WICHITA — Steve Clark and Johnny Stevens are preparing to develop another 4.3 acres at their Waterfront development at 13th and Webb.
“There are some people looking for space right now that want an unusual location,” Clark says. “There are a couple of major tenants.”
Clark’s son, Stephen Clark II, is managing the project, and he says those potential tenants – there are no signed deals yet – are the reason Clark and Stevens are looking to do the office building.
“There is some interest in the market that’s kind of sparked up recently,” Stephen Clark says. “People have been waiting so long to do something because of the economy.”
He says the economy isn’t necessarily that much better, but businesses can’t wait any longer.
“Some people are outgrowing their space or need to upgrade their space,” Stephen Clark says.
He says the existing office space at the Waterfront is full and that there has not been much new Class A office space that’s been built in Wichita in recent years. He says business owners “want a location that’s going to last many years, and I think we’ve established the Waterfront is that kind of location.”
“It costs the same to build the building somewhere else. You’re going to get better long-term residual value in a place like the Waterfront.”
Stephen Clark says the building will have “incredible identity from Webb Road.”
“It’s very visible from Webb Road, but it also enjoys the lake in the rear.”
The developers are adding a second fountain at the lake, which the office building will overlook with a patio and balcony.
Spangenberg Phillips Tice Architecture designed the building.
“It’s just going to be a very nice building,” Steve Clark says.
A second part of the project is a restaurant pad site that also will back up to the lake. The restaurant, which can be as large as 5,000 square feet, will be just north of Chester’s.
Stephen Clark, who says the restaurant will have one of the top patios in town, says he’s not talking with any potential tenants for the space yet.
There are a few other things in the works at the Waterfront, including another building near the 2-story office building, but the immediate focus is on that space. Construction likely will begin in the next three or fourth months, and the building will be ready in the first or second quarter of 2013.
Look for more information on the other projects in the coming weeks.