbucks and Baja Fresh. 

The Result

The new line-up increased sales by 82 percent and occupancy rates climbed above 90 percent.  Retailers and shoppers alike embraced the new Ward Parkway.  Norma Boyd, a 50-year resident of the area, spoke to the Kansas City Star about why she returned to the center after years of shopping elsewhere.  “I came to see why all these cars are parked out here,” she said, “My friends and I have missed shopping here.”