The transformation away from a primarily bedroom community increases sales taxes; Therefore, creating a more sustainable and diversified economic model for University City.
This economic development strategy implemented by city officials is led by Seneca Commercial Real Estate and Clayco. Approximately 50 acres along the north and south sides of Olive Boulevard from I-170 to Woodson/McKnight will become a commercial corridor.
The first phase of the Markets at Olive included developing a 160,430-sq.ft. Costco Wholesale store to be its anchor store. The big-box retailer was completed in September 2022 and opened in late October 2022. The addition of more retailers will soon follow the draw of Costco. Popular fast-food restaurants, Chick-fil-A and Raising Canes are currently up for zoning approval.
“The development team has many years of success in land development and bringing projects to fruition that enhance communities. The willingness of this group to invest in University City confirms we are a hot market. On behalf of the City Council we welcome the new ownership and look forward to working with them in building a development that adds value to our University City community.”
Terry Crow – U City Mayor