The Chiefs’ planned move to Kansas is already rippling through Wyandotte County’s real estate market, and not everyone is reacting the same way.
For some homeowners near the area where the new stadium could be built in Kansas City, Kansas, the first thing on their minds is cost. Jerry Clark, who lives less than 10 minutes away, said his immediate thought was simple: “Taxes,” he answered when asked what came to mind after hearing the Chiefs were moving down the road.
That concern is rooted in experience for neighbors like Clark and Brenda Deeter. The Chiefs and Wyandotte County have said the stadium would be partly financed through a Sales Tax and Revenue bond, or STAR bond. Deeter said that history makes people uneasy.
“In the past, we had STAR bonds with the race car and then with The Legends and our taxes still went up, and when I say go up, like $800 a year, go up,” said Deeter.
At the same time, commercial real estate agent Ben Hassine of Carthage Real Estate Group says the market is already reacting in a different way. He told FOX4 that one of his clients had a property listed for years, only to recently receive an offer above the asking price. Instead of selling right away, Hassine said the client pulled back to wait and see how values shift as the Chiefs’ expected 2031 move gets closer.
“The Legends itself, it’s, it’s an attraction point. Now, what’s going to happen with the new stadium is the demand, and the increase of demand and the increase of visitors and there I think a lot of people, they are reanalyzing the value on the asking price,” said Ben Hassine, Carthage Real Estate Group. “So now we are seeing a shift in the market to become a seller market rather than a buyer market.”
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