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KANSAS CITY, Mo. \u2014 The Kansas City Royals and Hallmark, alongside state and local leaders, announced details Wednesday of a $3 billion mixed-use ballpark district<\/u><\/a> at Crown Center.<\/p>\n Wednesday\u2019s announcement from the American Restaurant in Crown Center included speeches, renderings and videos.<\/p>\n The hard work to turn those renderings into reality now begins.<\/p>\n KSHB<\/p>\n<\/div> When the Kansas City, Missouri, City Council approved a financing plan<\/u><\/a> for a stadium district in the Washington Square Park\/Crown Center area, officials were hopeful to complete the project in time for the 2030 MLB season.<\/p>\n Royals Chairman and CEO John Sherman said during the news conference the club plans to break ground on the project in 2027.<\/p>\n When asked Wednesday if 2030 was still possible, KCMO Mayor Quinton Lucas said that was still the target.<\/p>\n KSHB 41\u2019s Tod Palmer asked the same question to City Manager Mario Vasquez, who described the 2030 date as an \u201caggressive timeline.\u201d<\/p>\n RELATED |<\/b> Share your thoughts on new Royals Crown Center stadium plan<\/u><\/a><\/p>\n Officials said the overall mixed-use ballpark district will cost $3 billion, $1.9 billion of which will go toward the stadium.<\/p>\n John Sherman said the club and private investors would pay for 2\/3 of the overall cost.<\/p>\n The KCMO financing arrangement approved earlier this month provides up to $600 million in city-backed financing for the project.<\/p>\n The bulk of the remaining funds would likely come from bonds issued by the state of Missouri through the recently approved Show-Me Sports Investment Act<\/u><\/a>. The bonds would then be repaid by revenues generated in the district.<\/p>\nTimeline<\/b><\/h3>\n
Financing<\/b><\/h3>\n