Sherman Dreiseszun

Sherman W. Dreiseszun
Born	(1922-05-23) 23 May 1922 Kansas City, Missouri, U.S.
Died	3 December 2007(2007-12-03) (aged 85)
Occupation(s)	Financier, real estate entrepreneur
Known for	Developing Kansas City's tallest skyscrapers and numerous retail centers in the Midwest

Sherman W. Dreiseszun (May 23, 1922 – December 3, 2007) was a prominent American financier and real estate entrepreneur, recognized for developing Kansas City's tallest skyscrapers as well as numerous retail centers throughout the Midwest.

Early life

Born in Kansas City's 18th and Vine Jazz District to Polish Jewish immigrant parents, Dreiseszun served as a crew member on a B-17 bomber during World War II. In 1946, he collaborated with his nephew Frank Morgan to establish Vic-Gene Manufacturing Inc., a company that supplied women's apparel to retailers in the Kansas City vicinity.

Shopping malls and banking empire

During the 1960s, their enterprise expanded into the development of shopping malls, beginning with the French Market located in Overland Park, Kansas. By 1964, they assumed control of the East Hills Mall project in St. Joseph, Missouri under the MD Management name. The Metcalf South Shopping Center, which opened in 1967, became the first major enclosed mall in Kansas City. Dreiseszun also founded a series of banks—including Mission Bank (Mission, Kansas), Metro North State Bank (Kansas City, Missouri), Valley View State Bank (Overland Park), Industrial State Bank (Kansas City, Kansas), Security Bank of Kansas City, and Merchants Bank (Kansas City)—which provided capital for their real estate ventures. Several projects were developed in collaboration with Copaken, White & Blitt.

Rebuilding the Kansas City skyline

In addition to suburban retail developments, Dreiseszun and Morgan played a pivotal role in reshaping Kansas City's downtown skyline by erecting its two tallest buildings: Town Pavilion (completed in 1986) and One Kansas City Place (finished in 1987). These towers surpassed the Kansas City Power and Light Building, which had held the title of tallest structure since 1931. Remarkably, One Kansas City Place rises twenty-one feet above the height of the Gateway Arch.

Both Dreiseszun and Morgan were featured on the Forbes list of wealthiest Americans in 1985 and again in 1991, each possessing assets valued at over $500 million.

Collapse

The onset of the Savings and loan crisis in the early 1990s dealt a severe blow to their financial holdings. They encountered allegations involving bid rigging connected to office leasing arrangements. Morgan passed away in 1993 while asserting his innocence. The FDIC prohibited Dreiseszun from participating in banking activities.

In 1996, Dreiseszun admitted guilt to misdemeanor offenses and was fined $375,000. Subsequently, he regained ownership of multiple banks through Valley View Financial Group.

Personal life

Dreiseszun married Irene Friedman in 1956; they had three children: Helene Dreiseszun Abrahams, Richard Dreiseszun, and Barbara Dreiseszun. He held the lifelong title of president at the Kehilath Israel Synagogue in Overland Park and was actively involved in Jewish charitable causes.

Shopping malls

• Buckingham Square Mall (currently known as The Gardens on Havana), Aurora, Colorado
• Crestview Hills Mall, Crestview Hills, Kentucky
• East Hills Mall, Saint Joseph, Missouri (1965)
• French Market, Overland Park, Kansas
• Metcalf South Shopping Center, Overland Park, Kansas (1967–2014)
• Metro North Mall, Kansas City, Missouri (1976–2014)
• Oak Park Mall, Overland Park, Kansas (1975)
• Southwyck Shopping Center, Toledo, Ohio (1972–2008; demolished 2009)
• West Main Mall, Kalamazoo, Michigan
• Westminster Mall, Denver, Colorado (1977–2011)