Ingram's July 2026

IN THE NEWS

Tidbits of Business News from Around the Region

Credit Union Seizure The National Credit Union Admin istration has placed Kansas City-based WeDevelopment Federal Credit Union into conservatorship, citing unsafe and unsound practices. The federal regulator assumed operational control July 10 while keeping the institution open and member services uninterrupted. WeDevelopment reported about $2.63 million in assets in its most recent regulatory filing, making it one of the market’s smallest financial institutions. Member deposits remain protected by the National Credit Union Share Insurance Fund while the NCUA works to address the operational problems that prompted the intervention. Hotel Plan Emerges Developers have unveiled plans for The Novelist, an $27.3 million boutique hotel proposed near Third and Green streets in downtown Lee’s Summit. The project would include 84 guest rooms and a high-end restaurant adjacent to the city’s Green Street public space and City Hall. Lane4 Property Group is working with Mississippi-based hotel developer and operator The Thrash Group on the proposal, with design work by Dale Partners Architects. Supporters say the hotel could increase overnight tourism and direct more customers to downtown shops, restaurants and events. More Data Center Objections A Miami developer is seeking city approval for a 20-story data center at 10th and Central streets in Kansas City’s historic Quality Hill neighborhood. The approximately 384-foot structure would replace or incorporate the historic Western Newspaper Union Building and rank among the nation’s more unusual vertical data-center proposals. Residents and preservation groups, however, are challenging the project, citing questions about architectural compatibility, power demand, noise and the appropriateness of industrial-scale digital infrastructure in a residential historic district. City planners will hold a public hearing Aug. 5 to consider the proposal.

KC as Materials Hub? A Kansas City-led coalition is pursuing a National Science Foundation award that could provide as much as $160 million to expand the region’s role in critical materials technology and manufacturing. UMKC’s Critical Materials Crossroads Engine would lead the multi-state initia tive, which focuses on materials needed for advanced batteries, electronics, defense systems and other strategic industries. Organizers project that the effort could help create 10,000 jobs and produce up to $40 billion in economic activity over the next decade, although the full award and resulting private investment remain prospective. KANSAS DOUGLAS COUNTY KU Housing Plan A major step toward completing the “live, work, play” vision for KU’s West Campus development, called The Crossing, is underway. A group led by Block Real Estate Services has filed for economic development incentives to build a more than $100 million multi-family housing complex with 341 residential units. The Crossing already features a thriving work environment with KU School of Pharmacy, Kansas Geological Survey, and startup incubators, plus recent “play” additions including a new Dillons grocery store and synthetic turf athletic fields. The new housing project aims to add the missing residential component near Clinton Parkway and Iowa Street. Kansas regulators have closed Small Business Bank in Lenexa and appointed the Federal Deposit Insurance Corp. as receiver after the institution failed to meet capital requirements. Farmers State Bank of Oakley agreed to assume substantially all deposits and acquire certain assets, with the Lenexa office reopening July 20 under the Farmers State name. Small Business Bank reported approximately JOHNSON COUNTY Lenexa Bank Shut Down

$73 million in assets and $69 million in deposits as of March 31. The FDIC initially estimated that the failure would cost its Deposit Insurance Fund about $5.7 million.

SHAWNEE COUNTY Rental Registry in Play

After similar measures were adopted in Wichita, Kansas City and Overland Park, officials in Topeka are assessing the need for a landlord registry program aimed at improved housing safety in prop erties with at least five units. Landlords have already objected to the potential cost impact, noting that the program would require tiered fees and inspection cycles that vary based on each property’s compli ance record. The City Council is expected to discuss the measure later this summer. WYANDOTTE COUNTY Chiefs Turn to Burns & Mac Burns & McDonnell will team with CAA ICON to serve as the Chiefs’ adviser for development of the team’s new stadium near Village West, plus its $300 million campus in Olathe to house both business and football operations. The Olathe head quarters and practice facilities will sit on 155 acres at the northwest corner of College Boulevard and Ridgeview Road, south of Kansas Highway 10. The $4.5 billion stadium is set to open ahead of the 2031 football season. The team said more announcements about the new practice facility and headquarters in Olathe are expected in the coming weeks. Baseball Complex on Market Homefield LLC has placed its eight-field baseball complex in western Kansas City, Kan., on the market for $9.52 million. The professional-grade turf complex, located at 1501 N. 90th St., was among the first major components completed within Homefield’s broader $838 million sports and entertain ment development. The property attracted more than 900,000 visits in 2025, accord ing to the developer. Homefield says proceeds from a sale would be reinvested into later stages of the master plan rather than signal a retreat from the project.

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I ng r am ’ s

July 2026

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