OMAHA, Neb. (KMTV) — Work could start soon but it could still be 8 years until its complete. Neighbors told Central Omaha neighborhood reporter Molly Hudson they are still wondering what will actually happen.
- 'I think we are getting to a place now where this is going to start occurring in a responsible way and an accountable way'
- Phase 1 includes entertainment, retail and multifamily use plus parking on all three blocks.
- If this agreement passes City Council, construction could start on phase 1 in 2025.
BROADCAST TRANSCRIPT:
"I get this terrible feeling in my gut that everybody is going walk away and then what to do we do," said Tom Olson, who has lived in the neighborhood north of Crossroads for 6 years.
After years of frustration and neighbors questioning transparency, the development could be moving in a positive direction, but this neighborhood has heard that before.
“I think it has just been a frustrating series of events with developing partnerships, and some that have not worked out well with the visions at this site but I think we are getting to a place now where this is going to start occurring in a responsible way and an accountable way," Festersen said.
We have been talking with Council President Pete Festersen about this project for 15 years.
"I think it is real opportunity as matter fact to re-invest," Festersen said in 2009.
Molly: “You mention holding the developers accountable, for this kind of fresh start of this project, why wasn't something like this in place originally."
Festersen: "They've had several different partnerships that have elected to proceed with this re-development, this would be the third or fourth partner involved, I do have confidence in their plan, I do have confidence in their experience and their resources now.”
The new development agreement includes the Woodbury Corporation -- new to the project this year.
“The reality of it is a lot of work has been done that people don't appreciate because it looks like a dirt pile, you know, right now versus otherwise, but you know we can literally move in and start construction on this site today," said Jeffrey Woodbury, VP of Acquisition, Woodbury Corporation. “Obviously we have an incentive to do it as quick as possible."
So, what makes it different this time? The city will own the property.
"Once we own the property, we will actually ground lease it back to Woodbury in order for them to take over construction on our behalf but at that place we will be actually be their landlord,” said Jennifer Taylor, deputy city attorney.
Phase 1 could start in spring of 2025 with completion in 2027.
Phase 1 includes entertainment, retail and multifamily use plus parking on all three blocks.
While plans are in the works, it could still be years until neighbors see completed construction here.
Molly: "I mentioned to you that the project might not be complete until the end of 2032 what's your reaction to that?"
Larry Leeds: "I will be in a nursing home... that's it."
If this agreement passes city council construction could start on phase 1 in 2025.
