Financing has been approved for a colossal $16 million warehouse that will serve Newell Rubbermaid operations in Winfield, city clerk Diane Rosecrans said Wednesday.
City commissioners approved the issuance of industrial revenue bonds to fund the 660,000 square foot building that will have a 15-acre footprint. The building, thought to be the largest constructed in Kansas this year, will be located on 50 acres in southeast Winfield near the new Schwan’s facility.
The project is being undertaken by Illinois-based InSite Real Estate. InSite and Rubbermaid are responsible for repaying the bonds. InSite will buy 35 acres at the city-owned industrial park and acquire an additional 15 acres from private landowners.
The city held a public hearing on the issue before approving the bonds and a 10-year property tax exemption. Construction is expected to begin by year’s end. InSite officials expect the pre-engineered metal building to take six to seven months to construct.
The building will allow Rubbermaid to bring all of its storage in the area under one roof.
