Wichita plans to commit 500 city-owned parking spaces downtown to a developer that wants to open a medical school, culinary arts school, student housing facility and hotel in the heart of the city.
The plans are included in a memorandum of understanding approved by the Wichita City Council on Tuesday. The agreement is between the city and Sudha Tokala’s Douglas Market Development LLC. It’s an unofficial agreement that outlines expected development and incentives and can be changed at any time. So far, it provides the most detailed sketch of the project that has been made public.
The four buildings that Tokala plans to renovate are vacant. Jason Gregory, executive vice president of Downtown Wichita, said the development will be “catalytic.”
“This substantial investment as well as the potential for significant job creation is a win-win for both downtown and our community,” Gregory said. “This is another key project that can further the implementation of Project Downtown.”
(Read more: Local News |)