The final pieces of a nearly two-year project to improve streets and build shopping centers at a busy south Lawrence intersection are falling into place.

Redevelopment at the Pine Ridge Plaza shopping center is nearly complete, as is street construction in the 31st and Iowa area. The new stores in the plaza, as well as other nearby stores and restaurants, are expected to draw many more people to the area.

Bed Bath & Beyond is one of three new stores in the former Kmart building at 31st and Iowa streets. Cost Plus World Market is expected to open in July in the building.

“We’re going to wait until everything is finished and then see what happens and probably go out and take a traffic count,” said Chuck Soules, Lawrence’s public works director.

Cost Plus World Market is expected to open in July in the former Kmart building. Cost Plus, which sells a variety of products from wines and spices to furniture and garden items, is the last of the new tenants lined up for the building.

“We think it is a great fit, especially for a college market,” said Jodie Belpedio, leasing agent for the property from Rubenstein Real Estate in Kansas City, Mo.

Other stores that have moved into the 100,000-square-foot building: Bed Bath & Beyond; Michaels, an arts and crafts store; and T.J. Maxx, a discount clothing store. Other Pine Ridge buildings are home to Kohl’s, Old Navy and Famous Footwear.

“We think we’ve really found the right mix,” Belpedio said. “We wanted to create a place where people could come to one development and hit multiple stores. There is a need for that in Lawrence.”

Pine Ridge attracted considerable attention among large retailers, Belpedio said.

“The demand is there,” she said. “Lawrence is just the right size of town. The income levels are good, and it is just a good market for retailers. National retailers now see it as an expansion of the Kansas City market. Lawrence is just the next step for a lot of those retailers that are in Kansas City now.”

Rubenstein purchased Pine Ridge in July 2002 from Malan Realty Investors Inc. for $13.85 million.

“I think it will be a big boost for the city,” Belpedio said of the plaza. “There will be four profitable stores out there, and that is the key. They should do a tremendous amount more in revenue than Kmart did.”

Nearly two years ago, the city began improving 31st Street west of Iowa Street along Pine Ridge’s northern border. The street was remade into four lanes.

The improvements were needed for increased traffic that accompanied the opening early last year of Home Depot and later Best Buy on the north side of the street. Two restaurants, the LongHorn Steakhouse and On the Border, and a BP gasoline station also have opened at the northeast corner.

A new bank also is coming to 31st and Iowa.

Lawrence based-Peoples Bank arranged a deal to buy property at the northwest corner of the intersection. That area has been vacant since 1997 when KLZR/KLWN radio stations moved to another part of town.

Most recently, construction workers have been building an improved intersection at 31st and Nieder Road. Nieder was built as an access to SuperTarget, 3201 Iowa.

“Because of the traffic volume, it’s getting really difficult there,” Soules said. “A lot of people want to make left-hand turns.”

Improvements will include a traffic signal and the entrance to the Goodwill store (on the north side of 31st) will be aligned more closely with Nieder, Soules said.