Long-Term Economic Impact of KC Current Stadium Estimated at $1.24B
Published July 22nd, 2022 at 11:30 AM
By Kevin Collison
The planned KC Current women’s soccer stadium on the riverfront is anticipated to generate a $48.8 million annual economic impact to the city by 2025 and prompt construction of 500 more apartments, according to a consultant report.
The study prepared by Victus Advisors, a national sports market research firm, was presented to the Missouri Development Finance Board earlier this week as part of the KC Current’s application for $6 million in state tax credits to help finance the stadium.
Over a 30-year period, the planned 11,500-seat stadium near Berkley Riverfront Park, along with the anticipated spinoff development, is projected to have an $897 million economic impact to the city and an additional $343 million to the state for a total of $1.24 billion.
The new stadium is expected to be a big draw on the downtown riverfront.
“This study helps illustrate why we are so excited about the future of this club and the positive financial impact this new stadium will bring to the Kansas City region,” KC Current owner Angie Long said in a statement.
“Our project will generate new jobs, spark new spending that will benefit the entire community, and attract fans and visitors from outside the region.”
While the stadium currently has a $117 million price tag, the consultant report estimated there would be $134 million in gross construction spending for the privately-built project. That includes soft costs for design and engineering.
The architect is Generator Studios. The construction partners are J.E. Dunn and Monarch Build.
The stadium, which is expected to open in 2024, is projected to create 205 construction jobs. When its fully operational, it’s projected to create 925 full and part-time jobs averaging $48,397, according to the consultant.
The soccer stadium is planned for Parcel 8 near the riverfront. (Map from Port KC)
The stadium also is projected to generate $1.2 million in taxes annually to the city beginning in 2025 and $134,000 each year to Port KC, the landlord for the stadium development.
Over 30 years, the total new taxes to the city from both the stadium and anticipated spinoff development was estimated by the consultant at $21.3 million. Port KC was projected to gain $3.9 million in revenues during that period.
KC Current will have a 50-year lease on the 7.1-acre site with Port KC. The public agency has committed to provide 2,000 parking spaces for the facility.
The report also anticipates the stadium, which will not only feature professional women’s soccer games but concerts and other events, will attract more development to a riverfront that recently already has built or anticipates more than 1,000 apartments.
It projected a total of 500 apartments and 60,000 square-feet of retail and restaurant space would be built, adding 140 jobs to the area.
The stadium is expected to feature what’s called the Scoreboard Bar among its amenities. (Rendering by Generator Studio)
The planned stadium also will feature a restaurant and sports bar at its entrance, and a large bar and gathering space on its riverfront side. The stadium’s food and beverage establishments are expected to be open year-round to the public.
The new facility also will contribute to the maintenance and operation of the streetcar and Berkley Riverfront Park.
Current plans call for the streetcar riverfront extension to be completed in early 2025. In response to the new stadium plan, the streetcar riverfront route is expected to be extended farther east than originally planned.
The revised plan for the half-mile streetcar extension now brings the line to the middle of Berkley Park rather than its earlier planned terminus at its west side.
Streetcar officials estimate the change will bring the streetcar stop 800- to 1,000 feet–about the length of three soccer fields–closer to the new stadium.
Most importantly to the KC Current club, the stadium would be the first in the nation built specifically to house a franchise of the National Women’s Soccer League.
“This study reinforces the goals and dreams we have as we continue to make history and do something that’s never been done before, both in Kansas City and across the globe,” Long said in a statement.