A new theme park featuring iconic toys such as Barbie and Hot Wheels is set to emerge in Kansas. The project, known as Mattel Adventure Park, has a significant funding package and is projected to cost $540 million. It is located in Wyandotte County, specifically in Bonner Springs, Kansas.
Funding and Incentives
In October, Bonner Springs officials approved a large tax incentive to facilitate the park’s development. Funding will primarily come from the Sales Tax Revenue Incentive program, commonly known as STAR bonds. This mechanism allows certain projects to be financed through future tax revenue generated by them.
- Total project cost: $540 million
- Bonner Springs’ commitment: $220 million
- STAR bonds allocation: $175 million
The area surrounding the theme park already boasts an entertainment district that includes shopping and sports venues. Interestingly, it may become the location for a new $3 billion stadium for the Kansas City Chiefs.
Community Impact
Mayor Tom Stephens expressed cautious optimism, highlighting that the project could attract thousands of visitors. He believes it will nearly double the taxable property value of the city, potentially providing significant property tax relief for residents.
Stephens anticipates that the entire development could yield an assessed value of $500 million, leading to a considerable increase in property tax revenue. The mayor stated, “The project would have not come to fruition had there not been incentives.”
Theme Park Features
Mattel Adventure Park is expected to include various attractions such as:
- Barbie Beach House for custom Barbie doll creations
- Hot Wheels rollercoaster
- Indoor rainforest
- Retail spaces and hotels
The developers estimate annual revenues of $190 million from this venture. Construction is projected to start in 2027, with an anticipated opening in 2031, aligning with the Chiefs’ new stadium inauguration.
Risks and Concerns
Despite the optimistic projections, experts caution about the risks associated with STAR bond projects. Zach Mohr, a public finance expert at the University of Kansas, pointed out that these developments tie up the state’s future tax revenue. The state currently supports multiple funded projects, increasing the debt burden.
Mohr also expressed concerns about the evolving retail landscape, whereby online sales might erode expected tax revenues. If many visitors purchase toys online, Kansas could miss out on significant tax income generated by the theme park.
| Project Aspect | Details |
|---|---|
| Location | Wyandotte County, Kansas |
| Estimated Annual Revenue | $190 million |
| Expected Completion | 2031 |
| Tax Incentives | STAR bonds worth $175 million |
As this project unfolds, Bonner Springs hopes to leverage the opportunities it presents while navigating the challenges associated with such large-scale developments.
